ETX capital slippage..

[macbund]

Hi guys,

Just for confirmation I would like to ask any representative from ETX Capital if they are currently using ( as of 18 th August 2013 ) the "Virtual Dealer plugin" in order to execute trades??

I look forward to ETX replies.

P.S My only concern is that I have placed many trades with ETX Capital and have never been issued with even one " positive slippage" fill in many hundreds of trades.However, I have recieved many "negative slippage " fills even in relatively slow moving markets.

 

[counter_violent]

Hi guys,

Just for confirmation I would like to ask any representative from ETX Capital if they are currently using ( as of 18 th August 2013 ) the "Virtual Dealer plugin" in order to execute trades??

I look forward to ETX replies.

P.S My only concern is that I have placed many trades with ETX Capital and have never been issued with even one " positive slippage" fill in many hundreds of trades.However, I have recieved many "negative slippage " fills even in relatively slow moving markets.

Not enough info.

What type of orders were you using for both entry and exit?

This topic has been done to death on other threads. May be worth a search.

 

[Vasco da Banana]

My only concern is that I have placed many trades with ETX Capital and have never been issued with even one " positive slippage" fill in many hundreds of trades.However, I have recieved many "negative slippage " fills even in relatively slow moving markets.

What a surprise!

 

[iandh2010]

Hi Guys,
I am currently looking for another SB company to trade stacks on the LSE as the one I'm currently with keeps widening spreads before my trade completes.

I was going to take a look at ETX Capital after seeing it advertised on this forum. Are you saying they are as bad as the rest?

Ian

 

[pboyles]

Hi guys,

Just for confirmation I would like to ask any representative from ETX Capital if they are currently using ( as of 18 th August 2013 ) the "Virtual Dealer plugin" in order to execute trades??

I look forward to ETX replies.

P.S My only concern is that I have placed many trades with ETX Capital and have never been issued with even one " positive slippage" fill in many hundreds of trades.However, I have recieved many "negative slippage " fills even in relatively slow moving markets.

They do use the virtual dealer plugin, they admitted it here. I believe the post has subsequently been deleted but should they seek to deny it I suppose a cached copy could be found.

They are also proud sponsors of Greg Secker.

 

[pboyles]

Hi Guys,
I am currently looking for another SB company to trade stacks on the LSE as the one I'm currently with keeps widening spreads before my trade completes.

I was going to take a look at ETX Capital after seeing it advertised on this forum. Are you saying they are as bad as the rest?

Ian

No better and no worse than the rest.

 

[iandh2010]

Hi pboyles,
I did see mention of the Virtual Dealer plugin which you say that ETX Capital use. What is this all about and is that good or bad?
Ian

 

[timsk]

P.S My only concern is that I have placed many trades with ETX Capital and have never been issued with even one " positive slippage" fill in many hundreds of trades.However, I have recieved many "negative slippage " fills even in relatively slow moving markets.

Hi macbund,
If you're using market orders then some slippage is always a possibility - depending upon the instrument you're trading and the volatility on the day etc.

I've had an account with ETX for years and trade Wall St - Daily Rolling which is the cash equivalent of the YM e-mini futures contract that I traded with Infinity Futures - a direct market access broker (DMA). The latter has a more sophisticated platform and is the better bet for certain trading styles - most notably scalping. However, in terms of slippage, I can't honestly say Infinity is any better than ETX. Certainly, I think anyone with the view that all SB brokers are a bunch of crooks and that life is positively wonderful and rosy on the DMA side of the fence is likely to be in for a bit of a shock, IMO.

Just my £0.02p worth.
Tim.

 

[malaguti]

I'm with Tim. Had an ETX account as long as I've been trading. Others have popped up along the way, MF Global, IG, CMC, City Index, gecko and many many others. ETX is the only one thats been there along the way. If I was incurring slippage that wasn't normal or expected I'd have walked a long time ago.

 

[pboyles]

Hi pboyles,
I did see mention of the Virtual Dealer plugin which you say that ETX Capital use. What is this all about and is that good or bad?
Ian

Well it can't be good, the plugin is designed to do many things including controlling positive and negative slippage. Quite a few companies have been fined for defrauding their clients using asymetrical slippage. Metatrader have done quite a good job of burying the information and any proof is usually met with threats of legal action.

 

[pboyles]

Here is one example.

