I am a newbie and need some advice.

[PittsburghFX]

In regards to demo success, do not even think that it will be close to live progress. It simply won't. The demo is a great tool to understand the market and trading, but when real money is on the line, don't ever expect that up and down swing. If you do, odds are you were like my clients, they blew up in 2 months on average. You are on the right track and if thier is anything I can do please let me know.

brian@pittsburghfx.com

Brian Summy

[TazExprez]

I just downloaded your demo account application for FXCM. I will give it a go and see how it is. Btw, there is a lot of mention of slippage around here. My demo account never got any, but I assume that hasn't happened because it's a demo account. How is the slippage for FXCM? Also, is there any downtime with FXCM? Thanks again.

[PittsburghFX]

While working at FXCM, we had about 3 very bad days, thats it. most brokers go down once a week or more. CMS is everyother day. FXCM is no slippage guaranteed. I never have seen slippage on our system. If you are interested anymore please check my website. I do have some resources that might help.

PittsburghFX

[Cable]

PittsburghFX, apologies for this offtopic question but, as someone who seems to be very much on the inside with FXCM, do you have any idea why their Adjusted Net Capital (see CFTC financial data for FCMs) has gone from $US 30 million down to $US 6 million in a matter of 3 months ?

[CGM1]

Hey Taz,

I got a few ideas. First, read all you can since there are quite a few non U.S. factors which affect the FX market.Second, find a reputable house/platform. When in doubt check with the NFA. www.nfa.futures.org. Click on the BASIC tab and put in the firms' name. I did this myself when checking firms. The one I found and liked/chose was Forex Direct Dealer. They are in New York as a matter of fact and when I contacted them they invited me to come see the operation, which I did. I think you will find the spreads to be competitive and the service to be first rate. The guy I spoke with initially was Tom O'neil. 866-367-3933.
Good Luck. If you have other questions, let me know.

[gregh285]

While working at FXCM, we had about 3 very bad days, thats it. most brokers go down once a week or more. CMS is everyother day. FXCM is no slippage guaranteed. I never have seen slippage on our system. If you are interested anymore please check my website. I do have some resources that might help.

No slippage on Stop Orders only, no guarantee on limts

[CTGJr]

from FXCM

Thank you for your interest in FXCM. As a result of our increased trading
activity in overseas markets, namely our Hong Kong office, we are being required
to post more-and-more of our own money in secured deposits to meet SFC
regulatory requirements.

FXCM total adjusted net capital worldwide exceeds $40,000,000+ USD, and this
has not changed in recent history. The CFTC report only shows US deposits, and
FXCM is a global company with offices in New York, London, Hong Kong and Tokyo.
The fact of the matter is, that we are regulated in 3 continents, unlike other,
much smaller FX market makers. As a result of our meeting multiple regulatory
standards, we must comply with three times the regulatory demands of smaller,
less regulated market makers. FXCM US funds that are monitered by the CFTC,
shall return to normal as of next month. To view a copy of the FXCM balance
sheet, you may do so here:

http://www.fxcm.com/balance-sheet.html
balance sheet

[PittsburghFX]

Originally posted by Cable
PittsburghFX, apologies for this offtopic question but, as someone who seems to be very much on the inside with FXCM, do you have any idea why their Adjusted Net Capital (see CFTC financial data for FCMs) has gone from $US 30 million down to $US 6 million in a matter of 3 months ?

That is almost not possible. We signed up accounts in the thousands per month. They have the best platform, it was even voted best by FX weekly magazine. All adjusted Net Cap numbers should be updated every month or every 2 months. That cannot be true. FXCM has emerged the global leader hands down. I know that people were very disappointed about the conditions of trading off of news and stuff, but they have since changed back to normal. This market has been very very hectic in the past year so they had to simply manage the business.