20 TOP MT4 FAQs (Last Updated 9/23/2008)
What is the minimum to open an account?
FXCM's MetaTrader was launched on September 22, 2008. The minimum was raised to $5,000 from $2,000 as the platform is no longer in its limited beta release phase. Posts regarding minimums made before the launch date should be disregarded.
How do I open a live account?
You can fill out the MetaTrader specific application referencing MTI Mini Account (MTI1). If you are an existing account holder you can fill out the transfer form.
Online Application:
https://secure2.fxcorporate.com/fxtr/?ib=MT_FXCM
Will I be able to open a EUR, GBP, AUD, CAD or JPY MetaTrader accounts?
For the time being we are only opening MT4 USD Mini accounts.
How do I register for a demo account?
Demo accounts are not available at this time. Attention and resources are currently being put towards live trading. We plan to have demo accounts activated when we feel confident that the program can handle sufficient volume. At that time demo accounts will be available to all clients who download the software on the MetaTrader home page.
MetaTrader home page.
Will hedging be automatically enabled?
Yes.
Will I be able to download the software on my Macintosh computer?
The MT4 software will only be available for Windows based applications.
Will I have access to DailyFX+?
Yes. All FXCM live account holders have access to DailyFX+View a tutorial of the site here:
DailyFX+ Walkthrough
Will I be able to trade in 1K lots?
The minimum trade size with FXCM is 10K.
Will I be able to manage other people’s accounts?
Initially FXCM will not be offering the MT4 MultiTerminal software. This is a feature that we may be offering in the future.
Will I be able to use the MT4 and FXTS software interchangeably?
You will not be able to access the MT4 software and the FXTS software via the same login. You can however open two separate accounts with FXCM if you wish to have access to both.
Will fractional pips be offered on MT4?
Yes.
Will one-click/double-click features be available on MT4?
No. This feature is only available through the FX Trading Station.
Will MT4 allow for partial fills on large orders.
No. This is a limitation of the MetaTrader software.
Will there be order size limits on MT4?
Yes. There will be a 2 million order size limit (2000K, 200 mini lots, 20 standard lots). FXCM is imposing this limit in anticipation of a higher rejection rate as the MetaTrader software has limitations which prevent it from incorporating partial fills.
Will phone orders be allowed?
Phone dealing is available but only to place stops/limits to close an open position. Market orders or stop/limit entries are not available via phone.
Will I be able to upload my Expert Advisor?
Yes.
Will I have access to SMS and email?
The initial release of the platform will not offer SMS alerts and email alerts.
Will my client terminal need to be on for the trailing stop to execute?
Yes. This is a limitation of the MetaTrader software. This is not the case when trading via FXCM’s FX Trading Station.
Will I be able to use MT4 via my PDA?
This capability will not be available for the initial release.
Can I have two accounts show in the MT4 client terminal?
Only one account will show at a time in the MT4 Client Terminal.
Does MT4 have the same NDD price feed as the FX Trading Station?
Yes.
FXCM PROGRAMMING SERVICESWhat Programming languages do you offer?
Our programmers are able to help clients implement their automated strategy designs on platforms such as TradeStation, MetaTrader, among other, upon request.
What is the cost for programming services?
The standard hourly service rate is $100.
What are some examples of application created by the FXCM Programming Services Team?
The following are examples of basic applications that FXCM has created that illustrate the diverse abilities of the FXCM Programming Services Team.
- Orders2Go FXCMRTD is an application developed using Visual Basic which allows users of Microsoft Excel to extract trading information such as bid, ask, high, low, contract size and other related information from their trading account.
- Order2Go Alerter emails traders when a trade is either opened or closed, or when a pre-set price is reached.
- FXCM Rates & News is a Google desktop gadget that update rates and news in real-time.
Where can I access and download APIs?
Users with API access can download permitted APIs on FXProgrammers.com. Other users can view details and request access to the available APIs.
Click Here for more information on FXCM Programming Interfaces (APIs).
How can I get started with FXCM Programming Services?
If you would like FXCM Programming Services to develop custom software for your trading or have questions regarding project possibilities please e-mail
consulting@fxcm.com or via telephone at
212-897-7660, ext. 719085.