Collective FX has LOST its Mojo. (New Feed is WORSE) | Forex Factory

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Collective FX has LOST its Mojo. (New Feed is WORSE)

  • #1
  • First Post: Sep 22, 2009 9:01pm Sep 22, 2009 9:01pm
This one is a real sad story. Until recently Collective FX was the New SuperStar Broker on the scene. They had incredible spreads UNTIL their move to Duetche Bank. What was supposed to get better actually got WORSE. While I still trust them more than most bucket shops - they now have retail broker spreads. It actually looks like the Activetrades Scalper feed from DB too. (but Activetrades marks it up 0.3) - Attached is a pic from my EA that records spreads (notice the 6th from the bottom where I got a Zero spread) - I've been one of the biggest CFX boosters so its only fair that I retract part of my recommendation since conditions have changed so drastically. This leaves MBTrading, ATC Brokers and FXDD Currenex PowerTrader (If you dont need MT4) as some of the few ECN feeds available.
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  • #2
  • Sep 23, 2009 1:19am Sep 23, 2009 1:19am
if they charge you no spread they are even more of a criminal. The market doesnt work off 1 price.
  • #3
  • Sep 23, 2009 1:39am Sep 23, 2009 1:39am
CFX doesnt charge spread, ATC doesnt charge spread. CFX just charges a flat monthly fee (Very Kool!) and ATC charges a $8 per 100K commission. I like both of those plans waaaay better than the spread padding that most Bucketshops do. I cant count the number of times I've missed a TP by 1 or 2 pips. With brokers like CFX and ATC those TP's would have been filled since they have razor thin speads. And since the spreads are truly flexible and anonymous sometimes 1 banks Bid will equal another banks Ask for a ZERO spread. (In fact I've actually seen NEGATIVE spreads!!)
  • #4
  • Sep 23, 2009 2:52am Sep 23, 2009 2:52am
Quoting Fulltime247
I cant count the number of times I've missed a TP by 1 or 2 pips. With brokers like CFX and ATC those TP's would have been filled since they have razor thin speads. And since the spreads are truly flexible and anonymous sometimes 1 banks Bid will equal another banks Ask for a ZERO spread. (In fact I've actually seen NEGATIVE spreads!!)
what?! negative spreads?? u gotta be kidding rite? tell me about it.
  • #5
  • Edited 3:23am Sep 23, 2009 3:10am | Edited 3:23am
Quoting Ricx
what?! negative spreads?? u gotta be kidding rite? tell me about it.
LOL! - Sometimes when price is moving fast (like after a news announcement) the BID/ASK can fluctuate wildly. And on a ECN feed where you see unpadded spreads - For a tick or two you may see a negative spread! Instant Cash!! - Just like in the case in my pic where the spread was Zero (6th from bottom in pic) sometimes you'll actually see a negative. It just proves that the spreads you're seeing ARE NOT PADDED!! - Most brokers pad spreads by some amount - If you ever see a Zero spread on your broker you're probably at a GREAT broker that doesnt pad the prices. (not that many around since most dont charge commission and make their money by padding the bank spreads) - NOTE: When ATC Brokers were with HotSpot this happened quite a bit. HotSpot was very kool since you could see the counterparty to your trades. Lots of banks, lots of individual traders that could trade with no restrictions, no stop levels, place orders inside the Bid/Ask spread, etc. - When you have that kind of pricing freedom all kinds of weird and wonderful things happen.
  • #6
  • Sep 23, 2009 3:51am Sep 23, 2009 3:51am
Quoting Fulltime247
LOL! - Sometimes when price is moving fast (like after a news announcement) the BID/ASK can fluctuate wildly. And on a ECN feed where you see unpadded spreads - For a tick or two you may see a negative spread! Instant Cash!! - Just like in the case in my pic where the spread was Zero (6th from bottom in pic) sometimes you'll actually see a negative. It just proves that the spreads you're seeing ARE NOT PADDED!! - Most brokers pad spreads by some amount - If you ever see a Zero spread on your broker you're probably at a GREAT broker that doesnt pad...
u r talking about atc brokers i've been testing the demo since last july and atc had very good spread, but some says when it comes to live trading orders often didnt fills... is that true?
  • #7
  • Edited 4:52am Sep 23, 2009 4:03am | Edited 4:52am
yea there is always a issue with low liquidity pairs. the popular EA's right now focus on trading the slowest session (the asian session) where liquidity is low (USA, London are asleep) so yes it can be harder to trade during those times because the biggest banks are closed. - It was probably EURGBP/EURCHF or AUDNZD I'd bet since FapTurbo/FapTurbo Evolution and MegaDroid pile thousands of traders into a slim 2 hour window that has the lowest liquidity of the day. - If you're not trying to jump on that bandwagon you should be OK.
  • #8
  • Sep 23, 2009 6:59am Sep 23, 2009 6:59am
For small pocket it is hard to find an ECN broker who offers really tight untouched quotes.

