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FXCM Micro Trading Station II review

I use fxcm micro with their trading station II.

I like it. I am doing manual trades and I set up limits, and then have a stop and a series of targets combined as OCO orders.

I am happy with the charting. I just started looking in to MT4 which they no longer offer for US customers this is going to be the only reason I will change from them.

I am still losing on my trades overall, but this is the best account I have as far as normally good spreads and I do like the tenths of pips.

There is an issue with spreads during the swap time (5 pm EST) it can go bonkers. I like EUR/JPY and it can change from 3.7 to as high as 15 pips for as long as 2-3 minutes until it gets all the way back down to 4 or so.

I usually get out of a trade unless I decide that I don't care based upon what has transpired and how much longer I plan to be in the trade. It is usually either the bid dissapearing or the ask not both, since you are graphing only one often you don's see it so you must switch to the tick chart or back and forth between bid and ask price charts to see the problem.

I just saw a spike at 5:20-5:21 7/6/2010 up to 9.3 pips on EUR/USD spread as the bid dropped out while the ask just stayed put. The EUR/JPY spread at the same time was 3.2 and USD/JPY was 3.5. This is just impossible logically, but it certainly happened. It is like they have multiple markets they are tied into and lost all the data for that market but not the others, because a low spread in two should negate the possibility of a high spread in the third. But it certainly didn't. Considering any position can be created by combination of the other two positions they should at a minimum be the sum of the other two spreads if they just did some fancy executions with their software.

I do like the company and never have trouble executing trades other than the crazy spreads on the rare occaision.