‘FXCM Trading Station’ is a platform for online trading developed by FXCM Group. There are two versions – desktop and web-based. The desktop version requires java, and this usually leads to a higher load on the computer’s resources. There are five resizable modules that can also be moved outside the terminal. The assets module contains a list with all offered instruments split into groups: Popular, Forex, Indices, Commodities and Watchlist. The Trading module is organized in sections and Simple and Advanced dealing rates are initially loaded. The Advanced dealing rates section shows selected instruments as a box. Each box displays its properties and Buy and Sell buttons. Clicking on a trade button invokes a ‘Create Market Window’ where you can set order properties and can attach take profit and stop loss orders. The other section – Simple dealing rates – shows all instruments properties in rows.
The ‘Positions’ module is below and shows all open positions. You can close them or attach associated orders here. This module is organized in sections: Summary of deals, Orders, Closed Positions and Strategy Dashboard. The Account module contains information about Equity, Profit/Loss and Margin. The live news feed is in the adjacent module. The main menu bar is on the top of the workspace. You can set the platform properties here including passwords, languages, skins, and sounds. Each module can be switched on or off and you can save the customized workspace. Right-clicking on the instrument name opens a context menu and you can choose which chart to display. Charts can be shown as a section in the Trading window or as a new window in the module Marketscope.
The most used trading buttons are available in the Trading module including Buy, Sell Stop/Limit, Entry, and Reports. If the 1-click trading is switched on, all confirmations are skipped. As we always say, scalpers will find this an especially useful feature. Time periods start from 1 minute to 1 month and you can choose which price to be displayed, bid or ask. There are several graphical objects such as lines and Fibonacci retracement. More than 50 indicators and an automated trading module are available as well.
In our opinion, this is a complex platform that could be suitable for advanced traders, but beginners will encounter difficulties.