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FTMO - For serious traders

  • #4,901
  • Dec 7, 2020 7:35am Dec 7, 2020 7:35am
Quoting Mtinifx
{quote} When I was trading the challenge I must say I didn't have any problems with FTMO. Spreads are quite good, on Gold anyway - ave. 15 - 20 points which I think is a lot better then Hot Forex, etc., etc.
You guys should read well before commenting. I am not saying FTMO spread is bad. I am only asking why I am not getting exact price with Pending Order. Pending Order isn't instant execution and I don't see reason why slippage should be happening with PO during normal market without new release
  • #4,902
  • Dec 7, 2020 9:27am Dec 7, 2020 9:27am
Quoting stirmatt
{quote} You guys should read well before commenting. I am not saying FTMO spread is bad. I am only asking why I am not getting exact price with Pending Order. Pending Order isn't instant execution and I don't see reason why slippage should be happening with PO during normal market without new release
Slippage can go for you or against you. Any broker where you experience 0 slippage is trading against you. They hold the trade, they "make" the price, so, of course, they fill you at the exact price. Generally speaking, if a broker charges commission but has thinner spreads, they are STP, no commission with marked up spreads, they are a market maker. I personally would never trade with a market maker, to be it's like betting with a bookie where he controls the outcome of the game, but that's just me. Others do fine with them.
  • #4,903
  • Dec 7, 2020 9:29am Dec 7, 2020 9:29am
Quoting stirmatt
{quote} You guys should read well before commenting. I am not saying FTMO spread is bad. I am only asking why I am not getting exact price with Pending Order. Pending Order isn't instant execution and I don't see reason why slippage should be happening with PO during normal market without new release
That's not what Instant execution means Stirmatt. Pending orders can either be instant execution (which Market makers like hotforex offer) or Market execution (which STP/ECN brokers offer).

Brokers like Hotforex offer instant execution with guaranteed prices because your orders are not going to the live market. Whether you set a pending order or you just click "buy" for a market order, you can get the exact price requested because they can give you whatever price you want since they keep your orders in house.

On the other hand, STP brokers send your orders to the live market and your order should be executed at the best available price provided by their liquidity providers. Sometimes you get your exact price, if there is adequate liquidity (someone to buy where you're selling) and sometimes you get a worse off or even better price. This applies to all pending orders, such as TP, SL and limit orders.

It may seem better to go with a market maker just for this reason, but what about spread mark ups and manipulation? What about conflict of interest? Etc
  • #4,904
  • Dec 7, 2020 10:00am Dec 7, 2020 10:00am
Quoting stirmatt
{quote} You guys should read well before commenting. I am not saying FTMO spread is bad. I am only asking why I am not getting exact price with Pending Order. Pending Order isn't instant execution and I don't see reason why slippage should be happening with PO during normal market without new release
You should do your own research on how dealing systems work. If I have a metatrader server and I see a trader who is going to lose, or who i am going to trade against, I will give them instant execution as i want their order. However, this is not how the market works. Pending orders above 500k (stop orders) are unlikely to be executed completely at the requested price due to the fact they are positioned in the direction the market is moving (less liquidity).

It is simple that you are here promoting your brokers, both of which are known to trade against their customers over the years. Hotforex being the more gross of the two and you prove that they are not sending the orders to the market by your statement about stop orders.
  • #4,905
  • Dec 7, 2020 10:13am Dec 7, 2020 10:13am
Hey guys,

I opened another demo account an hour ago.

Finished in less than an hour.

ha..ha...
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Intraday only.
  • #4,906
  • Dec 7, 2020 10:21am Dec 7, 2020 10:21am
Quoting navk
Hey guys, I opened another demo account an hour ago. Finished in less than an hour. ha..ha... {image}
Lol obviously, making profits is/was not an issue for you, stay within the risk parameters and you're set!!
  • #4,907
  • Dec 7, 2020 10:24am Dec 7, 2020 10:24am
Quoting Koop
{quote} Lol obviously, making profits is/was not an issue for you, stay within the risk parameters and you're set!!
that is true.

I set stop loss and calculated my losses.

And it was within limits
Intraday only.
  • #4,908
  • Dec 7, 2020 10:27am Dec 7, 2020 10:27am
this is mt4 statement.
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Intraday only.
  • #4,909
  • Dec 7, 2020 11:51am Dec 7, 2020 11:51am
Quoting navk
this is mt4 statement. {image}
In my opinion these is not good behaviour if trades has gone against you you have down in downside in 1 day...
  • #4,910
  • Dec 7, 2020 11:55am Dec 7, 2020 11:55am
Quoting Koop
{quote} That's not what Instant execution means Stirmatt. Pending orders can either be instant execution (which Market makers like hotforex offer) or Market execution (which STP/ECN brokers offer). Brokers like Hotforex offer instant execution with guaranteed prices because your orders are not going to the live market. Whether you set a pending order or you just click "buy" for a market order, you can get the exact price requested because they can give you whatever price you want since they keep your orders in house. On the other hand, STP brokers...
Wow, I'm learning a lot from here, I have a question, can you give me examples of stp and ecn brokers? I have a verified hotforex account and xm account but I got to know about ftmo just before funding the account. Thanks
  • #4,911
  • Dec 7, 2020 12:32pm Dec 7, 2020 12:32pm
Quoting mizi123
{quote} In my opinion these is not good behaviour if trades has gone against you you have down in downside in 1 day...
12 lots for 50k account is little too much as I know, but 6 lots shall be fine.

6 lots with my system for 50k account , the stop is set at 3288, and loss would be 900 $.

