FXCM stoploss is dangerous.

[pboyles]

If someone were to simultaneously record a live SB platform with a position running and another live platform from the same company without a position it would probably be more insightful. I dont know what the above video proves as they will just say that the two price feeds are different.

 

[PualoP]

The trader was trading euro usd and cable, the most liquid currencies.Do you have liquidity problems on the majors?

If this continues , the internet will be full of hundreds of videos and threads like this about FXCM.

FXCM just quoting what ever the F@#K the like.

 

[pboyles]

Give us more details on the platforms, which is SB, which is the real market, is there a position open on either?

 

[oildaytrader]

If someone were to simultaneously record a live SB platform with a position running and another live platform from the same company without a position it would probably be more insightful. I dont know what the above video proves as they will just say that the two price feeds are different.

What world do you live in ?There is only one currency market and price of brokers should not vary by more than 5 pips.Either there are mistakes and software errors or you get bucket shop feeds.


http://www.forexfactory.com/showthread.php?t=5450

 

[pboyles]

What world do you live in ?There is only one currency market and price of brokers should not vary by more than 5 pips.Either there are mistakes and software errors or you get bucket shop feeds.


http://www.forexfactory.com/showthread.php?t=5450

I think you need to go back and do a bit more research on forex and how it is traded.

 

[oildaytrader]

I think you need to go back and do a bit more research on forex and how it is traded.

You need to learn about the forex market structure and how the brokers could make their money on slippage, we know all about the the players in the forex game.

wake up .

A stop loss placed hours in advance and set at 50 pips away can't be filled by broker at exact price?Broker needs to start looking for best price for stop loss placed hours in advance , in forex market?

Obvious who needs to research.

 

[Jason Rogers]

The trader was trading euro usd and cable, the most liquid currencies.Do you have liquidity problems on the majors?

If this continues , the internet will be full of hundreds of videos and threads like this about FXCM.



Jason i find myself in total agreement with odt. you cant be telling us that the market on majors frequently gaps through prices,surely not. I understand not being able to get a qouted price from time to time,but not a stop that is 7 pips adrift. Im sure that the price was traded at and therefore you are liable to pay at the correct stop. With so many markey makers what you have said is wrong and I ask for a more detailed explanation. Are you saying that in normal trading hours when volatile all the trading houses will have the same gaps?

Hi, I made a reply to ODT's post yesterday on this thread

Hi O D T,

FXCM did experience lagging rates at some points over the past couple of weeks. This was due to a substantial increase in the number of quotes being sent from the banks. Making things as simple as possible, FXCM receives prices from over 10 banks and then displays the best bid/ask price out of all the pricing received. Processing the substantial increase in data caused a lag in the prices making their way onto the platform. Our technical support team was able to identify the problem to handle the increased data. Traders affected by a technical issue on our side can open a trade audit any time and we will review the trades to make any adjustments if necessary. Also, the website www.fxstatus.com is updated any time there are technical issues.

-Jason

Please let me know if you have any questions.

-Jason

 

[Jason Rogers]

I have seen where the prices can be both a blessing and a curse from FXCM, sometimes traders gain a little sometimes they loose. Where I have a problem with FXCM is their support. case in point; my wife has a little micro account with them and one day a couple weeks ago (best i can recall) she clicked & placed a trade on the USD/JPY but the trade was placed on the EUR/USD. When she realized this she closed the trade for a minor loss.

She tried several more times and finally got the trade entered correctly. When she tried to place a counter trade (stop loss) the platform had returned to the previous state of not allowing an order on the USD/JPY. She tried multiple times, became frustrated and asked for my help. I tried the platform and observed that the USD/JPY cross was not one of the choices even though she was getting quotes, just as shown in the video.

We shut down the FXCM platform restarted it and after awhile the cross reappeared and the order was placed. She sent an email (as required) with all info and asked "How to overcome this obvious problem with the platform?" She never asked for a refund, she only wanted to know "how to fix the problem?"

Their reply was "You can't put stop loss orders in on this platform, you must transfer your account to the UK branch."

This reply was at best a waste of time, but more importantly was insulting to anyones intelligence as a stop loss can be placed it is simply a reversing order.

btw...she pulls maintenance on her computer daily for viruses, Trojans, greyware, malware, cleaning the registry, defraging the hard drive, etc; so we know the problem was not her computer and since mine is on the same network and had no difficulty during that time it was not the Internet connection

Hi da-net,

Stop loss orders can be placed on the FX Trading Station II, and market orders and entry orders can be used to net out trades if hedging is disabled. While I'm not familiar with all of the details as to what you contacted the support team about, I would be happy to help if you would like to email me at [email protected] .

Jason

 

[pboyles]

You need to learn about the forex market structure and how the brokers could make their money on slippage, we know all about the the players in the forex game.

wake up .

A stop loss placed hours in advance and set at 50 pips away can't be filled by broker at exact price?Broker needs to start looking for best price for stop loss placed hours in advance , in forex market?

Obvious who needs to research.

I'm not arguing that forex brokers induce slippage to make more money from clients, that is clear when you look at the technology they use, it is designed to induce slippage.

My point is that posting two videos with price feeds from unknown sources is not going to prove it. Forex isnt traded on an exchange so there is no single 'correct' price.

