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Tadawul FX (TDFX) Discussion

  • #21
  • May 21, 2010 9:30am May 21, 2010 9:30am
Quoting onu
"item 6:'The insolvency of TADAWUL FX LTD. or of a Bank or Broker used by TADAWUL FX LTD. to effect its transactions may lead to your positions being closed out against your wishes."

Considering this, I think its your duty to disclose who are your liquidity provider(s).
As a trader I have to know how good or bad your backround is...

Serious brokers have no issue to disclose this information

Hi Onu,

I completely understand your concern and where you are coming from, however realistically speaking it is not possible for most businesses to disclose all information related to their business activities and procedures to the public. As you can imagine this can put us at great risk.

I would like to assure you that TDFX is a fully regulated and licensed company (CySec license no. 103/09) that is registered with most regulatory boards in the European Union including FSA and BAFIN, and others in Netherlands, Hungary, Spain, Switzerland, Luxembourg, etc. Tadawul FX also complies with MiFID, which is a European Union directive that regulates all financial firms in the European Economic Area. TDFX is regularly audited by Deloitte Ltd., both internally and externally, ensuring that it meets capital requirements and fully complies with all the financial regulations at all times.

As an additional security measure, TDFX also offers its retail clients insurance of funds through an Investor Compensation Fund and holds client’s funds in segregated bank accounts from company’s accounts. In the unlikely case of default/insolvency, TDFX is not permitted to use clients funds to meet its own financial obligations or for any other reason except paying its clients back.

I hope this was helpful.

Have a great weekend!
  • #22
  • Edited 11:12am May 21, 2010 10:25am | Edited 11:12am
Quote
I completely understand your concern and where you are coming from, however realistically speaking it is not possible for most businesses to disclose all information related to their business activities and procedures to the public. As you can imagine this can put us at great risk.
LOL because in reality you work with a minor pool.
top notch brokers have no issue to disclose this information (as said ONU)

for example :

http://squaredfinancial.com/english/...providers.html



"Interbank FX (www.ibfx.com), a leading provider of online foreign currency (forex) trading, reveals its unique multi-bank order routing system, which provides access to liquidity and automatically executes trades with five of the world's largest financial institutions, including Bank of America, Citigroup and Goldman Sachs." (+ jp Morgan lately)

http://www.ibfx.com/corporate/post/2...-Partners.aspx



do they take a great risk ?
  • #23
  • May 21, 2010 2:38pm May 21, 2010 2:38pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting TDFX
Hi Onu,

I completely understand your concern and where you are coming from, however realistically speaking it is not possible for most businesses to disclose all information related to their business activities and procedures to the public. As you can imagine this can put us at great risk.

I would like to assure you that TDFX is a fully regulated and licensed company (CySec license no. 103/09) that is registered with most regulatory boards in the European......


The only one in great risk is the trader by your policy of intransparency...

BTW, what does this mean:"...where you are coming from" ?
  • #24
  • May 21, 2010 3:20pm May 21, 2010 3:20pm
+1


http://www.fxcentral.net/bank_partners.html
  • #25
  • May 21, 2010 4:22pm May 21, 2010 4:22pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting duxis
+1


http://www.fxcentral.net/bank_partners.html

unfortunately a NOGO for me since maroonland broker with all the absurd NFA trade restrictions
  • #26
  • May 24, 2010 8:04am May 24, 2010 8:04am
Hi TDFX,

May i know what is the meaning of fixed spread 1 pip? I have been running the demo for 2 days but it seems like each pair is offering different spread such as EURUSD is 2 pips and GBPUSD 3 pips.

oh ya 1 more thing, does TDFX offer Micro lot account?

Thank you.
  • #27
  • May 24, 2010 8:22am May 24, 2010 8:22am
Quoting HealWhat
Hi TDFX,

May i know what is the meaning of fixed spread 1 pip? I have been running the demo for 2 days but it seems like each pair is offering different spread such as EURUSD is 2 pips and GBPUSD 3 pips.

oh ya 1 more thing, does TDFX offer Micro lot account?

Thank you.


Hi HealWhat,

Fixed spread means that there is no widening of spread at any time. Many Forex companies widen the spread during the Asian trading session or during economic news releases, TDFX on the other hand, always keeps the spread fixed. So for example if you have a Standard Account and are trading EUR/USD, you will have a fixed spread of 2 pips at all times. Depending on the Account Type you have and the currency pairs you are trading the spread will vary. For more information please see our spreads table http://www.tadawulfx.com/public/trad...s/spreads.html

TDFX offers Micro accounts, with the minimum lot size of 0.05.