This is less than 2 %.
Intraday only.
  • #4,912
  • Dec 7, 2020 12:39pm Dec 7, 2020 12:39pm
Quoting stirmatt
{quote} You guys should read well before commenting. I am not saying FTMO spread is bad. I am only asking why I am not getting exact price with Pending Order. Pending Order isn't instant execution and I don't see reason why slippage should be happening with PO during normal market without new release
This is why it is so easy to spot folks with underlying agenda. If you really don't know the answer, and you don't have access to google, here is the first link you get when searching market maker forex brokers. Disclaimer: some of these brokers may offer both execution models, one that jumps out right away is pepperstone.

https://55brokers.com/market-making-brokers/

Upon further reading, this site must contain several affiliate links as they are actually promoting the market maker model. Amazing how they try to put a positive spin on it.
  • #4,913
  • Dec 7, 2020 12:50pm Dec 7, 2020 12:50pm
Here is same site with a list of STP brokers. As stated above, several appear on both lists, meaning they offer both. The big takeaway is they provide a definition of how each execution model works.

https://55brokers.com/stp-forex-brokers/
  • #4,914
  • Dec 7, 2020 1:01pm Dec 7, 2020 1:01pm
Quoting pipmaster77
Here is same site with a list of STP brokers. As stated above, several appear on both lists, meaning they offer both. The big takeaway is they provide a definition of how each execution model works. https://55brokers.com/stp-forex-brokers/
STP shouldnt be mistaken from ECN.

You can be STP and go straight to a dealer, ECN is basically a hub of liquidity shouting bids and offers and taking/making them. You can be STP and a b-book broker its just you are STPing straight into your dealer which is a bucket.
  • #4,915
  • Dec 7, 2020 1:33pm Dec 7, 2020 1:33pm
Quoting pipmaster77
{quote} This is why it is so easy to spot folks with underlying agenda. If you really don't know the answer, and you don't have access to google, here is the first link you get when searching market maker forex brokers. Disclaimer: some of these brokers may offer both execution models, one that jumps out right away is pepperstone. https://55brokers.com/market-making-brokers/ Upon further reading, this site must contain several affiliate links as they are actually promoting the market maker model. Amazing how they try to put a positive...
Just because you mentioned Pepperstone ....
I had an account with them for more than 5 years, before they turned down European customers.
The RAZOR account is absolutely ECN, with both positive and negative slippage (for example).

Just out of curiosity (and I don't name any) even a prop company can have both positive and negative slippage.
I performed two distinct operations, on two different pairs (simultaneously and sur real account).
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PS:
I think the numbers are points and not pips. I have not noticed such a striking variation.
I've seen things you people wouldn't believe
  • #4,916
  • Dec 7, 2020 3:30pm Dec 7, 2020 3:30pm
I don't really care if a broker is trading against me or not. Three months of my active trade will teach them a lesson. I have traded with a worst broker called Fleetforex from US in 2009 and still I made huge profit.

If I will be getting slippages on PO then of what use is setting PO?

Almost every broker has negative review, I only deal with issues has affect me not just people's words. I am trading with HF without issue and I am in partnership with them. I took up FTMO challenge because their offer seems reasonable to me and it's a way for me to trade with big fund.
  • #4,917
  • Dec 7, 2020 3:45pm Dec 7, 2020 3:45pm
Quoting stirmatt
I don't really care if a broker is trading against me or not. Three months of my active trade will teach them a lesson. I have traded with a worst broker called Fleetforex from US in 2009 and still I made huge profit. If I will be getting slippages on PO then of what use is setting PO? Almost every broker has negative review, I only deal with issues has affect me not just people's words. I am trading with HF without issue and I am in partnership with them. I took up FTMO challenge because their offer seems reasonable to me and it's a way for me...
I'd put big money on your "huge profit" being less than $1000 if this statement is even remotely true.

Yes we already know you are in partnership with hotforex, thats why you are posting in this thread about them because you want to sucker people into using them under you so you can make a few pennies.

This isnt' the place for it, so go away.
  • #4,918
  • Dec 7, 2020 4:09pm Dec 7, 2020 4:09pm
Quoting Takisd
{quote} I'd put big money on your "huge profit" being less than $1000 if this statement is even remotely true. Yes we already know you are in partnership with hotforex, thats why you are posting in this thread about them because you want to sucker people into using them under you so you can make a few pennies. This isnt' the place for it, so go away.
Can you see the way you are reasoning. Have you ever seen me saying anything good or bad about any broker here except on a few occasions that I have defended FTMO since I joined?

Is it a crime to ask question about slippage on FTMO challenge account that I paid for?

I can't really related with uncultured person like you and this will be the last reply I will ever read from you on FF.
  • #4,919
  • Dec 7, 2020 5:04pm Dec 7, 2020 5:04pm
Quoting Takisd
thats why you are posting in this thread about them because you want to sucker people into using them under you so you can make a few pennies. This isnt' the place for it, so go away.

Not even necessarily "under him". HotForex is one of the brokerages that pays people $1 (might be more, now?) for a favourable mention in a post in a forex trading forums. There are a couple of others, too. Tickmill used to.

These people are fairly evident from their posts. Some forums tolerate it. Others don't.

Might be worth putting him on "ignore", though, if it annoys you?
  • #4,920
  • Dec 7, 2020 5:20pm Dec 7, 2020 5:20pm
Quoting stirmatt
{quote} Can you see the way you are reasoning. Have you ever seen me saying anything good or bad about any broker here except on a few occasions that I have defended FTMO since I joined? Is it a crime to ask question about slippage on FTMO challenge account that I paid for? I can't really related with uncultured person like you and this will be the last reply I will ever read from you on FF.

Your best solution would contact FTMO support directly with your concerns. Putting it out on FF is only going to stir the pot.
Trade with confidence, trade without fear.
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