FXCM Plugin

The included FXCM plugin allows direct trading with Forex Capital Markets LLC on demo and real accounts, without the need to install the MTR4 platform. FXCM offers some advantages, such as index and commodity CFDs, free tick-based, good-quality historical price data, a free API, and no minimum monthly investments.

For opening a FXCM demo account, visit http://www.fxcm.co.uk and click on Free FXCM Practice Account. When you enter a different FXCM page, be aware that there are several demo account types - the best is a normal practice account with currencies and CFDs (if available for your country). If possible, activate hedging for your account. If you live in the US, they will normally only offer you a no-hedging, no-CFD account; you have to activate NFA compliance in that case for trading with the FXCM API. The demo account will normally expire after a month of no trading, but can be renewed indefinitely by opening a new demo account.

User FXCM Account ID
Password FXCM Password

FXCM symbols

Asset names from the default AssetsFix.csv are directly used for FXCM symbols. No conversion is needed.

Additional data

The FXCM plugin supports the following data streams:

Supported broker commands

The FXCM plugin supports the brokerCommand function with the following commands:

Known FXCM API issues

You can trade with FXCM either through the MTR4 bridge, or with a direct API connection through the FXCM plugin. Direct API connection is preferable due to higher speed and lower spreads. Compared with other APIs, the FXCM "FxConnect" API is relatively fast and allows unlimited price history access. The main issues of the FXCM API (version 1.31) are:

Error messages

Here's a list of explanations from FXCM for some of their error messages:

ORA-20103 - Session expired: Your connection has been lost. This error message could be displayed due to a number of reasons, including network instability, a system issue or a program crash. If the problem is a system issue, please try to reboot.

ORA-20143 - Order price too far from market price: This error message is generated when the Buy Limit price is above the Bid price.

ORA-20112 - Limit price did not pass validation: This error message is generated when the Limit price does not correspond to the ask price for the order type required. Ff the Time in Force is IOC or FOK then the Buy limit price should be >= Ask price.

ORA-20113 - Insufficient margin in session: This error message is generated when you don’t have enough margin.

ORA-20102 - Access Violation: This error message is generated when a trade account is missing from the dealer account.

ORA-20105 - Order price did not pass validation: The rejected orders error message is generated when the stop price is too close the the ask price. For example, if the Ask price was 9911 and your Stop price 99=9917, you would receive this error message.

ORA-20008 - Failed to create order, primary validation: This error message is generated when Range prices are below the Ask price. For example if orders were placed on news events, and the spreads got wider.

How can I tell what account type I have? Checking on Trading station: To check the type of account you have, you can login to Trading station and look in the tab “Accounts”. Scroll to the end and find column Type. Y = Hedging is allowed; N = Hedging is not allowed, O = Netting only, D = Day netting, F = FIFO.

See also:

Links, order, brokers, broker plugin, MTR4 bridge, IB plugin

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