FXCM Review 2020 - Pros and Cons Uncovered

FXCM, also known as Forex Capital Markets, is a retail foreign exchange broker based in London

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FXCM, also known as Forex Capital Markets, is a retail foreign exchange broker based in London.

submitted by reviewfxbroker880 to u/reviewfxbroker880 [link] [comments]

10-19 00:15 - 'I will develop an cryptocurrency trading bot, forex brokers for you' (self.Bitcoin) by /u/Idrees_umar removed from /r/Bitcoin within 2-12min

'''
Hello!!
Welcome to my gig are you in search of an MT4 trafing bot developer?
.I will develop a perfect and profitable Arbitrage Trading bot which will make you earn a lot of income.
You have an idea of a trading system and you want to backtest or make it real. You need a guy who'd put it into the code and make all this technical stuff. So let me help you to earn mo.ney.
I HAVE EXPERIENCE IN :
?Crypto Trading bots, Ma.rket ma.ker, Trend following, Arbitrage
?Crypto exchanges API, Binance, Okex, Huobi, KuCoin, etc.
?Stock Trading bots, Strategies based on Indicators
?Brokers API, FXCM, TD Ameritrade
?Telegram API / Email API for notification
?Execute trading signals from Email or Telegram chat
?Building a financial GUI, Grafana
?Cloud servers, AWS, MS Azure, DigitalOcean
?Python, Backend, Git
!!Confidence guarantee. I do NOT share your strategy to third parties.
WHAT I CAN DO FOR YOU:
?develop a Script or WebApp, which able to work 24/7
?build a GUI, Control panel for this bot
?bind it with Telegram bot to control it and get notifications
?backtest your strategy on historical data (Forex or Crypto)
?develop tools for watch
'''
I will develop an cryptocurrency trading bot, forex brokers for you
Go1dfish undelete link
unreddit undelete link
Author: Idrees_umar
submitted by removalbot to removalbot [link] [comments]

10-16 11:15 - 'I will develop an cryptocurrency trading bot, forex brokers for you' (self.Bitcoin) by /u/Idrees_umar removed from /r/Bitcoin within 35-45min

'''
Hello!!
Welcome to my gig are you in search of an MT4 trafing bot developer?
.I will develop a perfect and profitable Arbitrage Trading bot which will make you earn a lot of income.
You have an idea of a trading system and you want to backtest or make it real. You need a guy who'd put it into the code and make all this technical stuff. So let me help you to earn mo.ney.
I HAVE EXPERIENCE IN :
?Crypto Trading bots, Ma.rket ma.ker, Trend following, Arbitrage
?Crypto exchanges API, Binance, Okex, Huobi, KuCoin, etc.
?Stock Trading bots, Strategies based on Indicators
?Brokers API, FXCM, TD Ameritrade
?Telegram API / Email API for notification
?Execute trading signals from Email or Telegram chat
?Building a financial GUI, Grafana
?Cloud servers, AWS, MS Azure, DigitalOcean
?Python, Backend, Git
!!Confidence guarantee. I do NOT share your strategy to third parties.
WHAT I CAN DO FOR YOU:
?develop a Script or WebApp, which able to work 24/7
?build a GUI, Control panel for this bot
?bind it with Telegram bot to control it and get notifications
?backtest your strategy on historical data (Forex or Crypto)
?develop tools for watch
'''
I will develop an cryptocurrency trading bot, forex brokers for you
Go1dfish undelete link
unreddit undelete link
Author: Idrees_umar
submitted by removalbot to removalbot [link] [comments]

Forex Correlation

I believe it would be extremely helpful/valuable to have available a Forex Correlation table that displays the trade correlations of all currencies in different time intervals (Day, 4 Hour, 2 Hour, 1 Hour, 30 Minute, and 5 Minute). The tables should represents the correlation between the various parities of the foreign exchange market.
The correlation coefficient highlights the similarity of the movements between two parities.

It could be placed under the "Forex Screener" tab at the bottom of the charts for easy access; if you develop this feature.
ideal source: https://www.mataf.net/en/forex/tools/correlation
explanation of currency pair correlation: https://www.fxcm.com/markets/insights/what-is-a-currency-correlation/
submitted by palmercar to TradingView [link] [comments]

[Not my post] The Structure of Forex Brokers

Originally posted by Darkstar at Forex Factory.
Disclaimer: I did not write this. I found this post on ForexFactory written by a user called DarkStar, which I believe a lot of redditors will benefit from reading.
________________________________________________________________________________________________________
There has been much discussion of late regarding borker spreads and liquidity. Many assumptions are being made about why spreads are widened during news time that are built on an incomplete knowledge of the architecture of the forex market in general. The purpose of this article is to dissect the market and hopefully shed some light on the situation so that a more rational and productive discussion can be undertaken by the Forex Factory members.
We will begin with an explanation of the purpose of the Forex market and how it is utilized by its primary participants, expand into the structure and operation of the market, and conclude with the implications of this information for speculators. With that having been said, let us begin.
Unlike the various bond and equity markets, the Forex market is not generally utilized as an investment medium. While speculation has a critical role in its proper function, the lion’s share of Forex transactions are done as a function of international business.
The guy who buys a shiny new Eclipse more then likely will pay for it with US Dollars. Unfortunately Mitsubishi’s factory workers in Japan need to get their paychecks denominated in Yen, so at some point a conversion needs to be made. When one considers that companies like Exxon, Boeing, Sony, Dell, Honda, and thousands of other international businesses move nearly every dollar, real, yen, rubble, pound, and euro they make in a foreign country through the Forex market, it isn’t hard to understand how insignificant the speculative presence is; even in a $2tril per day market.
By and large, businesses don’t much care about the intricacies of exchange rates, they just want to make and sell their products. As a central repository of a company’s money, it was only natural that the banks would be the facilitators of these transactions. In the old days it was easy enough for a bank to call a foreign bank (or a foreign branch of ones own bank) and swap the stockpiles of currency each had accumulated from their many customers.
Just as any business would, the banks bought the foreign currency at one rate and marked it up before selling it to the customer. With that the foreign exchange spread was born. This was (and still is) a reasonable cost of doing business. Mitsubishi can pay its customers and the banks make a nice little profit for the hassle and risks associated with moving around the currency.
As a byproduct of transacting all this business, bank traders developed the ability to speculate on the future of currency rates. Utilizing a better understanding of the market, a bank could quote a business a spread on the current rate but hold off hedging until a better one came along. This process allowed the banks to expand their net income dramatically. The unfortunate consequence was that liquidity was redistributed in a way that made certain transactions impossible to complete.
It was for this reason and this reason alone that the market was eventually opened up to non-bank participants. The banks wanted more orders in the market so that a) they could profit from the less experienced participants, and b) the less experienced participants could provide a better liquidity distribution for execution of international business hedge orders. Initially only megacap hedge funds (such as Soros’s and others) were permitted, but it has since grown to include the retail brokerages and ECNs.

