MT4 Brokers - Warning

[pboyles]

Isn't that both sides though? It automatically fills you at the next price whatever it is. I don't mind that. If it trades through my price then I should get filled at the next price. Sometimes it's in your favour and sometimes against, but at least it's symmetrical. What are you calling slippages? 0.5 ticks etc..?

Things like the virtual dealer plugin are designed to ensure it isn't both sides, or at least not equally. FXCM made millions doing it, it was free money for them and god knows how long they got away with it. I would guess that all brokers are at it to some degree or other, perhaps using different tools.

 

[x4x]

Isn't that both sides though? It automatically fills you at the next price whatever it is. I don't mind that. If it trades through my price then I should get filled at the next price. Sometimes it's in your favour and sometimes against, but at least it's symmetrical. What are you calling slippages? 0.5 ticks etc..?

To be honest I can't remember 100%, I did get positive slippage occasionally, but far less often than negative slippage. If I remember correctly it was often as much as a couple of points negative, and fractions of a point positive.

I always enter on Buy/Sell stop orders, IG get me in and out on the price 90% of the time, and when I do get slippage I feel it is fair.

 

[brettus]

To be honest I can't remember 100%, I did get positive slippage occasionally, but far less often than negative slippage. If I remember correctly it was often as much as a couple of points negative, and fractions of a point positive.

I always enter on Buy/Sell stop orders, IG get me in and out on the price 90% of the time, and when I do get slippage I feel it is fair.

Are you getting out at market to take profit and leaving stop losses for losing trades? That could skew your thoughts a little bit.

 

[x4x]

Yeah, that is pretty much how I trade - but don't seem to have the same problem with IG - but then they're not no.1 for no reason.

 

[Jason Rogers]

Has anyone been filled on a better price on a limit trade from the most reputable spread betting company out there IG Index? And have you ever been slipped? This is exactly why FXCM got fined. Because they didn't pass on positive slippage. Yet they hedge all their business with bnp paribas, who I have dealt with and their prices were ridiculous especially around big volatile moves. I'm talking 100 point slippages lower/higher than any other bank quoting a price.

Hi Brettus,

Ever order with FXCM, including market, entry, limit and stop orders, is able to receive positive slippage with FXCM, subject to available liquidity. If you want to increase the likelihood of receiving positive slippage, then you should use limit and limit entry orders which can only be filled at your price or better. Slippage stats from previous years execution display this:

What every trader should do is pose to their broker whether they are eligible to receive positive slippage on trades and compare your execution price vs. the price you requested. Often times what you may find is that if you are on the right side of the market move you will receive a re-quote for the "correct price" rather than positive slippage, and negative slippage when on the wrong side of the market.

Jason

 

[pboyles]

Hi Brettus,

Ever order with FXCM, including market, entry, limit and stop orders, is able to receive positive slippage with FXCM, subject to available liquidity. If you want to increase the likelihood of receiving positive slippage, then you should use limit and limit entry orders which can only be filled at your price or better. Slippage stats from previous years execution display this:

What every trader should do is pose to their broker whether they are eligible to receive positive slippage on trades and compare your execution price vs. the price you requested. Often times what you may find is that if you are on the right side of the market move you will receive a re-quote for the "correct price" rather than positive slippage, and negative slippage when on the wrong side of the market.

Jason

Jason

When will you be compensating your non US clients for the loses they incurred due to your dishonest slippage practices?

Forex Capital Markets LLC Ordered to Pay More Than $14.2 Million to Settle CFTC Charges Relating to Its Failure to Supervise Customer Accounts

 

[Jason Rogers]

Jason

When will you be compensating your non US clients for the loses they incurred due to your dishonest slippage practices?

Out of curiosity. Do you agree with holding all brokers to the same standards that FXCM offers for positive slippage? Or should brokers be allowed to re-quote rather than passing through positive slippage to the trader?