FXCM Metatrader4

User Guide to the No Dealing Desk Platform

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Table of Content

Benefits of FXCM Metatrader 4 ....................................................................................................................................4

Expert Advisor Use .......................................................................................................................................................4
Metatrader 4 versus Trading Station II..........................................................................................................................4
Expert Advisor Best Practices........................................................................................................................................5
How to Install your Expert Advisor................................................................................................................................6
How to Apply an Expert Advisor to a Chart....................................................................................................................6
How to Apply an Expert Advisor for Live Trading ..........................................................................................................7
How to Adjust Trade Sizes and Other Parameters..........................................................................................................8
How to Remove an EA ..................................................................................................................................................8
How to Add a Custom Indicator.....................................................................................................................................9
How to Place a Manual Trade .......................................................................................................................................9
How to Verify your MT4 Trade Size...............................................................................................................................10
How to Close a Trade Manually....................................................................................................................................10
How to Configure your Expert Advisor..........................................................................................................................11
How to Trouble Shoot an Expert Advisor .....................................................................................................................12
Metatrader Crashes When Attaching an EA ..................................................................................................................13
Is your EA compatible with FXCM Metatrader 4............................................................................................................14
FXCM Metatrader 4 NDD Configuration........................................................................................................................14
Placing Stops and Limits on FXCM MT4.........................................................................................................................15
Partial Fills on FXCM MT4 ............................................................................................................................................16
Time Zone....................................................................................................................................................................17
Margin Calls on FXCM MT4...........................................................................................................................................18

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What is your FXCM Read Only Reporting Login? ........................................................................................................18

Why is your FXCM Read Only Reporting Login Important? .........................................................................................18
How Can You Verify the Real Time Value of your Account? ........................................................................................18
What is an Auto Account Sync? ...................................................................................................................................18
Why does an Auto Account Sync Occur? .....................................................................................................................18
What is VPS?................................................................................................................................................................19
VPS Advantages............................................................................................................................................................19
How to Login to VPS........................ ....................... .....................................................................................................20
How to transfer files from my local machine to the VPS................................................................................................21
FXCM Programming Services.24
Advantages of Using FXCM Programming Services.24
Customizable EA Examples: Our Top Ten List..24

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MT4 Powered by Boston Technologies

Benefits of FXCM Metatrader4

Accepting All EAs, Including Scalping EAs

VPS Hosting: Have your trade robot always on to capture trading opportunities 24/7

Parallel Processing: Faster order execution speed especially during news events

Programming Services unit to build EAs on demand and support EA developers

Expert Advisor Use

We believe automated systems can be optimized when trades are executed anonymously. With FXCM's
No Dealing Desk execution that's exactly what you get: anonymous trade execution with over ten of
the world's largest banks and price providers. That's why we recommend MetaTrader 4 to traders who
automate their trades with EAs.
MetaTrader 4 was not originally designed for No Dealing Desk execution. However, we have worked
with a third party (Boston Technologies) to make it compatible and to bring you the benefits of FXCM's
No Dealing Desk execution

Metatrader 4 versus Trading Station II

FXCM's award winning Trading Station II platform was voted the best retail platform by FX Week. The
platform currently supports the trading needs of over 150,000 clients and was designed in-house by
FXCM to provide traders with the best environment for No Dealing Desk execution.
We recommend FXCM's Trading Station II platform for all traders who are not automating their trades
with EAs. Trading Station II offers the following benefits over MetaTrader 4.

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Expert Advisor Best Practices

