Which brokers guarantees stops during news | Forex Factory

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Which brokers guarantees stops during news

  • #1
  • First Post: Jan 27, 2009 3:57pm Jan 27, 2009 3:57pm
Hi, I'm new and this is my first post.

The thing I wanted to know but couldn't find on the forum here is the name of some brokers that would guarantee stops during FAs.

Or at least know which brokers I cannot trust in this.

I am using FXDD. Has anyone had problems with them?

Thanks!
  • #2
  • Jan 27, 2009 9:26pm Jan 27, 2009 9:26pm
Hey mate,

No advice as far as FXDD goes... however i will say that my mate has been having TERRIBLE fills from FxPro lately. He got slipped 40 points on a buy stop he had on an inside bar last night... on the EURUSD! 40 pips!!! This isnt over news, either.

He isnt even trading big lot sizes (sub 50k a pop) and he is getting requotes left right and centre... order processing taking several seconds every time you hit a price. Then requote, requote and so on. Rubbish.

Also, their platform (data feed) is up and down like a f*^#ing yo-yo. Not reliable at all.

Makes me angry when a broker takes the piss like that. If you cant make a market that can be dealt on, dont go around showboating about having the best bloody spreads! Its bullshit. I would ratehr a 2 pip spread and know im gonna get a fill where ive hit it. It isnt hard. Especially when the CLAIM to have several major liquidity providers. I deal with individual liquidity providers (banks) all day and get dealt where i hit it EVERY time - down to 1/10th of a pip.

My 2 cents. Im going to be trading elsewhere going forward.

Regards,
MM
"If it bleeds ... we can kill it"
  • #3
  • Jan 28, 2009 7:31am Jan 28, 2009 7:31am
Ari Gold, where do you trade?

My brother has been complaining about FxPro just yesterday. That they canceled some of his orders while he was away or something like that. I don't think he was trading on the news.

I was on my 100 dollar for free account on FXDD, trying the news yesterday. So I was with 30 USD left on that account and making around 7-10 dollars profit on the trades.

One trade of mine had already been canceled, but ok, I managed to open another one. I was trading on 3 separate pairs of the main currency during this FA wave.

Then my computer restarted because I was trying to use the webcam on MSN with my girlfriend, while I traded. When I came back to MT4 most of my trades were canceled, and only the least proffitable and volatile pair still had it's order going. I thought "lol these guys are like the mob or something" and just laughed it off. After all they gave me the 100 usd.

I will continue to trade news and take note of my sucesses and all on a logbook. I had read about brokers doing this, but its the first time I experience it first hand. I don't know if there is one that is 100% honest, but if anyone knows of one then please let me know on this post or send me a PM so that it doesn't look like advertising or anything.

Do demo accounts suffer the same type of slippage as live accounts? I don't want to rist money when i'm checking if I can trust a broker or not. I mean, when I go try the ones who guarantee stops during volatile times.

Thanks,
Scalpaholic
  • #4
  • Jan 28, 2009 8:25am Jan 28, 2009 8:25am
Quoting Scalpaholic
Hi, I'm new and this is my first post.

The thing I wanted to know but couldn't find on the forum here is the name of some brokers that would guarantee stops during FAs.

Or at least know which brokers I cannot trust in this.

I am using FXDD. Has anyone had problems with them?

Thanks!
FxClub don't have any slippage on news.
  • #5
  • Jan 28, 2009 7:01pm Jan 28, 2009 7:01pm
I have traded my personal account with Oanda and FxPro... i havnt had much troubles with FxPro, but i havnt been executing with them for a little while. I dont intend on using them again either.

Demo accounts dont have the same slippage, as your trade doesnt get routed back through to the broker. It just executes on the price on your demo. Once i dealt on a price 30 pips from the market on demo - when my live account wouldn't hit it. (bad feed... again). So you see... demo and real accounts are completely different when it comes to execution.

MM

Quoting Scalpaholic
Ari Gold, where do you trade?

My brother has been complaining about FxPro just yesterday. That they canceled some of his orders while he was away or something like that. I don't think he was trading on the news.

I was on my 100 dollar for free account on FXDD, trying the news yesterday. So I was with 30 USD left on that account and making around 7-10 dollars profit on the trades.

One trade of mine had already been canceled, but ok, I managed to open another one. I was trading on 3 separate pairs of the main currency during this FA wave.

Then...
"If it bleeds ... we can kill it"
  • #6
  • Jan 29, 2009 1:50am Jan 29, 2009 1:50am
Quoting lavatrader
FxClub don't have any slippage on news.
No one guarantees stops during during news!

Regarding FXCLUB, please check this link:
http://www.fxclub.com/expressfx/

and go to Take Profit and Stop Loss:
Market prices move almost every moment, but this does not mean that you have to keep an eye on your positions every second. You can set a Take Profit order, which is a command to the dealing desk to automatically close your position when your profits reach a certain level. You can also set a Stop Loss order, which is a command to the dealing desk to close your position when your losses reach a certain level (except for extraordinary market conditions). It is a good idea to set both of these orders simultaneously to establish a price range of how much you are willing to make and how much you are ready to risk.
  • #7
  • Jan 29, 2009 8:17am Jan 29, 2009 8:17am
Quoting AKforex
No one guarantees stops during during news!

