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I'm done with FXDD

  • #61
  • Jan 30, 2008 1:35am Jan 30, 2008 1:35am
I,m ok with the slippage from Oanda but I don't like when I read :"what you see on the screen is what you get.... yes their spreads widen... but it's right there on the screen.."

All my trades start with -2,-3,-4,...pips and not with -0.9pips and the quotes from the screen.
This is EUR_USD
  • #62
  • Edited 2:12am Jan 30, 2008 1:53am | Edited 2:12am
Quoting haniam
I use many brokers and Oanda is one of them.

Let's be fair.

Slippage do occure at Oanda, but they do often occure in your advantage, have you noticed this?

Other brokers will requote you! Or they will close directly your order if the prices are moving in your favor.

If you don't want to allow slippage, just check the boudaries boxes in your dialogue order, as per the atachment, and you will be filled as per your request, or you will not be filled.

Attachment
Thank you but I know that.I trade with Oanda from 2004.The point is that not all accounts are the same at Oanda.Slippage do not occure for new accounts,nonscalping accounts and maybe for losers.
  • #63
  • Jan 30, 2008 8:25am Jan 30, 2008 8:25am
I started this thread by telling that I've departed FXDD. I'm probably obliged to share with whoever it might interest, where I have landed (for the meanwhile).

Very soon after I began my research, it became clear to me that my next broker should be an MT4 one, for an array of reasons: I'm too much used to MT4 and like it, I rely on a couple of custom indicators, I can't stand charting on one platform and trading on another, and in future, part of my trading, hopefully, will be done with an EA. And besides, having read all I could find about ECN's and demoing a couple, I wasn't convinced that their grass was greener (see the sticky in this forum section).

It also became clear to me that I rely most on regulation in Western Europe and the UK specifically. For example, FXPro in Cyprus look nice. Maybe this is irrational, but I somehow doubt that authorities of a country with 700,000 inhabitants can be as efficient regulators as the authorities of the World's financial capital (London).

My finalists were ODL and Alpari UK. I read too many negative opinions about the former on this and other forums, so I chose Alpari.

I'm now with them for a week. As an FXDD survivor, I now feel like I'm on a different planet. My main problem with FXDD was at news time. I don't trade news, so in principle, there is no reason for me to care about them: I believe that during news, price just does what it has to do. However, as I've described in my first post, FXDD's spread would go as wide as 20-30-80 pips during major, so I used to close my positions before releases not to have my stops hit.

Last 8 days provided ample opportunity to watch Alpari prices during major releases. Each time I'd turn on the tick window to enjoy the horror show I'm so accustomed to: the crazy spreads going wide and wild, dancing their Danse Macabre. Each time - nothing. Rien. Nada. News, no news: GPPJPY is 7 pips. USDCAD is 4. USDCHF is 4. I just can't believe it...

Why did it take me so long to leave FXDD? Good question. Maybe my ex-wife has the answer...
sans peur et sans reproche
  • #64
  • Jan 30, 2008 8:51am Jan 30, 2008 8:51am
im here to tell you if you don't trade the news, O.D.L. will treat you like a king, good spreads and pay intrest on your account.
If I Go Broke Trying Then I Will die happy.
  • #65
  • Jan 30, 2008 8:58am Jan 30, 2008 8:58am
Quoting Moe
im here to tell you if you don't trade the news, O.D.L. will treat you like a king, good spreads and pay intrest on your account.
Thanks a lot Moe, I'm aware of your high opinion of ODL and I respect it. In fact, because of it I did all the research re. this broker and it finished as my second best... Maybe in future I'll consider them again.
sans peur et sans reproche
  • #66
  • Feb 8, 2008 8:56pm Feb 8, 2008 8:56pm
Quoting Moe
im here to tell you if you don't trade the news, O.D.L. will treat you like a king, good spreads and pay intrest on your account.
They have to treat people that dont trade the news like a king. Because most of these people lose money.
  • #67
  • Feb 9, 2008 2:43am Feb 9, 2008 2:43am
Quoting PipStar
They have to treat people that dont trade the news like a king. Because most of these people lose money.
Most of the people who start trading forex (and, for that matter, stocks, commodities, pizzas, and used books) lose money. Do you mean that people who don't trade news are more prone to lose than those who do trade the news? If this is correct, I should close all my open positions the moment Sunday ends and re-consider everything I've done during the last two years. Can you please provide some statistics that would support your claim?
sans peur et sans reproche
  • #68
  • Feb 15, 2008 11:50pm Feb 15, 2008 11:50pm
I dont think anyone can provide these statistics. But one sure thing is that you need to find an edge over the broker/market to be successful. If I dont have an edge, I dont trade; although dont expect me to reveal how I do it.

On the other end, the crowd loses money because they are dealing with a counterparty (broker, banks, market makers) that holds all the aces; like seeing all their positions, stops, take profits (if it ever gets there), size of account, margin levels. On top of that these parties are well funded market movers.

