Trading SB you are dealing with market makers and such issues that follow. Today most SB are giving a really good service. I am after 6 years of SB trading very pleased with the progress of the industry.That's the problem with trading a decentralised market, which spot forex is. Unlike Futures, which have regulated exchanges, and prices can be verified.
Steve Hopwood is bang on the money with his description of brokers and SBs. If you want to know his opinion, you need to visit the other site
Yes right, I have had a couple of hundred trades in the past year with Capitalspreads trading the indices, Slippage, don't think I have had a single one. However I do not trade the news or Forex. The same goes with the others I trade with, not much of a problem, altough I think CS is extreme in not giving slippage.
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francis the amount of problems you seem to be getting you'd to be better off picking up the phone to try and sort it out, establish the problem. Forums are not a great place to remedy something that is costing you your bottom line speaking direct with the broker is.
francisfinley
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thanks for the advice easy but guess what they said?
try shortsandlongs.com, slippage is normal in FX.
forums are the place to remedy something so they do something to avoid the loss of custom & makes others aware that this is the experience i am getting.
non?
alan5616
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The reason slippage is normal in forex is because, if you are trading micro or mini lots, the broker will be the counter party to the transaction. In an ideal world, we would all trade with ECNs, pay the commission and not have to put up with the skullduggery that some of these b*stards are guilty of.
OK I got you I thought you were waiting for somebody from Smartlivemarkets to respond to you on here. I think micro lots on all of these FX brokers is always going to be an issue to be honest as alan5616 points out. This is probably as good as it gets on small lots which is OK for testing out your strategies. On another point has anybody withdrawn funds OK using this broker? Always apositive sign that money goes in more than one direction lol
If this is as good as it get, SLM will not be in business that long. There are way too many good SB companies around. No reason whatsoever to trade with a company with this kind of service level (not even with micro lots). Interesting to see what SLM can do about it. Why the SLM representative doesn't respond is not a good sign. But I think one can afford to show some generosity with time, enough to give them space to correct a thing or two.
I have been using the SLM MT4 platform on a demo account, I am getting disconnected on average 3 times a day. When I am disconnected from the platform I am still able to use the internet, nothing but the platform is affected.
It automatically reconnects after 1 or 2 minutes.
Anyone else get this?
Today while I was trying to set my stop loss on a trade the platform crashed, a fatal exception.
Lot of hassle to get it back online but of course all my settings had gone back to default.
Anyone had the platfrom crash on them?
All other programmes and platfroms run fine and have never disconnected or crashed on me before.
My ISP is BT and have had no trouble wiht them before.
It automatically reconnects after 1 or 2 minutes.
Anyone else get this?
Today while I was trying to set my stop loss on a trade the platform crashed, a fatal exception.
Lot of hassle to get it back online but of course all my settings had gone back to default.
Anyone had the platfrom crash on them?
All other programmes and platfroms run fine and have never disconnected or crashed on me before.
My ISP is BT and have had no trouble wiht them before.
montmorencyt2w
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I am in a different situation in that I am trying to reactivate my old demo account, and I seem to be having communications problems on the platform. (Still waiting for an email response from SLM about the account, in case that's the problem). I'm also with BT and my net connection seems ok in other respects.
On the issue of micro lots i dont really see why that would be a problem for any SB. Pretty much all SBs claim to only hedge net exposure to the markets. The algorithm to do this really wouldnt be rocket science and even with the average computing power in a small business it should be able to do this quickly and consistently enough to keep the risk as an acceptable level.
In fact if you think about it although you would be dealing with a greater number of trades you would be far more likely to not have much net exposure at all if the majority of trades are very small. The system would probably manage the risk much better with 100,000 trades of 10p per point than it would if a couple of people dump £1000pp trades on the system (which i believe would need to be hedged/followed manually). Not that there is any chance of that with SLM since the max per point is only £50.
I dont really think micro lots is an excuse for the poor execution on both the demo and live at the moment. My demo account i trade £30 - £40 pp (depending on my required stop loss) on live i trade about 50p per point. Execution on demo has been much worse than the live lately.
Note: i have only just started this spread betting thing so try stuff on demo for a few weeks then if it looks good see how i can manage it with a tiny account and penny stakes. Real cash is different, even if the total account balance would barely fill my car with fuel these days.