Market Structure:
Now that we have established why the market exists, let’s take a look at how the transactions are facilitated:
The top tier of the Forex market is transacted on what is collectively known as the Interbank. Contrary to popular belief the Interbank is not an exchange; it is a collection of communication agreements between the world’s largest money center banks.
To understand the structure of the Interbank market, it may be easier to grasp by way of analogy. Consider that in an office (or maybe even someone’s home) there are multiple computers connected via a network cable. Each computer operates independently of the others until it needs a resource that another computer possesses. At that point it will contact the other computer and request access to the necessary resource. If the computer is working properly and its owner has given the requestor authorization to do so, the resource can be accessed and the initiating computers request can be fulfilled. By substituting computers for banks and resources for currency, you can easily grasp the relationships that exist on the Interbank.
Anyone who has ever tried to find resources on a computer network without a server can appreciate how difficult it can be to keep track of who has what resources. The same issue exists on the Interbank market with regard to prices and currency inventory. A bank in Singapore may only rarely transact business with a company that needs to exchange some Brazilian Real and it can be very difficult to establish what a proper exchange rate should be. It is for this purpose that EBS and Reuters (hereafter EBS) established their services.
Layered on top (in a manner of speaking) of the Interbank communication links, the EBS service enables banks to see how much and at what prices all the Interbank members are willing to transact. Pains should be taken to express that EBS is not a market or a market maker; it is an application used to see bids and offers from the various banks.
The second tier of the market exists essential within each bank. By calling your local Bank of America branch you can exchange any foreign currency you would like. More then likely they will just move some excess currency from one branch to another. Since this is a micro-exchange with a single counterparty, you are basically at their mercy as to what exchange rate they will quote you. Your choice is to accept their offer or shop a different bank. Everyone who trades the forex market should visit their bank at least once to get a few quotes. It would be very enlightening to see how lucrative these transactions really are.
Branching off of this second tier is the third tier retail market. When brokers like Oanda, Forex.com, FXCM, etc. desire to establish a retail operation the first thing they need is a liquidity provider. Nine in ten of these brokers will sign an agreement with just one bank. This bank will agree to provide liquidity if and only if they can hedge it on EBS inclusive of their desired spread. Because the volume will be significantly higher a single bank patron will transact, the spreads will be much more competitive. By no means should it be expected these tier 3 providers will be quoted precisely what exists on the Interbank. Remember the bank is in the business of collecting spreads and no agreement is going to suspend that priority.
Retail forex is almost akin to running a casino. The majority of its participants have zero understanding how to trade effectively and as a result are consistent losers. The spread system combined with a standard probability distribution of returns gives the broker a built in house advantage of a few percentage points. As a result, they have all built internal order matching systems that play one loser off against a winner and collect the spread. On the occasions when disequilibrium exists within the internal order book, the broker hedges any exposure with their tier 2 liquidity provider.
As bad as this may sound, there are some significant advantages for speculators that deal with them. Because it is an internal order book, many features can be provided which are otherwise unavailable through other means. Non-standard contract sizes, high leverage on tiny account balances, and the ability to transact in a commission free environment are just a few of them…
An ECN operates similar to a Tier 2 bank, but still exists on the third tier. An ECN will generally establish agreements with several tier 2 banks for liquidity. However instead of matching orders internally, it will just pass through the quotes from the banks, as is, to be traded on. It’s sort of an EBS for little guys. There are many advantages to the model, but it is still not the Interbank. The banks are going to make their spread or their not go to waste their time. Depending on the bank this will take the form of price shading or widened spreads depending on market conditions. The ECN, for its trouble, collects a commission on each transaction.
Aside from the commission factor, there are some other disadvantages a speculator should consider before making the leap to an ECN. Most offer much lower leverage and only allow full lot transactions. During certain market conditions, the banks may also pull their liquidity leaving traders without an opportunity to enter or exit positions at their desired price.

Trade Mechanics:
It is convenient to believe that in a $2tril per day market there is always enough liquidity to do what needs to be done. Unfortunately belief does not negate the reality that for every buyer there MUST be a seller or no transaction can occur. When an order is too large to transact at the current price, the price moves to the point where open interest is abundant enough to cover it. Every time you see price move a single pip, it means that an order was executed that consumed (or otherwise removed) the open interest at the current price. There is no other way that prices can move.
As we covered earlier, each bank lists on EBS how much and at what price they are willing to transact a currency. It is important to note that no Interbank participant is under any obligation to make a transaction if they do not feel it is in their best interest. There are no “market makers” on the Interbank; only speculators and hedgers.
Looking at an ECN platform or Level II data on the stock market, one can get a feel for what the orders on EBS look like. The following is a sample representation:
You’ll notice that there is open interest (Level II Vol figures) of various sizes at different price points. Each one of those units represents existing limit orders and in this example, each unit is $1mil in currency.
Using this information, if a market sell order was placed for 38.4mil, the spread would instantly widen from 2.5 pips to 4.5 pips because there would no longer be any orders between 1.56300 and 1.56345. No broker, market maker, bank, or thief in the night widened the spread; it was the natural byproduct of the order that was placed. If no additional orders entered the market, the spread would remain this large forever. Fortunately, someone somewhere will deem a price point between those 2 figures an appropriate opportunity to do something and place an order. That order will either consume more interest or add to it, depending whether it is a market or limit order respectively.
What would have happened if someone placed a market sell order for 2mil just 1 millisecond after that 38.4 mil order hit? They would have been filled at 1.5630 Why were they “slipped”? Because there was no one to take the other side of the transaction at 1.56320 any longer. Again, nobody was out screwing the trader; it was the natural byproduct of the order flow.
A more interesting question is, what would happen if all the listed orders where suddenly canceled? The spread would widen to a point at which there were existing bids and offers. That may be 5,7,9, or even 100 pips; it is going to widen to whatever the difference between a bid and an offer are. Notice that nobody came in and “set” the spread, they just refused to transact at anything between it.
Nothing can be done to force orders into existence that don’t exist. Regardless what market is being examined or what broker is facilitating transactions, it is impossible to avoid spreads and slippage. They are a fact of life in the realm of trading.

