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Broker with low slippage

  • #1
  • First Post: Nov 12, 2015 6:02am Nov 12, 2015 6:02am
Hello,

I recently had an experience with FXCM where I had nearly 80 pips in slippage on 3 different positions. I think that's rather high especially on the EURUSD pair. Im looking for a broker that has lower slippage than that. I know what slippage is and when I contact brokers about their slippage, they simply define slippage. Its kind of frustrating. Can anyone tell me from experience brokers that have low slippage? Im in the US so the broker must accept US clients.

Thanks!
  • #2
  • Nov 14, 2015 12:57pm Nov 14, 2015 12:57pm
To be honest if you are okay with slippage then it's a big mistake you are making.... It's not good at all and you should expect a broker that never has slippage problem, so i will suggest you to seek for brokers offering cTrader as there is where no slippage happens.
  • #3
  • Nov 14, 2015 4:33pm Nov 14, 2015 4:33pm
Quoting Fedricks
To be honest if you are okay with slippage then it's a big mistake you are making.... It's not good at all and you should expect a broker that never has slippage problem, so i will suggest you to seek for brokers offering cTrader as there is where no slippage happens.
I used ctrader for a long time .
ctrader happen slippage. negative and positive both
  • #4
  • Nov 16, 2015 2:03am Nov 16, 2015 2:03am
I think slippage as well as market execution are the integral parts of trading in an ECN/STP environment... but of course 80 pips is too much.
  • #5
  • Nov 16, 2015 6:19am Nov 16, 2015 6:19am
Does anyone know of any places to trade with low slippage?

I have been looking at the following places (US brokers):

MB Trading (Now tradeking)
Interactive Brokers

Any suggestions would be helpful. I currently use FXCM
  • #6
  • Nov 16, 2015 9:15am Nov 16, 2015 9:15am
I have had good experience XGLOBAL and ACTITRADES , off them XGLOBAL being slightly better . If you are from the US , i don't know whether they will accept you.

Good
luck .
  • #7
  • Nov 16, 2015 10:18am Nov 16, 2015 10:18am
Quoting zachster104
Does anyone know of any places to trade with low slippage? I have been looking at the following places (US brokers): MB Trading (Now tradeking) Interactive Brokers Any suggestions would be helpful. I currently use FXCM
Your broker suggestions are very good but is there any way to avoid slippage or we face it at every brokers?
  • #8
  • Nov 16, 2015 12:31pm Nov 16, 2015 12:31pm
Quoting barret
{quote} Your broker suggestions are very good but is there any way to avoid slippage or we face it at every brokers?
Hi Barret,

It's important to note that slippage can be either positive or negative. Positive slippage is when your order is filled at a better price. Negative slippage is when your order is filled at a worse price. Due to the momentum of price movement when such order types are triggered, positive slippage is more common with limit orders, while negative slippage is more common with stop orders.

FXCM's Trading Station platform allows you to specify how much negative slippage you are willing to tolerate on an order, while still getting the full benefits of any positive slippage that's available. You can even set your slippage tolerance to zero pips, if you want no negative slippage whatsoever. That's why FXCM clients receive more positive slippage than negative slippage overall: http://bit.ly/1KWaV8g

In the example below, I am creating a market order to buy 100K EUR/USD at 1.0677[4] with a Market Range of 2.0 pips. That means the most slippage I'm willing to accept is 2.0 pips. My market order could be filled at 1.0679[4] (up to 2.0 pips above 1.0677[4]) but no higher than that.

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In the example below, I am creating a stop order to sell 100K EUR/USD at 1.0577[4] with a Range Entry of 8.0 pips. That means the most slippage I'm willing to accept is 8.0 pips. My stop order could be filled at 1.0569[4] (up to 8.0 pips below 1.0577[4]) but no lower than that.

Attached Image
  • #9
  • Nov 16, 2015 1:03pm Nov 16, 2015 1:03pm
Quoting zachster104
Hello, I recently had an experience with FXCM where I had nearly 80 pips in slippage on 3 different positions. I think that's rather high especially on the EURUSD pair. Im looking for a broker that has lower slippage than that. I know what slippage is and when I contact brokers about their slippage, they simply define slippage. Its kind of frustrating. Can anyone tell me from experience brokers that have low slippage? Im in the US so the broker must accept US clients. Thanks!
At FXCM, we take great pride in the quality of our trade execution. Stats tracking over 40 million orders executed on through our platforms over a 12-month period show that FXCM clients receive positive slippage more than negative slippage overall as mentioned in my previous post. In that post, I also highlighted features on our Trading Station platform like Market Range and Range Entry, which allow you to limit your negative slippage.

