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  • #121
  • May 5, 2010 1:50am May 5, 2010 1:50am
Quoting Beljevina
I trade with them, have for almost a year. They've been my 1st broker and I've had no major complaints, other than some rare outages - nothing approaching anything unreasonable.

EAs can run into issues depending on how they're coded - their feed uses a "_fx" suffix designation on their pair names, so you need to be able to work with that. I'd caution though against their demo - it used to be exactly the same as the live feed, but months ago that's not been the case - it presents a less flattering picture of spreads, than is the case with the...
I do use EAs but they can cope with that.

What bothers me is the "car salesman" mentality I've come across.

No positions available, then when I join the waiting list, suddenly I'm the next on the list and I'll be offered an account within the next few days.

Then great news, its a founder leaving so I get founder pricing and they will hold the slot for 3 days for me.

So now I feel rushed into sorting it out in 3 days, quick where's my chequebook........ It's clever marketing, but I think I'm going to pass on this one.
  • #122
  • May 5, 2010 2:06am May 5, 2010 2:06am
Quoting BenScoobert
I do use EAs but they can cope with that.

What bothers me is the "car salesman" mentality I've come across.

No positions available, then when I join the waiting list, suddenly I'm the next on the list and I'll be offered an account within the next few days.

Then great news, its a founder leaving so I get founder pricing and they will hold the slot for 3 days for me.

So now I feel rushed into sorting it out in 3 days, quick where's my chequebook........ It's clever marketing, but I think I'm going to pass on this one.
Ben, you may have not liked the approach but these people are for real!! - This is the FIRST broker I've used that trades like the demo. The only one I've ever tried where everything works like it should. Dont be fooled by your great timing. It can take months to get off the waiting list. I can guarantee if you try to get in next month you'll have to wait. I'm still pinching myself about the broker hoops I had to jump through just to find a broker that's honest.
  • #123
  • May 5, 2010 2:40am May 5, 2010 2:40am
Quoting Aja
The only one I've ever tried where everything works like it should.
Then you've been trying the wrong brokers, period.
  • #124
  • May 5, 2010 2:42am May 5, 2010 2:42am
Quoting BenScoobert
What bothers me is the "car salesman" mentality I've come across.
Your concerns are fully warranted. It bears repeating so I will repeat it, the notion of waiting lists and monthly subscription fees, in this industry, is absolutely ridiculous.
  • #125
  • May 5, 2010 3:10am May 5, 2010 3:10am
Quoting Trader KGB
Your concerns are fully warranted. It bears repeating so I will repeat it, the notion of waiting lists and monthly subscription fees, in this industry, is absolutely ridiculous.
ignorance is still bliss apparently.

you not understanding the business model does not make it "absolutely ridiculous", it just outlines how uninformed you are.
  • #126
  • May 5, 2010 3:51am May 5, 2010 3:51am
Quoting Trader KGB
Then you've been trying the wrong brokers, period.
My balance doesnt think I've made the wrong choice. - But I agree with you about brokers. There are plenty of good brokers IF YOU DONT TRADE WITH MT4. - Once you need MT4 the list of honest brokers shrinks dramatically.

Profitable automated strategies are the enemy of scam brokers. A tool that can drain money from them 24/5 - My list of MT4 brokers is down to two (and 1 possible in Beta) out of the ridiculous number of MT4 brokers out there. Its very hard to find a broker that will let you profit on 100% auto - Collective FX is one of my 3 (and I've had LIVE accounts with most big name brokers out there).
  • #127
  • May 10, 2010 3:00pm May 10, 2010 3:00pm
I dont know how the live feed is from this broker.