Implications for speculators:
Trading has been characterized as a zero sum game, and rightly so. If trader A sells a security to trader B and the price goes up, trader A lost money that they otherwise could have made. If it goes down, Trader A made money from trader B’s mistake. Even in a huge market like the Forex, each transaction must have a buyer and a seller to make a trade and one of them is going to lose. In the general realm of trading, this is materially irrelevant to each participant. But there are certain situations where it becomes of significant importance. One of those situations is a news event.
Much has been made of late about how it is immoral, illegal, or downright evil for a broker, bank, or other liquidity provider to withdraw their order (increasing the spread) and slip orders (as though it was a conscious decision on their part to do so) more then normal during these events. These things occur for very specific reasons which have nothing to do with screwing anyone. Let us examine why:
Leading up to an economic report for example, certain traders will enter into positions expecting the news to go a certain way. As the event becomes immanent, the banks on the Interbank will remove their speculative orders for fear of taking unnecessary losses. Technical traders will pull their orders as well since it is common practice for them to avoid the news. Hedge funds and other macro traders are either already positioned or waiting until after the news hits to make decisions dependent on the result.
Knowing what we now know, where is the liquidity necessary to maintain a tight spread coming from?
Moving down the food chain to Tier 2; a bank will only provide liquidity to an ECN or retail broker if they can instantly hedge (plus their requisite spread) the positions on Interbank. If the Interbank spreads are widening due to lower liquidity, the bank is going to have to widen the spreads on the downstream players as well.
At tier 3 the ECN’s are simply passing the banks offers on, so spreads widen up to their customers. The retailers that guarantee spreads of 2 to 5 pips have just opened a gaping hole in their risk profile since they can no longer hedge their net exposure (ever wonder why they always seem to shut down or requote until its over?). The variable spread retailers in turn open up their spreads to match what is happening at the bank or they run into the same problems fixed spreads broker are dealing with.
Now think about this situation for a second. What is going to happen when a number misses expectations? How many traders going into the event with positions chose wrong and need to get out ASAP? How many hedge funds are going to instantly drop their macro orders? How many retail traders’ straddle orders just executed? How many of them were waiting to hear a miss and executed market orders?
With the technical traders on the sidelines, who is going to be stupid enough to take the other side of all these orders?
The answer is no one. Between 1 and 5 seconds after the news hits it is a purely a 1 way market. That big long pin bar that occurs is a grand total of 2 prices; the one before the news hit and the one after. The 10, 20, or 30 pips between them is called a gap.
Is it any wonder that slippage is in evidence at this time?

Conclusions:
Each tier of the Forex market has its own inherent advantages and disadvantages. Depending on your priorities you have to make a choice between what restrictions you can live with and those you cant. Unfortunately, you can’t always get what you want.
By focusing on slippage and spreads, which are the natural byproduct of order flow, one is not only pursuing a futile ideal, they are passing up an enormous opportunity to capitalize on true inefficiencies. News events are one of the few times where a large number of players are positioned inappropriately and it is fairly easy to profit from their foolishness. If a trader truly wants to make the leap to the next level of profitability they should be spending their time figuring out how identify these positions and trading with the goal of capturing the price movement they inevitably will cause.
Nobody is going to make the argument that a broker is a trader’s best friend, but they still provide a valuable service and should be compensated for their efforts. By accepting a broker for what it is and learning how to work within the limitations of the relationship, traders have access to a world of opportunity that they otherwise could never dream of capturing. Let us all remember that simple truth.
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FOREX or Stock trading

So the people over at personalfinance told me to come here
I'm 22 and have savings of £5k. Is FOREX more profitable than trading stock? I would like to aim to double my money in 2-3 years.
edit: okay doubling sounds a bit ambitious so lets say 1k min.
submitted by KaiChung to investing [link] [comments]

Backtesting with Tradingview

Hello, could someone explain to me why when I search for EURUSD on Tradingview I get multiple hits of EURUSD but each has a different exchange, fxcm, ice, forex.com, oanda. Does it matter which one I choose to backtest?
submitted by Alko11 to Forex [link] [comments]

Exclusive arrangement | ASIC supervises 63 brokerage firms'full list. Before the end of April, pay attention to the entry and exit of these platforms.

Australian regulators have asked their brokers to violate Chinese and EU laws in providing OTC derivatives to overseas retail traders.
At present, there are 63 Australian brokers in China. This week, the platforms that have cancelled ASIC regulatory licences are UTRADE, ESA ASIA and Baofu International.
Yesterday, the suspension of Chinese customers'cash inflows was announced by OANDA and Lotte Securities.
It should also be noted that only ASIC license platforms, if there is no good plan before the end of April, then customers in China will be affected. Investors should pay attention to the situation of April's income and expenditure. These platforms include (ranked indiscriminately):
Amdforex
Cardiff
IFGM
Advanced Markets
Best Leader
Charterprime
Rubix FX
PGWG
EightCap
GS Deep Ocean
Global Prime
Millennium,
Wiston FX
INVAST
OGFX
Mickens MARKETS
DV Markets (IFS Markets)
JB Alpha
City index
ILQ
Trend
FOREX CT
VT Markets
ETO Markets
TradeMax
GO Markets
AUGS Markets
Hantec Markets
GMT Markets
USGFX
SuperTrader
BCR
ACY
Capstone
Anzo Capital
TBC
With ASIC licences, there are also platforms with other licences. Although customer access to ASIC is monitored under Australian supervision, diversified licences still have advantages for customer ownership arrangements. These platforms include (ranked indiscriminately):
AVATrade
Eddie McAdral markets
KVB
Think Markets
XM
Profit securities
IC Markets
AETOS
MahiFX (Saled Retail Business)
FXOpen
Vantage FX
Xforex
FP Markets
European market
Velocity
Royal
MEX Group
Pepperstone
AxiTrader
Easy Markets
CMC Markets
Gain capital
FXCM
IG Markets
Before the end of April, ASIC brokers requested a written reply to ASIC detailing the measures taken to comply with regulatory requirements for overseas customers.
Before May 7, ASIC brokers need to e-mail the number of customers in each jurisdiction.
In the meantime, investors can choose platforms with a wide range of licences and high ratings through the official website of foreign exchange agents www.fxmitan.com.
submitted by Zebrahelps to u/Zebrahelps [link] [comments]

