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Tadawul FX (TDFX) Discussion

  • #81
  • Jul 8, 2010 10:39pm Jul 8, 2010 10:39pm
Quoting TDFX
Starting today, Friday 18th June, the PayPal fees have been reduced from 3.00% to 1.9% for all transactions.
So you still charge for deposits? It's not good enough. There should be no fee for deposits.

Recently I funded an account with IKON GM via PayPal, and the exact amount that I transferred from PayPal was credited to my trading account.

When I fund my LiteForex or EXNESS accounts via Liberty Reserve, I get the exact amount that I transferred from Liberty Reserve credited to my trading accounts.

How about opening a UK branch? It would make deposits and withdrawals much cheaper if your brokerage has a UK bank account. It would also attract more business, because some consider a Cyprus business to be not as safe to work with as a UK business, especially given the reputation of other Cyprus based brokers (e.g. Prime4x).
  • #82
  • Jul 9, 2010 2:03am Jul 9, 2010 2:03am
Quoting goods
Kate this is what I am looking for.

https://www.thinkorswim.com/tos/disp...ayFormat=hide#


AUD/CAD
AUD/CHF
AUD/CZK
AUD/DKK
AUD/JPY
AUD/NOK
AUD/NZD
AUD/PLN
AUD/SEK
AUD/SGD
AUD/THB
AUD/USD
AUD/ZAR
CAD/CHF
CAD/DKK
CAD/JPY
CAD/NOK
CAD/PLN
CAD/SEK
CAD/SGD
CHF/CZK...

Hi Goods,

That’s a lot of pairs to trade! I hope you are not trading them all at once? Not only are they generally very volatile but also trading more than 5 exotics at once is extremely risky for any trader. TDFX offers many of the pairs you mentioned above and continues to add more as time goes on, so regularly check in with us for the latest updates.

All the best!
  • #83
  • Jul 9, 2010 2:22am Jul 9, 2010 2:22am
Quoting extradeath
Hi kate

Nice work!!!! You made offensive people to be defensive. woooow

BUT u didn't reply to my inquiry.... is this because I'm always defensive loool

Can we trade the CNY or no?????

best Regards



My plan is to be helpful to all.

About CNY... The Chinese Government restricts the trading of the CNY at the moment and therefore it is not available to be trade on spot, only as NDF (non deliverable forward).
  • #84
  • Jul 9, 2010 2:44am Jul 9, 2010 2:44am
Hi Kate,


It better to make TDFX broker be the best, than just move to other broker
So guys keep posting any suggesting and input for TDFX.

Hopefully that can make TDFX better and better.

any response on my statement?



Kind regards,
  • #85
  • Jul 9, 2010 4:01am Jul 9, 2010 4:01am
Quoting legolass
Hi Kate,


It better to make TDFX broker be the best, than just move to other broker
So guys keep posting any suggesting and input for TDFX.

Hopefully that can make TDFX better and better.

any response on my statement?



Kind regards,

Hi Legolass,

I completely agree with you!

As for your query, I have passed the information to the management so they will look into it.
  • #86
  • Jul 10, 2010 8:22pm Jul 10, 2010 8:22pm
Quoting legolass
It better to make TDFX broker be the best, than just move to other broker
So guys keep posting any suggesting and input for TDFX.
Hopefully that can make TDFX better and better.
any response on my statement?
Kind regards,
Tadawul are far from bring the best and part of the reason is here copied from their website:

Tadawul FX aims to offer the best rates and execution available at any given time, regardless of the market conditions. As a preventive measure and an additional step to minimize the possibility of slippage, TDFX will widen new pending orders levels to 15-30 pips 5 minutes prior to and 1 minute post major economic news releases. The degree to which the levels are increased is based on the projected movements of the markets and the potential effects that these movements can create.

