Is ig having my strides down?

Shadowman540

Member
74 2
Hello chaps,
I've not much experience with live day trading, so I don't if this is normal.
Whilst trying to exit a position there's a message comes up saying "sorry couldn't carry out at this time", or words to that effect, happend a few times, I had to log out then back in once to get out.
I usually swing trade, but been working on d trading coupe of days a week.
Trades above we're about £500.00 or so to the good.
Makes me feel a bit nervy!, any ideas?, legit?, paranoid?.
Thanks
 
M

member275544

0 0
Hello chaps,
I've not much experience with live day trading, so I don't if this is normal.
Whilst trying to exit a position there's a message comes up saying "sorry couldn't carry out at this time", or words to that effect, happend a few times, I had to log out then back in once to get out.
I usually swing trade, but been working on d trading coupe of days a week.
Trades above we're about £500.00 or so to the good.
Makes me feel a bit nervy!, any ideas?, legit?, paranoid?.
Thanks

things like that, and refer to dealer, please phone dealing desk, and delays in exiting were all very common for me. i left them and went back some time later and still suffered the same thing. never used them since, about 2 years ago
 

Shadowman540

Member
74 2
things like that, and refer to dealer, please phone dealing desk, and delays in exiting were all very common for me. i left them and went back some time later and still suffered the same thing. never used them since, about 2 years ago

Hi M,
Where are you now?, if you don't mind me asking, I was thinking of fxcm, jason appears pretty straight, and the whole dma, makes a lot of sense.
There's a lot of "talk", about ig and this sort of thing, just dosnt make good business sense for the fim to get involved in it, the other side of the platforms all good, but if its going to get a bit, "dark", every now and then iam over it.
Cheers
 
  • Like
Reactions: Jason Rogers

mike.

Senior member
2,099 706
Hi shadowman, Im about open an account with fxcm myself. mainly to try out a scalping strat ive been working on. Don't get confused with their NDD account and DMA, as jason once explained to me, its just a computer that handles your execution and is not direct access.
 
M

member275544

0 0
Hi M,
Where are you now?, if you don't mind me asking, I was thinking of fxcm, jason appears pretty straight, and the whole dma, makes a lot of sense.
There's a lot of "talk", about ig and this sort of thing, just dosnt make good business sense for the fim to get involved in it, the other side of the platforms all good, but if its going to get a bit, "dark", every now and then iam over it.
Cheers

i haven't looked at fxcm, but as you say, and same as mike, jason does a lot by just appearing on these forums.
Personally I've been using etx all this time now. I would have preferred a wider range of products but that would just detract from just how reliable they are.
 

Shadowman540

Member
74 2
i haven't looked at fxcm, but as you say, and same as mike, jason does a lot by just appearing on these forums.
Personally I've been using etx all this time now. I would have preferred a wider range of products but that would just detract from just how reliable they are.

Thanks M, always helpfull
 

PualoP

Well-known member
402 35
FXCM!?! Why of why would you want to trade with a company that has been caught shafting their clients by several financial regulators?
 

lucas_king

Member
96 3
Hello chaps,
I've not much experience with live day trading, so I don't if this is normal.
Whilst trying to exit a position there's a message comes up saying "sorry couldn't carry out at this time", or words to that effect, happend a few times, I had to log out then back in once to get out.
I usually swing trade, but been working on d trading coupe of days a week.
Trades above we're about £500.00 or so to the good.
Makes me feel a bit nervy!, any ideas?, legit?, paranoid?.
Thanks

It sounds like you are spread betting as those ‘re-pricing’ messages tend to happen when the company is not offering that trade in those sizes.

You are probably better off trading via Direct Market Access which means you will not get those error messages
 

Jason Rogers

Senior member
2,768 92
Hi ZEN archer,

First, I want to take this opportunity to say that FXCM should have passed on positive slippage to our clients from the beginning. As part of our settlement with the NFA, we reimbursed all FXCM US clients including those living outside the US for positive slippage they didn't receive prior to 2010. Our system was updated in 2010 to pass on all positive slippage to our clients, and they have received the benefit of price improvements since that time. Looking at trades over a recent 6-month period, FXCM clients benefited from over $15 million in price improvements.

