Three brokers diffrent spike who's lying? | Forex Factory

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Three brokers diffrent spike who's lying?

  • #1
  • First Post: Nov 13, 2008 5:01pm Nov 13, 2008 5:01pm
Three well known brokers with three diffrent price's on this spike of the same time.What is your take on this?Are they cheating again?It is important to note that I did not lose any money on this but,I qm 100%sure OTHERS LOST BIG ON THIS ONE. ODL INTERBANK and FXDD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: odl.gif Size: 11 KB
Click to Enlarge Name: interbank.gif Size: 27 KB
Click to Enlarge Name: fxdd.gif Size: 29 KB
  • #2
  • Nov 13, 2008 5:33pm Nov 13, 2008 5:33pm
I've heard FXDD is not registered on the NFA or CTFA. Just a rumor, so you better verify it, personally I rather to check it out before going with any broker.
  • #3
  • Nov 13, 2008 5:44pm Nov 13, 2008 5:44pm
first of all fxdd is not a registered fcm, this is public information... check the nfa site.

second in this market with such low liquidity its possible to see a different moves at different brokers. the odl candle does look much bigger than the others but that could just be that their main liquidity provider dropped in a super low bid.

FYI remember that retail forex brokers arent the only players in this industry that play dirty!
  • #4
  • Nov 13, 2008 6:45pm Nov 13, 2008 6:45pm
Well it seems my current broker has really great spreads and liquidity. I just talked to them looking for some advice, and they let me know they are being supported by 8 different banks around the world letting them to have the lowest spreads.
  • #5
  • Nov 13, 2008 6:49pm Nov 13, 2008 6:49pm
Is that so?!?!?! Nice I would like to know which broker are you using, I'm very interested on opening an account with them.
  • #6
  • Nov 14, 2008 1:49am Nov 14, 2008 1:49am
None of them. Yesterday was nutso on the euro for a bit. When that happens it's not just a "spike" but a small spell of complete chaos. Different brokers may record different data because of it (the internet isn't perfect). If you ask them to, most of the time they'll correct any problems after things calm down.
  • #7
  • Nov 14, 2008 3:31am Nov 14, 2008 3:31am
Quoting Rabid
None of them. Yesterday was nutso on the euro for a bit. When that happens it's not just a "spike" but a small spell of complete chaos. Different brokers may record different data because of it (the internet isn't perfect). If you ask them to, most of the time they'll correct any problems after things calm down.
Exactly. Unusual market conditions. CMC shows the exact same spike as ODL. The other two you show are demo. Demo feeds tend to be less spiky anyway.
  • #8
  • Nov 14, 2008 4:49am Nov 14, 2008 4:49am
ActiveTrades (live account) did not show any spike at all.
  • #9
  • Nov 14, 2008 11:55am Nov 14, 2008 11:55am
I would check Alpari's charts. All shops you have mentioned above are not the best on the field.
  • #10
  • Nov 14, 2008 7:23pm Nov 14, 2008 7:23pm
Quoting Johnny Be Go
Is that so?!?!?! Nice I would like to know which broker are you using, I'm very interested on opening an account with them.
Hey Johnny, The broker I am currently using which is the one I was talking about with good spread is tradeview, basically when I was in the process of evaluating my options, I was able to establish a point of comparison by trading on several demo platforms (it allows you to compare the daily signals) and it finally convinced me.
  • #11
  • Nov 14, 2008 7:27pm Nov 14, 2008 7:27pm
What a coincidence huh?? jajajaja I had my account opened with that that broker, thanks to a friend who also works with them. I find them quite useful and responsible at the moment of handling your money, plus the spread is low. Thanks for the advice, anyway. Take care now.
  • #12
  • Nov 14, 2008 8:12pm Nov 14, 2008 8:12pm
I don't know if this is the same spike but this occurred on my Alpari UK demo, I had small grid of orders at the top and a 120 pip SL (red line) below- The spike precisely took out the stop ruining the demo I had been doing almost a month. You can see where it slammed the equity line.
I saved the pic, mysteriously, 3 minutes later when the new candle opened the spike has been erased like it never happened. See second pic.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: spike.gif Size: 16 KB
Click to Enlarge Name: spike3.gif Size: 16 KB
  • #13
  • Nov 15, 2008 6:13am Nov 15, 2008 6:13am
Any of you who dismiss this as...well all brokers have diffrent feed or it's just a demo are in the wrong business.These brokers have millions of dollars, which is enough to ensure the quality of the trading platform.That spike on ODL is over 100pips inaccurate,,, that is enough to do serious damage to a large account.
I have spoken to odl and they assured me demo feed matches live.They took out someone who's account is larger than all of ours put together and at this hour they cannot figure out why, but we know the truth on this forum.
Why would we even trade if there are problems like this again if amautuers can build an EA, big money brokers can keep mt4 accurate.That cost's alot when it's your hard earned. I lost nothing but I gaurantee others are hurt.They are taking advantage of inexperienced.
Silly brokers we have thier actions in screen shots on a thread form your own conclusion but from an experienced trader it is clear.
  • #14
  • Nov 15, 2008 6:35am Nov 15, 2008 6:35am
Quote
Any of you who dismiss this as...well all brokers have diffrent feed or it's just a demo are in the wrong business.These brokers have millions of dollars, which is enough to ensure the quality of the trading platform.That spike on ODL is over 100pips inaccurate,,, that is enough to do serious damage to a large account.
Laff. Could be said the same of ppl that blame the broker for every little problem.

