Yes I have been trading live with them for quite some time. They are absolutely one of my favorite brokers. Very narrow spread on the indices. They will give you slippage but just as often positive slippage. The only bad thing is, they don't have auto stop loss in points in the order ticket, so be aware if you don't feel secure setting the stop loss afterwards.
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Interesting that you like 'auto -stops', gle, and see their absence as a negative, because I can't be the only one who avoids any firm that uses them - with a passion. Each to their own, I suppose...
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I am interested to know why you find an auto stop feature negative as such. It can't be many platforms around that doesn't include this feature.
certainly gle.
For several reasons I personally can't stand auto stops. I respect that your strategy may well accommodate auto stops, and frankly, more power to you! Also, for newcomers, I definitely believe that auto stops are a very good idea.
Nonetheless, I'm at this since the 90's, and scale in almost all my positions, and I really don't need the platform to put an arbitrary stop, invariably (from what I've seen) where I wouldn't put it myself. So I really do feel that those firms which deploy auto stops should instead allow each individual client to turnon or off same as a platform "option". Then those who like the comfort of knowing that the platform has set an arbitrary stop may continue as they are, and anyone else may, at his own choice, switch to using manual stops.
I would say that if you took out the LC group of sb firms, you are left with a fair number of firms which allow clients to set their own stops, including IG, Spreadco, ETX, & last time I used them, CMC. Also. there are, as I'm sure you're all too aware, several other ways of managing risk exposure than just putting in a stop loss. What's more, if I'm, for just one example, short dax and long ftse, I may (depending on circumstances) not even want any stop.
Anyway, as I say, each to their own. YMMV. But I'm just grateful, given my own strategy, that there are plenty of firms which allow stop setting to be manually set.
For several reasons I personally can't stand auto stops. I respect that your strategy may well accommodate auto stops, and frankly, more power to you! Also, for newcomers, I definitely believe that auto stops are a very good idea.
Nonetheless, I'm at this since the 90's, and scale in almost all my positions, and I really don't need the platform to put an arbitrary stop, invariably (from what I've seen) where I wouldn't put it myself. So I really do feel that those firms which deploy auto stops should instead allow each individual client to turnon or off same as a platform "option". Then those who like the comfort of knowing that the platform has set an arbitrary stop may continue as they are, and anyone else may, at his own choice, switch to using manual stops.
I would say that if you took out the LC group of sb firms, you are left with a fair number of firms which allow clients to set their own stops, including IG, Spreadco, ETX, & last time I used them, CMC. Also. there are, as I'm sure you're all too aware, several other ways of managing risk exposure than just putting in a stop loss. What's more, if I'm, for just one example, short dax and long ftse, I may (depending on circumstances) not even want any stop.
Anyway, as I say, each to their own. YMMV. But I'm just grateful, given my own strategy, that there are plenty of firms which allow stop setting to be manually set.
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@ tar Indeed I do believe we've been following each other. In other words, just as you've described, I wouldn't want a default (or auto) stop loss *other than* as a platform option.
EDIT: for example London Capital Group - most of their whitelabels enforce an auto stop loss feature, which is not an option. In other words, if a client opens a position their system automatically generates a concordant stop loss, at a predetermined and arbitrary level. And there is no option to turn such off, as a client of theirs. Even though a client may alter same *after* the position is opened, this is what I don't want. Hope I've made myself clear 🙂
EDIT: for example London Capital Group - most of their whitelabels enforce an auto stop loss feature, which is not an option. In other words, if a client opens a position their system automatically generates a concordant stop loss, at a predetermined and arbitrary level. And there is no option to turn such off, as a client of theirs. Even though a client may alter same *after* the position is opened, this is what I don't want. Hope I've made myself clear 🙂
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tar
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Its optional and its a useful feature to have in a platform , Oanda has it , that's different than the automated mandatory SL that CS has - which i hate - ...
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Optional is fine with me. Thank you for pointing that out. By saying it's optional, I trust you mean that DF markets has an optional auto generated stop loss, so that if a client also wants to open positions without any stop loss and at a later point in time, place one, then that is allowed too.
tar
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Dont know about DF markets ...
mike.
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@ peakoil, I think im right in saying that the auto stop loss used by LCG white-labels like you mentioned is applied when you open a new trade on the ticket is it not ?. Therefore, can this not be cancelled or amended before the trade is placed ? I know its just to protect you from any spikes until the trade is opened. furthermore, afik, Its not possible to scale in when opening a SB position, only scale out.
@mike, as I understand the LCG way... the stop loss is auto generated just as you say however, I stand corrected on this if wrong, but AFAIK it cannot be cancelled or amended *before* the trade is placed. After placing the trade is... another matter, and I do believe the SL may be amended then.
Their system is, as you say, not really suitable for scaling in, *unless* you want to amend every one of their stops with every opening. Which is partly why I don't use them. HTH
Their system is, as you say, not really suitable for scaling in, *unless* you want to amend every one of their stops with every opening. Which is partly why I don't use them. HTH
mike.
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Im just going to log into my intertrader account now and see, I have never seen it as a problem having the auto s/l.
Im fairly certain though, once you open a buy position for example @ £5 per point, there is no " buy " option to scale in and up your stake once the trade is placed, but you can scale out a position only if its in profit.
Im fairly certain though, once you open a buy position for example @ £5 per point, there is no " buy " option to scale in and up your stake once the trade is placed, but you can scale out a position only if its in profit.
Cheers mike.
Just before I go, I do agree that for many people a computer auto generated SL fits in with their strategy. Just not as well with mine, as manually setting stops (or not).
I have to go now but I'll be back later and I'll be interested in reading further. ty
Just before I go, I do agree that for many people a computer auto generated SL fits in with their strategy. Just not as well with mine, as manually setting stops (or not).
I have to go now but I'll be back later and I'll be interested in reading further. ty
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Yes good that you say "optional", a user predefine auto generated stop loss in points, is what I actually meant, this to make myself clear. Many like me doesn't like to "fiddle" around with numbers setting the stop loss, especially in a volatile market.
DF Markets do not have this auto stop feature, but you can set it after opening the trade in dollar lost, which make it a little bit easier. Still you are not doing it in the same instant as you are opening the trade. As I pointed out before, not many platforms left without the option to set a user auto generated predefine stop loss in points. I come to think of only a few, Prospreads being one, and DF Markets of course, as they were the reason for this discussion taking place.
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There are so many of these guys popping up. 0.6 pip spread – they have to be making their money somewhere, most likely by running a book and relying on chipping away with bad fills and re-quotes. I prefer ECNs with access to bank liquidity. Bigger spreads and charges, but you know what you’re getting – saves you a fortune in the long run.
Remember Worldspreads? 0 pips. They’re not working for free! What happened to them?!
If you give it a go, let us know how they are!
Yes you are probably right, but DF Markets have been good trading with and I would be surprised if you find a single bad review out there. The average spread is 1 point on the DF platform I am trading. I did have a look at DF platforms and apparently they offer ECN as well.
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Sounds good! Please post if things change, might give them a whirl.
