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Broker Recommendation PLEASE!

  • #1
  • First Post: May 11, 2007 7:06am May 11, 2007 7:06am
Hi All,

I've been trying to trade the news releases recently and I have had some of the worst experience in my life! I have tried FXCM and although they advertise no dealing and no requotes they rejected all my orders! Then I tried Royalfx and they would either requote at a bad price or put me in at max deviation on my MT4 platform i.e., bad fill! I have also used CMS with varing similar results. Please recommend a Broker that will get me filled! PLEASE!

Thanks
Keith
  • #2
  • May 11, 2007 7:09am May 11, 2007 7:09am
MIG is really good for me.

1. SPREAD VERY NICE.
2. FAST EXCECUTION.
3. AND BULLIONS TRADE.

IBFX is good too, but some pairs has big spread and the server sometimes is down

Quoting its2die4
Hi All,

I've been trying to trade the news releases recently and I have had some of the worst experience in my life! I have tried FXCM and although they advertise no dealing and no requotes they rejected all my orders! Then I tried Royalfx and they would either requote at a bad price or put me in at max deviation on my MT4 platform i.e., bad fill! I have also used CMS with varing similar results. Please recommend a Broker that will get me filled! PLEASE!

Thanks
Keith
  • #3
  • May 11, 2007 7:15am May 11, 2007 7:15am
Problems with fill? Give the market a few minutes after the news to stabilize and obtain a direction then try trading..
  • #4
  • May 11, 2007 7:18am May 11, 2007 7:18am
the system I am using requires that I enter IMMEDIATELY so your suggestion although a good one would not work with this method I'm using now (Dustin Pass's trading room with his RSS software)

Thanks,
Keith
Quoting tcp
Problems with fill? Give the market a few minutes after the news to stabilize and obtain a direction then try trading..
  • #5
  • May 11, 2007 7:21am May 11, 2007 7:21am
Hello pablorpl ..

Don't say that Man ; dont say MIG is a good broker ... NO WAY .. I'm suffering with them ..
ANYONE BUT NOT MIG .

hey its2die4 , try EFX's demo & watch their online webinars Then decide .

Good luck .

Salam .
  • #6
  • May 11, 2007 7:27am May 11, 2007 7:27am
Ok Thanks Salam will do........ How about AC Markets? Anyone familiar with them? they advertise no requotes guaruntee on their site where as no one else does.


Quoting coolhell
Hello pablorpl ..

Don't say that Man ; dont say MIG is a good broker ... NO WAY .. I'm suffering with them ..
ANYONE BUT NOT MIG .

hey its2die4 , try EFX's demo & watch their online webinars Then decide .

Good luck .

Salam .
  • #7
  • May 11, 2007 7:51am May 11, 2007 7:51am
Quoting its2die4
Hi All,

I've been trying to trade the news releases recently and I have had some of the worst experience in my life! I have tried FXCM and although they advertise no dealing and no requotes they rejected all my orders! Then I tried Royalfx and they would either requote at a bad price or put me in at max deviation on my MT4 platform i.e., bad fill! I have also used CMS with varing similar results. Please recommend a Broker that will get me filled! PLEASE!

Thanks
Keith
if your looking for stable platform during news and no spreads widen with good execution during news then try fxsol.com, i had a lot of success with them,
If I Go Broke Trying Then I Will die happy.
  • #8
  • May 11, 2007 11:28am May 11, 2007 11:28am
Quoting its2die4
the system I am using requires that I enter IMMEDIATELY so your suggestion although a good one would not work with this method I'm using now (Dustin Pass's trading room with his RSS software)

Thanks,
Keith

therein lies your problem. I give these autoclick ppl another few months before they shut up shop. Of course there will be those that will stick with them and give back all the profits they've gained so far but the smart ones will realise that it's almost game over. In fact the only smart ppl are those charging the monthly fee for the service, there's no downside for them
  • #9
  • May 11, 2007 12:19pm May 11, 2007 12:19pm
Quoting Moe
if your looking for stable platform during news and no spreads widen with good execution during news then try fxsol.com, i had a lot of success with them,
moe, hows odl on mt4 compared to fxsol during news time?

thanks
westie
  • #10
  • May 11, 2007 12:29pm May 11, 2007 12:29pm
Quoting Westie
moe, hows odl on mt4 compared to fxsol during news time?

thanks
westie
execution is a little better at fxsol
If I Go Broke Trying Then I Will die happy.
  • #11
  • May 11, 2007 1:32pm May 11, 2007 1:32pm
Quoting its2die4
What are some of the other Auto-Click Subscriber based systems out there anyway besides Dustin Pass' forexmastermaker?

Hey Mo, are you subscribed to any of the auto-click signalers?

thanks!
no i don't mess with auto-click, don't know of any
If I Go Broke Trying Then I Will die happy.
  • #12
  • May 11, 2007 1:35pm May 11, 2007 1:35pm
I use fxsol as well... haven't had any issues with them either.
  • #13
  • May 12, 2007 4:28am May 12, 2007 4:28am
Quoting its2die4
Hi All,

I've been trying to trade the news releases recently and I have had some of the worst experience in my life! I have tried FXCM and although they advertise no dealing and no requotes they rejected all my orders! Then I tried Royalfx and they would either requote at a bad price or put me in at max deviation on my MT4 platform i.e., bad fill! I have also used CMS with varing similar results. Please recommend a Broker that will get me filled! PLEASE!

