Frequently Asked Questions - FXCM Apps Store

What is an automated strategy?

An automated strategy is a Trading Station Desktop app that automates all or part of a trading strategy.

These apps might carry out an entire trading strategy: when to buy; when to sell; where to a set stop loss; where to set a take profit. They could also be simpler, only performing one action, like entering a new trade or closing an existing trade.

Regardless of how complex it is, all of these apps automate a trading function(s) – a big advantage for some traders. Automation can a) free your time to do things in addition to trading, and b) allow you to follow a more objective trading strategy by helping to remove the emotional aspect of trading.

What is an Expert Advisor (EA)?

An Expert Advisor (EA) is a MetaTrader 4 (MT4) app that automates all or part of a trading strategy. The end user is responsible for “turning on” the EA to initiate trading. The end user is also responsible for “turning off” the EA if they want the EA to cease trading further.*

An EA might carry out an entire trading strategy: when to buy; when to sell; where to a set stop loss; where to set a take profit. It could also be simpler, only performing one action, like entering a new trade or closing an existing trade.

Regardless of how complex an EA is, all EAs automate a trading function(s) – a big advantage for some traders. Automation can a) free your time to do things in addition to trading, and b) allow you to follow a more objective trading strategy by helping to remove the emotional aspect of trading.

*A special note about “turning off” an EA: some EAs are designed to manage open positions and/or outstanding orders until the trades/orders created by the EA are no longer active.

What is a script?

A script is a MetaTrader 4 (MT4) app that automates a trading function(s). For example, a script could close all open positions simultaneously. Additionally, a script could buy a defined amount of a currency pair or it could sell a defined amount. A script could be created to do just about anything.

It’s important to note that scripts are user dependent. Meaning, the trading functions that a script performs must be initiated by the end user. Unlike an EA, they do not run continuously making trading decisions based on their coded strategy.

To clarify this point, let’s reconsider a script that closes all open positions in a trading account at once. When the end user decides to close all trades in their account, they can run the script. But remember, the decision to close all open positions was made by the end user, not the script.

What is an indicator?

A technical indicator (or indicator for short) is an app that uses past price data to give an indication of what future price levels will be or provide the general direction of the trend. Indicators do not use any fundamental data, like earnings, profit margins, or inventory in their calculations. Indicators are primarily used by active traders who are more focused on the short-term.

Popular indicators include moving averages (MAs), relative strength index (RSI), moving average convergence/divergence (MACD), among others.

Which trading platforms are compatible?

FXCM MetaTrader 4
FXCM Trading Station Desktop

Other platforms may be supported in the future.

How do I test my apps on a demo account?

FXCM offers free demo accounts. To obtain your own demo account:
Visit https://www.fxcm-markets.com/

How do I install my app?

Each app includes its own installation instructions, which also contains general information on how to use the app. After downloading an app, unzip the downloaded file to reveal the installation instructions text file (“installation-instructions.txt”).

If you need additional support, you may contact us.

Where can I access my download links?

Clicking on that link downloads the files you need to use your app. Your app download link is located in the download section of the apps page.

How do I use my app?

Un-package the zip file you got when you downloaded the app. This will reveal a text file called “Getting Started.pdf.” This document includes general information that explains how to use the app and adjust its settings.

If you need additional support, you may contact us.

My app isn't doing what I want it to do. How do I fix it?

We recommend that you read the app installation instructions, which also contains general information on how to setup and use the app properly. After downloading an app, unzip the downloaded file to reveal the installation instructions text file (“installation-instructions.txt”).

Can I use these apps on a VPS?

Yes. You can enhance your MT4 trading by signing up for VPS hosting.

Visit https://www.fxcm-markets.com/

Navigate to the MetaTrader4 section of the website

*VPS Free Hosting disclaimer: Clients who trade notional volume with an average of 500K per month for the previous 3 months will have the cost of VPS service reimbursed. At the beginning of the month (between 1st and 15th), a fee of 30 base currency (3k JPY, 240 HKD) will be debited from any of your FXCM account(s) to cover the VPS cost.

VPS Risk Disclosure: VPS services are provided by third parties. These third parties are not owned, controlled or operated by FXCM. As such, FXCM does not make any warranties regarding the services provided by the third parties. Clients are not required to sign up with the third parties FXCM offers discounts for. Instead clients are encouraged to find a VPS provider that best meets their needs. Additionally, there are significant risks and limitations involved with using VPS services. Prospective users are further encouraged to carefully examine and assess the risks and the limitations prior to use. These terms are subject to change at the sole discretion of FXCM.

What is a VPS?

A Virtual Private Server (VPS) can be thought of as a computer “in the cloud” that you can access from just about anywhere. All you need is a computer with an internet connection.

You install software (MT4) and apps onto it just like you would with your home computer. But the benefit is that you can leave the software and apps running on the VPS all day. Why is that a benefit?

Expert Advisors (EAs) can’t operate without the MT4 software running. And most individuals don’t have the ability to keep their personal computers, and the software on it, running all day. So many traders use a VPS in place of a home computer.

VPS also provides a convenient way for people who are away from their personal computers to check in on their trading accounts. VPS is accessible from any computer with internet access, providing traders with more freedom and flexibility to move about while still maintaining a watchful eye on their account activity.