The FXCM MetaTrader 4 platform uses No Dealing execution, making it ideal for Expert Advisor (EA)
strategies. With No Dealing Desk execution, the outcome of your trading has no effect on FXCM's profit
or loss; therefore, all EA strategies are welcome, including scalping and short term trading EAs.
While there is no miracle EA that can guarantee success, there are best practices and trading tools
available to help you in building and running your EA to increase your probability of success. FXCM
Expert Advisor Central is your one stop destination for tools and resources to help improve your EA
performance.
1. NO MIRACLE EAS: UNDERSTAND YOUR EA BETTER; IDENTIFY OPTIMAL MARKET BIAS, CURRENCY
PAIRS & BEST TIME PERIODS
Many EAs have a bias or work best during certain market conditions such as trending or ranging
markets. There is no one EA that works in all market conditions. EAs are built on rules and strategies to
automate your trading. However, it's important to understand the right market conditions in which to
use your EA. Whether it's a specific time of day, specific currency pair or specific market condition,
you will have a higher probability of success if you use your EA appropriately.
Examples:
1. Scalping EA: If your EA is designed to take small profits (e.g., 5-10 pips at a time with large stop
values) don't leave your EA active during news events. The risk/reward is not optimal as the
markets can break out 100 pips or more and can cause large losses. Instead, range trading pairs
such as EUR/GBP and EUR/CHF are ideal for scalping EAs as they tend to move sideways intraday
allowing you to capture small pips consistently.
2. Range Trading EA: If your EA is built for range trading, don't trade GBP/USD and GBP/JPY. While
they are among the most popular pairs to trade, they are volatile pairs intraday and long term
and thus better suited for breakout or momentum strategy EAs.
3. Time Periods: If you're using a range trading EA then trade range trading pairs like EUR/GBP and
EUR/JPY BUT trade them during U.S. and European markets as that is when spreads are tight
and liquidity is excellent. Don't trade during the Asian session.
4. News Trading: If your EA was not specifically designed to trade news events, then during news
events, when price action is less certain, we would recommend turning off your EA as it may not
provide the optimal trading environment for your EA.
Know your currency pairs and why types of strategies work best for them.
Below is a guide to help you identify which currency pairs can be traded once a market bias and
appropriate trading session are identified. EAs you purchase may not indicate the type of trading style
but do mention specific currency pairs and time frames. Understand these currency pairs and
timeframes to help you get the best performance out of your EA.
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How to Install an EA

To install an EA into the MT4 platform, you must save the EA in the following folder:

C:\Program Files\FXCM MT4 powered by BT\experts

After you have saved the EA in the experts folder, it will appear in the Navigator window on the
MT4 interface.

This EA will remain on the navigator window until the client uninstalls the software or deletes
the EA from the experts folder.

How to Apply an EA to a Chart

The EAs that are installed on the MT4 software can be found in the Navigator Window under
Expert Advisors. Currently there are 2 EAs that are automatically installed on MT4 during the
software download: MACD Sample and Moving Average

To apply an EA Drag and drop the EA from the Navigator Window to the chart you want to apply
the EA

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This will prompt a pop up to appear that allows you to select the parameters for your EA and
also if you want to apply the EA for live trading.

How to Apply an EA for Live Trading

On the Common tab under Live Trader you can put a check in the box to Allow live trading if
you want to strategy to place live trades.

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How to Adjust Trade Sizes and Other Parameters

The Inputs tab allows a client to select the parameters for the EA that are outlined in the code.
For example, a client can change the trade size by changing the value of the Lots variable.

Click on OK to apply the EA to the chart you have selected. In the upper right hand corner of the
chart you will now see the name of the EA followed by a smiley face if the EA is enabled to place
live trades.

How to Remove an EA

To remove an EA right click on the chart, select Expert Advisors, then Remove.

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How to add a Custom Indicators

Adding a custom indicator is similar to the process of adding an EA. The only difference is that a
custom indicator must be saved in the indicators folder which is located inside the experts
folder.

C:\Program Files\FXCM MT4 powered by BT\experts\indicators

Once a custom indicator has been uploaded to the appropriate folder it can be see on the MT4
interface in the Navigator window under Custom Indicators.

How to Place a Manual Trade

To place a trade, right click on the chart, select Trading, the New Order. The Order window will
pop up.

To place a trade, right click on the chart, select Trading, the New Order. The Order window will
pop up.

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Symbol: Currency Pair

Volume: Trade Size.

Stop Loss and Take Profit: Must be added after execution in the Terminal Window.

Type: Market Execution (Market Order) or Pending Order (Entry Order)

Sell by Market and Buy by Market: Click on sell button to sell and buy button to buy pair

How to verify your MT4 Trade Size

1K trade is equal to 0.01 lots
10K trade is equal to 0.10 lots
100K trade is equal to 1.0 lots
1 Mil trade is equal to 10 lots
Currently micro lots are only available to clients that meet either of the following conditions:
1) The client has balance of greater than 10K on a MT4 account
2) The client has a balance of 2K or greater and has submitted a valid account statement from a
competitor firm showing they currently trade micro lots on MT4
How to Close a Trade Manually
To close an open trade or to adjust stops/take profits the client should visit the Trade tab on the
terminal window which is located near the bottom of the platform. By highlighting the trade then right
clicking a menu will appear with the options to close the trade or modify the stop/take profit.