Thanks
Keith
I would try an ECN if I were you. In this way, at least you don't have to worry about the broker trying to fleece you.
  • #14
  • May 12, 2007 7:26am May 12, 2007 7:26am
I've tested and evaluated all three. One of the big problems with all of them is that quite frequently, the news will come in just late enough to catch you entering at the top of the spike. After 4 months testing on numerous brokers and several auto-click brokers, I'm re-focusing on my normal technical analysis trades as I don't see the auto-click business lasting for any amount of time.

Quoting its2die4
What are some of the other Auto-Click Subscriber based systems out there anyway besides Dustin Pass' forexmastermaker?

Hey Mo, are you subscribed to any of the auto-click signalers?

thanks!
  • #15
  • May 12, 2007 7:26am May 12, 2007 7:26am
Hi Castlemain,
Thanks, but unfortunately I have no idea what an ECN is?

Keith
Quoting Castlemain
I would try an ECN if I were you. In this way, at least you don't have to worry about the broker trying to fleece you.
  • #16
  • May 12, 2007 7:31am May 12, 2007 7:31am
Ha! This is funny. Take a look at the thread "250 pips slippage on currenex"! There are "predatory" traders out there who take advantage of auto-click news traders. Here's how it works. On ECN or similar platforms, these systems have order matching capabilities. Let's say that market price is trading at 3200 just prior to news. Well, what happens is someone might place a sell limit at 3400 and buy limit at 3000. When the news comes out, there might be 50 contracts available around the market price. If you are contract number 51, guess what happens? That's right, the system matches you up with that completely off-quotes limit order 200 pips away from the market.

With the popularity of the auto-click programs, I'm thinking that this will become a more popular strategy on platforms like currenex.

Quoting Castlemain
I would try an ECN if I were you. In this way, at least you don't have to worry about the broker trying to fleece you.
  • #17
  • Edited 3:52pm May 12, 2007 11:23am | Edited 3:52pm
Quoting stockwet
Ha! This is funny. Take a look at the thread "250 pips slippage on currenex"! There are "predatory" traders out there who take advantage of auto-click news traders.
I have done heard it all now, but lets get the story straight.

1) I trade off support and resistance
2) All my orders are placed the same time everyday

Out of the the 15pairs I trade the EURCAD by far has the least liquidity. If I was truly trying to take advantage of the auto-click trust me I would have had on an order for 100mil lots and not 8. What so dam funny is for the most part Currenex and Hotspotfxi clearly show you the liquidity going threw and you can watch right before the news how it drops off more so on hotspotfxi. So the fact that anyone would be trying to put threw an order when they also know maybe a few 100 other are trying to do the same thing on the same pair at the time just doesn't seem like smart trading if you ask me, but then who am I to judge.

The fact is I must have over 100 post about trying to trade on the spike and risk involved with or with out an auto-click before I ever got an off market fill. I even received a cease and desist order from Knight Capital "hotspotfxi" for placing a video on youtube showing the liquidity falling right before the release of CPI report.

What I find most interesting is how everyone wants to bring up the time someone had to eat their risk but I haven't read one thread (and maybe i missed it) about the few dozen times the broker covered the auto-clicker ass and busted the trade. Which let me tell you has pissed off a few banks cause every trade has two sides.

Nothing personal its2die4 but how many threads are you going start on the same subject this is at least the 2nd one I know of.

stockwet since the start of the 250.. thread I will guarantee you your so called "predatory" traders are definitely out there now... LOL
  • #18
  • May 13, 2007 6:14am May 13, 2007 6:14am
Quoting its2die4
Hi Castlemain,
Thanks, but unfortunately I have no idea what an ECN is?

Keith
An ECN is a broker that matches your trade with another trader taking the opposite side, i.e. you are trading in the real market and not against a broker who is the buyer/seller of last resort.
  • #19
  • May 13, 2007 6:17am May 13, 2007 6:17am
Quoting stockwet
Ha! This is funny. Take a look at the thread "250 pips slippage on currenex"! There are "predatory" traders out there who take advantage of auto-click news traders. Here's how it works. On ECN or similar platforms, these systems have order matching capabilities. Let's say that market price is trading at 3200 just prior to news. Well, what happens is someone might place a sell limit at 3400 and buy limit at 3000. When the news comes out, there might be 50 contracts available around the market price. If you are contract number 51, guess what happens? That's right, the system matches you up with that completely off-quotes limit order 200 pips away from the market.

With the popularity of the auto-click programs, I'm thinking that this will become a more popular strategy on platforms like currenex.
On the EFX platform (ECN broker), enter your trade at market using a "soft limit", rather like the "bounds" on the OANDA platform. This guarantees that you won't get filled above the limit price if you are going long, or below the limit price if you are going short.

Makes sense to protect yourself.
  • #20
  • May 13, 2007 8:08am May 13, 2007 8:08am
There is a big deal being made out of trading with an ECN broker in almost every forum and it's seen as the next step up. I have looked into it and found it to be nothing of the kind. The kind of slippage you get with an ECN at times of volatility, you will not see with a retail broker. Why bother just to be able to trade inside the spread and get a tighter spread which you then give back several times over at news time. Hasn't the 250 pips slippage with ODL currenex now become legendary?
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