Virtual Dealer Plugin - How many seconds does your broker take to execute your trade? | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Virtual Dealer Plugin - Brokers Please read 143 replies

Virtual Dealing Desk Plugin: Metaquotes Presentation PDF 3 replies

IKON GM fined for using Virtual Dealer Plugin 12 replies

Can a broker execute a market order 1 minute 11 seconds after one clicked the price?? 23 replies

Dealer Desk Vs Non Dealer Desk 9 replies

Virtual Dealer Plugin - How many seconds does your broker take to execute your trade?

  • #1
  • First Post: Jul 10, 2010 10:08pm Jul 10, 2010 10:08pm
The use of a plugin to delay orders is not restricted to MT4 brokers only.
It is just as easy for other brokers who have their own proprietary platform to have their own form of the virtual dealer plugin. I believe many brokers MT4 and non MT4 use this virtual dealer plugin.

IBFX appears to be the only one so far to have officially stated that they don't use it. Trades on their platform take 1 second or less. Although I am always skeptical regarding brokers, I have to believe them so far when they say they don't use the plugin and that's only because trades show up in my journal always executed in 1 second.

I think traders can find out by themselves which brokers are using the virtual dealer plugin. Look in the journal on your metatrader platform and find out who takes more than 1 second to execute a trade. Any broker who consistently shows like 2 seconds or more to execute a trade is more than likely using the virtual dealer plugin to delay trades. And brokers always deny using it until they get caught.

It would be interesting if people could post the name of their broker and the amount of seconds these brokers take on average to execute a trade. May be we could catch the virtual dealer plugin brokers ourselves or at the very least put them on the spot.
  • #2
  • Jul 11, 2010 2:16pm Jul 11, 2010 2:16pm
Quoting PipStar
The use of a plugin to delay orders is not restricted to MT4 brokers only.
It is just as easy for other brokers who have their own proprietary platform to have their own form of the virtual dealer plugin. I believe many brokers MT4 and non MT4 use this virtual dealer plugin.

[color=black][font=Verdana][size=2]IBFX appears to be the only one so far to have officially stated that they don't use it. Trades on their platform take 1 second...
Actually I don't think determining this is that simple. I use FXDD, and sometimes during the catch all "fast market conditions" execution is delayed. At some news releases, they won't execute orders at all. But during "normal" market times execution is virtually instant. So, are they using the plug in? I don't know; not sure you can know. They don't need the plug in to reject or requote orders at news for example.

Maybe they possess it and use it selectively; sometimes employing it and sometimes not. Point is, I don't think it's just a black and white scenario where you'll be able to know for sure. Either way, what matters to me is getting the execution I want, plug in or not. So for FXDD for example, I know I can count on great execution during normal conditions, but that's it's more of a crapshoot during fast markets. So for me, that's a workable situation even if they do use the plug in at times.

As for IBFX, I personally will never trust them no matter what. I regard them as the poster child for bucketshops, but if they work for you or anyone else, then great...
  • #3
  • Jul 11, 2010 10:36pm Jul 11, 2010 10:36pm
Quoting TC East
As for IBFX, I personally will never trust them no matter what. I regard them as the poster child for bucketshops, but if they work for you or anyone else, then great...
I don't particularly trust IBFX either but I used them as an example of a broker that seems to execute trades in 1 second.

In my first post on this thread I said this: "Any broker who consistently shows like 2 seconds or more to execute a trade is more than likely using the virtual dealer plugin to delay trades". So the word 'consistently' here is key in determining whether that broker may be using a plugin. This would include a broker that takes 2 or more seconds to execute a trade at news as well as during normal markets.

Yes, FXDD gives instant execution during normal markets and 'off quotes' during news time. But I believe that they just shut down their platform at news compared to actually using a plugin that delays execution.
  • #4
  • Jul 12, 2010 5:05am Jul 12, 2010 5:05am
Quoting PipStar
I don't particularly trust IBFX either but I used them as an example of a broker that seems to execute trades in 1 second.