Ego Trading & Humility-How managing your ego can help you improve

“Who is more humble? The scientist who looks at the universe with an open mind and accepts whatever the universe has to teach us, or somebody who says everything in this book must be considered the literal truth and never mind the fallibility of all the human beings involved?” ― Carl Sagan
Most often regardless of which online community be it stocktwits, reddit, facebook or discord I've seen traders either admitting to failure or those who avoid admitting those failures making grandiose claims that couldn't otherwise be further from the truth. But how do you navigate what people are saying, those who are actually profiting and learning from their mistakes or those who are choosing to be in a rut? Things we need to get out of the way first(summary for everything):
*Everyone has an ego, you cannot silence it because an ego is your sense of "self". You can only learn to manage it. *You do this by not trying to fight it, acknowledge it, listen to it, then make a clear distinction between what you're ego is telling you. And what is actually real. *An Ego is actually a good thing because it's likely what has driven you want to become a trader in the first place and will likely drive you to success if you can use it as a strength and not let it be a weakness
Think on this; trading is a magnet for ego, it promises rich rewards for those who can get into the 90%, it has proven time and time again that only 10-20% of traders are successful for any market. It's a sobering thought, and most likely will turn away a lot of traders from ever even clicking buy. Often you will see comments arguing that it is 85%, 90% or 95%, it does not matter, you will still have more of a chance in becoming a navy seal than you do becoming a successful trader. this is one thing specifically that I have seen people argue about here...and it is probably some of the most useless information to argue over if you were to pick something, it is high, regardless of it being 90% or 95% and it will not help you get better.
But why argue about it at all? this is the kicker, ego. People often become so frustrated with trading that they have a contrarian view to almost anything, this is not a good way to learn anything, period. If a stance is submitted they immediately become skeptical rather than doing DD. It is understandable people are often very suspicious of the information they receive, so many brokerages are handing out IB contracts like hotcakes to people who have never clicked buy or sell on anything other than Amazon. These are the people who are making real money selling fake programs and spreading misinformation, like alot of brokerages. In the forex market, it is even more cutthroat than stocks, this is because your brokerages, if they operate through a dealing desk, will actively trade against you, FXCM went out of business in the US because the NFA and CFTC came down on them hard for lying to their consumer base.
In regards to fixing all of this.. it will take a level of self-reflection. If there was one thing I wanted to bring from the equities market to the foreign exchange it would be Due Diligence a mix of fundamental analysis/technical to study what this person is saying and if it, in fact, aligns with your beliefs this means you are better suited to address someone else's comment rather than letting yourself get carried away. This means that if you see an opinion be it informed or uninformed you look at that opinion with a neutral view, and you do your due diligence based upon what the author states. It is exactly the difference of information you receive if someone recommended you buy SPY and someone, said buy a sub-1$ biotech company(protip: don't do that).
Good luck out there :)
submitted by hisurfing to Forex [link] [comments]

Forex Sentiment Data Overview, it's Application in Algo trading, and Free Sample Data

From Commitment of Traders (COT) to the Daily Sentiment Index (DSI), to the Put/Call ratio and more, sentiment data has long been highly sought after by both professional and retail traders in the mission to get an edge in the market. Equity and futures traders can access this market data relatively easily due to the centralization of the market they are trading.

But what about Forex traders? There is no single centralized exchange for the Foreign Exchange market therefore sentiment data is difficult to obtain and can be extremely pricey for Forex traders. Furthermore, if a trader had access to such data, the sample set may be limited and not closely reflect the actual market.

In order for Forex sentiment data to be valuable, the data must be derived from a large, far reaching sample of Forex traders. FXCM boasts important Forex trading volumes and a significant trader sample and the broker’s large sample size is one of the most representative samples of the entire retail Forex market. Therefore, the data can be used to help predict movement of the rate of an instrument in the overall market.

This sentiment data shows the retail trader positioning and is derived from the buyer-to-seller ratio among retail FXCM traders. At a glance, you can see historical and current trader positioning in the market. A positive ratio indicates there are more traders that are long for every trader that is short. A negative ratio is indicative of a higher number of traders that are short for every long trader. For example, a ratio of 2.5 would mean that there are 2.5 traders that are long for every short trader and -2.5 would mean just the opposite.

When it comes to algo trading, sentiment can be used as a contrarian indicator to help predict potential moves and locate trading opportunities. When there is an extreme ratio or net volume reading, the majority of traders are either long or short a specific instrument. It is expected that the traders who are currently in these positions will eventually close out therefore bring the ratio back to neutral. Consequently, there tends to be a sharp price movement or a reversal.

When extremes like this are present in the market, a mean reversion automated strategy can be implemented to take advantage of the moves in the market that are expected to ensue. If sentiment is skewed very high or very low, price is moving away from the mean. However, over time it is expected to regress back to the mean resulting in a more neutral reading. Neutral would be considered a number close to 1.0 or -1.0. It is recommended that a confirmation indicator or two be coded into the mean reversion strategy as well.

Free one-month sample of the historical Sentiment Data can be accessed by pasting this link in your browser https://sampledata.fxcorporate.com/sentiment/{instrument}.csv.gz and changing the {instrument}: to the pair or CFD you would like to download data for. For example, for USD/JPY data download you would use this link: https://sampledata.fxcorporate.com/sentiment/USDJPY.csv.gz.
When the file downloads, it will be a GNU zip compressed file so you will need to use a decompression utility to open it. To open the file with 7zip, open the downloads folder, click on your file, and click ‘copy path’. Then open 7Zip and paste your clipboard into the address bar and click enter. Then click the ‘extract’ button. This will open a window where you can designate a destination to copy your new csv file. Click OK, and navigate back to your file explorer to see your csv file.
You can find more details about the sentiment data by checking out FXCM’s Github page: https://github.com/fxcm/MarketData/tree/masteSentiment
submitted by JasonRogers to AlgoTradingFXCM [link] [comments]

[Graph] Krugman's "Bitcoin is not a stable store of value" debunked.