In fact if you think about it although you would be dealing with a greater number of trades you would be far more likely to not have much net exposure at all if the majority of trades are very small. The system would probably manage the risk much better with 100,000 trades of 10p per point than it would if a couple of people dump £1000pp trades on the system (which i believe would need to be hedged/followed manually). Not that there is any chance of that with SLM since the max per point is only £50.
I dont really think micro lots is an excuse for the poor execution on both the demo and live at the moment. My demo account i trade £30 - £40 pp (depending on my required stop loss) on live i trade about 50p per point. Execution on demo has been much worse than the live lately.
Note: i have only just started this spread betting thing so try stuff on demo for a few weeks then if it looks good see how i can manage it with a tiny account and penny stakes. Real cash is different, even if the total account balance would barely fill my car with fuel these days.
I've been using SLM for just over a month now and have had no problems with platform crashing or re-quotes when opening/closing orders. They have also been extremely helpful on the telephone when I have had a query.
I also use Interactive Investor/Finspread SB platform and frequently have re-quotes from them and the occasional crash or "by telephone only" messages.
I'm in the UK and have 20 Mb/s broadband from Virgin, which may (or may not!) make a difference.
I also use Interactive Investor/Finspread SB platform and frequently have re-quotes from them and the occasional crash or "by telephone only" messages.
I'm in the UK and have 20 Mb/s broadband from Virgin, which may (or may not!) make a difference.
There were problems with the demo platform yesterday. Mine was off twice for about 10 mins each time. Live was OK though. Made a couple of live trades with no problems.
From your description it seems the issue you had was the MT4 software not the actual povider. I would try to re-install and if that doesnt work give SLM a call. Like someone else said the support is actually very good.
I don't think Smartlive do their Cashback offer on your first month live trading anymore fwiw, this is the process and you they don't bother responding:
"You must call the trading desk or email [email protected] to claim you cash refund within a week of this offer ending. " They appear to still offer it
Edit, it is still offered but the conditions are based on when you open your account not when you start trading live on it. They did respond and helpful as well.
"You must call the trading desk or email [email protected] to claim you cash refund within a week of this offer ending. " They appear to still offer it
Edit, it is still offered but the conditions are based on when you open your account not when you start trading live on it. They did respond and helpful as well.
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hi - i have a question re Smart Live Markets
i have been doing ok on demo SML and Alpari..forward testing realtime for the past 8 months and have a method that gives me what i deem as a decent profit factor value.so now i have a trading plan that i am happy with..time frames.. pairs..trading hours etc etc.. and as they say i now want to trade the plan..
i am looking to go live but am looking at a retail broker/ preferably spread betting initially due to the amount i have to invest for startup being small time (2k ish) compared to the requirement of most pro ecn's etc being £10k's plus...and also spread betting in the uk is tax free for the time being. (eventually i'd like to use a currenex setup or reliable ecn or poss prospreads depending on their
spreads on majors, particularly GU- i need 2 pip spread on that pair and bite the bullet re commission in return for a purer interaction with the market )
it would be ideal if i could use SML and stay there (mt4 and tax etc), but i have reservations about all retail setups due to numerous reviews and story's in the retail broker field.i fully appreciate and though i am not a geek re fills, liquidity volume etc i fully understand they play a bigger roll when transferring from demo to live. however this is not a scalping strat and in general normally have a a little amount of time to get the price i want or better apart from news/NFP. (slippage obviously works against you but can't it work for you sometimes- ie requotes keeping you out of the market and price may turn in your favour? is that reality or is that my demo trading naivity?)
my questions are to the forum who have had experience of SML and to SML directlywhat are people's general observations with SML demo versus live and what is SML's take on this?does live tend to shadow demo's performance reasonably well during actual trading?are the live spreads reliable upon execution? i have seen some retails setups where you enter and
spread price is exaggerated to 3 or 4 pips more upon entry and then price goes against you and spends time kerffufling around trying its upmost to remain in negative teritory and eventually find your stop (though my stop and tp for now will be in on my spreadsheet and manually executed)
what is SML's policy on winning traders.. ie, say i took this £2k and netted $4k - £10k over 8 months depndant on agressiveness? would they monitor my account closely with a negative view? would they close my account? would they allow winning traders? would they sabbotage you? what happens to traders who constantly win & increase lots and reach their imit of £50 per pip..how are they treated..anyone know? what garauntees do SML give that they or their providers (price feeds) wouldnt play dirty in any way? are they or their providers the norm retail and have invested interest in taking the opposite side of your trade? if so does this inevitably transpire in to price manipulation? (in honesty i guess the forum will be more prepared to answer that than SML)are strategies safe in the SML environment? what policy does SMLhave about protecting your trade history from prying eyes or their employees?