Regarding FXCLUB, please check this link:
http://www.fxclub.com/expressfx/

and go to Take Profit and Stop Loss:
Market prices move almost every moment, but this does not mean that you have to keep an eye on your positions every second. You can set a Take Profit order, which is a command to the dealing desk to automatically close your position when your profits reach a certain level. [b]You can also set a Stop Loss order, which is a command to the dealing desk to close your...
Hi Pal,
Read this please http://www.fxclub.com/no-slippage/

Quote
In fact, slippage could be so common on Forex, especially during the fast markets, that the National Futures Association explicitly asks its regulated brokers to state that "No slippage policy applies for normal market conditions only." So we state it as well, but we do want to mention that our execution policy is rock-solid. We cannot guarantee that our rock-solid policy will persist during extraordinary events such as wars, terrorist attacks, natural catastrophes, but we want to point out that we do adhere to the order execution policy religiously.
There is nothing about news releases. They really do not have any slippage on news.

Try it!
  • #8
  • Feb 1, 2009 4:26pm Feb 1, 2009 4:26pm
Hey,

I went to check FX Club's web site. They say they guarantee but they never put news or fundamental announcements in the same sentence.

I read in a book from Robert Borowsky - Forex Sailing, available on a web site of his for free, that ACM guaranteed stops during news even during news. However I couldn't find it on their website, just a timeline saying they were the firest broker to guarantee stops or something.

I'll get into these people's live chat and ask if they guarantee stops during news, and if they have it on their contracts and stuff. Then I'll come and post the responses here. I'll do this on FXDD where I have an account, on FX Club and on ACM.

Good trades,
Scalpaholic
  • #9
  • Feb 1, 2009 5:25pm Feb 1, 2009 5:25pm
Ari Gold: RE: Post #2 above: Just want to be sure it is 40 somethings - FxPro is now 5 digits so I ask - wasn't that really 40 TENTHS of a pip - or 4.0 pips? I get good fills with them. The new decimalization is a killer. Please verify and get back. Thanks. Ken.
  • #10
  • Feb 1, 2009 8:12pm Feb 1, 2009 8:12pm
In my 3 years of forex experience with various brokers from USA to Russia, to Cyprus to Belize, most retail brokers (even when they advertised they honor stops during news), will soon revoke that guarantee when you start making money.

If they still "honor" those stops, they might not honor withdrawal however.

Also, Brokers that claim to not charge "swap" will soon charge you "holding fees" if you have "negative swap positions' held for more than 2 days (marketiva for instance).

Lastly, Brokers will also change their swap rates to benefit them. During the Carry Trade era (2006 Q3~2008 Q2), one broker decreased their NZDJPY swap by as much as 50%...

Forex Brokers will change their policies as they see fit for their own benefit.
  • #11
  • Feb 2, 2009 4:33am Feb 2, 2009 4:33am
IG has GSL but u will be charged extra spread , also they honor normal stops but for more secure trading u can use their GSL orders ...
  • #12
  • Feb 2, 2009 6:36am Feb 2, 2009 6:36am
Quoting Scalpaholic
Hi, I'm new and this is my first post.

The thing I wanted to know but couldn't find on the forum here is the name of some brokers that would guarantee stops during FAs.

Or at least know which brokers I cannot trust in this.

I am using FXDD. Has anyone had problems with them?

Thanks!
Seems like you are a few years late, these days no market maker will guarantee the execution/fill of your orders during news time, they changed the rules years ago when people started taking advantage of guaranteed fills and fixed spreads during news releases.
"I say high, You say low, You say why, and I say I don't know..."
  • #13
  • Edited 9:05pm Feb 6, 2009 8:31pm | Edited 9:05pm
Hi,

I see what you guys mean.

I went to live chats in FXDD, Forex Club and ACM to ask if they guarantee stops during news, like the Non Farm Payroll.

FXDD I couldn't get in the chat. So I sent email and they replied saying they DIDN'T guarantee any stops on any platform.

Forex Club said they don't guarantee it either.

ACM said they guarantee, but they don't support MT4 and use a platform of their own, and I never tried it, so I don't know if anything weird happens there. They seem to be good.

Here are screenshots of the chats where I asked if stops are guaranteed on news.

http://img17.imageshack.us/img17/361...1editeddt7.jpg
http://img17.imageshack.us/img17/994...ranteedlh9.jpg

Is there any broker that is better than others and is more honorable than others, if there is such a thing (I'm a newbie so I really don't know)?

ACM has a minimum account size of 2k USD so I guess the more reliable brokers aren't going to be as acessible as the less reliable ones.

