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    Alternative brokers for FXCM

    Hi,

    Since FXCM was banned running business in US, trading forex with them is no longer an option. With that being said, what brokers do ninjatrader support? I realized that Ninjatrader used to support Gain Capital Forex.com broker? However, I can't find it on https://ninjatraderecosystem.com/Brokers. Does it mean that Ninjatrader no longer support Gain Capital Forex.com on NT platform?

    #2
    Hello edricoon,

    Gain Capital/Forex.com is supported. Please see the link below for information regarding the FXCM transition.
    http://ninjatrader.com/FXCM_FAQ
    JasonNinjaTrader Customer Service

    Comment


      #3
      I'm trading forex with FXCM on outside US on NT7 and due to the bad practice of FXCM, I don't want to trade with FXCM anymore. Hence, I would open a new account with Gain Capital Forex.com and wonder if my NT license can be transferred to Gain Capital? My current FXCM NT7 license will only expire in April 2017.

      Comment


        #4
        Yes, please send us an email at platformsales[at]ninjatrader[dot]com requesting the license key change. The sales team is currently not in the office, but will be later today during US business hours.
        JasonNinjaTrader Customer Service

        Comment


          #5
          I just had a chat with Forex.com to open an account with them. However, they told me that they no longer support Ninjatrader with new account?

          Chat history was as below

          Please wait for a site operator to respond.
          You are now chatting with 'Alicia'
          Alicia: Hello Edric, welcome to Client Services. May I have your email address to better assist you?
          Edric: can i run premium account on NINjatrader?
          Edric: [email protected]
          Alicia: Unfortunately, we no longer offer the Ninjatrader platform.
          Edric: I have asked Ninjatader, and they told me that they support Forex.com
          Alicia: We used to support it. However, we no longer open new account through Ninjatrader.
          Edric: Oh I see. Can I open premium account with ForexTraderPro, and then I personally run it on Ninjatrader, since Ninjatrader support Forex.com.
          Alicia: You can open a premium account on ForexTraderPro.
          Alicia: However I can not guarantee that it will work on NinjaTrader.
          Edric: http://ninjatrader.com/FXCM_FAQ
          Alicia: That is if you already have an account.
          Edric: So I cannot trade forex with Forex.com on Ninjatrader at all?
          Alicia: Correct. Unless you have already had an account previously.
          Edric: too bad!! Are there any ways to trade with you guys on Ninjatrader please? I'm looking for good broker supporting Ninjatrader, there are not many options left..
          Alicia: Unfortunately, you would need to contact Ninjatrader regarding who they work with.
          Alicia: We no longer open new accounts with them.

          Are there any others way to link the account on NT side?

          Comment


            #6
            Unfortunately the FXCM transition only applies if you have an US based account and not when you open a new account with Gain Capital/Forex.com. We also support forex trading with Interactive Brokers.
            JasonNinjaTrader Customer Service

            Comment


              #7
              Originally posted by NinjaTrader_Jason View Post
              Unfortunately the FXCM transition only applies if you have an US based account and not when you open a new account with Gain Capital/Forex.com. We also support forex trading with Interactive Brokers.
              Interactive brokers does not allow for leveraged trading in the US. So that's not really an option for most people. It's fine for those outside the US.

              Comment


                #8
                Originally posted by Magiklair View Post
                Interactive brokers does not allow for leveraged trading in the US. So that's not really an option for most people. It's fine for those outside the US.
                Will there be some news this week as noted on the ninja trader website?

                We are also currently working on finalizing an additional brokerage option for NinjaTrader users and expect more details to be available the week of February 20th.

                As I'm looking for a decent broker for Forex trading and NT. (Besides Gain Capital)
                Thanks

                Comment


                  #9
                  Originally posted by Magiklair View Post
                  Will there be some news this week as noted on the ninja trader website?

                  We are also currently working on finalizing an additional brokerage option for NinjaTrader users and expect more details to be available the week of February 20th.

                  As I'm looking for a decent broker for Forex trading and NT. (Besides Gain Capital)
                  Thanks
                  I was with FXCM so I was stuck the same as everyone else. I checked into Forex.Com/Gain but they are a dealing desk. I pulled my funds and went with Oanda. They're not a dealing desk and their customer service as compared to FXCM is like a breath of fresh air. Only downside is you have to go with MT4 (however there are some rumors that they might be able to offer NT support but it is only speculation at this point).

                  Comment


                    #10
                    Originally posted by Segwin View Post
                    I was with FXCM so I was stuck the same as everyone else. I checked into Forex.Com/Gain but they are a dealing desk. I pulled my funds and went with Oanda. They're not a dealing desk and their customer service as compared to FXCM is like a breath of fresh air. Only downside is you have to go with MT4 (however there are some rumors that they might be able to offer NT support but it is only speculation at this point).
                    Yes, I did the same. Wired by money out, went to Oanda. Hoping for in NT support. Otherwise maybe switch to MultiCharts or MotiveWave..

