Hi guys
The last 2 weeks have been hell as an ODL (Now FXCM) customer. Wondering if there is anything I can do about it?
Have been with ODL for about 3 months. Testing an EA I have written plus some small trades (Nothing fancy, no scalping or news trading). My EA seems to work reasonably well so I decide Wednesday (27th May) to trade larger. Typically trading 0.1 - 0.4 lots I decided to go much larger with 4 lots.
My EA works well and I take profit at 40 odd pips. My previous trades at 0.4 lots would usually earn me around £120 so I was expecting quite a nice tidy profit from 4 lots.
It turns out that during the takeover of ODL by FXCM the lot sizes for Oil have changed from 1000 barrrels per lot to 100 barrels per lot. I am told that I have been informed by email of the changes but searching (Amoungst the 90 emails from ODL since April) I can only find an email saying that Margin and Instrument changes will be happening. NO MENTION OF LOT CHANGES
Is it wrong to assume that for something as large as lot sizes to be changing that they couldnt make it a little more clear in an email?
Now I came to trade today and find I cannot enter trades. Oil has moved 15 points in 3 bars (IE not very much) but Metatrader is telling me that it accepts the order, then it prints a message "Off Quote". I tried 10 times to get into a position. The price action was hardly moving at all at this time!
Phoning them I am told I should be running TSII alongside MT4. I have no idea why or how my EA should work with that but the whole thing has become a joke. 45 minutes later Oil has moved 180 pips.
Is there anything I can do? I feel ripped off, angry and now have no confidence in there platform. I have spent countless hours wasting my time on their "Chat" portal.
Also can anyone recommend an MT4 broker that I can trade commodities on.
Rich
The last 2 weeks have been hell as an ODL (Now FXCM) customer. Wondering if there is anything I can do about it?
Have been with ODL for about 3 months. Testing an EA I have written plus some small trades (Nothing fancy, no scalping or news trading). My EA seems to work reasonably well so I decide Wednesday (27th May) to trade larger. Typically trading 0.1 - 0.4 lots I decided to go much larger with 4 lots.
My EA works well and I take profit at 40 odd pips. My previous trades at 0.4 lots would usually earn me around £120 so I was expecting quite a nice tidy profit from 4 lots.
It turns out that during the takeover of ODL by FXCM the lot sizes for Oil have changed from 1000 barrrels per lot to 100 barrels per lot. I am told that I have been informed by email of the changes but searching (Amoungst the 90 emails from ODL since April) I can only find an email saying that Margin and Instrument changes will be happening. NO MENTION OF LOT CHANGES
Is it wrong to assume that for something as large as lot sizes to be changing that they couldnt make it a little more clear in an email?
Now I came to trade today and find I cannot enter trades. Oil has moved 15 points in 3 bars (IE not very much) but Metatrader is telling me that it accepts the order, then it prints a message "Off Quote". I tried 10 times to get into a position. The price action was hardly moving at all at this time!
Phoning them I am told I should be running TSII alongside MT4. I have no idea why or how my EA should work with that but the whole thing has become a joke. 45 minutes later Oil has moved 180 pips.
Is there anything I can do? I feel ripped off, angry and now have no confidence in there platform. I have spent countless hours wasting my time on their "Chat" portal.
Also can anyone recommend an MT4 broker that I can trade commodities on.
Rich
