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Tadawul FX (TDFX) Discussion

  • #201
  • Nov 6, 2010 8:04am Nov 6, 2010 8:04am
Quoting MetaCoder
I'm trying to get my arms around my Tadawulfx demo account parameters and whether they accurately represent how a live account would be set up. I requested a $3,000 mini demo yet it looks like it's a standard account. I emailed them and they stated it's a mini account, but the dollar value per tick and the 100,000 value being returned from the MarketInfo(Symbol(), MODE_LOTSIZE) call both indicate it's a standard account.

And sadly I'm not able to make any virtual money on the acount.

http://bobthoughts.net/Phantom_AddSix_03b_TADAWUL.htm...

They don't offer true micro lots. I guess if you wanted to be technical you could call this a "Hini Lot" (half mini lot)

Each increment must go up the same amount. They could make things much easier by allowing a true micro lot. (10 cent a pip)
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  • #202
  • Nov 8, 2010 6:26am Nov 8, 2010 6:26am
Quoting MetaCoder
I'm trying to get my arms around my Tadawulfx demo account parameters and whether they accurately represent how a live account would be set up. I requested a $3,000 mini demo yet it looks like it's a standard account. I emailed them and they stated it's a mini account, but the dollar value per tick and the 100,000 value being returned from the MarketInfo(Symbol(), MODE_LOTSIZE) call both indicate it's a standard account.

And sadly I'm not able to make any virtual money on the acount.

http://bobthoughts.net/Phantom_AddSix_03b_TADAWUL.htm...

Dear MetaCoder,

We tried contacting you today to clarify some of your questions in the post above, but the phone number and email address provided to us were wrong. If you can kindly contact us on Live Chat or write to [font=Calibri][size=3][color=#0000ff][email protected][/color][/size][/font] with your correct information, we would be very happy to assist you with your questions.

In the meantime, I can confirm that your demo account is in fact a Standard Account (not MINI). To create a Demo account with the same conditions as a Live Account, you need to register here: https://www.tadawulfx.com/private/index.php/demo where you can choose leverage, base currency and account type . It seems that your current Demo was opened in another way, and therefore this is why you got a Standard account (by default).

Best Regards,
  • #203
  • Nov 8, 2010 6:47am Nov 8, 2010 6:47am
Dear All,

I am pleased to announce that MONEYBOOKERS payment service is now available to all Tadawul FX clients as an additional option for making a deposit or a withdrawal to/from your trading account. Moneybookers is currently used by over 14.2 million people worldwide and allows you to send funds via instant banking, credit/debit card or ewallet, with great ease and high security.

As a special promotion, Tadawul FX covers all charges, so all the deposits are FREE until 31st December 2010.

Have a great day!

Best Regards,
  • #204
  • Nov 8, 2010 7:20am Nov 8, 2010 7:20am
Quoting TDFX
I would like to officially confirm that Tadawul FX does not use a Virtual Dealer Plug-in, and Tadawul FX is open to inspection of all aspects of its dealings and business to our external auditors and regulators as is required by law.
Many brokers have denied the use of virtual dealer plugin in the past, namely Gain Capital/Forex.com and Ikon GM

I don't know whether Tadawul use the virtual dealer plugin or anything similar in the settings of metatrader manager software used by brokers. And I doubt if you did that you would tell us here. Then again Kate, you may not even know as it could be in the knowledge of a select few in your brokerage. The sales people in Gain and Ikon did not seem to be aware of it either. It is suspicious when Tadawul regularly slip all pending orders and market orders to end of any spike. As well as requiring pending orders to be 15-30 pips from price. Ridiculous.
  • #205
  • Nov 8, 2010 9:03am Nov 8, 2010 9:03am
Quoting PipStar
Many brokers have denied the use of virtual dealer plugin in the past, namely Gain Capital/Forex.com and Ikon GM

I don't know whether Tadawul use the virtual dealer plugin or anything similar in the settings of metatrader manager software used by brokers. And I doubt if you did that you would tell us here. Then again Kate, you may not even know as it could be in the knowledge of a select few in your brokerage. The sales people in Gain and Ikon did not seem to be aware of it either. It is suspicious when Tadawul regularly slip all pending orders...
Dear PipStar,

As per my previous post, please note that Tadawul FX officially confirms not to use the Virtual Dealer Plug-in. This has been confirmed by management.

