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Any brokers guaranteeing stop loss protection?

  • #81
  • Jun 22, 2009 10:43am Jun 22, 2009 10:43am
Quoting GuateForex
This are the details of the trade... the original SL Value that I put when I entered the order was 1.6479

Currency: GBP/USD
Open Hour: 09:59:25 (06/19/2009) - Ny's TimeBad Exe
Close Hour: 11:55:53 (06/19/2009) - Ny's Time
Open: Sell at 1.64065
Closed: 1.65376

As you see a difference of 58 pips from my Original Stop Loss Value. The order took between 2-5 minutes to get executed!!!

I follow a Signal service with a group of people, and I was the only one to get this bad execution... The other people of the group got their stop Loss...
I was wrong about the 2 to 5 minuts delay in execution of the Stop loss order... IT WAS almost 10 MINUTES DELAYED.

Reviewing the trade on a 1 Minute Graph you can see that the Original Stop Loss Value was reached at 11:46... and the order was executed at 11:55.53 ... 10 minutes after!!!
Attached Image (click to enlarge)
Click to Enlarge Name: Problema FXCM.JPG Size: 142 KB
  • #82
  • Jun 22, 2009 10:46am Jun 22, 2009 10:46am
To be Honest with all...

I want you to know that I was contacted by Jason Rogers From FXCM here on a private message... He offered to me to take a look at this... Here is a copy of the mail he just sent to me...

******************************************
Thanks XXXXX. I opened a case with our trade audit team for the ticket you sent over and it has been take care of. Our audit team will be in touch with you today to let you know the outcome.

Once again, I do apologize for the stress this caused you, and our goal with every trader is to have a long lasting relationship.

If there is ever anything I can do to help, don't hesitate to let me know.

Jason

******************************************

I will post here the result of this for all you to know and follow this case..
  • #83
  • Jun 22, 2009 12:34pm Jun 22, 2009 12:34pm
Quoting GuateForex
To be Honest with all......
They have just called me from their technical department... telling me that it was a techincal issue and that they were going to give me back the money y 2 or 3 days....

I will post here when and if they do that
  • #84
  • Jun 22, 2009 7:32pm Jun 22, 2009 7:32pm
Crazy. But props to Jason rogers.

Thx GuateForex for keeping us in the loop.
  • #85
  • Jun 22, 2009 10:49pm Jun 22, 2009 10:49pm
Quoting jsales
Due to the BOE rate decision the market jumped from 1.6365 to 1.6082, 283 pips. While 135 pips of slippage may seem extreme, if it is put in the context of a 283 pip move it is not even half of that. Trading on news events prevents opportunities, but it also prevents enormous risks. Any trader trading during a news event, even if it means just having a stop on during that time, needs to be willing to accept those risks. FXCM prides itself on its no dealing desk business model, where we have 10 liquidity providers feeding us prices. However it is...
Could you provide us with a list of all your liquidity providers? Does that include your own trading desk?
  • #86
  • Jun 23, 2009 8:39am Jun 23, 2009 8:39am
Quoting qweabc
Could you provide us with a list of all your liquidity providers? Does that include your own trading desk?
Hi qweabc,

There are 9 banks quoting on the FXCM Trading Station platform; however, FXCM is not able to release the names of those banks due to non-disclosure agreements. If it were up to us we would disclose it to be as transparent as possible. However the banks want to be the ones giving out their name as they might have relationships with a number of financial firms in different capacities.

Being able to release this information will probably occur over time. Our first step was to create the active trader platform to show you level II type market depth. Eventually it may be possible to attach the bank name to each amount.

Here's where you can find details on the active trader platform http://www.fxcm.co.uk/active-trader.jsp

FXCM's trading desk is not a liquidity provider on the No Dealing Desk execution. Only on micro accounts through FXCM Micro.
  • #87
  • Jun 23, 2009 1:16pm Jun 23, 2009 1:16pm
Quoting 8fingers
I havn't Been there 2 years now-seems some habits cant be kicked? My beef was platform freezes. Of course at the worst times-lol.
Hey man, I've read before about the problems you've faced with your previous FXCM! I'm a forex enthusiast and seriously considering trading in the foreign exchange market as part of my investments. I was seriously considering having FXCM as my broker but reading so many negative things has been a huge turn-off!

Since I'm left without any choice, what broker can you recommend as my broker? I'm also considering MGForex at the moment but it seems almost all brokers I've reviewed also practice the same things..any trustworthy market maker you can recommend? Thanks and more trading power to you my friend!
  • #88
  • Jun 23, 2009 3:21pm Jun 23, 2009 3:21pm
Play it safe and go with MBTrading.
  • #89
  • Jun 23, 2009 4:00pm Jun 23, 2009 4:00pm
Hi Sniper,

I found interesting your method, I'm new in Forex and I am learning. I wonder if you can givbe me some advice, ¿how can I contact you?

It seems I can't send private messages around here, could I contact you by e-mail?

