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  • #41
  • Feb 25, 2008 5:38pm Feb 25, 2008 5:38pm
This morning at around 1am PST spreads came to as low as 2 for most pairs(gbp/jpy, aud/jpy included) . I thought multi bank feed pricing is kicking in, but it only lasted for 10 mintues

This might have been a glitch in their system showing price feeds as they get them without modifying and it looked nice
  • #42
  • Feb 25, 2008 5:49pm Feb 25, 2008 5:49pm
Quoting flavor
This morning at around 1am PST spreads came to as low as 2 for most pairs(gbp/jpy, aud/jpy included) . I thought multi bank feed pricing is kicking in, but it only lasted for 10 mintues

This might have been a glitch in their system showing price feeds as they get them without modifying and it looked nice
Actually I wrote a little indicator that keeps track of the largest and the smallest spread on a currency until the indicator is reset by the operator.

Several of the pairs got down to Zero pips at 08:58:02
  • #43
  • Edited 6:05pm Feb 25, 2008 6:02pm | Edited 6:05pm
Quoting forexmoments
I have a couple of live accounts over at IBFX. I'm not saying that I don't trade with them, but what I'm saying is they have problems which need to be addressed.

Now look at this "multi bank feed" crap they've come out with. Oh, and we still get a 2 pip Euro? Bollocks.
Maybe I am just lucky. I get a 2 pip spread most of the time on EURUSD. The main problem I've seen would be what FrankTheTank said 'Anyone else notice orders at news time get "Invalid Price" or "Off Quotes" errors now?' This may be how they are countering what Scott said a couple of posts back. "One can really pick them off, if they are going to export prices this way."
  • #44
  • Feb 25, 2008 6:10pm Feb 25, 2008 6:10pm
Quoting nvwine
Maybe I am just lucky. I get a 2 pip spread most of the time on EURUSD. The main problem I've seen would be what FrankTheTank said 'Anyone else notice orders at news time get "Invalid Price" or "Off Quotes" errors now?' This may be how they are countering what Scott said a couple of posts back. "One can really pick them off, if they are going to export prices this way."
Yes, this is a common practice of a market maker. The reason is that they are taking the trade whether the real price traded there or not. So as a counter measure, they will at times not take any trades at all until they can figure out what the price should be. If you think about it, it makes perfect sense. The computer models they have would probably have a very difficult time trying create an accurate price when several of their feed are all over the map in price do to liquidity drying up at news time, or anyother time where their feeds are not close together.
  • #45
  • Feb 25, 2008 6:38pm Feb 25, 2008 6:38pm
bottom line is they get 0-3 pips on the major from there banks then thay add there mark-up / pips to the spreads this is how they make most of there money, this doesnt mean that there not giving us s.t.p.
If I Go Broke Trying Then I Will die happy.
  • #46
  • Feb 25, 2008 6:41pm Feb 25, 2008 6:41pm
Quoting Moe
bottom line is they get 0-3 pips on the major from there banks then thay add there mark-up / pips to the spreads this is how they make most of there money, this doesnt mean that there not giving us s.t.p.
Yes I agree with that. Also by the very nature that they are a market maker, they are taking the other side of the trade unless the deem the risk too high.

The other really big advantage they have is they can see their orderflow and know where all their clients orders, stops and TPs are. I think this is a significant revenue stream for them, if you know what I mean... LOL

But when you think about it, there is no central exchange, so there really is no fair price for spot FX... I think as long as we accept these things, there are still profitable ways to trade and certainly if you know your broker trades against you, (as it should be) one can play the game with that in mind.
  • #47
  • Feb 25, 2008 7:05pm Feb 25, 2008 7:05pm
Quoting smjones
Yes I agree with that. Also by the very nature that they are a market maker, they are taking the other side of the trade unless the deem the risk too high.

The other really big advantage they have is they can see their orderflow and know where all their clients orders, stops and TPs are. I think this is a significant revenue stream for them, if you know what I mean... LOL

But when you think about it, there is no central exchange, so there really is no fair price for spot FX... I think as long as we accept these things, there are still profitable ways to trade and certainly if you know your broker trades against you, (as it should be) one can play the game with that in mind.
i agree, did you know that 99% of t/p orders goes pass most traders t/p, this is another way they make there money, for example, lets say you went long 100k at 1.9500 with t/p at 1.9550, they will execute your t/p at 1.9550 while at the same time the price blew pass your t/p and went to 1.9555 this is where they execute your t/p with one of there banks and keep the diffrence, so at $10 on 100k order they pay you your $500 on your t/p and and keep the difrence at where they execute that same order at 1.9555. so not only do they get the spread they also get some on the back end and also they might also be getting a kick back from there banks for the volume.
If I Go Broke Trying Then I Will die happy.
  • #48
  • Edited 11:41pm Feb 25, 2008 9:55pm | Edited 11:41pm
Quoting smjones
Actually I wrote a little indicator that keeps track of the largest and the smallest spread on a currency until the indicator is reset by the operator.

