city index software manipulation on slippage

[kwickwool]

All,

Will tell you what happened as in the facts and you can make your own mind up as to if you think city index can manipulate their software to increase slippage.

Was a user of city index for a long time, awesome spreads, fast execution etc and like the platform. I probably traded around >500 trades with them all without slippage which was great, I monitor each trade closely and can say for absolute certain that this was the case.

Then I withdrew most of my funds leaving a small amount remaining. Then the next 2 trades I entered both had slippage, faily large as in a few pips on the eurusd twice, these were during extremely non-volatile times and makes the 1 pip spread nonsense.

So I go for months without any slippage, withdraw most of my account and then suddenly experience slippage on the next 2 trades? I sent their customer support department an email but had no return from them.

Is this a coincidence, most of us use statistical set ups and understand that the probability of this being random almost an impossibility. It was almost as if they regraded my account through their software once the cash was withdrawn after speaking to their people on the telephone.

Just for you all to be aware just incase similar happens to anyone else out there, yes great tight spreads but a waste of time if they continually give you slippage in areas of volatility that a spread company should be embarressed to pass on.

I will never use them again simply because I myself believe that they have a tool for order fill manipulation, the rest of you can make your own mind up.

Happy trading all,

Christian

 

[enragedcow]

yep

spoke to city index they said they invest millions into software to make slippage on your trades because you're the biggest fish in the market

i trade the eur/usd too, with the epic fast moves it's made lately i'm not surprised there's been slippage

there's an article in the articles section expounding the myths of spread betting and cfd brokers doing this type of thing

 

[Black Swan]

yep

spoke to city index they said they invest millions into software to make slippage on your trades because you're the biggest fish in the market

i trade the eur/usd too, with the epic fast moves it's made lately i'm not surprised there's been slippage

there's an article in the articles section expounding the myths of spread betting and cfd brokers doing this type of thing

Where is the article?

 

[JRP2891]

yep

spoke to city index they said they invest millions into software to make slippage on your trades because you're the biggest fish in the market

i trade the eur/usd too, with the epic fast moves it's made lately i'm not surprised there's been slippage

there's an article in the articles section expounding the myths of spread betting and cfd brokers doing this type of thing

Enjoyed that one.

 

[pboyles]

yep

spoke to city index they said they invest millions into software to make slippage on your trades because you're the biggest fish in the market

i trade the eur/usd too, with the epic fast moves it's made lately i'm not surprised there's been slippage

there's an article in the articles section expounding the myths of spread betting and cfd brokers doing this type of thing

Actually some forex brokers have been caught doing exactly that. Mt4 has a plugin called 'virtual dealer' which is created for the purpose. There is also bridging software made by Boston Technologies which controls slippage. I think it's safe to assume that some spreadbetting companies do the same, why not there is nothing to stop them.

 

[JRP2891]

Actually some forex brokers have been caught doing exactly that. Mt4 has a plugin called 'virtual dealer' which is created for the purpose. There is also bridging software made by Boston Technologies which controls slippage. I think it's safe to assume that some spreadbetting companies do the same, why not there is nothing to stop them.

I think forex traders have got it very good now compared to 10 years ago, although undoubtedly all the brokers still get up to their tricks.

 

[Hotch]

most of us use statistical set ups and understand that the probability of this being random almost an impossibility.

I have no words.

 

[kwickwool]

Have not posted on here for a while and now I know why, >500 trades no slippage and after withdrawing money from the account have 2 large slippage closes immediately afterwards. I am saying statistically there has to be manipulation, jesus this site is unreal. Full of ********s.

 

[kwickwool]

and at at time when there was very small market movement, please read the fecking post enragedcow you knob, forget that posts get shot down all the time by arogant ********s

 

[Pazienza]

and at at time when there was very small market movement, please read the fecking post enragedcow you knob, forget that posts get shot down all the time by arogant ********s

Well, whatever the case you're doing the right thing by moving to a new broker. Whether or not they're gaming you, you need to have confidence in the platform you're using. If you don't you should just move as you're doing.