All the best!
  • #28
  • May 25, 2010 3:01am May 25, 2010 3:01am
TDFX have bad execution during fast-markets conditions

ex:

11:30:00 '10004527': instant order buy 3.00 GBPUSD at 1.4490 sl: 0.0000 tp: 0.0000
11:30:00 '10004527': request was accepted by server
11:30:05 '10004527': request in process
11:30:10 '10004527': requote 1.4513 / 1.4516 for open buy 3.00 GBPUSD at 1.4490 sl: 0.0000 tp: 0.0000

14:00:01 '10004527': instant order sell 3.00 USDCAD at 1.0442 sl: 0.0000 tp: 0.0000
14:00:01 '10004527': request was accepted by server
14:00:07 '10004527': request in process
14:00:27 '10004527': requote 1.0369 / 1.0373 for open sell 3.00 USDCAD at 1.0442 sl: 0.0000 tp: 0.0000
Charting Markets into the Future...MǎҖ€¥.
  • #29
  • May 25, 2010 12:07pm May 25, 2010 12:07pm
Typical of a bucketshop. STP brokers do not requote and take that long to process.
  • #30
  • May 25, 2010 9:50pm May 25, 2010 9:50pm
Quoting MaXeY
TDFX have bad execution during fast-markets conditions
And they hold orders on their servers for up to 10 seconds so they can watch how far the spike goes and then they execute your order at the end of the spike when they know the market is retracing.

Whether or not they are STP is irrelevant. An STP broker uses the services of a dealing desk located remotely. So Tadawul is a dealing desk broker and we all know they are bucket shops who trade against the client. Don't waste any more time with them.
  • #31
  • May 26, 2010 2:18am May 26, 2010 2:18am
Dear MaXeY, DaleC, and PipStar,

Please note that it is in our and traders interest to offer fast and instant execution at all times. TDFX is not concerned with making a “quick buck” but rather has a goal of staying in business for the long term and becoming the best broker in the industry. Every forex firm faces challenges, and TDFX in particular always investigates and overcomes the obstacles in its way.

We have investigated MaXeY’s trading and can confirm that he was trading during the news when the markets were highly volatile (this was also discussed over the phone with him). Traders are always advised to take caution during economic news releases as markets can behave unpredictably and jump over 70 pips in a matter of one second. Capturing a rate in such conditions can be difficult and can sometimes result in requotes and even delays, especially if there are hundreds and hundreds of traders trying to place the same order. TDFX generally supports news trading, and unlike other brokers, does not freeze rates or widen spreads. Nonetheless, we highly advise that due diligence is practiced as news trading carries a high degree of risk where profits as well as losses can be magnified.

Please feel free to come visit us in our offices to see how we operate and we would be more than happy to show you around.

Have a great day!
  • #32
  • May 26, 2010 5:36am May 26, 2010 5:36am
Quoting DaleC
Typical of a bucketshop. STP brokers do not requote and take that long to process.

This is a broker that doesn't even care if their demo platform execution is shady. Don't believe me, try it out for yourself is all I can say, if the demo doesn't turn you off trading with this broker live...You might like to give your deposits a kiss goodbye before you wire them through.
Thank you Lux!
  • #33
  • May 27, 2010 12:05am May 27, 2010 12:05am
Hi All

I'm a new forex trader, I have been training for about 8 months on demo account. When I felt that I'm ready I faced a problem of choosing a safe broker, not a money maker , support me , don't try to hit me by spikes to hit my SL and so on.

I searched on different forums specially forexpeacearmy.com and others. Tadawul FX was one of the best (LOT OF REVIEWS WITH GOOD GRADE) beside that I searched other scam sites to know whether this broker is related to them or not.

I opened my first account with them, and as I mentioned before the only problem I faced was sending the cash and fees of the transaction (not our case now). It works quite good maybe I faced once or twice a re-quote but when it happens the programs confirms me do u accept for this price or no.

But what I read here made me terrified, who is the right side ? Is my choice was wrong? Really I confused do I have to withdraw my money and loss a lot of money in transaction again or what?

Please help!!!!!!

Best Regards
extradeath
  • #34
  • May 27, 2010 1:36pm May 27, 2010 1:36pm
Kate,
Hi, thanks for being here -
I'm running your MT4 demo and my favorite EA is a grid/hedge style EA that partially multiplies lot sizes (semi-martingale)...my concern is this:
How closely does your demo price feed and execution match live trading? My style is NOT news spikes or scalping - but some MT4 brokers are WILDLY different between demo and live (such as IBFX) and some are exactly the same (not necessarily in filled prices/execution, but at least in terms of price feed) such as JadeFX.

So again, before I open a "live" acccount, can you speak to what I can expect between demo vs live re actual price feeds? Also, can any other TDWFX user speak up regarding this issue? Thanks!
Odysseus
forexfusiondotcom
  • #35
  • May 28, 2010 1:50am May 28, 2010 1:50am
Quoting extradeath
Hi All

I'm a new forex trader, I have been training for about 8 months on demo account. When I felt that I'm ready I faced a problem of choosing a safe broker, not a money maker , support me , don't try to hit me by spikes to hit my SL and so on.

