Gamestudio Links
Zorro Links
Newest Posts
Help with plotting multiple ZigZag
by degenerate_762. 04/30/24 23:23
M1 Oversampling
by 11honza11. 04/30/24 08:16
Trading Journey
by howardR. 04/28/24 09:55
Zorro Trader GPT
by TipmyPip. 04/27/24 13:50
Data from CSV not parsed correctly
by jcl. 04/26/24 11:18
AUM Magazine
Latest Screens
The Bible Game
A psychological thriller game
SHADOW (2014)
DEAD TASTE
Who's Online Now
0 registered members (), 975 guests, and 2 spiders.
Key: Admin, Global Mod, Mod
Newest Members
firatv, wandaluciaia, Mega_Rod, EternallyCurious, howardR
19050 Registered Users
Previous Thread
Next Thread
Print Thread
Rate Thread
Page 2 of 3 1 2 3
Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: yosoytrader] #455553
10/22/15 23:22
10/22/15 23:22
Joined: Mar 2015
Posts: 336
Rogaland
N
nanotir Offline
Senior Member
nanotir  Offline
Senior Member
N

Joined: Mar 2015
Posts: 336
Rogaland
I read recently that if the account is above 10K, they can change the leverage to 50:1 as well

Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: nanotir] #455556
10/23/15 09:10
10/23/15 09:10
Joined: Dec 2013
Posts: 568
Fuerth, DE
Sphin Offline
User
Sphin  Offline
User

Joined: Dec 2013
Posts: 568
Fuerth, DE
FXCM Germany announced that they will automatically change 'little' accounts to the 'new mini accounts' (that means FOREX dealing desk too) since 18th of December this year but you can opt-out via formular. This concerns only to accounts of mine with a balance of 0 (which should have been closed already) and does not to another one with 2.5 K. I don't know what FXCM regard as 'little'.

Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: Sphin] #455558
10/23/15 09:19
10/23/15 09:19
Joined: Jul 2000
Posts: 27,986
Frankfurt
jcl Offline

Chief Engineer
jcl  Offline

Chief Engineer

Joined: Jul 2000
Posts: 27,986
Frankfurt
I recommend to opt out. FXCM gave no clear information about the differences of the 'mini account' to a normal account, but their vague description sounds suspicious. You should not switch to a 'dealing desk' account.

Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: jcl] #455561
10/23/15 09:57
10/23/15 09:57
Joined: Jul 2013
Posts: 75
R
royal Offline
Junior Member
royal  Offline
Junior Member
R

Joined: Jul 2013
Posts: 75
I already opt-out as I read this:
"Konten, die der Dealing Desk Ausführung unterliegen, können Restriktionen bezüglich Scalping-Strategien, Newstrading, Expert Adivsors und API-Schnittstellen unterliegen"

(With DD there can be restrictions with scalping strategies, newstrading, EAs and API)

Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: royal] #455563
10/23/15 16:36
10/23/15 16:36
Joined: Dec 2013
Posts: 568
Fuerth, DE
Sphin Offline
User
Sphin  Offline
User

Joined: Dec 2013
Posts: 568
Fuerth, DE
I recommend to change the broker. laugh Seriously, it is not only vague information about the new dealing desk accounts, FXCM changed their terms and conditions significantly within 2015 (and of course according to the SNB impact) and the new formulations in German are partially not even whole sentences (my English is not so good that I would rely on my understanding of legal texts). Therefore I asked my contact at FXCM some questions about some new conditions and received as an answer that I should contact a lawyer. This is no way to deal with customers. I only keep a small amount of money at FXCM because it is actually the only way to trade with Zorro via API, without having MT4 involved.

Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: Sphin] #455591
10/24/15 22:33
10/24/15 22:33
Joined: Mar 2015
Posts: 336
Rogaland
N
nanotir Offline
Senior Member
nanotir  Offline
Senior Member
N

Joined: Mar 2015
Posts: 336
Rogaland
It is something they can do without previous notice. One account can be ND today but tomorrow it can change into DD.
It can happen if the balance goes over 10k but also 8k or whatever without any reason.