I decided to utilize historic values to examine Krugman's statement:
To be successful, money must be both a medium of exchange and a reasonably stable store of value. And it remains completely unclear why BitCoin should be a stable store of value.
No one will deny that Bitcoin is currently extremely volatile. This is not an examination of that point. This is focused purely on the question of whether, historically, Bitcoin has proven to be a good store of value. No one can predict the future, so the best we have is historical data.
This is particularly of interest to me, give the recent tumble in Bitcoin price, as well as recent reports of the third worst collapse of the dollar in the past decade.
Methodology
To examine the quality of Store of Value, I examined the historical prices of seven different assets. I envisioned a buyer of the asset purchasing it on a given day, and holding it for some length of time (X), ranging between one day and about 3.5 years (which is all the data we have for Bitcoin).
The measurement is this: if you choose a random day to buy the asset, and you buy it at the mid-point price that day, and hold it for X days, what is the probability that it will still have 100% of its value after X days. It seems like a reasonable assumption is that an asset that is a good store of value would perform well in this scenario, and retain 100% of its value a high percentage of the time.
The seven assets were:
  1. Bitcoin purchased on Bitstamp. Data provided by BitcoinCharts.
  2. Bitcoin purchased on Mt. Gox. Data provided by BitcoinCharts.
  3. Bitcoin Freely Exchangeable: For this measurement, I used Mt. Gox prices as mentioned above, until May 13, 2013 (the day before the US Government seized funds), and Bitstamp prices since then. This is an attempt to eliminate the odd pricing on Mt. Gox due to the withdrawal challenges.
  4. The Dow Jones FXCM Dollar Index, data provided by Google Finance. The data for this index was available going back to 4/18/2011. It's an index of the dollar, presumably comparing to other currencies. (This may be mislabeled, calling it a fund. Not sure.)
  5. Spider Gold Shares GLD, an ETF for Gold. Data provided by Yahoo Finance. This data goes back to 11/18/2004.
  6. Spider Gold Shares GLD, for the period that Bitcoin has been traded. Same data source as #5, but a subset of the data.
  7. The US Dollar (1914-2013), reflecting the US monthly inflation rates. This data was provided by usInflationCalculator.com.
In all cases, I used the average of the daily high and the daily low, when available. In the case of the Dollar (1914-2013), I used monthly inflation rates.
In all cases, I set the purchase date to one of the days that the asset was traded. In the case of the Dollar (1914-2013), I utilized the first of the month. And I set the ending valuation date as the next time the asset traded, after X days elapsed. In the case of the Dollar (1914-2013), this would be the first of some future month, after X days had passed.
Results
Here's the Graph.
The best performing asset was buying Bitcoins on Bitstamp. In all cases historically, if you held the asset for 274 days, the asset was still worth 100% of your original investment.
Mt. Gox and the Freely Exchangeable Bitcoin measurements were similar: After 622 days, 100% of the time, your original invested value was retained.
The Dollar fund (index, actually) underperformed all Bitcoin options, when measuring periods less than 243 days. But for periods of between 471 days and 1033 days, 100% of the time, the dollar fund retained its complete value. (No data for periods longer than 1033 days).
The Gold ETF underperformed Bitcoin, whether you looked at the period of Bitcoin being on the market, or the life of the ETF.
And, no surprise, the dollar as measured by inflation, came in dead last. In the past 100 years, it has only retained its value month-over-month about 15% of the time. And the longer you held it, generally, the worse off you were.
All data is available at the sources above, and the computations are available.
The graph of the results is licensed for you to use widely with attribution.
I hope this helps when you are talking to the Krugmans of the world.
(Edit: it's -> its)
submitted by E-GovLink to Bitcoin [link] [comments]

Since a lot of these buttcoiners are also amateur FOREX gamblers..

Yeah, they just lost all that money too, if they were messing with francs/euros
TLDR; the Swiss unlinked their currency from the Euro, to the detriment of their exporters but to the benefit of their banks (of course), as the Swiss currency took off like a rocket.
Retail forex exchange FXCM instantly saw customer losses that they have no prayer of collecting in many cases, which threatens their solvency. The fallout has even spilled over into their parent company, Interactive Brokers. I'm sure they're not the only one.
submitted by Y3808 to Buttcoin [link] [comments]

Current State of the Brokers

Still Operating
In Danger
Shutdown
No Annoucement
submitted by J2000_ca to Forex [link] [comments]