Also, please note that pending orders are generally set to 5 pips for most currency pairs, and a bit higher for exotics. To check the pending order levels, please follow these steps:
1) Login to Tadawul FX MT4 platform
2) Right click on “Market Watch”
3) Select “Symbols”
4) Select the instrument you are interested in
5) Click “properties” and then view the “Stops level” which is the same as a “pending order” level.

The only time Tadawul FX widens pending order levels is during significant economic news releases, for example NFP. You can read more here, under NEWS TRADING: http://www.tadawulfx.com/public/trading-conditions/trading-strategies.html.

Tadawul FX very rarely has any slippage with pending orders. Generally the only time this occurs is when there is a gap in the market. For example if the market closed on Friday at one price (eg. EUR/USD 1.3900) and reopened on Monday at a very different price (eg.EUR/USD 1.3800). If a pending order is set at EUR/USD 1.3890 for example, it is impossible to fill this order as this price does not exist in the market. In such situations, the pending order is filled at the next available price. Generally this is the case with most banks and forex companies.

I hope this clarified the matter regarding pending orders ?

If not, I would be happy to exlain further.

Kind Regards,
  • #206
  • Nov 14, 2010 2:29pm Nov 14, 2010 2:29pm
I've never had a 1 pip spread with tadawul, in fact their spreads seem to be a lot larger than the other brokers I've used, generally double if not more. Is there a reason for this? does geographical location make a difference.
  • #207
  • Edited 7:56am Nov 15, 2010 7:36am | Edited 7:56am
Quoting zortan
I've never had a 1 pip spread with tadawul, in fact their spreads seem to be a lot larger than the other brokers I've used, generally double if not more. Is there a reason for this? does geographical location make a difference.

Hi Zortan,

The geographical location makes no difference to the spreads you receive. The spreads you get depend on the type of an account you have (Mini, Standard or Premium.) To see the full list of spreads please click here: http://www.tadawulfx.com/public/trad...s/spreads.html

Generally speaking the spreads offered by Tadawul FX are in line with the spreads offered by its competitors. Sometimes, you might find that the spreads are a bit higher or lower. The reason for this is that Tadawul FX offers fixed spreads on all currencies, metals and CFDs on equities at all times. The spreads are fixed 24 hours a day and are never widened, even during the Asian trading session or economic news releases. Most of our competitors offer variable spreads, which might be lower during quite hours of the day, but get significantly higher than ours during economic releases, volatility in the market, or during the Asian session.

Tadawul FX has adapted a no spread widening policy to “minimize any bad surprises” caused by spread widening. Here are some of the reasons why we believe that fixed spreads give traders an advantage: http://bit.ly/bw2a9u

Best Regards,
  • #208
  • Nov 15, 2010 8:41am Nov 15, 2010 8:41am
On a demo standard account the spreads are on the majors are 1 more than listed on the site, are demo spreads different?
  • #209
  • Nov 15, 2010 10:09am Nov 15, 2010 10:09am
Quoting zortan
On a demo standard account the spreads are on the majors are 1 more than listed on the site, are demo spreads different?

Dear Zortan,

If you open a DEMO account by registering here: https://www.tadawulfx.com/private/index.php/demo you will get the same trading conditions and spreads as you would on the LIVE account. By completing the DEMO form you get to choose base currency, leverage, account type and deposit amount.

The spreads that are displayed on the charts are always for MINI accounts (this is set by default), and the spreads that are displayed in the MARKET WATCH are always in accordance with your account type (and as listed on the website). Please always refer to the spreads in the Market Watch as these are the exact buy/sell rates.

I hope this helps?