So which broker? some suggestions? laugh
When will be ready the API for Oanda or InteractiveBrokers?

Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: nanotir] #455641
10/26/15 15:58
10/26/15 15:58
Joined: Jul 2000
Posts: 27,986
Frankfurt
jcl Offline

Chief Engineer
jcl  Offline

Chief Engineer

Joined: Jul 2000
Posts: 27,986
Frankfurt
The IB API will be included in the November update, but IB has its own problems. Minimum lot size is 20000 contracts. They charge many different fees and require $10000 initial deposit, which means you have to withdraw $3000 first before you even can start trading with the free Zorro version. Oanda is probably better suited for Forex trading.

Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: jcl] #455655
10/26/15 19:24
10/26/15 19:24
Joined: May 2013
Posts: 627
Bonn
Sundance Offline
User
Sundance  Offline
User

Joined: May 2013
Posts: 627
Bonn
So what would be the solution? Is there an Oanda API or need I to go with the MT4 bridge?

Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: Sundance] #455662
10/26/15 22:57
10/26/15 22:57
Joined: Oct 2013
Posts: 15
New York
Jason_Rogers Offline
Newbie
Jason_Rogers  Offline
Newbie

Joined: Oct 2013
Posts: 15
New York
Originally Posted By: DdlV
Hi all,

FYI, I've received a notice that unless I opt out by April 23, on April 24 FXCM will convert my account from NDD/ECN to Dealing Desk/Market Maker. They say this is due to demand and the new account will have lower costs and 400:1 leverage. However, in the fine print it also says no EA's and no API, which = No Zorro!

Has anyone else received this notice?

Thanks.


Originally Posted By: Sphin
From the German FXCM fraction I did not receive a mail with this content so far, maybe it's only a question of time. I guess "opt out" means to exit FXCM? DD is against their promotion but they changed already a lot since 1/15, but "no API" and "no Zorro" sounds not really good.



Originally Posted By: Sundance
I also haven't received such a mail from the german part of FXCM. Will also post if I will and also the result of it.


Originally Posted By: Sphin
FXCM Germany announced that they will automatically change 'little' accounts to the 'new mini accounts' (that means FOREX dealing desk too) since 18th of December this year but you can opt-out via formular. This concerns only to accounts of mine with a balance of 0 (which should have been closed already) and does not to another one with 2.5 K. I don't know what FXCM regard as 'little'.


Hi Everyone,

FXCM's offer to switch accounts to the new Mini account setup was only extended to Standard accounts with a balance less than 2K. That's because a Mini account has lower margin requirements (0.25% for up to 400:1 leverage except in the US where regulations limit leverage to 50:1) allowing you to place more trades with a lower balance. By contrast a Standard account requires at least 1% margin for a maximum of 100:1 leverage.

Last edited by Jason_Rogers; 10/28/15 15:52.
Re: Beware: FXCM is autochanging some accounts to DD/MM on April 24 [Re: Mithrandir77] #455663
10/26/15 23:00
10/26/15 23:00
Joined: Oct 2013
Posts: 15
New York
Jason_Rogers Offline
Newbie
Jason_Rogers  Offline
Newbie

Joined: Oct 2013
Posts: 15
New York
Originally Posted By: Mithrandir77
Does that mean that any newly created account is not going to be able to select no dealing desk?


FXCM offers traders the choice of opening either a Standard account on No Dealing Desk (NDD) execution (2K opening minimum) or a Mini account on DD execution (50 opening minimum).

Last edited by Jason_Rogers; 10/28/15 15:51.
Page 2 of 3 1 2 3

Moderated by  Petra 

Gamestudio download | chip programmers | Zorro platform | shop | Data Protection Policy

oP group Germany GmbH | Birkenstr. 25-27 | 63549 Ronneburg / Germany | info (at) opgroup.de

Powered by UBB.threads™ PHP Forum Software 7.7.1