                    Comment


                      #11
                      Just looking at NT website http://ninjatrader.com/FXCM_FAQ

                      They have removed the previous sentence
                      We are also currently working on finalizing an additional brokerage option for NinjaTrader users and expect more details to be available the week of February 20th.

                      Now it reads

                      We have partnerships with both GAIN Capital/FOREX.com (NinjaTrader 7 and coming soon for NinjaTrader 8) and Interactive Brokers (non-US) to support forex traders.

                      – –

                      If there is no news that is going to be quite disappointing...Response below

                      New connection technologies require extensive internal development and testing before we can release them for use to our clients. Support for Oanda is currently under development however I have no timeline on when this will be completed.
                      Last edited by Magiklair; 02-22-2017, 03:04 PM.

                      Comment


                        #12
                        Forex.com monthly data looks bad

                        Trying to figure out best option for forex trading in my situation.

                        * I am based in the U.S. and a non-professional part time forex-only trader trying to learn to trade well. I already have a lifteime NT license that I got to trade with Interactive Brokers before they stopped supporting margin in forex. I switched to using FXCM with their platform, but now find myself transferred to forex.com/GAIN capital.

                        * Good data and good analysis of the data is essential to the approach I am learning for trading. However the forex.com monthly data is broken. It is full of ridiculous gaps between months that one can instantly tell is wrong. It makes me leery about the correctness of the data they provide for time-frames that I can't instantly tell is wrong.

                        * I wish to keep my monthly costs down. NT is a good platform certainly, but I don't know what broker and data is my best option with it. I am not optimistic about data coming from forex.com. And I am not thrilled at the price of data from kinetick. It seems there are no great options. I might as well open a small not forex account with tradestation and pay the 100 dollars a month for a non-active user of their brokerage.

                        If anyone knows some good options, please share them. Thank you.

                        Comment


                          #13
                          Originally posted by AndyTheBear View Post
                          Trying to figure out best option for forex trading in my situation.

                          * I am based in the U.S. and a non-professional part time forex-only trader trying to learn to trade well. I already have a lifteime NT license that I got to trade with Interactive Brokers before they stopped supporting margin in forex. I switched to using FXCM with their platform, but now find myself transferred to forex.com/GAIN capital.

                          * Good data and good analysis of the data is essential to the approach I am learning for trading. However the forex.com monthly data is broken. It is full of ridiculous gaps between months that one can instantly tell is wrong. It makes me leery about the correctness of the data they provide for time-frames that I can't instantly tell is wrong.

                          * I wish to keep my monthly costs down. NT is a good platform certainly, but I don't know what broker and data is my best option with it. I am not optimistic about data coming from forex.com. And I am not thrilled at the price of data from kinetick. It seems there are no great options. I might as well open a small not forex account with tradestation and pay the 100 dollars a month for a non-active user of their brokerage.

                          If anyone knows some good options, please share them. Thank you.
                          Hello,
                          Yes, Forex.com/Gain Capital is not where you want to be.. There numerous reasons why besides data feed. But the main reason why is they have a dealing desk. Meaning they take the other side of the trade and want you to lose. Whereas other brokers have non-dealing desks like Oanda The best US Forex broker is Oanda. An affordable chart trading software platform is Motivewave trader for $295 and they support Oanda.. They also offer a free trial.
                          Last edited by Magiklair; 02-26-2017, 03:52 PM.

                          Comment


                            #14
                            Originally posted by AndyTheBear View Post
                            Trying to figure out best option for forex trading in my situation.

                            * I am based in the U.S. and a non-professional part time forex-only trader trying to learn to trade well. I already have a lifteime NT license that I got to trade with Interactive Brokers before they stopped supporting margin in forex. I switched to using FXCM with their platform, but now find myself transferred to forex.com/GAIN capital.

                            * Good data and good analysis of the data is essential to the approach I am learning for trading. However the forex.com monthly data is broken. It is full of ridiculous gaps between months that one can instantly tell is wrong. It makes me leery about the correctness of the data they provide for time-frames that I can't instantly tell is wrong.

                            * I wish to keep my monthly costs down. NT is a good platform certainly, but I don't know what broker and data is my best option with it. I am not optimistic about data coming from forex.com. And I am not thrilled at the price of data from kinetick. It seems there are no great options. I might as well open a small not forex account with tradestation and pay the 100 dollars a month for a non-active user of their brokerage.

                            If anyone knows some good options, please share them. Thank you.
                            Talk to the people at Oanda. I've been pleased so far with their service. Ninja Trader seems to be a option in the near future. In the mean time use Metatrader 4. Not the best solution but it's the best of a bad situation.

                            Comment


                              #15
                              Originally posted by Segwin View Post
                              Talk to the people at Oanda. I've been pleased so far with their service. Ninja Trader seems to be a option in the near future. In the mean time use Metatrader 4. Not the best solution but it's the best of a bad situation.
                              Yeah it's all right. Well don't have to purchase motivewave, right away as they offer a 30 day trial

                              By then hopefully NT will have things set up for everyone soon…

                              Comment

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