FXCM CEO Drew Niv Discusses Firm's Future after the CHF Crisis

Hi Everyone,
Our CEO Drew Niv held a Q&A with Forex Magnates which will answer many questions we have received over the past couple of weeks http://forexmagnates.com/exclusive-fxcm-inc-ceo-drew-niv-discusses-firms-future-after-the-chf-crisis/. Please understand that some questions I can't answer since we are a publicly traded company and it may be material information, but we will get to all questions in due time.
What happened on January 15th after the SNB announcement? What was the immediate impact of the SNB announcement on the company’s systems?
At the time of the SNB announcement over 3,000 FXCM clients held slightly over $1 billion in open positions on EUCHF. Those same clients held approximately $80 million of collateral in their accounts. As you know this was the largest move of a major currency since currencies started floating 1971.
The EUCHF move was 44 standard deviation moves, while most risk management systems only contemplate 3-6 standard deviations. The moved wiped out those clients’ account equity as well as generated negative equity balances owed to FXCM of over $225 million. We believe that the FXCM system operated properly during this event.
The caveat of our no dealing-desk execution system is that traders are offset one for one with a liquidity provider. When a client entered a EUCHF trade with FXCM, FXCM Inc. had an identical trade with our liquidity providers. During the historic move, liquidity became extremely scarce and shallow, which affected execution prices. This liquidity issue resulted in some clients having a negative balance.
While clients could not cover their margin call with us we still had to cover the same margin call with our banks. When a client profits in the trade FXCM gives the profits to the customer, however, when the client is not profitable on that trade FXCM Inc. ends up having to pay the liquidity provider.
FXCM ended with a regulatory capital shortfall. Accordingly, FXCM needed to get a loan to cover this balance, which it did. For anyone that still thinks FXCM is running an FX dealing desk, we have now demonstrated that such is not the case.
Why do you think many people traded EUCHF with FXCM?
Because we are a no dealing-desk broker and offset each trade one-for-one with our liquidity providers, and only make money on trades not customer losses. We published a study a few years ago called “traits of successful traders” that looked at FXCM traders over a long period of time and their general behavior to find what was destructive behavior to stay away from and what worked for clients.
The study focuses on what the majority of profitable traders did to increase their odds of success. What the study found was that traders who traded during quiet range-bound market hours like Asian hours OR that traded rang- bound low volatility currency pairs tended to be more profitable.
Obviously many of our competitors who are on the opposite side of their clients’ trades did not find this trade to be helpful to their bottom line, as they lose money when traders profit. We saw many of the dealing desk firms begin to increase overnight rollover cost as well as raise margin requirements to get these trades off their system and that’s why FXCM and other STP brokers had much bigger exposure.
Why did FXCM require an emergency loan with such tough terms?
As a regulated broker we are required to notify our regulators in a timely manner when any event occurs that may be deemed sensitive to clients. When we notified the regulators, they required FXCM Inc.’s regulated entities to supplement their respective net capital on an expedited basis.
We explored multiple debt and equity financing alternatives in an effort to meet the regulator’s deadline. The deal we ended up doing with Leucadia was the only deal that could and would happen in the very short timeframe we were given by the regulators. The CEO and the president of Leucadia were here in the office working on the deal.
It was a tall order for someone outside of the FX industry to come in and write a $300 million dollar check. This was the type of thing only top management could do. But they see the sustainability of FXCM, and that was everyone’s end goal. We really are very thankful to Leucadia. The deal enables us to live and fight another day and gives us time to build shareholder value in the future.
You said you plan to pay back the loan with proceeds from sales of non-core assets so what are non-core assets and will that be enough?
We announced last week that we anticipate that with the proceeds from the sale of some non-core assets and continued earnings we can meet both near and long-term obligations of our financing, while preserving the strength of our franchise. It’s widely known and understood that FXCM’s core business has always been retail FX; It is the majority of FXCM’s revenue.
However, over the past few years, the company has spent over $250 million dollars making strategic acquisitions building up our non-core businesses, mainly the institutional side as we tried to diversify the firm. We are now looking to sell some of those non-core assets; But, we are not in a rush and are looking to get the highest valuations for these assets.
We are considering closing or selling smaller regulated entities that require large sums of capital requirements, but that offer increasingly low return on capital. The latter move allows us to free up significant amounts of cash that is currently trapped. We believe that in the near term we can pay down a majority of the loan. That’s our goal.
What happens after 90 days according to your agreement with Leucadia?
The agreement says we need to pay back $50 million of the loan along with $10 million in fees in 90 days. If we don’t pay that $60 million, we will be assessed an additional $30 million in fees when the loan is due in 2017. So we are going to pay our $60 million and hopefully more in 90 days and then go from there. To be clear, the financing does not force us to do anything at 90 days.
Will you be selling FXCM?
I absolutely do not plan on selling FXCM. Like I said we will be selling non-core assets but no I don’t plan on selling FXCM. That is also why we implemented the shareholder rights plan to prevent a hostile takeover. FXCM has been independent for over 15 years and we intend to stay that way.
Are client funds safe with FXCM?
Yes. As we have said, we believe FXCM’s systems operated properly during this event. I’ll stress it here again, FXCM is not insolvent, has not filed for any form of bankruptcy, and is in compliance with all regulatory capital requirements in the jurisdictions in which it operates. The financing we received from Leucadia has strengthened our balance sheet and gives us the opportunity to grow our core business. With Leucadia, our pockets are even deeper and we aren’t going anywhere. Additionally, all of our regulated entities except the U.S. provide clients with segregated funds. All of our global client base in our regulated entities minus US clients would be protected under a bankruptcy. Our UK regulated entity through the FSCS even offers clients £50,000 per person in protection. Canada has similar insurance for retail traders of up to $1 million CAD.
What are the relationships like with your liquidity providers after this event?
Many of these relationships are long-standing relationships. The entire industry took a hit here. They understand what happened. Most everyone halted trading in EUCHF, but half of our liquidity providers kept providing prices in all other pairs the entire time. Half of the LPs did stop pricing FXCM on Friday January 16th, but most have returned. We presently only have two providers that have not yet returned, but we are optimistic that they will soon return. There is still plenty of liquidity on the platform. Most banks and other liquidity providers have been working very closely with the FXCM team.
Where do you see FXCM in six months from now?
We will be well on our way to paying down the loan and continue to grow our core franchise. FXCM still has the best platform for retail traders, we still provide the fairest and more transparent execution in the business and we have a slew of new trading indicators and applications that no one in the space is even considering offering their clients. We’ll still be here; We may just look a little different. Here are a few things we are working to get out in the next six months:
Single Share CFDs – We are going to be offering the top 200 or so most traded US, UK, French and German stocks. We are going to offer these shares on the equivalent of NDD in FX.
Improving CFD execution – Sharpening execution capabilities to match some of the benefits of our FX capabilities for Index and Energy CFDs to remove restrictions on stops and limits, allowing APIs, along with tighter spreads.
Market Depth in FX – clients will be able to see the depth of liquidity which will provide them more transparency with execution quality and allow them to make more informed trading decisions.
Real Volume indicators – clients will have a real volume ticker of all trades done on the FXCM system, which will show clients’ actual order flow; they can see directional volume, so long, short, net or total volume as well as balance on volume per instrument; and finally we have an indicator to show the ratio of real volume divided into transactions per period. These indicators will let clients compare our trading activity against other independent providers who also publish volumes like the CME, and clients will be able to compare execution.
Sentiment Index – We will be providing FXCM’s client sentiment data in real-time as a default on the platform so clients can see where the rest of the clients are.
These software updates and platform features are bringing much more transparency to the retail FX market aimed at improving the client experience in the market.
With your stock price so low, is that an indication of the health of your company?
While it is true that FXCM’s stock price dropped after the events of January 15th, we do not believe that the present stock price is indicative of the health of the company. The stock price does not impact our day to day operations as a company. With the injection of cash from the Leucadia financing, the core retail business is functioning completely as normal. We have excess regulatory capital in all our regulated entities and never had to pause trading or interrupt client’s trading experience. As we announced in our business update, daily volume on the retail side was on pace to set an all-time company record.
Why didn’t the dealing desk brokers have these types of losses?
A dealing desk broker does not have offsetting trades. If the customer is long a trade the broker is short that trade, so when the customer makes a profit on a trade the broker loses. When the customer loses on the trade then the broker is profitable.
Obviously on January 15th most clients lost money so the dealer was very profitable. Even for clients that blew through their stops and had negative balances with these firms, the dealer doesn’t have a liquidity provider that it owes money to. They can essentially act like the negative balances never happened and enjoy their profits.
What is FXCM changing with regards to their risk management systems?
The primary change we will be making is removing currency pairs from the platform that carry significant risk due to over-active manipulation by their respective government either by a floor, ceiling, peg or band. Given what happened with EUCHF the industry is now looking very hard at any potentially similar issues, especially given the increased geopolitical risks in Southern and Eastern Europe.
We will also be raising margin requirements for other pairs as well. Some of these changes will be permanent while others may change as geopolitical risks change. The pairs we are removing from the platform were not material to our volume or our revenue. Some of the currencies we are removing include DKK, SGD, HKD, PLN and CZK.
FXCM made some material changes in margin requirements for clients. Are those changes permanent or temporary in nature?
When you look at some of the changes we made to margin requirements, look at them in three different categories: 1. Some of the changes we made were required by regulators, and therefore we had to comply with these changes. 2. When you look at emerging market currencies, the banks and our liquidity providers were raising margin requirements to eliminate any potential risk of large gaps. 3. Previously liquid Western country currencies, like the DKK or CHF, which now carry risk because they are manipulated currencies, have become less liquid.
Despite what the media thinks about leverage, we know the clients like it and want more, it’s the number 1 or number 2 request our sales staff has been getting the past week. We understand the importance of this to our clients but we just need to be smart about it moving forward.
What is Black Thursday’s long-term impact on the retail foreign exchange industry? In what ways has it changed the direction the industry is going?
Banks are raising their margin requirements, too. A lot of these currencies that carry any type of geopolitical risk with them are going to lose support and liquidity. Investors always had little faith in emerging market currencies but always believed in Western countries’ currencies even if they were manipulated in some way, but that’s gone.
Switzerland is a Western country and if they can pull the shenanigans they did with their currency, what’s to say other western countries won’t do the same? The market is going to be very sceptical as they can only stand to lose; The risk is just too high now. It’s too bad really as these pairs historically had low volatility, were range-bound and were very profitable trades for clients.
submitted by JasonRogers to Forex [link] [comments]

