Alternative brokers for FXCM

[NinjaTrader_James]

Hello All,

NinjaTrader now offers Oanda for those who may want to trade forex with NinjaTrader. For more information please feel free to visit our website here: https://ninjatrader.com/

[Magiklair]

It's a shame - I purchased NT but there is nowhere to use it besides Gain and I'd rather not trade at all than go with them.

I'm with Oanda now and like it. I purchased Motive Wave and have never looked back. Amazing software.

Time to wake up Ninja Trader.

Yes, Motive wave is a good platform at very good price.

[Segwin]

It's a shame - I purchased NT but there is nowhere to use it besides Gain and I'd rather not trade at all than go with them.

I'm with Oanda now and like it. I purchased Motive Wave and have never looked back. Amazing software.

Time to wake up Ninja Trader.

[Magiklair]

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?

They are a nightmare, use a your own risk. When I heard the news, I immediately took my funds out of FXCM.. Hopefully we can get oanda soon

[Magiklair]

Any update?

Forex.com is basically a criminal bunch. When a well-known trader posts a YouTube video about his experience with them. I will be sure to post it or let the folks at ninja trader know about it. I can't believe you are basically forcing any clients to use them. It's a sad state of affairs.

[Magiklair]

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…

[Segwin]

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.

[Magiklair]

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.

[AndyTheBear]

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.

[Magiklair]

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.

[Magiklair]

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..

[Segwin]

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).

[Magiklair]

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

[Magiklair]

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.

[NinjaTrader_Jason]

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.