Anyone else has this experience?

[parthaab]

I am into scalping FTSE using an online brokerage, that claims to charge 0.5 points per trade.
However, when taking a position, one point is deducted straight away ( -10 per point ).
And, I have noticed that when it comes to closing the position, the system offers only quotes that take another point ( -10 ) from the trade.
This gives the brokerage 2 points per trade, though it claims to take only 0.5! This makes scalping unsustainable.

I suspect there must be shills and brokerage representatives on this popular site, but will be grateful if you could share your genuine experiences and also if you know of brokerages that offer fair ( trustworthy ) quotes.

 

[parthaab]

I have also heard, that this is the reason that the 'counter- trading' strategy really works - because brokerages offer more just before a bearish trend and vice versa.

:clap::clap:

 

[options-george]

I would recommend to discuss this with your broker, and switch brokers if you are not satisfied with their response.

Don't be afraid to negotiate. You are the customer

 

[parthaab]

I would recommend to discuss this with your broker, and switch brokers if you are not satisfied with their response.

Don't be afraid to negotiate. You are the customer

Do you really think they would re consider their strategy after all these years? Unlikely. They just change their quotes once you are locked into a trade. Unlikely to hurt if you are holding over, but not for scalpers, who need quotes as true to the market as possible.

My broker is ig ( online ). Any recommendations?

 

[options-george]

Do you really think they would re consider their strategy after all these years? Unlikely. They just change their quotes once you are locked into a trade. Unlikely to hurt if you are holding over, but not for scalpers, who need quotes as true to the market as possible.

My broker is ig ( online ). Any recommendations?

I have sent you a PM.

 

[parthaab]

I have sent you a PM.

Thanks! Much appreciated

 

[progix]

I would recommend to discuss this with your broker, and switch brokers if you are not satisfied with their response.

Don't be afraid to negotiate. You are the customer

Agreed as we all have always an option to talk about our concerns with our brokers as they are directly involved in providing technology to us to trade in market. In other words they are our partners and if anyone does not care about our concerns then we might have the right to change them.

 

[parthaab]

Agreed as we all have always an option to talk about our concerns with our brokers as they are directly involved in providing technology to us to trade in market. In other words they are our partners and if anyone does not care about our concerns then we might have the right to change them.

Thanks for the advice.
The question was: has anyone else had a similar experience?

 

[gerryg]

What was the broker response on your question?

 

[moka2]

So are your trading FTSE Futures on a true exchange or a CFD of some sort based on FTSE price
If it is a Futures contract the"broker" has no say with the spread it is a true market!, on the other hand if it is OTC.... the spread could be an issue and subject to manipulation specially if it is a market maker broker!