In my first post on this thread I said this: "Any broker who consistently shows like 2 seconds or more to execute a trade is more than likely using the virtual dealer plugin to delay trades". So the word 'consistently' here is key in determining whether that broker may be using a plugin. This would include a broker that takes 2 or more seconds to execute a trade at news as well as during normal markets.

Yes, FXDD gives...
Ok yes I understand what you're saying. Based on that then, I'd say FXDD is not using the plug in. In general, I've been happy with their execution; I just never forget they are still a bucketshop. But in my opinion the best of the buckets...
  • #5
  • Jul 12, 2010 6:49am Jul 12, 2010 6:49am
At FXClearing I was getting around 6 or 7s execution duration for every order.
At Prime4x I was getting around 4s execution duration.
At Interbank FX and FXDD I was getting under 1s execution duration.
At FOREX.com I get around 1.5s execution duration.
At Alpari UK I get between 1 and 2s execution duration.
At LiteForex I get anywhere between 5s to over 30s execution duration.
  • #6
  • Jul 13, 2010 5:02am Jul 13, 2010 5:02am
Depending on market conditions, there is more delay in fast markets:
Go Markets - 7 to 8 seconds for execution
TadawulFX - 10 to 15 seconds for execution
  • #7
  • Edited Jul 14, 2010 6:08am Jul 13, 2010 10:15pm | Edited Jul 14, 2010 6:08am
Quoting PipStar
Depending on market conditions, there is more delay in fast markets:
Go Markets - 7 to 8 seconds for execution
TadawulFX - 10 to 15 seconds for execution
So lets get this straight? anytime a broker has a delay they're using VD plug-in?? i don't agree with this message.

This is what makes me laugh.... I use Go Markets I don't get delays, my mates use them and no delays so are we so special that they turn it off for us and delay everyone else? what a load of rubbish..........

I would advise anyone having delay issues to check there bloody connection then call your broker! not come on FF and add to the rubbish about brokers cheating you

If every client had issues I would think yeh maybe your on to something.... but no, I don't as I use adsl+2 and what you do you know I have no problems, surprise surprise.

Please guys, if you have solid evidence yeh, but just cuz u have delays don't mean people are cheating you. I would say look at your own internet and connection before you cry wolf.

cheers
  • #8
  • Jul 13, 2010 11:26pm Jul 13, 2010 11:26pm
Quoting >Apocalypto<
I use Go Markets I don't get delays, my mates use them and no delays so are we so special that they turn it off for us and delay everyone else? what a load of rubbish..........
So your orders get executed in 0ms?

We are fighting for better execution in this brokerage industry. Why would you, as a trader, not support that?
  • #9
  • Jul 14, 2010 5:55am Jul 14, 2010 5:55am
Quoting Hyper
So your orders get executed in 0ms?
yes they do 99% of the time, this is why i think it's a dumb thread. I make sure I have great net.

Quote
We are fighting for better execution in this brokerage industry. Why would you, as a trader, not support that?

Buddy, think about it you really think decent to good brokers would delay you on purpose? Why so you will go on the net and hammer their reputation? Sure some little unregulated bucket shops out there will do it, but real businesses trying to be around for more then 10 years, I don't think so. The FX biz is so cut throat so premier service is all they have.

Don't get caught up in this VD rubbish. I have asked Go about this and they said no they don't use it so I believe them.

Concentrate on consistent profitable trading.

Cheers,
  • #10
  • Jul 14, 2010 6:24am Jul 14, 2010 6:24am
Quoting >Apocalypto<
yes they do 99% of the time, this is why i think it's a dumb thread. I make sure I have great net.
It's theoretically impossible to truly have executions done in 0ms, even if your trading terminal is in the GoMarkets data center in New Zealand.