I searched on different forums specially forexpeacearmy.com and others. Tadawul FX was one of the best (LOT OF REVIEWS WITH GOOD GRADE) beside that I searched other scam sites to know whether this broker is related to them or not.

I opened my first account with them, and as I mentioned before the...
Thank you for your post, in this day and age you should trust no one but yourself, yes listen to what people say, but you be the judge.

TADAWUL FX offers real market trading conditions as we work with direct banking feeds and cover all our clients’ trading with the banks that we work with.

You have stated in your post that you are happy so far with your experience, so you have no need to be afraid. I’m pleased to see that an honest person has spoken freely about his experience with TDFX.

I would advise everyone reading these posts to always remember that a number of individuals may write negative posts for many different reasons:

1. They may be employees in the Marketing Departments on other forex companies.
2. They may be IB’s working for other Forex companies.
3. They may simply just not have the experience, or professional knowledge regarding the forex industry to post a realistic opinion on matters.
4. They may also be traders that have just made losses, or couldn’t trade as they wished, due to the market not allowing them but they want and need to blame someone and the Forex broker is naturally always the first target.

However again, you should be the judge, and if we think of this realistically, if someone trades with a forex company and they are unhappy with their services they would move on and yes possibly also post a bad review. In cases where you see people continuously posting and reposting accusations and remarks about a company or even several companies, in my opinion, this shows the individual is probably not a person you should take into serious consideration.

As TDFX likes to guide clients with best methods of practice, taking solely the best interests of our traders into consideration, I have provided a list below that clients can follow if they wish to apply caution before working with any Forex company.

1. Make sure that the forex broker is licensed.
2. Make sure before you invest that the broker provides the facilities that you are looking for.
3. Once you open your Live account, invest a small amount to begin with.
4. At first only trade small positions.
5. Also only trade a few positions at a time.

Remember you are testing, there are always market opportunities, take a few days or even a week to test a broker. This way if you do not like their services you may withdraw your funds and you would have only risked small amounts. For example you can open positions with an initial margin of $10 for example as this is not a big amount to risk in your search for the best broker for your needs.
  • #36
  • May 28, 2010 2:58am May 28, 2010 2:58am
Quoting odysseus11
Kate,
Hi, thanks for being here -
I'm running your MT4 demo and my favorite EA is a grid/hedge style EA that partially multiplies lot sizes (semi-martingale)...my concern is this:
How closely does your demo price feed and execution match live trading? My style is NOT news spikes or scalping - but some MT4 brokers are WILDLY different between demo and live (such as IBFX) and some are exactly the same (not necessarily in filled prices/execution, but at least in terms of price feed) such as JadeFX.

So again, before I open a "live" acccount,...
Odysseus,
I had the same concern as you just mentioned in this thread, and at one stage I just had to give it a go. So once the live account was opened with TDXF I set up a VPS service based in London to run different EA's on different pairs on this account. At the same time I have set up a demo account with TDXF and made sure that the account balance was the same as the live account. Again I set up the demo as the live account (same EA's, pairs and internal settings) and let it run at home 24hrs, sort of like a VPS.
The result is positive. The EA's on the demo traded identically as on my VPS with an accuracy above 98%. Please note that my demo is running half way around the world from TDXF's servers. Till now i can only confirm that what Kate from TDXF is writing in this thread seems to be genuine. Please note that I am not an affiliate or an IB of TDXF.
  • #37
  • May 28, 2010 9:16am May 28, 2010 9:16am
thanks pip, thats exactly the kind of feedback I was looking for, I appreciate it...
Odysseus
forexfusiondotcom
  • #38
  • May 28, 2010 9:53am May 28, 2010 9:53am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
"1. They may be employees in the Marketing Departments on other forex companies.
2. They may be IB’s working for other Forex companies.
3. They may simply just not have the experience, or professional knowledge regarding the forex industry to post a realistic opinion on matters.
4. They may also be traders that have just made losses, or couldn’t trade as they wished, due to the market not allowing them but they want and need to blame someone and the Forex broker is naturally always the first target."

Nothing of the above mentioned points is true in my case, I have 8 years trading experience, manually and automated.
The fact is this broker runs on stone age 4 digits platform and this is fatal for fractal sensitive scalper EAs. That's why I left them (with 25% profit!) after some weeks.
In the same time frame I made 87 % profit on a 5 digit broker with identical EA setup.

TDFX, just upgrade to 5 digits and I'll be back!
  • #39
  • Jun 2, 2010 12:56am Jun 2, 2010 12:56am
HI KATY

How are you? and where are you?

We haven't heard from you since a month. Hope you are all right.

I was wondering why don't you give us 5 digits instead of . Beside that did you find us a new way to send cash as western Union or any other means

Hope to hear from you soon
Best Wishes,
  • #40
  • Jun 2, 2010 1:02am Jun 2, 2010 1:02am
The spread for micro accounts is bad
specially NZD
I can't trade it.
and also other pair

please check it
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