If you find that you're knocked out of a trade because of an inaccurate 100 pip spike in the feed (probably caused by a single bad price that was caught and fixed a few minutes later) then contact your broker, the vast majority will restore your trade or fix the damage. If your broker won't, then my advice is to find a better broker. Still, if a 100 pip spike takes out your entire account then it's safe to say you're probably over-leveraged.

These kind of things happen online, the internet isn't perfect. I think you seriously underestimate the challenges of maintaining such a diverse data feed. Making it out to be a giant broker conspiracy or some kind of intentional deception isn't going to help you make the next trade. All it takes is one bad price to get into the feed, blamo.

The internet really isn't a good medium to try and scalp for a few pips. The average expectancy is just too low over time (because of hiccups like these). For that style of trading you really do need to be trading on the floor of an exchange.
  • #15
  • Nov 15, 2008 6:43am Nov 15, 2008 6:43am
There should be no "calming down" it should be accurate from the start without flaws.If you had millions in accounts at your company can you hire some one to make sure data is correct...of course you can.If there was a way for you to make 100kwould you??
Odl securities is the large spike fxdd is half spike and interbank is almost no spike, again broker integrity is something we must demand as what is on the chart is what we base our trade off of and it must be correct if it is not they should not operate.Predatory lion brokers praying on antelope traders.
This is business..there's no accepting their tricks and saying I hope it doesn't happen again.We are in the business where are roles are clear, brokers provide data and a trading vehicle...we place trades and either gain or loss.When broker breaks thier simple role we have a problem.
  • #16
  • Nov 15, 2008 6:56am Nov 15, 2008 6:56am
Also I don't think this is funny at all, I think it is a tragedy. While I try to make you understand that you shouldn't accept it when someone cheats you there's someone at home who had a 20k account and now has 3k and doesn't know why.
I am not the enemy I just caught them and you still dispute what is right in your face.Open you eyes my blind friend, my internet works fine and my platforms work fine now....but they didn't at the most convenient time as to take out stops. I watched as PRICE MOVES FASTER THAN THE EYE not even 1 second and price was back aligned.
It cost you nothing this time and forget call the broker and straighten things out..get it correct the first time.You sound like the broker with all your excuses and rhetoric.I the trader just gave you five thousand dollars don't cheat me period.
  • #17
  • Nov 15, 2008 7:14am Nov 15, 2008 7:14am
Quote
There should be no "calming down" it should be accurate from the start without flaws.If you had millions in accounts at your company can you hire some one to make sure data is correct...of course you can.

Really? So mid-sized companies should be flawless? Hehe... if only real life worked that way. Even multi-billion dollar companies have problems. Heck, kept track of Citigroup lately? LOL. Sometimes the problems scale better than the solutions, laff.

You can't hire someone to review the data as it's going in, it needs to go in real-time. The best they can do is hire someone to watch the feed as it's happening, which means a relatively quick fix after-the-fact.

Quote
Odl securities is the large spike fxdd is half spike and interbank is almost no spike, again broker integrity is something we must demand as what is on the chart is what we base our trade off of and it must be correct if it is not they should not operate.Predatory lion brokers praying on antelope traders.