i dont mean to sound too negative or pretend that i am a pro trader with multiple lots at the ready or have the holy grail...however i am feeling extremely cautious about this and who i choose, because i know my method works for me (for now), ive traded it day in day out and would be absolutely gutted to
see it go up in flames due to something other than purely reading the market wrong.
these are just honest questions..and in no way meant to be critical toward SML..i would like to think i could sign up SML and make a living... but need to to know the facts first..any responses of people's experiences in direct relation to my questions would be appreciated, particularly from SML themselves, who on the face of it appear to be reasonable people having seen this thread and others.
however hearing on other forums (can't find the link right now but its on FF), about quotes from another "leading" retail spread betting firm employees boasting of how proud they are of how many losing traders they can "cultivate"..... only deciphering the honest answers to my questions will ultimately be the guiding light.
look forward to your comments
thanks
good luck all
k
i have been doing ok on demo SML and Alpari..forward testing realtime for the past 8 months and have a method that gives me what i deem as a decent profit factor value.so now i have a trading plan that i am happy with..time frames.. pairs..trading hours etc etc.. and as they say i now want to trade the plan..
i am looking to go live but am looking at a retail broker/ preferably spread betting initially due to the amount i have to invest for startup being small time (2k ish) compared to the requirement of most pro ecn's etc being £10k's plus...and also spread betting in the uk is tax free for the time being. (eventually i'd like to use a currenex setup or reliable ecn or poss prospreads depending on their
spreads on majors, particularly GU- i need 2 pip spread on that pair and bite the bullet re commission in return for a purer interaction with the market )
it would be ideal if i could use SML and stay there (mt4 and tax etc), but i have reservations about all retail setups due to numerous reviews and story's in the retail broker field.i fully appreciate and though i am not a geek re fills, liquidity volume etc i fully understand they play a bigger roll when transferring from demo to live. however this is not a scalping strat and in general normally have a a little amount of time to get the price i want or better apart from news/NFP. (slippage obviously works against you but can't it work for you sometimes- ie requotes keeping you out of the market and price may turn in your favour? is that reality or is that my demo trading naivity?)
my questions are to the forum who have had experience of SML and to SML directlywhat are people's general observations with SML demo versus live and what is SML's take on this?does live tend to shadow demo's performance reasonably well during actual trading?are the live spreads reliable upon execution? i have seen some retails setups where you enter and
spread price is exaggerated to 3 or 4 pips more upon entry and then price goes against you and spends time kerffufling around trying its upmost to remain in negative teritory and eventually find your stop (though my stop and tp for now will be in on my spreadsheet and manually executed)
what is SML's policy on winning traders.. ie, say i took this £2k and netted $4k - £10k over 8 months depndant on agressiveness? would they monitor my account closely with a negative view? would they close my account? would they allow winning traders? would they sabbotage you? what happens to traders who constantly win & increase lots and reach their imit of £50 per pip..how are they treated..anyone know? what garauntees do SML give that they or their providers (price feeds) wouldnt play dirty in any way? are they or their providers the norm retail and have invested interest in taking the opposite side of your trade? if so does this inevitably transpire in to price manipulation? (in honesty i guess the forum will be more prepared to answer that than SML)are strategies safe in the SML environment? what policy does SMLhave about protecting your trade history from prying eyes or their employees?
i dont mean to sound too negative or pretend that i am a pro trader with multiple lots at the ready or have the holy grail...however i am feeling extremely cautious about this and who i choose, because i know my method works for me (for now), ive traded it day in day out and would be absolutely gutted to
see it go up in flames due to something other than purely reading the market wrong.
these are just honest questions..and in no way meant to be critical toward SML..i would like to think i could sign up SML and make a living... but need to to know the facts first..any responses of people's experiences in direct relation to my questions would be appreciated, particularly from SML themselves, who on the face of it appear to be reasonable people having seen this thread and others.
however hearing on other forums (can't find the link right now but its on FF), about quotes from another "leading" retail spread betting firm employees boasting of how proud they are of how many losing traders they can "cultivate"..... only deciphering the honest answers to my questions will ultimately be the guiding light.
look forward to your comments
thanks
good luck all
k
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montmorencyt2w
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I've used the SML demo, but not live, so cannot comment on that.