IKON fined $320,000 for Virtual Dealer | Forex Magnates

 

[barjon]

I'm with Tim. Had an ETX account as long as I've been trading. Others have popped up along the way, MF Global, IG, CMC, City Index, gecko and many many others. ETX is the only one thats been there along the way. If I was incurring slippage that wasn't normal or expected I'd have walked a long time ago.

Me too. I've got a play account with them and never had any noticeable problem. Don't use their MT4 offering though, so the infamous plug-in wouldn't be a factor anyway.

 

[timsk]

. . . Don't use their MT4 offering though, so the infamous plug-in wouldn't be a factor anyway.

Good point Jon.
I don't use MT4 either, so I'm in the same boat.
Tim.

 

[mike.]

So, am i right in thinking that the vd plugin is only used in the mt4 mt5 platforms and not in any other broker supplied platform ?

 

[pboyles]

So, am i right in thinking that the vd plugin is only used in the mt4 mt5 platforms and not in any other broker supplied platform ?

The virtual dealer plugin is built for Metatrader by Boston Technologies. So whilst this particular plugin is only used on Metatrader there may well be similar applications in existence for other trading platforms.

 

[macbund]

The virtual dealer plugin is built for Metatrader by Boston Technologies. So whilst this particular plugin is only used on Metatrader there may well be similar applications in existence for other trading platforms.

I accept that using limit stop orders I will sometimes recieve negative slippage fills, just as I would do using DMA.However, I am just concerned that I have never, even once, recieved a positive slippage fill in all the many hundreds of trades I have conducted, which I do many times when trading via DMA.

Once again.Can someone from ETX please confirm or deny that the company uses the "Virtual Dealer Plugin" to execute trades with?

Many Thanks

Mac.

 

[pboyles]

I accept that using limit stop orders I will sometimes recieve negative slippage fills, just as I would do using DMA.However, I am just concerned that I have never, even once, recieved a positive slippage fill in all the many hundreds of trades I have conducted, which I do many times when trading via DMA.

Once again.Can someone from ETX please confirm or deny that the company uses the "Virtual Dealer Plugin" to execute trades with?

Many Thanks

Mac.

They're not going to admit defrauding you by using asymetrical slippage. They have already admitted using the plugin but stated it was not being used to defraud their clients.

 

[barjon]

They're not going to admit defrauding you by using asymetrical slippage. They have already admitted using the plugin but stated it was not being used to defraud their clients.

And I suppose the difference between us is that you believe reputable companies guilty until proved innocent (which is a difficult task), whereas I'm prepared to believe them innocent until proved guilty (which is easier). Admittedly, to have such a tool as the plug-in with the capability for dodgy dealing is not the wisest move for an honest company, whatever other "innocent" benefits it may have.

Didn't some guy post about a method(?) (programme?) which enables you to see whether the plug-in is being used in such a way? Something like that would be good, otherwise one can only go by personal experience and mine doesn't square with the opening post.

 

[pboyles]

And I suppose the difference between us is that you believe reputable companies guilty until proved innocent (which is a difficult task), whereas I'm prepared to believe them innocent until proved guilty (which is easier). Admittedly, to have such a tool as the plug-in with the capability for dodgy dealing is not the wisest move for an honest company, whatever other "innocent" benefits it may have.

Well I suppose we're back to the old Neville Chamberlain analogies again, you want to just give them a chance and I reckon they're up to no good and shouldn't be trusted.

 

[Vasco da Banana]

And I suppose the difference between us is that you believe reputable companies guilty until proved innocent (which is a difficult task), whereas I'm prepared to believe them innocent until proved guilty (which is easier). Admittedly, to have such a tool as the plug-in with the capability for dodgy dealing is not the wisest move for an honest company, whatever other "innocent" benefits it may have.

Didn't some guy post about a method(?) (programme?) which enables you to see whether the plug-in is being used in such a way? Something like that would be good, otherwise one can only go by personal experience and mine doesn't square with the opening post.

I had an ETX account from when they first appeared. In my experience they gave more negative slippage than any other SB, and I can't remember ever getting any positive slippage.

With a futs broker slippage is part of the way the market works. With SB it's artificial, and part of the way the providers make their profit.

Apart from MT4's infamous plug-in, I think the Ariel platform that most SBs use, or used, had an adjustable slippage feature. They even boasted about it
on their website.