ETX Capital

[pboyles]

You'll see here that positive slippage was occurring but was not being credited whilst negative slippage was occurring and was being debited.

NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to customers

 

[Shakone]

But you won't ever see it on a SB or FX platform.

I've had positive slippage on an FX platform quite a few times.

Also, if ETX are engaging in practices that cause asymmetric slippage, then you shouldn't trade with them. If they're willing to do this, then what else might they be doing?

However, just because you are slipped negatively more than positively, does not mean that is the broker. It may be about where you place your stops for example.

 

[rawrschach]

Maybe it happens in FX but it has never happened to me on the CME, LIFFE or EUREX.

 

[counter_violent]

I've had positive slippage on an FX platform quite a few times.

Also, if ETX are engaging in practices that cause asymmetric slippage, then you shouldn't trade with them. If they're willing to do this, then what else might they be doing?

However, just because you are slipped negatively more than positively, does not mean that is the broker. It may be about where you place your stops for example.

Did you not hear what boyles said?

But you won't ever see it on a SB or FX platform.

So, clearly i'm mistaken and so are you

 

[pboyles]

Did you not hear what boyles said?

But you won't ever see it on a SB or FX platform.

So, clearly i'm mistaken and so are you

Well you didn't get to see it with FXCM if that judgement is correct, likewise with a host of others fined for the same thing.

 

[Vasco da Banana]

But you won't ever see it on a SB or FX platform.

I've seen positive slippage on SB, but about ten times less than I've seen negative slippage.

 

[gle101]

please explain how it's possible to get positive slippage

Or if it is a slight delay in the order execution and you get a better price than what you have clicked on.

 

[scose-no-doubt]

I only have a bit of experience with etx from back in the day when I was in the game and when they started up. The main memory that sticks out is when the platform effed up and my long didn't register. I called them up and they reinstated the trade for £70 @ £1 per point. Buttons to some of you guys but after that (and dealing with IG cfd customer service) I always thought they were okay.

In addition, I've always noticed that a lot of t2wers complain about slippage when they're trading data releases e.g nfp etc. Jus sayin...

I don't sb anymore though as I'm out of the game for now so my opinion may not be worth much.

 

[Vasco da Banana]

I only have a bit of experience with etx from back in the day when I was in the game and when they started up. The main memory that sticks out is when the platform effed up and my long didn't register. I called them up and they reinstated the trade for £70 @ £1 per point. Buttons to some of you guys but after that (and dealing with IG cfd customer service) I always thought they were okay.

In addition, I've always noticed that a lot of t2wers complain about slippage when they're trading data releases e.g nfp etc. Jus sayin...

I don't sb anymore though as I'm out of the game for now so my opinion may not be worth much.

OK, they 'fix' things when you call and point out an error, but how many punters are going to bother checking all their fills and then complain about a few points of slippage? That's exactly what this plug-in is all about. Every little bit helps (the SB co).

 

[pboyles]

It certainly does add up. FXCM took $6 million from US clients by manipulating slippage in their favour. Does anyone seriously think its never occurred to a SB compnay to do this sort of thing?

http://www.trade2win.com/boards/for...-restitution-14-2-million-settle-charges.html

 

[gle101]

Yes some SB use slippage as a tool in order to extract extra money from the trader, no doubt about it. Experience traders is aware of this fact and will decide if they will stay on with that particular company or move on to another company or switch to DMA.

In ETX case it is a touch and go for me and and hopefully this attention will give them reason to look over their policy for slippage. Competition and regulation usually take care of this problem as one will trade with a company that offers a good platform, support and service, combined with narrow spread and as little game play as possible. Not many of those around I know, but enough for me to continue trading with market makers.

 

[tar]

It certainly does add up. FXCM took $6 million from US clients by manipulating slippage in their favour. Does anyone seriously think its never occurred to a SB compnay to do this sort of thing?

http://www.trade2win.com/boards/for...-restitution-14-2-million-settle-charges.html

FXCM is a broker that's why it was fined for not passing some of "price improvement" to their clients , SB are market makers not brokers : you are betting on their prices .

 

[tar]

Exchange

SEC Fines CBOE $6 million for Short Selling Failures | Forex Magnates

 

[tar]

Futures broker

CFTC Files Case Against Ex-MF Global CEO: Orders Him To Pay $100 Million Penalty | Forex Magnates

 

[tar]

You can tell a great deal about trader competency by the kind of things they talk about...you can also tell who may be making money and who deffo isn't and who is evolved and who is not.

+1

 

[tar]

Point : Successful spread bettors should compare what they pay for slippage and costs vs what they save on taxes ...

 

[ZEN archer]

Successful spread bettors ...

.

 

[counter_violent]

Funny how the 95% are always looking for excuses and scapegoats for their own failure.

 

[peakoil]

Funny how the 95% are always looking for excuses and scapegoats for their own failure.

Counter Violent, as one of the few who hasn't complained too much about slippage, could I respectfully request that folk take more care with that 95% statistic that's freely quoted, as if it were fact - that only 5% consistently win. I stand corrected if wrong, that is to say, unless there has been some recent factual evidence, which was released to back up that particular statistic.

In other words, & again with all respect, unless there is ever sound factual evidence that only 5% are consistent winners, can we please not continue to accept and quote such a statistic as if it were gospel?

OTOH, I can however find evidence that such a statistic is questionable ...to put it mildly.

For just one example, on Jan 9th Capital Spreads wrote in response to a question I posed: "there are no hard and fast rules and (you may be surprised to learn) some 65% of all trades taken by Capital Spreads are profitable for the clients." - which begs the question - just how have we arrived at the magic 95% statistic - *if* it's a valid one?

 

[counter_violent]

Counter Violent, as one of the few who hasn't complained too much about slippage, could I respectfully request that folk take more care with that 95% statistic that's freely quoted, as if it were fact - that only 5% consistently win. I stand corrected if wrong, that is to say, unless there has been some recent factual evidence, which was released to back up that particular statistic.

In other words, & again with all respect, unless there is ever sound factual evidence that only 5% are consistent winners, can we please not continue to accept and quote such a statistic as if it were gospel?

OTOH, I can however find evidence that such a statistic is questionable ...to put it mildly.

For just one example, on Jan 9th Capital Spreads wrote in response to a question I posed: "there are no hard and fast rules and (you may be surprised to learn) some 65% of all trades taken by Capital Spreads are profitable for the clients." - which begs the question - just how have we arrived at the magic 95% statistic - *if* it's a valid one?

I don't think it matters in the slightest what the numbers are for individual profitable closed positions. The 65% figure quoted could simply mean very small wins on average compared to larger losses on average on the other side of the scale.

So, if ETX are making money, then either their customers on the whole are nett losers, or ETX are hedging their winning clients, book risk, or more probably both.

All this talk of slippage is just small potatoes in the grand scheme of things.