But the demo feed hangs for 2-3mins and then spikes to the current price after that.
  • #128
  • May 10, 2010 3:42pm May 10, 2010 3:42pm
I think CFX had the only LIVE feed on Friday during the Greece event that DIDNT slip, freeze or disconnect. All of my trades were executed without requote while I was reading numerous horror stories from others. All was normal and very profitable for me. 75% or all FX transactions are executed by 10 banks. CitiFX is number 3 on that list. When you trade with CFX you're trading inside a bank that has lots of internal liquidity let alone the remaining market! My trades were prob executed internally and went off without a hitch. I'm not going anywhere!!
  • #129
  • May 10, 2010 7:50pm May 10, 2010 7:50pm
Quoting Aja
I think CFX had the only LIVE feed on Friday during the Greece event that DIDNT slip, freeze or disconnect. All of my trades were executed without requote while I was reading numerous horror stories from others. All was normal and very profitable for me. 75% or all FX transactions are executed by 10 banks. CitiFX is number 3 on that list. When you trade with CFX you're trading inside a bank that has lots of internal liquidity let alone the remaining market! My trades were prob executed internally and went off without a hitch. I'm not going anywhere!!...
Even more reason to be weary, whilst the entire industry was in slippage and widening mode, a broker apparently connected to the liquidity source offering you that execution didn't do so....

The likely hood of your entry actually hitting the true market = 1%, further to that although you made money which is fantastic, I would be weary of my dealings.

But given your posts previously in this thread, I highly doubt you will take my post lightly and I expect some sort of defensive reply in which you praise the lord for such a godly broker.

This thread truely makes me sigh.. Good work pointing out the flaws scoobert, at least some posts are showing the truths of such a scheme.
  • #130
  • May 10, 2010 8:22pm May 10, 2010 8:22pm
Quoting Takisd
Even more reason to be weary, whilst the entire industry was in slippage and widening mode, a broker apparently connected to the liquidity source offering you that execution didn't do so....

The likely hood of your entry actually hitting the true market = 1%, further to that although you made money which is fantastic, I would be weary of my dealings.

But given your posts previously in this thread, I highly doubt you will take my post lightly and I expect some sort of defensive reply in which you praise the lord for such a godly broker.

This...

why is excellent execution something to be weary about?
  • #131
  • May 10, 2010 9:20pm May 10, 2010 9:20pm
Quoting Takisd
Even more reason to be weary, whilst the entire industry was in slippage and widening mode, a broker apparently connected to the liquidity source offering you that execution didn't do so....

The likely hood of your entry actually hitting the true market = 1%, further to that although you made money which is fantastic, I would be weary of my dealings.
I dont even have the words to respond to this Bizzaro World reply. HUH!? Good Execution is Bad? Making money is the WRONG thing to do? Never mind - I've said my peace. - Nuff Said.
  • #132
  • May 11, 2010 4:44am May 11, 2010 4:44am
Quoting Aja
I dont even have the words to respond to this Bizzaro World reply. HUH!? Good Execution is Bad? Making money is the WRONG thing to do? Never mind - I've said my peace. - Nuff Said.
I understand his point and take it all on board. I have not made my mind up about cfx yet, risking $4-500 account aint gonna kill me and I can post an honest review after a while.

Aja, a couple of straight questions for you, if you prefer reply to my PM if you'd rather not answer here.

Are you a profitable trader, is your cfx account up from your initial deposit and have you withdrawn funds from it? Do you have any financial interest in cfx as an owner/shareholder?
  • #133
  • May 12, 2010 10:14pm May 12, 2010 10:14pm
Quoting BenScoobert
I understand his point and take it all on board. I have not made my mind up about cfx yet, risking $4-500 account aint gonna kill me and I can post an honest review after a while.

Aja, a couple of straight questions for you, if you prefer reply to my PM if you'd rather not answer here.

Are you a profitable trader, is your cfx account up from your initial deposit and have you withdrawn funds from it? Do you have any financial interest in cfx as an owner/shareholder?
If anyone was wondering, I haven't had a reply yet.
  • #134
  • May 12, 2010 11:32pm May 12, 2010 11:32pm
Quoting BenScoobert
I understand his point and take it all on board. I have not made my mind up about cfx yet, risking $4-500 account aint gonna kill me and I can post an honest review after a while.

