FXCM Charts Application

Discussion in 'Forex Brokers' started by MrX, Jul 10, 2003.

  1. MrX


    Hey guys, about a week ago someone posted the link to FXCM's beta chart application. I can't seem to find it again does anyone have it?

    It was something line http://www.fxcorporate.com/fxcm/????.exe

  2. brad1970


    Is the FXCM app enough to trade forex? Or should someone waste money on Esignal / Tradestation as well?

    I'm using both, but its hard to trade off the Esignal platform and FXCM since the spreads are different, off by as much as 5 pips.
  3. Brad1970:
    first: which broker do you want to open and fund an account with and trade through ?

    next: do you have a particular realtime charting program you want to use ? if yes, then you have to provide it with realtime price data.
    FXCM’s Trading Station chart plugin is available simply because they provide a feed of their price data. Data feed is $40US/month, limited to (?) the TradeStation or MetaStock programs via a DDE data capture utility MetaServer which you would need to purchase for $99US (verify above with FXCM).

    The FXCM charting plugin is not a full featured program. FXCM also provide a choice of 4 or 5 free for use charting programs, (see ‘Charts’ on the menu of their homepage) which may satisfy your charting requirements.

    As to the difference between the FXCM price quotes and any other data feed’s prices, the difference is neither here not there and not anyway tradeable, one can only trade the price a broker’s trade entry program provides, so the difference is to be ignored. Many times the broker’s trade entry price quote will be ‘static’ while charting prices will be bouncing up and down, this is because the broker’s program has to have a spread built into the Buy/Sell quote on the user trade entry program. The spread and price the broker will accept an order at while price dependant, is also dependant on the programming instructions that matches their spread with the market’s prices and tradeable prices to be quoted – online fx trading and order entry is software dependant and ‘controlled’, not open bid such as a futures pit.

    What’s important is the broker you choose provides immediate execution of orders without requoting, as well as satisfying your other criteria. If you’re primarily a ‘chartist’, you do the price analysis, and base your trades, on the prices from the charting software of your choice, entering your trades via the broker’s trading platform at the market price provided there, or use limit orders. Wallace.