Have you ever seen a broker who widens pending orders 15-30 pips to prevent slippage? So they slip your order up to 30 pips to prevent slippage
  • #87
  • Jul 11, 2010 1:23am Jul 11, 2010 1:23am
So no news trading with them.
Attached Image (click to enlarge)
Click to Enlarge Name: TDFX news trading.png Size: 63 KB
  • #88
  • Jul 11, 2010 1:40am Jul 11, 2010 1:40am
Quoting mattrader
So no news trading with them.
No. And the worse part is that Tadawul seems to think that us traders are stupid. They allow news trading but at the same time put measures in place like 15-30 pips slippage to make sure that you are never able to benefit from a good entry price. In fact, you will get a bad fill every single time and make a loss.
  • #89
  • Jul 11, 2010 1:59am Jul 11, 2010 1:59am
Quoting PipStar
No. And the worse part is that Tadawul seems to think that us traders are stupid. They allow news trading but at the same time put measures in place like 15-30 pips slippage to make sure that you are never able to benefit from a good entry price. In fact, you will get a bad fill every single time and make a loss.
It is completely a joke saying "Tadawul FX supports news trading due to its ability to offer fixed spreads 24 hours a day. Clients can be assured that TDFX will not widen spreads or freeze rates."
  • #90
  • Jul 11, 2010 7:37am Jul 11, 2010 7:37am
Hi Kate,

there's suggestion and input from pipstar, about news trading.

honestly TDFX for the moment is not good place to trading news.
broker with commission (ECN) is the right one for trading news.

we can help for broker widen spread during news.

but because i'm not a news trader, TDFX still give the good service and the deposit and withdrawal is fast.

TDFX still growing (4 years old) for me TDFX have a lot of room to do more improvement.


I hope with next currenex platform will be good for news trading, and there will be commission type account.


Kind Regards,
  • #91
  • Jul 11, 2010 8:11am Jul 11, 2010 8:11am
Quoting TDFX
Hi Goods,

That’s a lot of pairs to trade! I hope you are not trading them all at once? Not only are they generally very volatile but also trading more than 5 exotics at once is extremely risky for any trader. TDFX offers many of the pairs you mentioned above and continues to add more as time goes on, so regularly check in with us for the latest updates.

All the best!
Hi Kate although I know it is alot of pairs and I dont trade them all at once haha. I keep one trade open at a time and I keep maybe one trade going for a day or two. However, alot of times the right setups are not in place and some of the wacky exotic trades are absolutely no brainers whatsoever. I can see why people dont want to offer them because brokerages do not want to lose against these no brainer trades.
Know when to hold em, Know when to fold em!
  • #92
  • Jul 11, 2010 8:13am Jul 11, 2010 8:13am
Quoting legolass
Hi Goods,

Wow that many, i only trade some pair with small spread and high daily range...i trade 1 or 2 pair to make me focus.

Exotic pair is very danger and have very big spread.

I think TOS (forex) is market maker, right?


Kind Regards,

Hey leo yes like you I dont trade all that at once, I like the options available though. Some of those pairs you look at a chart and can literally jump in with minimal draw down I mean they are just slow moving easy uptrends of downtrends, pullbacks super minimal, does not take alot to think about your entry. I only trade one at a time. Yes TOS is a MM.
Know when to hold em, Know when to fold em!
  • #93
  • Jul 12, 2010 4:03am Jul 12, 2010 4:03am
Quoting PipStar
Tadawul are far from bring the best and part of the reason is here copied from their website:

[i]Tadawul FX aims to offer the best rates and execution available at any given time, regardless of the market conditions. As a preventive measure and an additional step to minimize the possibility of slippage, TDFX will widen new pending orders levels to 15-30 pips 5 minutes prior to and 1 minute post major economic news releases. The degree to which the levels are increased is based on the projected movements of the markets and the potential...


PipStar

Please note that Tadawul FX operates based on values of Honesty, Clarity and Transparency. Tadawul FX also covers ALL clients’ trades in the real market, which is not the case with most forex companies in the market. For these very reasons the information stated on our website is not something you will find on other sites because it demonstrates that TDFX is honest, transparent and realistic about market conditions and execution.

Tadawul FX has a significant amount of news traders who very rarely experience slippage. Nonetheless, markets can and do behave unpredictably at times, and slippage or gaps in the markets are inevitable. This applies when you trade under real conditions, whether you are trading with TDFX or any large international bank. Slippage is slippage, and gaps are gaps, regardless of who you are. As Tadawul FX follows best business practices, it informs its clients of such conditions and advises to take caution while news trading. It also carries out additional measures by minimizing risk exposure of its clients while news trading.

Not to point fingers, but if a broker never has slippage/gaps then it usually means one of the following:
1) The broker is a market maker and therefore makes its own prices.
2) The broker offers variable spreads which it widens accordingly to the market news releases, this can well be over 70 pips.
3) The broker does not allow news trading.

Keep in mind that TDFX offers FIXED spreads at all times (unlike most brokers) and only increases new pending order levels for some major news releases (not all), and only 5 minutes prior to the releases.