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How to Configure your EA

Open your MT4 terminal. Check out the configuration settings of EA on MT4 by
following these steps:

Make sure the appropriate boxes are checked off.

Now, all you need to do is add your expert advisor to the preferred chart and activate it. You can
also change some input parameters for the advisor in the Inputs tab. Before adding the EA to the
respective chart refresh the chart by clicking on M1, M5, , MN

Make sure the Expert Advisors button is turned on GREEN.

Finally, check out following options. And you should see your EA added on top right corner of
your chart with a smiley face.

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How to Trouble shoot an EA

1. EA doesnt have smiley face:
This likely problem is that Allow Live Trading isnt checked either on the Expert Properties Common tab
or the MetaTrader platform at Tools/Options/Expert Advisors.

2. EA not trading but there may be data on the chart:

Make sure there is a smiley face on the chart. Are the conditions right for the EA to trade? Some EAs
will evaluate the market for a while waiting for the correct entry. This might take a couple of days or
longer for some EAs.
You can find more information on the following site:
http://www.fxcm.co.uk/ea-central.jsp

A. Make sure lot sizes in EA settings are compatible with your FXCM account, i.e. not trying to use
micro lots on an account that doesnt allow that small of a lot size. Please contact FXCM for
more information on your live account. You can find contact information on the following site:
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http://www.fxcm.com/contact-fxcm.jsp
B. Make sure ticks are coming into the platform and the platform is online. Is the clock time over
the MetaTrader terminal changing to denote data is being received?

C. If using any Time features, is it within the Start Time to begin trading?
D. If running with other EAs and the EA has a Max Draw Down variable, is the Max Draw Down
already greater than the EA default?
E. Does your EA have any specific parameters?

3. EA not trading without data on chart (there should be data there):

Sometimes it helps to do what we call the 'wake-up' procedure. Do this by changing the chart
timeframe to something different, and then change it back to the original timeframe. You can
also try removing and reloading the EA or shutting the platform down and bringing it back. Make
sure tick data is coming in.

4. MetaTrader4 Crashes When I Attach an EA or a Custom Indicator

If you are encountering this problem then the odds is that the build of your MetaTrader 4 (MT4)
is not the latest one. Theoretically if you restart MT4 it should prompt you to upgrade to the
latest build. If it doesnt then you are most probably encountering one of the following cases:

Your demo account has expired. FXCM Metatrader 4 demos expire after 60 days.

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You are running MT4 in Windows Vista. You need to disable User Account Control from
Windows Security Center and then restart Windows. When you start MT4 it will hopefully
prompt you to upgrade to the latest build.

You may be forgetting to put the DLL thats comes with your EA into the experts libraries folder
(not all EAs have a dll), or placing it in the wrong folder.

5. Is your EA compatible with FXCM Metatrader 4?

Partial Closings: Partial closings are currently not available, but there are solutions you can
incorporate into your EA to integrate with FXCM MT4. Break up the entry into separate tickets
for scaling out of positions.
Adding Stops and Limits: Market execution requires the stop and limit to be added to the trade
after it is has finished execution.
Fractional Pips: FXCM offers prices in tenths of a pip to provide lower spreads; however, MT4
recognizes the last digit as a whole pip. To correct this, increase the pip amount by a multiple of
10. For example, 1 pip in MT4 would be written as 10.

FXCM Metatrader 4 No Dealing Desk Configuration

In order to integrate MetaTrader 4 No dealing desk execution, some MetaTrader 4 behavior

related to deal desks is not available. The following list describes certain functions of
MetaTrader 4 and how they behave differently with No dealing desk.

Maximum Deviation

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FXCM Metatrader 4 does not have a maximum deviation option.

Placing Stops and limits on FXCM MT4

FXCM MT4 Powered by BT will not allow you to place Stops/Limits pre-execution. In the image
below the stop and limit feature in the order window is grayed out.

You will need to execute your trade > right click on the order in the terminal window > Click on
Modify or Delete Order> Add Stop/Limit. See the two images below for a visual on what to click
on and the windows that appear:

Clicking on the Modify or Delete Order option will open the following window for you to add a
stop and limit.

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Due to the change in how the stop and limit orders are placed, you will need to make sure your
EA adds the stop and limit after the order has been executed. Please click here for more
information on modifying your EA to incorporate post- execution stops and limits.

