Brokers that GUARANTEE no slippage...

[JTrader]

Thanks TRADERguy

Originally posted by TRADERguy
EBS is owned by the top 12 or so banks and is used by the next 800 or so. They do about about $130 billion a day which is about a third of the world's daily spot volume.

Does this mean that the EBS datafeed plots the quotes of the top 12 banks and that the next 800 or so banks simply use EBS as a datafeed to base their trading on?

Thanks again

jtrader.

 

[TRADERguy]

Thanks TRADERguy



Does this mean that the EBS datafeed plots the quotes of the top 12 banks and that the next 800 or so banks simply use EBS as a datafeed to base their trading on?

Thanks again

jtrader.

Not really sure on this one. I am fairly positive that all the participants can place bids and offers in the system but I don't know for sure if the top banks act like market makers by providing streaming quotes. I think they do, but again I don't know for sure.

 

[JP1966]

ACM. I would not go near them. Ignore the fact that they widen the spread when it suits and the WYCIWYG is a complete fallacy. Their huge drawback is their small print. On your statement it sates very clearly that they have 48 hours to dispute/alter any trade on your account. You the customer meanwhile only gets 30 minutes. In theory therefore if a trade was posted to your account in error and you didn't spot it within 30 minutes (which is quite possible if for example you hadn't dealt!) then its tough. They are ownded by Refco as well which is as good as reason as any for stearing clear.

Forex.com meanwhile no longer offer guaranteed stops.

 

[Buk]

have you had an instance of the "30min" dispute JP??......only time I've observed the spread widening is around the major releases, and it's suicide to punt those anyway....strange, I haven't exp any contentious issues with em at all (yet), and any small niggles have been sorted immediately.....fellow traders have held accounts longer than meself, also not reporting horror stories.....then again, they'll always be pro's & cons - way of the world huh?

 

[ramesh151]

hi akshay

akshay

Thanks for the links, I'll investigate further. I wouldn't have noticed these artificial spikes from the Netdania charts that purport to use FXCM bid prices, normally the globex futures spikes are larger.

rog1111

hi akshay
many thanks for your daring fact message.
i am just about to open account with FXCM. but now i changed my mind.
who do you think is better than FXCM?
GFT?
I am a new guy to forex .
please suggest me a good company reasonable and which wont suck me dry.
thanks
ramesh babu from middle east (ex hyderabad)

 

[rog1111]

I'm not sure that FXCM is any worse than the others, at least their customer service seems reasonable. I think that your real choice is whether to trade spot or futures. I would not hesitate to recommend Interactive Brokers, at least they don't trade against their clients.

Good luck

rog1111

hi akshay
many thanks for your daring fact message.
i am just about to open account with FXCM. but now i changed my mind.
who do you think is better than FXCM?
GFT?
I am a new guy to forex .
please suggest me a good company reasonable and which wont suck me dry.
thanks
ramesh babu from middle east (ex hyderabad)

 

[GotGold]

Gft software is excellent.
No prblem with fills so far.

 

[MineralWater]

Email from ACM, ACM Advanced Currency Markets SA
3, Rue de la Croix-d'Or, 1204 Geneva (Switzerland), who recently joined the Refco Group.

" Dear Sir, Despite recent market choppiness ACM will continue to guarantee all prices on market, limit, stop and OCO variant orders!
Regardless of how volatile market conditions are and even in market gaps ACM will honor all valid executions! "

Minimum account size $5000

Yeah, but what about ACM' s spreads of several tens of pips around news announcements???

 

[Buk]

don't trade around them then!.....very few actually guarantee prices on the releases anyway - they are & always have been a 'brokers godsend'

 

[Strunz]

yes, they don't offer retail through their site it seems, some guy i know got it through his bank.

p.s
if you know how to raise serious funds, i'll be prepared to show my trade performance.

blue_seraphim
I'm interested to trade through EBS.
Can you please ask to the guy you know that got EBS through his bank if he is willing to tell me the contact name at his bank?
My trading volume is very high.
Thanks.

 

[Strunz]

Reuters still had more participants because it was more accessible to hedge funds and companies.
Cheers,

TRADERguy

TRADERguy ,
I phoned to Reuters asking to be able to trade on their platform "Reuters spot Matching".
The answer has been that only banks registered on SWIFT circuit are allowed to use it.
How are able, in your opinion, "hedge funds and companies" have access to Reuters if these are the conditions?

 

[TRADERguy]

TRADERguy ,
I phoned to Reuters asking to be able to trade on their platform "Reuters spot Matching".
The answer has been that only banks registered on SWIFT circuit are allowed to use it.
How are able, in your opinion, "hedge funds and companies" have access to Reuters if these are the conditions?

Not sure exactly but I know it happens. My guess would be that they have a banking relationship (read funds/assets in the participating bank) and that bank uses the risk management program that is available from Reuters to make sure that its clients don't exceed their credit limits.

 

[Baruch]

ACM. I would not go near them. Ignore the fact that they widen the spread when it suits and the WYCIWYG is a complete fallacy. Their huge drawback is their small print. On your statement it sates very clearly that they have 48 hours to dispute/alter any trade on your account. You the customer meanwhile only gets 30 minutes. In theory therefore if a trade was posted to your account in error and you didn't spot it within 30 minutes (which is quite possible if for example you hadn't dealt!) then its tough. They are ownded by Refco as well which is as good as reason as any for stearing clear.

Forex.com meanwhile no longer offer guaranteed stops.

JP,

What broker do you use yourself?

 

[kwiatek]

From the comments of others, FXCM may be worth a look, although some of the spreads are a touch high. I have had chats with their online help people and they say that they guarantee stops, even over the weekend, and there seems to be nothing to contradict this at this stage.

rog1111

In fact FXCM likes to have BIG slippage on surprise fundamental news + wide spread,
It may be 30 pips + sometimes, they have no maximum spread.

 

[FXRobinson]

How is slippage with Armada Markets? Their forex spreads are quite nice.

 

[Jason Rogers]

In fact FXCM likes to have BIG slippage on surprise fundamental news + wide spread,
It may be 30 pips + sometimes, they have no maximum spread.

Hi Kwiatek,

I notice this is your first post, so welcome to the forum

It's important to note that on FXCM's No Dealing Desk forex execution, we do not set the prices where client orders are executed. The prices are determined by 10+ competing liquidity providers. We simply take the best bid and best ask price being quoted at any given time and use those prices to offset client orders and add pip markup. That means our profit is based on trading volume, not slippage. Slippage occurs if the best price currently available in the market is different from the price where our client set the order. Slippage is more likely to occur during news events because prices are changing rapidly. Slippage can be either positive or negative. Positive slippage is more likely with limit orders, while negative slippage is more likely with stop orders. Here's a page with more info on this including stats.

On our NDD execution, whether our client orders are filled at the exact price or with slippage, FXCM makes the same amount of money based on the pip markup. That means we don't gain or lose based on any slippage experienced by clients. Even on our new DD execution which offers lower spreads, we use the FXCM NDD price feed as a base to derive prices and execute orders and just use a lower pip markup. It's also worth noting that on market orders with FXCM, it's possible to use the Market Range feature so that an order will only be filled if the slippage is within your specified tolerance level. Here's a link with instructions on how to use Market Range.

Jason

 

[forbe]

How is slippage with Armada Markets? Their forex spreads are quite nice.

I noticed quite often some positive slippage there, respect