Hi all,
FYI, I've received a notice that unless I opt out by April 23, on April 24 FXCM will convert my account from NDD/ECN to Dealing Desk/Market Maker. They say this is due to demand and the new account will have lower costs and 400:1 leverage. However, in the fine print it also says no EA's and no API, which = No Zorro!
Has anyone else received this notice?
Thanks.
From the German FXCM fraction I did not receive a mail with this content so far, maybe it's only a question of time. I guess "opt out" means to exit FXCM? DD is against their promotion but they changed already a lot since 1/15, but "no API" and "no Zorro" sounds not really good.
I also haven't received such a mail from the german part of FXCM. Will also post if I will and also the result of it.
FXCM Germany announced that they will automatically change 'little' accounts to the 'new mini accounts' (that means FOREX dealing desk too) since 18th of December this year but you can opt-out via formular. This concerns only to accounts of mine with a balance of 0 (which should have been closed already) and does not to another one with 2.5 K. I don't know what FXCM regard as 'little'.
Hi Everyone,
FXCM's offer to switch accounts to the new Mini account setup was only extended to Standard accounts with a balance less than 2K. That's because a Mini account has lower margin requirements (0.25% for up to 400:1 leverage except in the US where regulations limit leverage to 50:1) allowing you to place more trades with a lower balance. By contrast a Standard account requires at least 1% margin for a maximum of 100:1 leverage.