Please note that because FXCM offers fractional pricing a point value of 5 denotes .5 pips, while
a point value of 50 denotes 5 pips.
For example:

A 200 point stop will be triggered at 20 pips.

Partial fills on FXCM MT4

Please be aware that FXCM MT4 Powered by BT does not support partial fills on close orders. A
3.00 (300k) order has to be closed in its entirety. If you wish to partially close positions, then you
should open your position in multiple tickets instead of one ticket for the entire amount. This
will allow you to add stops and limits to individual tickets for those specific amounts.

The FXCM Trading Station II offers the capability to partially close positions. Please click here for
more information.
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Time Zone

FXCM MT4 Powered BT time zone is GMT + 1.

Margin Calls

FXCM MT4 Powered by BT Margin Call policy is to close all open positions simultaneously if a
Margin Call should occur.

Please consult your FXCM Account Statement to verify if a MC has occurred. You can access your
statement at myfxcm.com.

What is your FXCM Read only Reporting Login?

Metatrader accounts receive two different logins. The first email will be your login for reporting
purposes and will include your FXCM account number.

The second email will be the login to access the Metatrader platform and is used for trading
purposes exclusively.

Why is your Read Only Reporting Login Important?

The reason your FXCM reporting Read only login is important is because the FXCM reports are
the accounting record of statement and will always serve as the best real-time value of your
account. The FXCM reports are used to make sure trades placed on MT4 are getting executed at
FXCM

How can you verify the real time value of your account?

You can log into MYFXCM.com in order to check the accounting record of statement and verify
the real time value of your account
My FXCM is an interactive website designed exclusively for existing FXCM clients. The site
enables you to quickly and easily perform administrative functions and access account
information/reports My FXCM requires no special software and can be accessed on any
computer via your Internet browser.
Please click on Account Statement under Account Reports, choose your time frame, and click on
Get Report.
The reporting login may also be used to log into the FX Trading Station. The benefit of logging
into the FX Trading Station is to view additional details for trading including the pip cost, margin,
and trade rollover.

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Click on the following link to download the FX Trading Station: http://www.fxcm.com/softwaredownload.jsp

What is an Auto Account Sync?

An Auto Account Sync is a function that is used to update the MT4 platform to accurately reflect
your FXCM Account. Most of the time you will find that no actual funds were either added or
deducted from your account since the Account Sync is likely just reconciling your MT4 platform
with your FXCM balance.

The Account Sync is used to make sure that the balance on MT4 exactly equals the FXCM
balance. The reason an Auto Sync is needed is because the MT4 platform is just a user interface,
and your FXCM account is the actual statement of record and always serves as the best realtime value of your account. It is important to remember an Auto Sync can show either a credit
or deduction in your MT4 trading platform.

Why does an Auto Account Sync Occur?

Any time you deposit or withdraw funds to your account this will show up as an Auto Sync.

Rollover will also appear as an Auto Sync because MT4 does not display rollover. To view
rollover you will need to check your read only Trading Station. Rollover is found in the
Simple Dealing Rates window in table form, or the Advanced Dealing Rates window. Positive
rollover will show up as a credit in the form of a positive Auto Account Sync. Negative
rollover will show up as a deduction in the form of a negative Auto Account Sync.

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You will also see an Auto Sync if there is a discrepancy in the profit or loss between your MT4
and FXCM Account. For example, if your FXCM account has a balance of $1,000 and your MT4
interface shows $998, the Auto Sync will add $2 to the MT4 interface. However, if your FXCM
account shows $998 and the MT4 interface is $1000 the Auto Sync will subtract $2 from the
MT4 interface.

All Metatrader accounts receive an email with an FXCM account number that can be used for
reporting purposes to verify your FXCM balance.

If you are unsure why an Auto Account Sync has taken place on your account, please login to
www.Myfxcm.com with your FXCM(Read Only Reporting Login) account number.
What is VPS?

VPS or Virtual Private Server allows you to log onto a separate server on your desktop that is
solely devoted to your Metatrader4 account. VPS is like a mini computer system within your
own computer and has its own hard disk space and RAM.