 

[ffsear]

Pointless these firms gaming anyone now! They have thousdands of retail clients watching their markets, Both physically and with automation (API). This scrunity limits the flexibility market makers have ove pricing. Pleanty of traders will be ready to scalp any differance between real and indicative prices. It wont be worth their while!

 

[Pazienza]

Pointless these firms gaming anyone now! They have thousdands of retail clients watching their markets, Both physically and with automation (API). This scrunity limits the flexibility market makers have ove pricing. Pleanty of traders will be ready to scalp any differance between real and indicative prices. It wont be worth their while!

I agree, in my experience things are pretty good these days. I can only speak about futures mind, but generally I don't think there are significant problems.

 

[kwickwool]

All I am stating is the facts, no slippage during >500 trades then 2 slippages immediately after withdrawal of funds of around 2 pips on each eurusd trade during virtually no volatility, people can make up there own mind as to conclusions. I understand what you are saying but the proof is in the facts for me and statistically something must be going on.

 

[JRP2891]

All I am stating is the facts, no slippage during >500 trades then 2 slippages immediately after withdrawal of funds of around 2 pips on each eurusd trade during virtually no volatility, people can make up there own mind as to conclusions. I understand what you are saying but the proof is in the facts for me and statistically something must be going on.

I wish my slippage worries were only 2 pips.

 

[JRP2891]

If you turned profitable towards the end of your period trading with them, they could've been hedging your last orders in the futures market, as opposed to taking the other side and guaranteeing your price, therefore 1-2 tick slippage can happen on stop orders in so called quiet conditions.

 

[kwickwool]

yes mate understand all that but I traded with them very often during quiet periods with no slippage whatsoever, have always stuck up for the firms when people state issues etc but this just seemed too much of a coincidence for me. Always stated that the competition out there today with multiple firms means they cannot get away with manipulation tricks but this has totally changed my mind. Its all experience and not overly bothered about it.

 

[Black Swan]

yes mate understand all that but I traded with them very often during quiet periods with no slippage whatsoever, have always stuck up for the firms when people state issues etc but this just seemed too much of a coincidence for me. Always stated that the competition out there today with multiple firms means they cannot get away with manipulation tricks but this has totally changed my mind. Its all experience and not overly bothered about it.

Is now a good time to put a cheeky offer in for your multi monitor set up?
Tbh you've actually flagged up City as a good firm if you've only had two issues...let it go..price of doing business..etc..etc..

 

[kwickwool]

Yep always supported them as had no issues at all but have now changed my mind, although yea all part and parcel of what we do, just wanted to highlight the fact.

monitor system was sold when I was in Marbella, 2500 euros so got a good price for it and now have a really good mobile system set up, am in Kosovo at the moment of all places

 

[MajorDutch]

Pointless these firms gaming anyone now! They have thousdands of retail clients watching their markets, Both physically and with automation (API). This scrunity limits the flexibility market makers have ove pricing. Pleanty of traders will be ready to scalp any differance between real and indicative prices. It wont be worth their while!

you have made an assumption that they are giving the same price to everyone and that they will allow fills at these prices on the same basis to everyone. I don't believe there is a huge issue here it just adds up to a couple of pips here and there but it all adds up. It makes a difference to the thousands of punters who are trying to make 5 to 10 pips on a trade but not to the traders that are looking for say 20 to 30 pips with equally wide stops.

 

[MajorDutch]

All I am stating is the facts, no slippage during >500 trades then 2 slippages immediately after withdrawal of funds of around 2 pips on each eurusd trade during virtually no volatility, people can make up there own mind as to conclusions. I understand what you are saying but the proof is in the facts for me and statistically something must be going on.

google 'ex index employee' and see what you find. As black swan said this is the cost of doing business. If you are trading at a bucketshop and not expecting a few little tricks to be played then you barking up the wrong tree.