Aja, a couple of straight questions for you, if you prefer reply to my PM if you'd rather not answer here.

Are you a profitable trader, is your cfx account up from your initial deposit and have you withdrawn funds from it? Do you have any financial interest in cfx as an owner/shareholder?
I'm tired of talking about it. I simply wanted to answer your questions about CFX. Not to be told that the good results I'm gettting from them are sinister. Sheeesh. I've been trading FX for a long time and I know that one of the hardest things to do is finding a decent broker. I only offered my honest opinion. So... Yes, I am a profitable trader and I think in my first mention I said if you're a 'profitable' trader then CFX might be good for you because if the strategy trades semi-frequently your costs are cheaper and fixed. Yes, my account is up my from my initial deposit. Yes, I have withdrawn (usually 1-2 day response), No I dont have any financial interest in CFX. I'm just a satisfied client.
  • #135
  • May 13, 2010 6:43am May 13, 2010 6:43am
Quoting Aja
I'm tired of talking about it. I simply wanted to answer your questions about CFX. Not to be told that the good results I'm gettting from them are sinister. Sheeesh. I've been trading FX for a long time and I know that one of the hardest things to do is finding a decent broker. I only offered my honest opinion. So... Yes, I am a profitable trader and I think in my first mention I said if you're a 'profitable' trader then CFX might be good for you because if the strategy trades semi-frequently your costs are cheaper and fixed. Yes, my account is...
Thanks for that
  • #136
  • Oct 5, 2010 8:08am Oct 5, 2010 8:08am
Has anyone noticed the comment regarding Dodd-Frank on the main page of CollectiveFX? (http://www.thecollectivefx.com/members/thecollectivefx) They state that they are obtaining an "STP ONLY LICENSE" which will allow them, among other things, 100:1 margin.

Not that I want to jump on the margin debate band wagon, but I found this interesting in that I trade with a different US based ECN and was wondering: does anyone known if this sort of thing is legit, and if so, won't that give a heck of an advantage to a true ECN that wants to and/or can pursue this sort of license?
  • #137
  • Oct 7, 2010 10:54am Oct 7, 2010 10:54am
Quoting stan_b
Has anyone noticed the comment regarding Dodd-Frank on the main page of CollectiveFX?...
The CFTC regulations only apply to REGULATED financial entities. CollectiveFX is not regulated at all, so the rules don't apply to them.

Put another way, only good citizens obey the law, criminals by definitions do not.

Note that I'm not implying that CollectiveFX is a criminal entity.

If you want to move to an unregulated broker, good luck, but don't come here complaining afterwards.
  • #138
  • Oct 7, 2010 11:32am Oct 7, 2010 11:32am
Quoting Adal
The CFTC regulations only apply to REGULATED financial entities. CollectiveFX is not regulated at all, so the rules don't apply to them.
Nope, the rules apply to any entity handling retail FX transactions of US citizens, regardless of regulation. The brokers sitting on US soil without any registration (CollectiveFX, IamFX, various other sketchy shops) are taking a huge legal gamble going forward.
  • #139
  • Oct 7, 2010 11:43am Oct 7, 2010 11:43am
I would not normally recommend a non-regulated broker. that being said, my experience with collective FX is that they are good guys/good broker. very on top of the technical side for sure.
BarrySDCA Commercial Network Services
  • #140
  • Edited May 19, 2013 12:56am May 18, 2013 3:50am | Edited May 19, 2013 12:56am
Any recent customer experience to share? I'm quite sick of the problems I had with IC Markets AU, and looking for another low spread ECN broker. The $147/mth fee is fine with me based on my current commissions expenditure at other ECN brokers. I'm fully aware this broker is unregulated and registered in Belize. Want to hear feedback about their live server and trading conditions, and if possible their customer support and response to issues.

I got my feedback from another forum, questions answered.
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