The purpose of a VPS is that your trades will execute even if your computer is shut off or even
crashes. You can turn off your computer and keep your EA trading and are protected from
power outages that affect your computer.
VIRTUAL PRIVATE SERVER ADVANTAGES

Flexibility: Turn off your computer and continue to have your Expert Advisor run.
Dedicated Server: The server is dedicated to EA trading with no other application running on it.
Remote Access: Log into your platform from any computer, even if MetaTrader 4 is not
installed.

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How to login to VPS

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You will find a VPS IP address, a windows login number and a windows password in your
VPS welcome email.

To login to your VPS please access your Remote Desktop Connection. This is typically
found by clicking on the Start button on the bottom left hand corner of your computer
screen, Programs, Accessories, and then Remote Desktop Connection.

Enter IP address of VPS

Use the credentials shown in the welcome email to access the VPS

How to transfer files from my local machine to the VPS

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Before you login to the VPS, click on Options

In local resources tab, click on More

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Make sure you know where on your local drive you have stored your EA

Click OK and then Connect

Once you are logged into the VPS, please navigate to My Computer.

Copy and paste files or EAs from your local drive into your VPS drive.

FXCM Programming Services

FXCM has rapidly grown its MT4 trading community, many of who use EAs in their trading. FXCM has
created a team of expert programmers that are knowledgeable in several programming languages,
including MQL4. Our programming services department is able to leverage its experience and expertise
to help you build and modify your EA.
The team of programmers can take your trading concepts or strategies and convert them into an EA that
you can trust and one that we can support. Just as important, the team will be available in case you
experience any difficulties with the EA they have coded for you.
ADVANTAGES OF USING FXCM PROGRAMMING SERVICES:

Build EAs On Demand: We can build any EAs based on your trading concepts or strategies so
that you can automate your trading.
Full Support: FXCM has a fully staffed team ready to assist our EA developers and users.
Flexibility of the EA: We code the EA so that it can be flexible and so that traders can have the
ability to tweak their EA setting as they deem necessary.
Expert Integration with No Dealing Desk Execution: Our staff of programmers fully understands
the No Dealing Desk execution model and can code any EA to be fully compatible with our
system so you can take advantage of No Dealing Desk execution in your trading.

CUSTOMIZABLE EA EXAMPLES: OUR TOP TEN LIST

1. Dynamic Dashboard: We have created dashboards that display any input related to your EA and
updates in real time on your trading chart.
2. Custom Alerts: We can create custom alerts on the trading charts that allow you to be aware
when any action as part of your strategy is activated. Such as when an order triggers, a price
triggers, a technical formation is formation, etc.
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3. Pre-Defined Entry Time Frames: Many EAs should only be on during specific time periods or
trading sessions to avoid low liquidity or only trade when there is high volatility. We have
programmed EAs to be aware of these specific conditions and denote them on a chart so a
trader knows when to turn on/off his EA.
4. Enable Trader Intervention: Not all strategies that allow traders to intervene in the opening or
exiting of trades are coded. We have coded EAs that do allow traders to take more control.
5. Custom Scripts: We can create any custom script related to order execution. For example, we
have coded scripts that can scan all open trades and close only positions with current profits of
""X"" pips.
6. Custom Indicators: We can create any custom technical indicator for a client.
7. Multi-Time Frame Trading: You can have coded EAs that trade across four different time-frames
at the same time.
8. Money Managers EAs: We have coded EAs for Money Managers that allow them to protect
their intellectual property by locking there EA to a specific account number or password field, or
to work only on demo accounts. Also have customized PAMM set-ups that integrate with MT4.
9. EA Developers: We have helped EA developers, who needed help with more robust coding,
perfect their EAs.
10. E-mail and SMS alerts We have coded the ability for e-mail and SMS alerts to be sent when
your EA has performed a specific action. This allows you to be aware of your EA activity 24 hours
a day.
EA DEVELOPERS
If you are an EA Developer, contact us and we can help you fully integrate your EA with our No Dealing
Desk system, or help you to add more robust coding. Our programming services team can assist in
almost any of the coding aspects of your EA.
GET STARTED
Contact our Programming Services Team:
Simple Programming Project: $300
Complex Programming Project $600
Promotion:
Open an MT4 Account with $25,000 and get five free billing hours.
E-mail: consulting@fxcm.com
Fill out a Request Form: http://www.fxcm.com/programming-services-form.jsp
Read more information: http://www.fxcm.com/strategy-consulting-landing.jsp

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Resources
Free FXCM Expert Advisors
Commercial EAs
Open an MT4 Account
MT4 VPS

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