Thanks,
Scalpa

EDIT: I was reading older posts and just found this link talking about ACM. So its not like they really guarantee anything. What use is a stop if they will mess something else up? :-/

http://www.forexfactory.com/showpost...08&postcount=2
Quoting Norbecker
I had ACM as a broker and would not recomend them to anybody. I would recommend you stay away from them. They offset their prices as soon as you enter a trade to make up for their "tight spread". I thought it was just my luck to have the market jump a few pips against my position as soon as I open a trade but I saw others post the same thing on moneytec. Also the spread is not fixed and increases at times. Good thing is I had no problem getting a check when I closed my account.
  • #14
  • Feb 6, 2009 10:27pm Feb 6, 2009 10:27pm
Check Igmarkets or Igforex
  • #15
  • Feb 6, 2009 11:03pm Feb 6, 2009 11:03pm
Quoting Scalpaholic
Hi, I'm new and this is my first post.

The thing I wanted to know but couldn't find on the forum here is the name of some brokers that would guarantee stops during FAs.

Or at least know which brokers I cannot trust in this.

I am using FXDD. Has anyone had problems with them?

Thanks!
You are not going to find this for real anywhere, regardless of what a broker's marketing text may say. There are 2 kinds of brokers; market makers (bucketshops), and ECN's (brokers who charge commissions for passing on orders from banks).

Market makers won't guarentee stops, because to do so is akin to them slitting their own throats. If the price has moved way beyond your stop, but the market maker has to "guarantee" your stop, who's going to make up the difference in the price? In this scenario, the market maker would have to, and trust me, they aren't going to do that and eat it on a bunch of money just so you can have a guaranteed stop. You'll just get a bunch of annoying messages such as "off quotes", "invalid price", etc.

ECN's cannot guarantee stops, because all they are doing is passing on the orders that banks are providing. And no bank is going to offer a price on a currency to guarantee a stop when that price no longer exists in the true interbank market.

So simply put, what you are asking for just doesn't exist. It would be great if it did, but I encourage you not to learn the hard way that it does not.
  • #16
  • Feb 8, 2009 5:17pm Feb 8, 2009 5:17pm
Quoting TC East
You are not going to find this for real anywhere, regardless of what a broker's marketing text may say. There are 2 kinds of brokers; market makers (bucketshops), and ECN's (brokers who charge commissions for passing on orders from banks).

Market makers won't guarentee stops, because to do so is akin to them slitting their own throats. If the price has moved way beyond your stop, but the market maker has to "guarantee" your stop, who's going to make up the difference in the price? In this scenario, the market maker would have to, and trust...
Amen.
  • #17
  • Feb 8, 2009 9:08pm Feb 8, 2009 9:08pm
Quoting TC East
You are not going to find this for real anywhere, regardless of what a broker's marketing text may say....

TC what you say makes a lot of sense. Sad but looks like what happens.

I think ACM would guarantee a stop but I never tried them and also there are the other weird things people complain about here and there. Their spreads aren't that cheap either, at least for the 2k accounts...

I don't want to learn anything the hard way.
  • #18
  • Dec 2, 2010 2:57am Dec 2, 2010 2:57am
hey scalpaholic. i read your post on another thread saying that someone you knew turned 250 into 17000. I dont require any proof or statements(of course if there is a statement that showed the growth i would be more confident) i jsut want to make sure that you are sure he was able to make that type of reutnr from scalpin? if you say yes, that would really make me determined to find my path through scalping and work the hours. up to now the reason i have not been able to put the time is the fear of failure that after many hours it really is a fallacy to generate returns from private scalping at home. how is your brother's friend doing right now? idont require his techniques or his money management or anyhting like that, just your word of reassurance.

thanks a lot
  • #19
  • Dec 2, 2010 3:25am Dec 2, 2010 3:25am
Quoting tenmilewalk
hey scalpaholic. i read your post on another thread saying that someone you knew turned 250 into 17000. I dont require any proof or statements(of course if there is a statement that showed the growth i would be more confident) i jsut want to make sure that you are sure he was able to make that type of reutnr from scalpin? if you say yes, that would really make me determined to find my path through scalping and work the hours. up to now the reason i have not been able to put the time is the fear of failure that after many hours it really is a fallacy...
If you are just looking for reassurance then I can honestly say it's possible. I know at least one person who has done something similar (started from around 400E in March and with a current balance above 17K). Method not exactly scalping but taking quick profits per trade (10-15p) and lots keep increasing as account grows (MM: 3% risk or profit per day).


Kostas

P.S. I only responded in this thread for your benefit, since I felt the same way before.
P.S.2. Broker FXPro by the way, no problems so far....
  • #20
  • Dec 2, 2010 4:01am Dec 2, 2010 4:01am
Quoting kostas1
If you are just looking for reassurance then I can honestly say it's possible. I know at least one person who has done something similar (started from around 400E in March and with a current balance above 17K). Method not exactly scalping but taking quick profits per trade (10-15p) and lots keep increasing as account grows (MM: 3% risk or profit per day).


Kostas

P.S. I only responded in this thread for your benefit, since I felt the same way before.
P.S.2. Broker FXPro by the way, no problems so far....
Kostas is talking about himself ...... so there you have it from the horses mouth ..... it is possible!

Another one I've heard on the forum is RR .... 250 usd to 250k usd in a year

I have a statement of a guy who traded $500 to over $600k in less than 4 months ......

So although its unlikely its still very possible !!
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