These risk management strategies were well thought through prior to application and are generally accepted and favored by our professional news traders.

Kind Regards,
  • #94
  • Jul 12, 2010 4:43am Jul 12, 2010 4:43am
Quoting TDFX
Keep in mind that TDFX offers FIXED spreads at all times (unlike most brokers) and only increases new pending order levels for some major news releases (not all), and only 5 minutes prior to the releases.

These risk management strategies were well thought through prior to application and are generally accepted and favored by our professional news traders.
"favored?" Are these "risk management strategies" implemented for your benefit or the traders' benefit? Please explain clearly without twisting the facts and carefully choosing words to make it sound like it's only for the traders' benefit when it may not be.
  • #95
  • Jul 12, 2010 5:23am Jul 12, 2010 5:23am
Quoting TDFX
These risk management strategies were well thought through prior to application and are generally accepted and favored by our professional news traders.
Who are the professional news traders who 'accepted and favored' that you increase pending order levels to 15-30 pips at news time? I can't see that you asked your clients and that a majority favoured such a move? Anyway, let's ask the traders here and see whether they agree:

Is anyone in favour of Tadawul increasing pending order levels to 15-30 pips 5 minutes prior to news time? In which case you are certain to incur up to 30 pips slippage.

I say NO.
  • #96
  • Jul 12, 2010 7:10am Jul 12, 2010 7:10am
Quoting Hyper
"favored?" Are these "risk management strategies" implemented for your benefit or the traders' benefit? Please explain clearly without twisting the facts and carefully choosing words to make it sound like it's only for the traders' benefit when it may not be.
Hi Hyper,

“Favored” when compared to alternatives I mentioned above. Strictly speaking, every trader is different, works at different times, with different methods, has different approach to risk, etc. Every broker and bank has its pros and cons and what might work for you might not work for someone else, and vice versa. Most traders accept that news trading carries a higher degree of risk and is more unpredictable compared to day trading during the quite hours. Volatility in any market increases instability and unpredictability and should be approached with caution. As I mentioned earlier, slippage and gaps in the market are real, so unless you are trading with a market maker you will probably experience them one time or another. To avoid slippage or gaps it would be advisable to either trade with a market maker that guarantees no slippage or not trade during the news at all. If you are a news trader however, then you must choose a company that works best with your trading methods, approach to risk, psychology etc. The choice remains yours.
  • #97
  • Jul 12, 2010 7:28am Jul 12, 2010 7:28am
Hi Kate,

I need your confirmation, about FSA register.

I compare TDFX and FXPRO, both are based on Cyprus and regulated by Cysec.

1. Fxpro
http://www.fsa.gov.uk/register/firmR....do?sid=196534

2. TDFX
http://www.fsa.gov.uk/register/firmR....do?sid=235395

Why TDFX in regulator only said Cysec, but Fxpro have two regulator which is Cysec and FSA.


Kind Regards,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fxpro FSA.png Size: 44 KB
Click to Enlarge Name: Tadawul FSA.png Size: 39 KB
  • #98
  • Jul 13, 2010 3:11am Jul 13, 2010 3:11am
Quoting legolass
Hi Kate,

I need your confirmation, about FSA register.

I compare TDFX and FXPRO, both are based on Cyprus and regulated by Cysec.

1. Fxpro
http://www.fsa.gov.uk/register/firmR....do?sid=196534

2. TDFX
http://www.fsa.gov.uk/register/firmR....do?sid=235395

Why TDFX in regulator only said Cysec, but Fxpro have two regulator which is Cysec and FSA.


Kind Regards,

Hi Legoless,

That’s a very good point! Thanks for bringing this up.

I have contacted FSA to inquire about this and they advised that there appears to be a mistake and “Financial Services Authority” should not appear under “Regulator Name” for either of the companies as the companies are registered with but not regulated by FSA. They advised they are looking into this and will correct shortly. I will keep you updated as soon as I hear more from them.

Many thanks!
  • #99
  • Jul 13, 2010 8:07am Jul 13, 2010 8:07am
Hi Kate,

Thank you for your explanation.

Cysec must improve it credible so broker regulated by them will be respected and trusted.

link article about cysec.
http://blogs.fxstreet.com/francesc/2...ou-waiting-for


Kind Regards,
  • #100
  • Jul 15, 2010 12:10am Jul 15, 2010 12:10am
Hi Kate,

TDFX need more information and education about CFDs in it's website, not just forex

Thanks,
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