I've been old ticked to death for the past 2 months on my live account. Just 30 minutes ago, I watched a trade go 3 pips past my TP on the trade terminal for 2 seconds and nothing, I checked the journal and true enough, old tick. My parallel live run with my other broker(if I name it will this post be deleted?) hit and closed at this TP.
The trade dropped back down to 1 pip profit and stagnated for 10 minutes and I thought screw it, I'll manually close it now. On closing, it showed up as a loss of 0.7 pips. I checked the market watch immediately and the price did not tally and was higher than the Ask price(the trade was a short). So I gave it the benefit of the doubt that maybe the price did for a millisecond go up, and I went to check the highest point on the candle that the trade closed at. Funny thing was, the highest point including the spread was actually lower than my close request price.
What's this? A hidden commission?
Trade data across 2 months show the same thing of around 1.5 to 1.7 pips skimmed off, that an identical setup on my other broker would not. It just happened to be that I was watching it as it happened this time.
All this skimming off trades on the pretext of 'slippage' and old ticking just comes across as a... petty way of making money. Surely FXCM could do better.
I can see Jason does his best in representing and marketing his company but I doubt he really knows the performance issues that traders face with it, or perhaps he is the poor frontman to deflect all the issues.
We're not all dumb. Quite a number of us traders happen to know how to count. It'd get to a point where a critical number of customers would also begin to see this performance issue and then no amount of marketing will be able to get them to come back. It's a question of whether you feel compelled to address the issue or continue brushing it aside but whatever the case, I'm voting with my feet.
The trade dropped back down to 1 pip profit and stagnated for 10 minutes and I thought screw it, I'll manually close it now. On closing, it showed up as a loss of 0.7 pips. I checked the market watch immediately and the price did not tally and was higher than the Ask price(the trade was a short). So I gave it the benefit of the doubt that maybe the price did for a millisecond go up, and I went to check the highest point on the candle that the trade closed at. Funny thing was, the highest point including the spread was actually lower than my close request price.
What's this? A hidden commission?
Trade data across 2 months show the same thing of around 1.5 to 1.7 pips skimmed off, that an identical setup on my other broker would not. It just happened to be that I was watching it as it happened this time.
All this skimming off trades on the pretext of 'slippage' and old ticking just comes across as a... petty way of making money. Surely FXCM could do better.
I can see Jason does his best in representing and marketing his company but I doubt he really knows the performance issues that traders face with it, or perhaps he is the poor frontman to deflect all the issues.
We're not all dumb. Quite a number of us traders happen to know how to count. It'd get to a point where a critical number of customers would also begin to see this performance issue and then no amount of marketing will be able to get them to come back. It's a question of whether you feel compelled to address the issue or continue brushing it aside but whatever the case, I'm voting with my feet.