Getting Started

Hey guys! I found a super cool list of everything a new forex trader would need to get started! Originally made by to nate1357. Link to original thread http://redd.it/328cjr
Free Resources
Education:
www.babypips.com/school
www.informedtrades.com/f7
www.forex4noobs.com/forex-education
www.en.tradimo.com/learn/forex-trading
www.youtube.com/useTheTradeitsimple
www.traderscalm.com
www.orderflowtrading.com/LearnOrderFlow.aspx
www.profitube.com
Calendars:
www.forexfactory.com/calendar.php
www.dailyfx.com/calendar
www.fxstreet.com/economic-calendar
www.forexlive.com/EconomicCalendar
www.myfxbook.com/forex-economic-calendar
www.investing.com/economic-calendar
Free News Websites:
www.forexlive.com - Daily live news, analysis and resources
www.financemagnates.com - FX industry news and updates
www.fxstreet.com - Daily news, analysis and resources
www.forextell.com
www.forexcup.com/news
www.bloomberg.com/markets
Forums:
www.reddit.com/forex
www.forums.babypips.com/
www.forexfactory.com/forum.php
www.elitetrader.com/et/index.php
www.forex-tsd.com/
www.fxgears.com/forum/index.php
www.trade2win.com/boards
Margin / pip / position size calculators
www.myfxbook.com/forex-calculators
Brokerages:
There are many factors to consider when choosing a brokerage. Regulations typically force US traders to only trade at US brokerages, while international traders have more choice. After considering location you need to consider how much capital you will start trading with as many have minimum deposit levels. Once you’ve narrowed that down you can compared spreads and execution. ECN brokers execute your orders straight through to their liquidity providers, while market maker brokers may pair up your trades with other clients. Market maker brokers typically will partially hedge your positions on the interbank market. Many consider this to be a conflict of interest and prefer to trade at an ECN broker who would have an active motive to see you succeed. Lastly, brokers run inherently risky business models so it is important to consider the risk of bankruptcy.
www.forexpeacearmy.com - Aggregates broker reviews. Be warned though that people only seem to make bad reviews.
www.myfxbook.com/forex-broker-spreads - Live comparison of executable spreads
United States & International-
-Interactive Brokers
International Only-
-LMAX (whitelabel DarwinEx)
*DMA broker based in the UK. Note that as a DMA broker LMAX eliminates the ability for LPs to last-look transactions. This may result in reduced liquidity during volatile times as liquidity providers would be likely not to risk posting liquidity to LMAX's pool. *Tight spreads *Minimum deposit $10,000 *Fairly well diversified
-Dukascopy
*ECN based in Switzerland, but available elsewhere depending on local regulations.
*Tight spreads *Minimum deposit $100 *Fairly well diversified
-IC Markets *ECN based in Australia *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Fairly well diversified
-Pepperstone
*ECN broker based in Australia. *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Not well diversified
Software / Apps:
Desktop/mobile
Terminology/Acronyms:
www.forexlive.com/ForexJargon - Common terms and acronyms
FAQ:
I need to exchange money, how do I do it?
This isn’t what this sub is for. Your best bet is using your bank or an online exchange service. Be prepared to pay a hefty fee.
I have money in one currency and need to exchange it into another sometime in the future, should I wait?
Don’t ask us this. We speculate intraday in FX and shouldn’t be relied on to tell you what’s best for you. Exchange the money when you need it.
I have an FX account, should I start trading demo or live?
This is highly debatable. You should definitely demo trade until you have mastered how to use the trading platform on desktop and mobile. After that it’s up to you. Many think that the psychology of trading live vs demo trading is massively different. So it may pay to learn to trade live. Just be warned that most FX traders lose almost their entire first account so start with a low affordable balance.
What’s money management?
Money management is a form of risk management and is arguably the most important aspect of your trading when it comes to long term survival. You should always enter trades with a stop loss - the distance of the stop allows you to calculate how large of a percent of your account balance will be lost if your trade stops out. You can run a monte carlo simulation to figure out the risk of having a number of trades go against you in a row to drain your account. The general rule is that you should only risk losing 1-4% of your account per trade entered.
More on this here: www.investopedia.com/articles/forex/06/fxmoneymgmt.asp[35]
www.swing-trade-stocks.com/money-management.html[36]
What about automated trading?
Retail FX traders have been known to program “Expert Advisors” (EAs) to automate trading. It’s generally advisable to stay away from that until you’re very experienced. Never buy an EA from a developer because the vast majority of them are scams.
What indicators are best?
That’s up to you to test and find out. Many in this forum dislike oscillating indicators since they fail to capture the essence of what moves price. With experience you will discover what works best for you. In my experience indicators that are most popular with professional traders are those that provide trading “levels” such as pivot points, fibonacci, moving averages, trendlines, etc.
What timeframe should I trade?
Price action can vary in different timeframes. In longer term timeframes the price action and fundamentals are much more clear. Unfortunately it would take a very long time to figure out whether or not what you’re doing is successful on longer timeframes. In shorter timeframes you can often tell very quickly if what you’re doing is profitable. Unfortunately there’s a lot more “noise” on these levels which can prove deceptive for those trying to learn. Therefore the best bet is to use a multi-timeframe analysis, working from top-down to come up with trades.
Should I trade using fundamental analysis (FA) of technical analysis (TA)?
This is a long standing argument in these forums and elsewhere. I’ll settle it here - you should have an understanding of both. Yes there are traders who blindly ignore one of the other but a truly well rounded trader should understand and implement both into the analysis. The market is driven in the longer term through FA. But TA is necessary to give traders a place to enter and exit trades from a psychological risk/reward standpoint.
I’ve heard trading Binary Options is an easy way to make money?
The general advice is to stay away from binaries. The structure of binary options is so that when you lose the broker wins. This incentive has created a very scammy industry where there are few legitimate binary options brokers. In addition in order to be profitable in binaries you have to win 55-65% of the time. That’s a much higher premium over spot FX.
Am I actually exchanging currencies?
Yes and no. Your broker handles spot FX is currency pairs. Although they make an exchange at the settlement date they treat your position in your account as a virtual currency pair. Think of it like a contract where you can only buy or sell it as a pair. In this sense you are always long one currency while short another. You are merely speculating that one currency will appreciate or depreciate vs another.
Why didn't my order fill?
Even if price appears to cross over a line on your chart it does not guarantee a fill. Different charting platforms chart different prices - some chart the bid price, some the ask price and some the midpoint price. To fill a limit order price needs to cross your limit's price plus the spread at the time that it is crossing. If it does not equal or exceed the spread then it will not fill. Be wary that in general spreads are not fixed. So what may fill at one time may not at another.
submitted by ClassicalAnt6 to TeamOceanSky [link] [comments]