Quoting >Apocalypto<
Buddy, think about it you really think decent to good brokers would delay you on purpose?
Are FOREX.com a "decent to good broker"? The NFA finding revealed that they do use the Virtual Dealer Plugin and set the artificial delay to 1s.
  • #11
  • Jul 14, 2010 6:53am Jul 14, 2010 6:53am
Quoting Hyper
It's theoretically impossible to truly have executions done in 0ms, even if your trading terminal is in the GoMarkets data center in New Zealand.
Hyper, when i press buy or sell that second it's a live trade. There's no delay is that clear enough for you?

I suggest you go a little more homework as they now have data centres in, Sydney, Melbourne and Singapore!

Quote
Are FOREX.com a "decent to good broker"? The NFA finding revealed that they do use the Virtual Dealer Plugin and set the artificial delay to 1s.
I would not touch them with a 10 foot pole, I have always placed Gain in the FXCM Muppet group, Go are miles above them. Now if you want to live your life in the conspiracy world of cheating brokers then go for it. I can only post of real life experiences I know first hand.

If these issues happened and effected me I would not trade with them as a 6-8 sec delay would cause me to loss a lot of profit, or a fair chunk. I trade with them cuz they have great execution and their spreads are very good. I also trade with Interactive Brokers for my CL trading ( Oil ), IB have FX but I choose to do 90% of my FX trading with Go markets......

I like to concentrate on trading well, not the conspiracy of brokers out to get me.

Cheers,
  • #12
  • Jul 14, 2010 7:10am Jul 14, 2010 7:10am
Quoting >Apocalypto<
when i press buy or sell that second it's a live trade. There's no delay is that clear enough for you?
You are clearly not technically minded if you think that your orders get executed in no time at all. Any network communication (both internet and internal data center network) takes a small amount of time. Every CPU operation takes a small amount of time. A lot of things need to happen for a trade to get executed, and they all cannot be done in under 1 microsecond that you claim to experience.


Quoting >Apocalypto<
Now if you want to live your life in the conspiracy world of cheating brokers then go for it.
If you've ever been short-changed by 70K USD by a broker like I have, then you might believe that there certainly is a "world of cheating brokers". I guess you've only ever traded at the few squeaky clean brokers in existence, so have never truly experienced the dodgy behavior of a lot of other brokers.
  • #13
  • Jul 14, 2010 7:45am Jul 14, 2010 7:45am
Quoting Hyper
You are clearly not technically minded if you think that your orders get executed in no time at all. Any network communication (both internet and internal data center network) takes a small amount of time. Every CPU operation takes a small amount of time. A lot of things need to happen for a trade to get executed, and they all cannot be done in under 1 microsecond that you claim to experience.
Do i have to be to make money? No I have to trade well that's it. like I said I hit buy or sell BANG it's live. Hence I have nothing to complain about. I never said 1 microsecond that's your number. I don't look at it as it's done that quick it's never been an issue for me, please get this through your head!

Quote
If you've ever been short-changed by 70K USD by a broker like I have, then you might believe that there certainly is a "world of cheating brokers". I guess you've only ever traded at the few squeaky clean brokers in existence, so have never truly experienced the dodgy behavior of a lot of other brokers.
I am sorry to hear about your loss. And I can't imagine how that would feel.

I am sorry but based on you experience I don't believe you can make objective posts without feeling all brokers are cheats. ( I understand where that comes from) So I am unable to discuss this anymore with you.

I hope you can, as this is a public form. I think it's important to share your experience but it's not right if you come in and paste that experience on all brokers.

Cheers, and I hope you get some to all of your funds back.

** back to the topic***

just cuz you have slow execution you can't say it's a VD plug-in and they're cheats. I think a lot of people blame brokers for what ever they can to justify their crappy trading.

Like i have always said if you have an issue call your broker for help or check your internet! If no resolution can be found move on to a new broker.

Cheers
  • #14
  • Jul 14, 2010 8:08am Jul 14, 2010 8:08am
No one including me can tell for sure which broker is using the virtual dealer plugin but if a broker delays execution this does arouse some suspicion. We hear that some people who are position traders claim to get good execution from a particular broker whereas scalpers say they get delayed. I think that we should all respect each other's opinion and especially individual experiences live trading with each broker. That's why i asked if traders could post how many seconds their broker takes so we can compare what type of execution each of us is getting.