Is it true they never refunded non US customers?

It's important to note that each jurisdiction has specific rules that we must follow. While it took longer for the FCA to complete their review, once a settlement was reached in February of this year, we gave price improvements to all current and former FXCM UK clients who were affected, whether they lived in the UK or internationally. Furthermore, we took the proactive step in 2010 of making sure the updates we made to our execution system at that time benefited all of our clients worldwide regardless of their jurisdiction. That means FXCM is currently one of the only firms in the industry to give price improvements on both limit orders and market orders.

By contrast, when a dealing desk broker re-quotes traders, the trader often receives a re-quote when the market moves in their favor, but does not receive a re-quote when the market moves against them. In other words, the process is asymmetrically applied to the broker’s benefit. It's possible that this asymmetrical application of re-quotes could cause traders to miss out on potential price improvement. That's why we welcome the FCA's announcement that they're conducting a review of the execution practices of 40 firms in the industry, which we hope will uphold the same high standards and execution policies FXCM implemented back in 2010.
 
  • Like
Reactions: Shadowman540

ZEN archer

Experienced member
1,528 241
As part of our settlement with the NFA, we reimbursed all FXCM US clients including those living outside the US for positive slippage they didn't receive prior to 2010. Our system was updated in 2010 to pass on all positive slippage to our clients, and they have received the benefit of price improvements since that time.

Thank you Jason.

So if I understood properly non US clients were not refunded that time (prior to 2010).

It’s not that I was affected in any way - just exploring different options and need all the information available.

Personally I prefer brokers who treat their clients fairly and equally irrelevant of their nationality or jurisdiction.
 

Shadowman540

Member
74 2
Cheers all for the input,
Yes I spread bet a couple of indices, day trading with ig only 2 days a week at the mo if that, mostly swing trade on longer t period, both of which only for a couple of months.
The swing trades pretty much is not an issue, its the day trading where it starts to get a bit, "oh yeah its not working at the mo mate".
There must be loads of brokers that you guys use that are "straight", its not like iam lighting up the place with massive positions, there all under £25 pp at the this time ish.
Just for kicks, iam trading £200 pp where would I go, where does Forexmosperian go or some other day trading demi god?.
so far its ETX, or fxcm, iam all ears..
Thanks again all.
 

Jason Rogers

Senior member
2,768 92
Personally I prefer brokers who treat their clients fairly and equally irrelevant of their nationality or jurisdiction.

You make a good point.

In compliance with NFA rules regarding Price Slippage and Price Re-quoting that were finalized in 2012, FXCM LLC provides daily trade reports to the NFA which monitors and supervises FXCM LLC's activity including information on the price where all client orders are filled and the corresponding price where those orders are offset with our liquidity providers. All of FXCM's global trading entities including FXCM UK execute client rolling spot forex transactions as a riskless principal with FXCM LLC, so the same execution standards are applied for all of our clients worldwide.

There are no re-quotes at FXCM, and all our clients around the world can benefit from the positive slippage in full whenever it's available.

Taking a look at FXCM price improvements today…

Analyzing a total of 43,128,901 forex and metal trades executed by FXCM during the six month period of August 2013 -January 2014, 6,391,641 or 15% of the trades benefitted from price improvements totaling $15,726,247. Of the total number of trades executed, 4,648,672 trades were limit and limit entry orders. Sixty percent of those limit and limit entry orders were positively slipped providing clients $7,296,520 in price improvements. Of the total trades executed in the six month period of August 2013 - January 2014 clients were executed at their requested price 73% of the time with no slippage. Only 12% of orders were slipped negatively.

As mentioned before, FXCM is currently one of the only firms in the industry to give price improvements on both market and limit orders.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock