Questions and Answers - DailyFX Forex Forum

Walker E. · #1 (**permalink**) 05-05-2009, 02:43 PM

If you have any questions about the new regulations, or their effect on your risk management, to contact us. You may do so at info@fxcmmicro.com. You can also post your questions here on the FXCM Micro forum !

imported_Bigpips · #2 (**permalink**) 05-05-2009, 04:03 PM

Quote:

Originally Posted by moderator2

There are a few new regulatory changes that are being made. Check out our new section regarding regulations and their changes here.

Micro Regulation Changes

You will learn that only hedging rules are being implemented on the 15th. Please join us on this section of the forum and we would be glad to answer all of your concerns.

Walker

Besides stopping hedging, I have heard that NFA will not be allowing stop and limit orders on open positions either, as this conflicts with their FIFO (first-in, first-out) new May 17th policy.

For now this new law is rather confusing, to say the least.

Walker E. · #3 (**permalink**) 05-06-2009, 08:06 AM

NFA has received several requests to extend the effective date due to the complexity of the programming changes required to comply with the FIFO requirement. After considering those requests, NFA has decided to extend the effective date for the FIFO part of the rule until July 31, 2009. Therefore, FDMs may not carry offsetting positions in the same account if either of those positions was established after May 15, 2009, but FDMs may offset positions on some basis other than FIFO through July 31, 2009.

Walker

jiva34 · #4 (**permalink**) 05-06-2009, 09:53 AM

Hedging is a great way to protect the investment from temporarily unexpected swings against the main trend...
It helps to preserve margin and allows for increased profits by cashing in on the hedge when the tide turns back again...
So what is the real reason the US regulator is making it so difficult to trade forex?
Doing this just to be able to say that they are regulating since US regulators have done a miserable job of overseeing investment markets the last several year...
I don't see how stopping hedging is protect investors. It is hurting investors... Now the risk is huge..... No safety net...
Hope London regulators are more investor friendly...
What is the real reason?

Inthezone · #5 (**permalink**) 05-06-2009, 12:22 PM

Question on FXCM UK Micro and King of the Micro contest

If we move our Micro lot accounts to the UK will we still be eligible for the King of the Micro Competion every month and the prizes?

I think this is important to add in the emails that we received with the transfer forms.

Thank you very much for your time.
In the Zone

Walker E. · #6 (**permalink**) 05-06-2009, 01:11 PM

Quote:

Originally Posted by Inthezone

Question on FXCM UK Micro and King of the Micro contest

If we move our Micro lot accounts to the UK will we still be eligible for the King of the Micro Competion every month and the prizes?

I think this is important to add in the emails that we received with the transfer forms.

Thank you very much for your time.
In the Zone

Inthezone,

At this time there are no planned changes being made to the King of the Micro contest and all micro clients will be elgible pending the current rules to participate. If any changes to the contest are made there will be an announced prior to the following month's competition. We appreciate your feedback and let us know if you have other questions or concerns.

Walker

evanmcb · #7 (**permalink**) 05-06-2009, 02:22 PM

Will there be a way to withdraw funds from a UK micro account online? Right now it looks as though a physical form has to be mailed or faxed:

FXCM - Withdrawal requests

And the form says personal checks cannot be sent in US dollars? Will this change, and what will be the fee associated with such a request?

hegeduszoli · #8 (**permalink**) 05-06-2009, 04:23 PM

Dear Micro:

I came to Micro because of hedging, spreads, one-click trading and the
good platform (Trading Station II.) I've already noticed that if i
transfer my account to FXCM UK i can use the same platform and my
password remains the same. My problems how the charges are changing.
The most important the spreads. I trade as a scalper. My trades with
10 pip TP usually and if i cannot hedge the positions or the spreads are
growing it means i'm not able to trade. So if i have to transfer my
account to keep hedging i want the spreads too. Are the spreads
remains the exactly same like before? So i won't notice any changes
after the account transfer to FXCM UK?

Thanks

hegeduszoli

howar80403 · #9 (**permalink**) 05-06-2009, 09:36 PM

Will our accounts continue to be a micro after the transfer?

howar80403 · #10 (**permalink**) 05-06-2009, 09:40 PM

Quote:

Originally Posted by moderator2

Inthezone,

At this time there are no planned changes being made to the King of the Micro contest and all micro clients will be elgible pending the current rules to participate. If any changes to the contest are made there will be an announced prior to the following month's competition. We appreciate your feedback and let us know if you have other questions or concerns.

Walker

Does that mean our accounts will remain a micro after the transfer?

imported_Bigpips · #11 (**permalink**) 05-06-2009, 10:02 PM

Quote:

Originally Posted by hegeduszoli

Are the spreads
remains the exactly same like before? So i won't notice any changes
after the account transfer to FXCM UK?

I don't see how your account transfer to FXCM UK could widen the spreads, after all FXCM customers receive the same data feed price worldwide.

hegeduszoli · #12 (**permalink**) 05-07-2009, 06:51 AM

Quote:

Originally Posted by imported_Bigpips

I don't see how your account transfer to FXCM UK could widen the spreads, after all FXCM customers receive the same data feed price worldwide.

I tried a demo FXCM UK spread betting. It's 1pip wider on EUR/USD. Typical spread on EUR/USD at Micro is 1.5pip and the same at SpreadBetting is 2.5pip.
And every account type has different spread. For example if you have an active trader account you'll have better spreads than Micro.

Walker E. · #13 (**permalink**) 05-07-2009, 07:01 AM

Quote:

Originally Posted by evanmcb

Will there be a way to withdraw funds from a UK micro account online? Right now it looks as though a physical form has to be mailed or faxed:

FXCM - Withdrawal requests

And the form says personal checks cannot be sent in US dollars? Will this change, and what will be the fee associated with such a request?

Great question ! We are actually working on automating this now. I will give you more updates on deposits and withdrawals as the new system is implimented.

Walker

Walker E. · #14 (**permalink**) 05-07-2009, 07:04 AM

Quote:

Originally Posted by hegeduszoli

I tried a demo FXCM UK spread betting. It's 1pip wider on EUR/USD. Typical spread on EUR/USD at Micro is 1.5pip and the same at SpreadBetting is 2.5pip.
And every account type has different spread. For example if you have an active trader account you'll have better spreads than Micro.

When moving your account to trade your micro account through UK ltd. you will be executing using the same pricing and execution model you are already familiar with. For that matter the software is the same too. Also please note , this will not be a spread betting account .

Walker

hegeduszoli · #15 (**permalink**) 05-07-2009, 02:40 PM

Quote:

Originally Posted by moderator2

When moving your account to trade your micro account through UK ltd. you will be executing using the same pricing and execution model you are already familiar with. For that matter the software is the same too. Also please note , this will not be a spread betting account .

Walker

Thanks thats great! So nothing is changing except the firm?

Z