 

[oildaytrader]

We really do not know who produced the video or why they produced the video.There could be a lot of reasons like slow internet on one broker feed,platform freezing etc

The market is too efficient to vary by more than a few pips.

 

[Jason Rogers]

We really do not know who produced the video or why they produced the video.There could be a lot of reasons like slow internet on one broker feed,platform freezing etc

The market is too efficient to vary by more than a few pips.

Hi O D T,

I can confirm it was a technical issue on our side that has been corrected, and agree that it is unlikely for the market to vary by more than a few pips from broker to broker. This problem was caused by a substantial increase in the number of quotes coming in from the banks quoting on our platform, which created a lag in pricing on the platform. The problem has been corrected and we are actively monitoring the pricing to make sure it does not happen again. Any traders slipped on their trades due to this can open a trade audit and we will review the trade for a possible adjustment.

-Jason

 

[da-net]

jason,

just looked @ my wife's fxcm platform and the spreads as i type @ 5 pm est ; GBP/USD 16, USD/CAD 20, EUR/USD 14...that's enough examples, you get the idea


what gives??

edit: correction USD/CAD just went to 28 pip spread

 

[Jason Rogers]

jason,

just looked @ my wife's fxcm platform and the spreads as i type @ 5 pm est ; GBP/USD 16, USD/CAD 20, EUR/USD 14...that's enough examples, you get the idea


what gives??

edit: correction USD/CAD just went to 28 pip spread

Hi da-net,

It's not uncommon to see spreads widen at 5pm EST whenever rollover occurs. Spreads yesterday at this period were much wider due to the volatility we have seen in the market as a whole.

Jason

 

[wackypete2]

jason,

just looked @ my wife's fxcm platform and the spreads as i type @ 5 pm est ; GBP/USD 16, USD/CAD 20, EUR/USD 14...that's enough examples, you get the idea


what gives??

edit: correction USD/CAD just went to 28 pip spread

This is going to be controversial but I am going to say it anyway. I don't endorse bucket shop type brokers, but sure as heck, I'd rather trade with a bucket shop broker offering me 2 pip spread than an ecn/stp broker with a 20 pip spread on the same liquid currency. If you care to differ so be it. Good luck winning anything with your 20 pip spreads.

Peter

 

[oildaytrader]

jason,

just looked @ my wife's fxcm platform and the spreads as i type @ 5 pm est ; GBP/USD 16, USD/CAD 20, EUR/USD 14...that's enough examples, you get the idea


what gives??

edit: correction USD/CAD just went to 28 pip spread

How wide are the spreads around news releases?

 

[wackypete2]

wake up .

hehe, yes, wake up, pboyles! You dare to question the wisdom of the legendary ODT?? What the hell were you thinking?? You deserve a slap in the head.

Peter

 

[da-net]

Hi da-net,

It's not uncommon to see spreads widen at 5pm EST whenever rollover occurs. Spreads yesterday at this period were much wider due to the volatility we have seen in the market as a whole.

Jason

Jason,

I appreciate the answer. I have never seen spreads that wide with other STP/ECN brokers @ that time of day, even on Wednesdays when traders close positions to keep from paying the extended swap or during the JPY unwind a year or so ago and that was extreme volatility

So that leaves us possibilities such as; Does FXCM do business with "bad banks" or does FXCM add a little to the spread for profits, or is your statement corporate truth from FXCM

This is going to be controversial but I am going to say it anyway. I don't endorse bucket shop type brokers, but sure as heck, I'd rather trade with a bucket shop broker offering me 2 pip spread than an ecn/stp broker with a 20 pip spread on the same liquid currency. If you care to differ so be it. Good luck winning anything with your 20 pip spreads.

Peter

Wacky, I have to agree with you. I am very happy that it is a micro account and she trades small.

How wide are the spreads around news releases?

I don't know as I've never looked @ their platform while she was trading until she had a problem I outlined earlier. Also I have never seen their full lot platform or quotes on it.

 

[Jason Rogers]

This is going to be controversial but I am going to say it anyway. I don't endorse bucket shop type brokers, but sure as heck, I'd rather trade with a bucket shop broker offering me 2 pip spread than an ecn/stp broker with a 20 pip spread on the same liquid currency. If you care to differ so be it. Good luck winning anything with your 20 pip spreads.

Peter

The problem is that that is the most likely time you're going to be re-quoted from a dealing desk because they're offering a 2 pip spread whenever the actual price they can offset at is much worse. Unless of course you're on the wrong side of the trade and you'll be at a loss regardless.

With NDD execution, you know what prices are being offered so you don't have to wait for re-quotes to figure out what price the dealers are actually willing to accept.

 

[Jason Rogers]

So that leaves us possibilities such as; Does FXCM do business with "bad banks" or does FXCM add a little to the spread for profits, or is your statement corporate truth from FXCM

The pip mark-up on the spread (how FXCM is generating revenue) does not change throughout the day.

Also as an FYI, this Friday there is no rollover for any of the currency pairs due to public holidays.

-Jason

 

[lucifer24]

why?

why i set stoploss but it not work and i loss all my money? Did you cheat me FXCM broker???