If someone had said a few weeks ago that Gain were using the virtual dealer plugin there would have been a rush of many sceptics here saying that they believe they get good execution from Gain. Some traders may well have asked Gain about this matter but every broker denies it. Yet Gain was found by NFA to be using the virtual dealer plugin.

So, I am not looking for only bad experiences with delayed execution brokers but i also want to know who gives good execution. So, please let us know how many seconds your broker takes to execute your trade.
  • #15
  • Jul 14, 2010 8:25am Jul 14, 2010 8:25am
Lively discussion I think there are good points made by all actually. I agree that keeping the focus on trading well should be the primary thing. Learning how to trade is the hard part, but once that's handled, finding a halfway decent broker isn't that difficult.

However, unlike stocks and futures, many forex brokers do have a direct conflict of interest with clients, and many traders have been hurt by that. For me, I am profitable (not hugely so right now, but still on the plus side), but I still get really ticked when I think I've been subjected to a broker trick.

For example, I have an FXCM account, and I'm convinced I get slipped about 1/4 to 1/2 a pip every entry and exit. Slipped to the bad not good. I have no way to prove it, but I'm convinced it occurs. And if you think about it, that would be a huge cash cow for them if it is occurring. They probably just figure most traders won't notice, or will write it off as normal. So why don't I leave? Well, they have their good points too, so I guess I'm just taking the good with the bad. But understandable to me that this is a sensitive issue.

Ok, well sorry for the rant and ramble...
  • #16
  • Jul 14, 2010 9:31pm Jul 14, 2010 9:31pm
Quoting TC East
For example, I have an FXCM account, and I'm convinced I get slipped about 1/4 to 1/2 a pip every entry and exit. Slipped to the bad not good.
Slippage always in favour of the broker but never in favour of the trader. That's exactly why Gain was charged by the NFA except in the case of Gain it was 2 pips slippage. Regarding FXCM its common knowledge that they slip you 1/4 to 1/2 pip every entry and exit and it could even be more if you use at best or allow for a set deviation of a few pips on your tradestation.
  • #17
  • Jul 14, 2010 10:21pm Jul 14, 2010 10:21pm
Quoting PipStar
Slippage always in favour of the broker but never in favour of the trader. That's exactly why Gain was charged by the NFA except in the case of Gain it was 2 pips slippage. Regarding FXCM its common knowledge that they slip you 1/4 to 1/2 pip every entry and exit and it could even be more if you use at best or allow for a set deviation of a few pips on your tradestation.
Hmmm...well didn't think it was common knowledge, but something I was noticing over time, but also something impossible to prove. Well anyway as I was saying, I think in the world of forex brokers, it's a trade off, and taking the good with the bad is just a reality it seems...
  • #18
  • Jul 15, 2010 8:30am Jul 15, 2010 8:30am
Quoting PipStar
Regarding FXCM its common knowledge that they slip you 1/4 to 1/2 pip every entry and exit...
Common knowledge....proof please? The FX Trading Station II has historical bid/ask charts which you can compare your executed trade against to view any slippage. Every order on NDD execution is being filled against actual liquidity available from the 10 banks quoting on the platform, so slippage can occur. Traders have control over slippage on market orders by setting the order type to either market range or at best for order execution. If you want absolutely 0 slippage, then set Market Range = 0. Naturally, there is a trade off been execution certainty and slippage as you constrict the prices you are willing to accept, and trading in volatile market conditions will increase the chances of slippage since liquidity is lower.
  • #19
  • Jul 15, 2010 8:36am Jul 15, 2010 8:36am
most broker probably use it.

the few that don't probably are fxopen, ibfx, and a couple more.
  • #20
  • Jul 16, 2010 2:50pm Jul 16, 2010 2:50pm
Quoting Jason Rogers
Common knowledge....proof please?
Maybe this is the proof?

http://www.forexfactory.com/showthread.php?t=246069
0 traders viewing now