You mentioned that you received nearly 80 pips of slippage on 3 different EUR/USD positions with us. It's unclear whether that's 80 pips in total, or 80 pips each, but either way, more context is needed to determine whether such an amount of slippage was high given the market conditions at the time.

Quoting Fedricks
To be honest if you are okay with slippage then it's a big mistake you are making.... It's not good at all and you should expect a broker that never has slippage problem, so i will suggest you to seek for brokers offering cTrader as there is where no slippage happens.
Quoting entheos
{quote} I used ctrader for a long time . ctrader happen slippage. negative and positive both
Quoting jason1979
I think slippage as well as market execution are the integral parts of trading in an ECN/STP environment... but of course 80 pips is too much.

If the market gapped 80 pips due to a major news event then such a level of slippage is to be expected and is not a negative reflection on our execution.

When did this slippage occur exactly, Zachster?
  • #10
  • Nov 29, 2015 7:11am Nov 29, 2015 7:11am
Quoting Jason Rogers
{quote} Hi Barret, It's important to note that slippage can be either positive or negative. Positive slippage is when your order is filled at a better price. Negative slippage is when your order is filled at a worse price. Due to the momentum of price movement when such order types are triggered, positive slippage is more common with limit orders, while negative slippage is more common with stop orders. FXCM's Trading Station platform allows you to specify how much negative slippage you are willing to tolerate on an order, while still getting the...
I think the stop order you created is great and all but if it cannot be filled in your "range" then the trade and your money go bye bye. The fact the 80 pips is acceptable at any point in the market is unacceptable. It was 80 pips per trade. Baring a SNB catastrophe there should never be 80 pips of slippage. The was during the NFP. I dont need you to teach me what slippage is or tell me what the NFP is and why its volatile. We all know this. I've been with FXCM for a very very long time and slippage has been the only problem I have ever encountered. You have great trading tools and support staff. Your education providers are top notch. It just seems your fill rate is not as good as others. Maybe Im wrong in saying that but in having other brokers alongside yours, I usually get the big slippage problems with yours. With that being said everything else I mentioned is the best in the biz. Trying to be honest with you so you know where Im coming from.
  • #11
  • Dec 3, 2015 4:56pm Dec 3, 2015 4:56pm
Quoting zachster104
{quote} I think the stop order you created is great and all but if it cannot be filled in your "range" then the trade and your money go bye bye. The fact the 80 pips is acceptable at any point in the market is unacceptable. It was 80 pips per trade. Baring a SNB catastrophe there should never be 80 pips of slippage. The was during the NFP. I dont need you to teach me what slippage is or tell me what the NFP is and why its volatile. We all know this. I've been with FXCM for a very very long time and slippage has been the only problem I have ever...
Hi Zachster,

I'm glad you're pleased with our service overall.

As I mentioned in my previous post, slippage with FXCM can be either positive or negative and more context is needed to determine whether such an amount of slippage was high given the market conditions at the time. Now you have confirmed that these trades were during NFP. While the market won't always gap 80 pips during NFP, the risk is certainly greater during such a news events.

What was the exact NFP date when these trades occurred? We can go over what happened on the EUR/USD chart together.
  • #12
  • Dec 10, 2015 1:33pm Dec 10, 2015 1:33pm
Quoting entheos
{quote} I used ctrader for a long time . ctrader happen slippage. negative and positive both
That’s really strange because so far from what I know cTrader rarely have this issue. By the way, I want to know which broker you used it with? I am using it with Octafx and I am also using their ECN account with cTrader platform and so far I don’t get any slippage, but honestly I never got it even prior to using cTrader. I can’t say much about news because apart from NFP, I don’t trade much else in terms of news, but in normal situation, I don’t get it.
  • #13
  • Dec 9, 2020 4:54am Dec 9, 2020 4:54am
Quoting GANESH
I have had good experience XGLOBAL and ACTITRADES , off them XGLOBAL being slightly better . If you are from the US , i don't know whether they will accept you. Good luck .
I see some reference to xglobalmarkets being an stp broker but on the website it says ecn. Is xglobalmarkets a true stp broker?
  • #14
  • Dec 16, 2020 5:36am Dec 16, 2020 5:36am
I know broker with low slippage like icmarkets.com. but, slippage will also depend on liquidity at that time. And admiralmarkets.com is also very good and they have FCA regulations and the spreads are not too high.
  • #15
  • Last Post: Dec 19, 2020 12:10am Dec 19, 2020 12:10am
Turnkey forex is also good option. Haven’t faced any slippage issues, trading conditions are good. And yes they accept US clients.
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