Pls be free to answer to my e-mail: [color=#22229c][email protected][/color]

I'll be waiting your reply.

Best Regards,
Osconforiz
  • #90
  • Jun 26, 2009 8:39am Jun 26, 2009 8:39am
Quoting GuateForex
They have just called me from their technical department... telling me that it was a techincal issue and that they were going to give me back the money y 2 or 3 days....

I will post here when and if they do that
Ok guys, just to let you know that as they offered to me, yesterday I received my money back fro FXCM, they made the adjustment to my account due to the technical issue.

Thank you Jason Rogers
  • #91
  • Jun 30, 2009 10:20pm Jun 30, 2009 10:20pm
Quoting Jason Rogers
Hi qweabc,

There are 9 banks quoting on the FXCM Trading Station platform; however, FXCM is not able to release the names of those banks due to non-disclosure agreements. If it were up to us we would disclose it to be as transparent as possible. However the banks want to be the ones giving out their name as they might have relationships with a number of financial firms in different capacities.

Being able to release this information will probably occur over time. Our first step was to create the active trader platform to show you level II type...

Any other affiliates of FXCM "providing liquidity" on the active trader platform? The way I understand this... The only people trading on the fxcm active trader platform are the 9 banks and active traders (none of who work with FXCM's money) that are external customers to FXCM, correct?
  • #92
  • Jun 30, 2009 10:27pm Jun 30, 2009 10:27pm
Fellow Traders: The reason I'm being so specific, is because I work in this industry, and I know how changing a word or two around to decieve your customer is pretty much a norm. Notice how Jason says "liquidity provider" instead of "one of our guys out to get your money".

The bottomline for us is to make money. Now we not only have to worry about how to do that, but also if our broker is going to screw us over.
  • #93
  • Jul 1, 2009 10:15am Jul 1, 2009 10:15am
Quoting qweabc
Any other affiliates of FXCM "providing liquidity" on the active trader platform? The way I understand this... The only people trading on the fxcm active trader platform are the 9 banks and active traders (none of who work with FXCM's money) that are external customers to FXCM, correct?
Hi qweabc,

To answer your question and reiterate from previous post, FXCM is not a liquidity provider on the active trader platform. Active trader uses No Dealing Desk (Agency) execution. The global banks are the ones providing the pricing. Each order that our traders submit is executed back to back with one of those banks.

Quoting qweabc
Notice how Jason says "liquidity provider" instead of "one of our guys out to get your money".
Are you implying that FXCM is taking the other side of trader positions and profiting from client losses on active trader? If you work in the industry (for a competitor), I would understand why you may want to put this doubt in someones mind. However, it is a false accusation.

-Jason
  • #94
  • Edited 1:29pm Jul 1, 2009 12:18pm | Edited 1:29pm
I guess it's reverse way... he ever profit from your loss

oh I am joking dear Ambassador... he profit from your bank partners.(?!?!)

Quoting Jason Rogers
Hi qweabc,

Are you implying that FXCM is taking the other side of trader positions and profiting from client losses on active trader? If you work in the industry (for a competitor), I would understand why you may want to put this doubt in someones mind. However, it is a false accusation.

-Jason

http://www.forexfactory.com/images/s...n/post_old.gif Jan 17, 2009 12:48pm
qweabc
Member
Member Since Oct 2008
124 Posts

http://www.forexfactory.com/images/icons/icon1.gif CNBC FXCM free $25
My gf seemed really interesting in trading, and would always sit right by me and watch me trade every day. So one day about 4 weeks ago, when I noticed that FXCM was giving a free $25 dollar account to anyone that registered for the CNBC challenge, I got her one too. Within three weeks, she turned that into $2400!!!! I told her to cash out, and she just received the check. lol.. I still remember at one point, her account balance was like $600 and she was trading 8 mini lots. In any case, we got some free money!!!! Now we are trying to figure out if we want to spend that money in Vegas or Florida.

Anyone else make any free money out of that promo? or lost that, deposited more and lost that too?
  • #95
  • Sep 1, 2016 1:39pm Sep 1, 2016 1:39pm
Just A Thought.

I worked as croupier in a casino for 3 years.

Some times people would claim a bet that wasn't there or a bet on 2 numbers and claim it was meant to be on the winning number as a whole. (any one who knows roulette will know what I'm talking about. )

What the managers would usually do, is give the customer (in this case the trader) The benefit off the doubt. And pay them out regardless of what the managers truly thought. ( which they have done in this case - i.e. the broker, which I am happy about as I'm looking for them to be my broker).

Its better for the broker or the casino to keep the traders/punters happy, that way they keep coming back.
In the casino the longer they play the more they lose. (as the saying goes)
for a broker - the more the traders trade, the more pips per spread they earn .
  • #96
  • Last Post: Nov 12, 2018 6:13am Nov 12, 2018 6:13am
I think guaranteeing stop loss is impossible, unless broker is manipulating the markets, right?
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