Several of the pairs got down to Zero pips at 08:58:02
Yes it is possible, I was just looking at yen pairs and mostly they were 2-3.
So I guess floating prices are possible on MT4
  • #49
  • Feb 26, 2008 2:22am Feb 26, 2008 2:22am
Quoting smjones
Several of the pairs got down to Zero pips at 08:58:02
Surely has to be a first lol!
  • #50
  • Feb 26, 2008 5:24am Feb 26, 2008 5:24am
While we are talking about IBFX, don't rely on the demo to test your strategy that would later applied on the live account. The price action is often asynchronized and may differ 10-20 pips or more ...

Left panel is the live feed taken 2 weeks ago.

Attached Image
  • #51
  • Feb 26, 2008 5:27am Feb 26, 2008 5:27am
Quoting forexmoments
Surely has to be a first lol!
Could be. here is a couple of indicators to test with. the first one writes to a file, the second writes on the screen
Attached File(s)
File Type: mq4 SpreadCheck.mq4   2 KB | 381 downloads
File Type: mq4 Spread Largest.mq4   2 KB | 383 downloads
  • #52
  • Mar 15, 2008 3:06pm Mar 15, 2008 3:06pm
Quoting Marilyn
Well.. Let's see what we can do about that.. we are actively working to make sure that issue is eliminated in the v. near future.. and we didn't even see it on the last Non-Farm.. this multi bank system has been running live since Nov(ish).. just not announced so we could work the kinks out..

I agree.. be aware.. but don't freak.

BTW - how are ya Frank! it is nice to be lurking around on forums again.. I miss the interaction..
Marilyn you told that this execution model running from November. But I (We) can't trade news from Tod Crosland announcement about this model (9.2.08). Spread is more widen than before but there are next new problems. I trade spike at news time but I still got "Off quotes" error, so it means that order is immediately rejected by server, when is accepted and price is outside of allowed slippage we got a "Requote" error. From 9.2.08 I never got Requote error each trade is reject by "Off quotes" error (I trade with 5 standard lot)

Next problem is that we can't check your prices, I have ea which is for logging each ticks. So I can measure your spread widen and so on. But orders are executed at price which never been in platform (aren't logged by EA). For example orders on JPY pairs was executed with prices which had three decimal places (platform is quoted on two decimal places) or on others symbols had 5 decimal places instead 4.

For others traders: in attachement file you can find measuring of spread at news time on IBFX live account (for March news)

At this time I stopped my trading on IBFX accounts because their execution model isn't good.
Attached File(s)
File Type: zip ibfx-news-time-spreads.zip   102 KB | 311 downloads
  • #53
  • Mar 15, 2008 5:16pm Mar 15, 2008 5:16pm
I'm considering opening an account with IBFX. To those that have a standard account with them, I understand you can trade from .01 -> 100 lots with a standard account? (i.e one micro -> 100 standard) Is this correct? Thankyou
  • #54
  • Mar 15, 2008 7:00pm Mar 15, 2008 7:00pm
Quoting Nerva
I'm considering opening an account with IBFX. To those that have a standard account with them, I understand you can trade from .01 -> 100 lots with a standard account? (i.e one micro -> 100 standard) Is this correct? Thankyou
yes, correct.
  • #55
  • Mar 15, 2008 7:35pm Mar 15, 2008 7:35pm
I still don't understand why people trade with these guys. Oanda is the best retail FX broker in the business... the best overall brokers are InteractiveBrokers and EFX...
Mr. Trend
  • #56
  • Mar 15, 2008 7:56pm Mar 15, 2008 7:56pm
Quote
I still don't understand why people trade with these guys. Oanda is the best retail FX broker in the business... the best overall brokers are InteractiveBrokers and EFX...

They are good, but they don't offer the kind of automation that MT4 brings... which comes in handy, a lot.
  • #57
  • Mar 15, 2008 8:27pm Mar 15, 2008 8:27pm
Quoting Rabid
They are good, but they don't offer the kind of automation that MT4 brings... which comes in handy, a lot.
Exactly. I have an account with Oanda (up 10% my first 9 months of trading), yes they are the best all-round retail broker. But I'm going to go to grad school & internship so I don't have the time (nor really the patience) to sit and watch charts all day. I'm going to run my own EA I developed in combination with PipBoxer EAs and trade price action off of weekly charts.
  • #58
  • Mar 20, 2008 4:12pm Mar 20, 2008 4:12pm
Hi, all. As to regards to stop hunting, I am not sure why people are so targeted on that. If stop hunting occurs, any seasoned trader knows that is part of the game of Forex and once you know the rules you also will then learn how to win in this game. Any person who decides to enter into the Forex and become a trader needs to pay their pound of flesh as I have, and then you will start to win. So dont be upset if brokers hunt stops, its just part of the game. Protect yourself!
  • #59
  • Mar 27, 2008 7:02pm Mar 27, 2008 7:02pm
Interbank FX (IBFX.com) Adds Lehman Brothers to its Multiple Bank Liquidity Pool
Carpe Divitiae
  • #60
  • Mar 27, 2008 9:09pm Mar 27, 2008 9:09pm
LOL, I just noticed the same thing. Wahoo! Isn't Lehman on the brink of disaster anyway? They may as well have added BSC.
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