FXCM - YouTube FXCM Forex Broker Closed to USA Clients! Which Forex ... FXCM Visits the New York Stock Exchange ¿Por qué operar Forex?  FXCM FXCM Español - YouTube

FXCM 23,106 followers on LinkedIn. Global Forex and CFD Broker since 1999 FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, spread betting and related services. Forex Exchange Rates Currency Pairs Commodities Indices Cryptocurrencies Live Currency Rates For active forex traders, tracking live currency rates in real-time is an essential part of engaging the market competently. Streaming market-direct data via ... FXCM, or Forex Capital Markets, is a UK-based broker offering forex and CFDs trading. FXCM was established in 1999 and is 100% owned by the Jefferies Financial Group, which is listed on the New York Stock Exchange and has a background in investment banking. With over 20 years of experience, FXCM is one of the oldest spot forex and CFDs brokers. The broker is listed in the NASDAQ stock exchange and has headquarters in the United Kingdom. Its main target markets include Europe, Asia, the Middle East, and Africa. FXCM stopped operating in the US in 2017. Broker Intro. FXCM was launched in 1999 and currently operates in over 50 countries. It is among ... FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, spread betting and related services. Founded in 1999, the company’s mission is to provide global traders with access to the world’s largest and most liquid market by offering innovative trading tools, hiring excellent trading educators, meeting strict financial standards and striving for […] FXCM ist einer der größten Forex-Broker der Welt und bereits seit über 20 Jahren (1999) am Markt. Das Unternehmen mit Hauptsitz in London war bis zum 15. September 2016 an der New York Stock Exchange (NYSE) gelistet (mittlerweile an der NASDAQ) und verfügt unserem FXCM Testbericht zufolge über Niederlassungen in zahlreichen Ländern, seit 2010 auch in Deutschland. FXCM offers a limited selection of CFDs, while its vast access to exchange-traded securities is segmented away in a different account and platform. Meanwhile, we found commissions for forex and CFD trading to be slightly higher than the industry average, including for active traders. Overall Summary. Rank: 9th (of 30) Feature FXCM; Overall: 4.5 Stars: Trust Score: 92: Offering of Investments ...

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FXCM - YouTube

FXCM Inc. (NYSE: FXCM) is a leading online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide. At the heart of FXCM's client ... The FXCM group of companies (collectively, the "FXCM Group") is a leading provider of online foreign exchange (forex) trading, CFD trading, spread betting an... The FXCM group of companies (collectively, the "FXCM Group") is a leading provider of online foreign exchange (forex) trading, CFD trading, spread betting an... The FXCM group of companies (collectively, the "FXCM Group") is a leading provider of online foreign exchange (forex) trading, CFD trading, spread betting an... Brexit, gold, oil, gap, forex news, trading, exchange rate, forex analysis, fx, euro to dollar, forex review, forex trading, fxcm, charts, money, currency, e... This video provides a brief explanation of forex trading. Learn more about forex with a risk free trial at FXCM: https://www.fxcm.com/demo/ The foreign excha... El grupo de compañías de FXCM (colectivamente, el "Grupo FXCM") es un proveedor líder de intercambio de divisas (forex) en línea, intercambio de CFD, spread ... Contact me via the email in the video. (video is a bit out of sync in 2nd half, will upload new version soon). -- [email protected] -- UPDATE: Here is a lin... Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world's currencies trade. The forex market is the largest, most liquid market in the ... El mercado de divisas o Forex abreviado en inglés (“Foreign Exchange”), es la compra y venta de divisas, y es uno de los mercados con más rápido crecimiento en el mundo.

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