If you can live without MT4 though, but still want to try spread-betting, and see if you can win the amount you talked about, then you shouldn't have any problems at, say, Tradefair (an LCG White Label Partner), or Capital Spreads (part of LCG proper), and you should be ok up to £50/point I'd say.
So long as you aren't scalping in the sense that Simon Denham talks about ... not trying to make use of differences between their feed and the live market...he reckons they can see this a mile off. I wouldn't know from first hand, but SB isn't ideally suited for true scalping anyway.
Probably worth giving CMC a try, as they are priding themselves on their NDD execution. Spreads a bit wider than LCG though.
I would have said that IG were ok, but I've read the occasional bad report here, so who knows. They've treated me ok so far, but I haven't won all that big from them, and what I have won is slow and steady, no wham, bam and thank you Ma'am.
If MT4 really is important to your trading method, why not just try SML live in a small way first and see how you get on?
If you can live without MT4 though, but still want to try spread-betting, and see if you can win the amount you talked about, then you shouldn't have any problems at, say, Tradefair (an LCG White Label Partner), or Capital Spreads (part of LCG proper), and you should be ok up to £50/point I'd say.
So long as you aren't scalping in the sense that Simon Denham talks about ... not trying to make use of differences between their feed and the live market...he reckons they can see this a mile off. I wouldn't know from first hand, but SB isn't ideally suited for true scalping anyway.
Probably worth giving CMC a try, as they are priding themselves on their NDD execution. Spreads a bit wider than LCG though.
I would have said that IG were ok, but I've read the occasional bad report here, so who knows. They've treated me ok so far, but I haven't won all that big from them, and what I have won is slow and steady, no wham, bam and thank you Ma'am.
If MT4 really is important to your trading method, why not just try SML live in a small way first and see how you get on?
hi mike.. cheers for that ... it's a tricky one, because if you get duped the first time go live, regardless of how small the trades.. it wil still have a knock on affect re confidence in yourself, brokers in general and worst of all your trading plan..
funny you mention capital spreads... my brother used them a year or so ago.. not too keen on their attitude - not sure he traded long enough to suss whether the dice were truly loaded or not re his account.. but the platform certainly froze at the wrong time on occassions.. the comment on FF i relate to was in fact relating to Capital Spreads...i've tried to dig the comment on the forum out, but still can't find it... it's in the broker discussion sub forum somewhere.
cheers
k
funny you mention capital spreads... my brother used them a year or so ago.. not too keen on their attitude - not sure he traded long enough to suss whether the dice were truly loaded or not re his account.. but the platform certainly froze at the wrong time on occassions.. the comment on FF i relate to was in fact relating to Capital Spreads...i've tried to dig the comment on the forum out, but still can't find it... it's in the broker discussion sub forum somewhere.
cheers
k
Capitalspreads are one of the best today. A year or so is an awful long time in this business.
montmorencyt2w
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I used CS prior to 2010 or so, and didn't find any attitude problems, but I thought the platform at that time was clunky. I went on to Tradefair whose platform I found much nicer to use (even though it's an LCG White Label Partner, the look and feel was different and better). CS platform has been upgraded since, and I think it's better than it was.
I think you'd have a similar trading experience at either of those these days.
I would have been trading live with SML by now, but they turned me down...on grounds of inexperience! From the way I replied to their questionnaire...probably because I had not demo'd their platform, or not for long enough, or read their trading guide. Partly through pique, and partly inertia, I gave up at that hurdle, at least for the time being.
Since those days, the SML rep who used to come on here and be quite active seems to have disappeared. They haven't replied to the last few emails I've sent them. So I'm beginning to have my doubts about them. Perhaps it didn't prove as profitable as they'd hoped.
Pity because it's good to have at least one SB firm with an MT4 interface. Actually, I personally don't care if it's MT4, MT5, or in fact any other programmable interface, so long as it's well-documented (I don't have a big investment in MT4 code, but I know lots do). Not for automatic trading, but for alerts and information, etc. I suspect in the past, the SB's have shied away from a programmable interface because it would have been too easy for the clever sods to exploit weaknesses in their platforms, servers, data feeds, whatever. Perhaps now that they all seem to have speeded up that side of things, there is less of a window (Simon Denham seems to suggest that it's less of an issue than it used to be).
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