Hi Itchymoku,

I notice your forum profile mentions that you live in Philadelphia. The reason for the net positions is that as a US resident, your FXCM trading account has to comply with CFTC regulations regarding FIFO (first-in, first-out) execution. It is still possible for US traders to scale in and out of net positions on the FXCM platform, but it works a bit differently than for non-US accounts. Below are instructions on how to set multiple stop/limit levels for a position on an FXCM US account using Trading Station Mobile.


1. On the Rates screen, tap on the currency relevant currency pair.

2. On the Currency screen, tap on OCO (One Cancels the Other order type).

3. On the OCO screen, select the amount of your position that will be closed if this OCO order triggers and specify the price levels for both the stop and limit.

4. On the Orders screen you can see OCO orders designated by a connecting line. If one of those orders is triggered, the related order will automatically be cancelled.

Please let me know if you have any further questions.

Jason

Jason I hate to ask you this again differently but could you also show me with pictures how to scale out with the downloadable platform? I'd highly appreciate this thanks! (it would also serve for educational purposes for other traders as well)

Jason I wish you could put in a request to get market profile (tpo) charts for fxcm. I know they aren't that popular but I use them for trading. I have to actually get volume data and setup a volume profile for 6E to trade eur/usd. I know it's impractical to ask for volume data for the eur/usd but I'm sure the broker volume data isn't much different. lol

Why not just use Sierra Chart and FXCM? For TPO it would be fine. For VP you of course can't use Forex since there is no centralized volume.

Mike

oh, just trying to cut the cost / hassle of going back and forth. I'm focusing mainly on forex atm and cutting out futures temporarily.

Plotting 6E vollume to trade EUR/USD spot is going to have a problem because of the alignment. The two instruments can have an offset of several ticks which changes at rollover. While they move in unison during the day, this offset will be hard to overcome on charts.

Mike

Jason I wish you could put in a request to get market profile (tpo) charts for fxcm it would make my life a lot easier. I know they aren't that popular for currencies but I use them for trading. I have to actually set it up on sierra chart or other software to see it correctly. It would be nice to have it all on one platform so I don't have to pay for a software fee. You guys have a lot of good things going for you with server side oco and the mobile platform I just wish this last piece of the puzzle was there.

COMPLAINT:

On July 18, 2014, NFA issued a Complaint charging FXCM with doing business with an unregistered entity which was required to be registered as a CPO NFA Member and failing to submit trade data to NFA through FORTRESS.

DECISION:

On July 18, 2014, pursuant to a settlement offer submitted by FXCM, the firm was ordered to pay a $200,000 fine.

Case Summary



Attached are PDF complaint and PDF decision.

Mike