ODL is relatively sloppy from what I understand. IBFX has spent a lot of time and money fixing their feed systems after some incidents earlier this year. That's where I learned the whole "if you contact them, they'll fix it" thing... I had a few trades spiked out. Still, if you looked at IBFX during the busy time you'll notice there was a spike, it just got repaired after-the-fact. So there are probably some ppl that got spiked out there as well.

Quote
This is business..there's no accepting their tricks and saying I hope it doesn't happen again.We are in the business where are roles are clear, brokers provide data and a trading vehicle...we place trades and either gain or loss.When broker breaks thier simple role we have a problem.

You have a mighty high expectation of business. Good luck there. Nothing ran by humans will ever be perfect. The best you can hope for is a good recovery.

Quote
Also I don't think this is funny at all, I think it is a tragedy. While I try to make you understand that you shouldn't accept it when someone cheats you there's someone at home who had a 20k account and now has 3k and doesn't know why.

Assuming malice where there is none. Instead of "accepting it" just call up the broker and tell them. Most of the time they'll fix it. Heck, IBFX keeps a list of documented spikes and if you call in about one of them they'll automatically restore the trade.

Quote
I am not the enemy I just caught them and you still dispute what is right in your face.Open you eyes my blind friend, my internet works fine and my platforms work fine now....but they didn't at the most convenient time as to take out stops. I watched as PRICE MOVES FASTER THAN THE EYE not even 1 second and price was back aligned.

Uhm... sigh. You know the vast majority of traders out there like to blame their broker for losses. It's a bad habit to get into. If they were able to fix the price so rapidly then that's good, they must have a way to correct some errant price data. That's really good for longer term traders that don't have a narrow stop. Extreme short term traders will always have some exposure to this risk. Welcome to life.

Quote
It cost you nothing this time and forget call the broker and straighten things out..get it correct the first time.You sound like the broker with all your excuses and rhetoric.I the trader just gave you five thousand dollars don't cheat me period.

Strangely insistent for a person that didn't lose money. Broker spikes are rarely cheating, but if you have a problem w/ a particular broker spiking you out too frequently then switch to a different broker. Get an ECN or find some place w/o a dealing desk. That's up to you, why would you stay w/ a company you didn't trust?!?

Anyway, up to you. Trade as you want, trade w/ who you want. Just be aware of all the risks.
  • #18
  • Nov 15, 2008 7:39am Nov 15, 2008 7:39am
For someone with 900+ posts your aren't really that wise.I say let us stop the robberies in one section of town you say only go outside during the day to avoid them..eventually you will be robbed too if not already.
You say it's not perfect and with outages and price feeds and it could be the bank.The broker with millions in accounts are aware of all of the prices quoted, the banks are regulated by the sec and will not compromise thier good name for some pennyany ass broker who is just one customer of many.So who will just accept things as they are......YOU....after you've been conditioned to accept all of our excuses we can tell you anything and you'll believe it even when the correct answer is right in front of your face.
I don't think you'll ever see the seriousness of this until your the victim.....why do I even give a damn it wasn't me right....words of a poor excuse of a leader.I say broker has a gun and is shooting the unsuspecting around the corner watch out.
  • #19
  • Nov 15, 2008 7:52am Nov 15, 2008 7:52am
For good reason we blame the broker, some talk and say the broker manipulates price. I provided proof of this and you make excuses for them.They already robbed the money and you say it's ok because it was only this, it was only that.Stop it I say .
We must hold these brokers who have are hard earned money to a higher standard than what is currently thier minimum.I say with out right robbery they shouldn't be doing business.Please look up "bucketshopbroker" at investopedia.
Brokers who operate with a dealing desk and who dont place traders orders into the interbank system violate rules of intergrity on so many levels and therefore have a valide reason to create artificail price spikes as to rake in more profit or limit a large players advancement.
  • #20
  • Nov 15, 2008 8:06am Nov 15, 2008 8:06am
Quoting Ritpip
Hey Johnny, The broker I am currently using which is the one I was talking about with good spread is tradeview, basically when I was in the process of evaluating my options, I was able to establish a point of comparison by trading on several demo platforms (it allows you to compare the daily signals) and it finally convinced me.

I just went to the Tradeview website as I am looking for a new broker.

I saw their spreads, and ran for my life.


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