So is it any surprising who wins?
  • #69
  • Feb 16, 2008 1:31am Feb 16, 2008 1:31am
Quoting PipStar
I dont think anyone can provide these statistics. But one sure thing is that you need to find an edge over the broker/market to be successful. If I dont have an edge, I dont trade; although dont expect me to reveal how I do it.

On the other end, the crowd loses money because they are dealing with a counterparty (broker, banks, market makers) that holds all the aces; like seeing all their positions, stops, take profits (if it ever gets there), size of account, margin levels. On top of that these parties are well funded market movers.

So is it any surprising who wins?
If you can't prove what you're saying, why say it? One thing is saying that one needs an edge (this is a truism), another is implying that the only edge is trading the news (this needs proof).
sans peur et sans reproche
  • #70
  • Mar 8, 2008 4:44pm Mar 8, 2008 4:44pm
I'm really impressed with the words about FXDD in this thread.
I trade with FXDD since August'07, I've never seen a spread wide up to more than 6-7 pips on GBP/USD......
  • #71
  • Mar 8, 2008 10:42pm Mar 8, 2008 10:42pm
Quoting cyberpasta
I'm really impressed with the words about FXDD in this thread.
I trade with FXDD since August'07, I've never seen a spread wide up to more than 6-7 pips on GBP/USD......
That's amazing... Have you watched the price during major news?

If so, I must have been hunted by FXDD on a personal basis... Makes me feel important...
sans peur et sans reproche
  • #72
  • Mar 8, 2008 11:40pm Mar 8, 2008 11:40pm
FXDD gets slagged all over the place. From what I can tell they are a shiny bucket shop that spends a great deal of cash on advertising everywhere. People new to forex get sucked in by a great sales pitch (Mostly half truths in my opinion) and a very user friendly, simple to use platform. I almost opened up my account with them but ended up going with Oanda last minute after doing some more reading.

FXDD has a terrible reputation. Stay away.

Cheers
  • #73
  • Mar 9, 2008 3:46am Mar 9, 2008 3:46am
Quoting ilanr
That's amazing... Have you watched the price during major news?

If so, I must have been hunted by FXDD on a personal basis... Makes me feel important...
I donīt trade the news so I've not seen the spread at all news.........I will take attempt for the next major and I will be back again.
  • #74
  • Mar 9, 2008 4:13am Mar 9, 2008 4:13am
Quoting cyberpasta
I donīt trade the news so I've not seen the spread at all news.........I will take attempt for the next major and I will be back again.
Please do.

I don't trade news either, and in my opinion, the price during news behaves in predictable ways. What is unpredictable is the crazy spread widening during news, and this sometimes kicked me out of otherwise well-calculated trades. With my present broker I feel much safer, I almost don't check the calendar any more...
sans peur et sans reproche
  • #75
  • Mar 10, 2008 7:03am Mar 10, 2008 7:03am
Quoting Wacky Canuck
FXDD gets slagged all over the place. From what I can tell they are a shiny bucket shop that spends a great deal of cash on advertising everywhere. People new to forex get sucked in by a great sales pitch (Mostly half truths in my opinion) and a very user friendly, simple to use platform. I almost opened up my account with them but ended up going with Oanda last minute after doing some more reading.

FXDD has a terrible reputation. Stay away.

Cheers
And now that they're moving to MT4, expect a lot of misdemeanour.
  • #76
  • Mar 10, 2008 8:18am Mar 10, 2008 8:18am
spreads widen and gray out during news announcements... those of you that dont understand why should try and learn more about how markets work. Also, FXDD has had an MT4 platform for about 2 to 3 yrs.
  • #77
  • Mar 11, 2008 1:35am Mar 11, 2008 1:35am
Quoting fxtrader42
spreads widen and gray out during news announcements... those of you that dont understand why should try and learn more about how markets work.
Did you try and read all of this thread to understand what I'm talking about?

Even at this wild market there are some norms. If one broker keeps the spread constant during minor news and widens it by 3-15 pips during major news, and another widens by 30 and 80, respectively, which one would you prefer?
sans peur et sans reproche
  • #78
  • Mar 11, 2008 12:03pm Mar 11, 2008 12:03pm
There is a better question to ask: why would you be in the market when a news comes out? What company have you seen widen by 80 pips? Oanda? Any others?
  • #79
  • Mar 11, 2008 12:22pm Mar 11, 2008 12:22pm
Quoting fxtrader42
There is a better question to ask: why would you be in the market when a news comes out? What company have you seen widen by 80 pips? Oanda? Any others?
Just read this thread.
sans peur et sans reproche
  • #80
  • Mar 11, 2008 12:40pm Mar 11, 2008 12:40pm
There used to be a time about 10 months ago when most brokers would not widen spreads as much as they do now. (of course we are talking about bucketshop brokers)

I think its crazy to have any pending orders withing 50 pips of the current price near news times. It sucks, but thats just the way it is right now.

The funny thing is that many times your "fake market" brokers such as FXDD will have lower spreads at news time then true pass through and ECN brokers.
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