Even MBT quotes are manipulated - especially GBP/JPY.
No more 3 digit and looks like MM quotes compared with real ECN broker.
  • #9
  • Sep 23, 2009 7:12am Sep 23, 2009 7:12am
Quoting Mr-Forex
Even MBT quotes are manipulated - especially GBP/JPY.
No more 3 digit and looks like MM quotes compared with real ECN broker.
errr... what?
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I'm not insane; my mother had me tested.
  • #10
  • Sep 23, 2009 7:27am Sep 23, 2009 7:27am
Really interesting.

After my post something happened to MBT.
  • #11
  • Sep 23, 2009 8:31am Sep 23, 2009 8:31am
Fulltime..
i don't understand the pic..those are spreads NOW from collective?
and they are at what time? are they the max spreads? What were they before?
You say their spreads got worse but then point out your 0 PIP Spread?

Their spreads go up and down depending on time of day so I'm not sure what that chart shows...

here's now at 9:30am on demo CFX
Attached Image
taking series 3 and 34
  • #12
  • Sep 23, 2009 4:24pm Sep 23, 2009 4:24pm
to shoot me an email so i can dowload their demo to take a peek. Their website sounds like they are trying to sell an EA with guarenteed profits such as Fapturbo. I will repost on my analysis shortly.
  • #13
  • Sep 23, 2009 4:29pm Sep 23, 2009 4:29pm
charge a montly fee. Can you please elaborate?

Quoting Fulltime247
CFX doesnt charge spread, ATC doesnt charge spread. CFX just charges a flat monthly fee (Very Kool!) and ATC charges a $8 per 100K commission. I like both of those plans waaaay better than the spread padding that most Bucketshops do. I cant count the number of times I've missed a TP by 1 or 2 pips. With brokers like CFX and ATC those TP's would have been filled since they have razor thin speads. And since the spreads are truly flexible and anonymous sometimes 1 banks Bid will equal another banks Ask for a ZERO spread. (In fact I've actually seen...
  • #14
  • Sep 23, 2009 4:59pm Sep 23, 2009 4:59pm
They dont want any more members at this time... seem like some kind of scam to me. Also, there is no physical address. Below is what they state on their website. I will stay with the Currenex for now---btw caught the eur on its way up and down today. Im taking the week off.

I know it sounds strange that we don't want any more members, but you have to keep in mind that this is not our primary business. We are just a group of traders, and trading is our business. None of us are looking for a job, or want to start a business, we just want to trade, and this is becoming too much of a job. So that's why we only want a limited number of members.

If you really want to join, there is a waiting list (Click Open Account to get on the waiting list). If a slot opens up, you will be notified.

t


Quoting XXTrader
to shoot me an email so i can dowload their demo to take a peek. Their website sounds like they are trying to sell an EA with guarenteed profits such as Fapturbo. I will repost on my analysis shortly.
  • #15
  • Sep 23, 2009 8:05pm Sep 23, 2009 8:05pm
My pic is the spreads before they switched to Duetche Bank. They are significantly better than the current feed. Notice how many times the spread were fractional - 0.90 and below. They had true flexible spreads. Now the feed is retail with higher and more stable spreads.
  • #16
  • Sep 23, 2009 8:09pm Sep 23, 2009 8:09pm
Quoting Fulltime247
This one is a real sad story. Until recently Collective FX was the New SuperStar Broker on the scene. They had incredible spreads UNTIL their move to Duetche Bank. What was supposed to get better actually got WORSE. While I still trust them more than most bucket shops - they now have retail broker spreads. It actually looks like the Activetrades Scalper feed from DB too. (but Activetrades marks it up 0.3) - Attached is a pic from my EA that records spreads (notice the 6th from the bottom where I got a Zero spread) - I've been one of the biggest...
RE: http://www.forexfactory.com/showpost...8&postcount=10


Shit's coming full circle now huh. Seems like you and Skorcht were all gung-ho on CollectiveFX. Hope you didn't lose anything.
  • #17
  • Sep 24, 2009 3:06am Sep 24, 2009 3:06am
Quoting GulfCoastPip
RE: http://www.forexfactory.com/showpost...8&postcount=10


Shit's coming full circle now huh. Seems like you and Skorcht were all gung-ho on CollectiveFX. Hope you didn't lose anything.
  • #18
  • Sep 24, 2009 3:56am Sep 24, 2009 3:56am
No Loss. Its just that they went from having the BEST spreads to slightly better that normal retail. So its not a Broker Blowup just a disappointment for a brokerage that was headed in the right direction.
  • #19
  • Edited 5:27am Sep 24, 2009 5:12am | Edited 5:27am
Quoting Takisd
if they charge you no spread they are even more of a criminal. The market doesnt work off 1 price.
zero to negitive spreads happen with some ecn brokers, seen negitive on currenex . here is a some shock for you, the gomarkets feed hits 0 and negative on some pairs!
  • #20
  • Sep 24, 2009 7:23am Sep 24, 2009 7:23am
Quoting GulfCoastPip
RE: http://www.forexfactory.com/showpost...8&postcount=10


Shit's coming full circle now huh. Seems like you and Skorcht were all gung-ho on CollectiveFX. Hope you didn't lose anything.
you act like the broker just went bankrupt?

It would appear that they do indeed have .1 or .2 pips higher spread on average than before which isn't what was suppose to happen but does that mean they are a scam?
taking series 3 and 34
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