Best Regards
  • #210
  • Nov 15, 2010 3:50pm Nov 15, 2010 3:50pm
My Observations with TDFX so far.
1. Spreads are fixed as promised
2. A little high spreads compared to other brokers
3. Incoming wire fees too high(they said it was an intermediary bank but the highest I've seen so far with any broker)
4. Execution delays at times, makes me think they might have the famous "dealer plug-in" http://www.forexfactory.com/showthread.php?t=70582
5. I sent a few messages to their customer service, I got a reply after sending the message 2 times, so I assume one must've been lost. So customer service is lagging a little bit.
  • #211
  • Nov 16, 2010 2:43am Nov 16, 2010 2:43am
Quoting chitak
My Observations with TDFX so far.
1. Spreads are fixed as promised
2. A little high spreads compared to other brokers
3. Incoming wire fees too high(they said it was an intermediary bank but the highest I've seen so far with any broker)
4. Execution delays at times, makes me think they might have the famous "dealer plug-in" http://www.forexfactory.com/showthread.php?t=70582
5. I sent a few messages to their customer service, I got a reply after sending the message 2 times, so I assume one must've been lost. So customer service is lagging...
Hi Chitak,

Thanks for your feedback please see my comments below.
1. Correct
2. Please see my earlier post.
3. All Deposit are FREE (Tadawul FX covers all fees charged by our bank, PayPal and Moneybookers). Please note that when sending a bank wire transfer your bank will normally charge you a small fee, and another fee might be applied by an intermidiary bank. This is common bank practice worldwide and Tadawul FX does not have any control over this.
4. Please see my earlier posts.
5. I'm sorry to hear this. Tadawul FX Client Support replies to all emails as soon as possible. Their usual working hours are 9am to 6pm Monday to Friday, but you can also contact us via Live Chat 24 hours a day, Monday to Friday.

Have a great day!
  • #212
  • Dec 3, 2010 7:19am Dec 3, 2010 7:19am
How is everyone doing this busy month? I haven't heard from you guys for some time now.

I look forward to your comments.

Best Regards,

Kate
  • #213
  • Dec 9, 2010 7:29am Dec 9, 2010 7:29am
Kate,
Is Tadawul's demo feed a smoothed version of its live feed or is the demo feed identical to the live feed?
Swamper
  • #214
  • Dec 9, 2010 8:10am Dec 9, 2010 8:10am
Quoting swamper
Kate,
Is Tadawul's demo feed a smoothed version of its live feed or is the demo feed identical to the live feed?
Swamper
Dear Swamper,

The price feed on demo and live accounts is generally identical as it comes from the same liquidity providers.

Regards,
  • #215
  • Dec 10, 2010 2:30pm Dec 10, 2010 2:30pm
1 Pip spreads on EURUSD and USDJPY.Why are the spreads on DEMO 1 pip
but on my live account, they are 3 pips

--------------EDIT-------------
The spreads you get depend on the type of an account you have (Mini, Standard or Premium.) To see the full list of spreads please click here: http://www.tadawulfx.com/public/trad...s/spreads.html

I see
  • #216
  • Dec 10, 2010 4:04pm Dec 10, 2010 4:04pm
Quoting danqay
I did the same but my accurancy rate is about 80-90%
FYI demo = standard account spread, my live account on VPS London is a standard account meaning same spread for both accounts.

Cheers
  • #217
  • Dec 10, 2010 4:10pm Dec 10, 2010 4:10pm
Quoting TDFX
How is everyone doing this busy month? I haven't heard from you guys for some time now.

I look forward to your comments.

Best Regards,

Kate
Hi Kate

Is TDFX looking into creating a Debitcard facility such as IBFX ? If so anytime soon?

Thank you in advance for your reply.

Cheers
  • #218
  • Dec 13, 2010 7:43am Dec 13, 2010 7:43am
Quoting Pipstrumpf
Hi Kate

Is TDFX looking into creating a Debitcard facility such as IBFX ? If so anytime soon?

Thank you in advance for your reply.

Cheers


Hi Pipstrumpf,

Good to hear from you!

Tadawul FX does not have any plans to introduce this product in the near future, however we are a fast moving company so it might be a possibility next year.

Make sure to read our regular newsletters for the latest updates about new developments and also participate in any surveys that are carried out. The more feedback we get, the better equipped we become at meeting our clients’ needs.

Many thanks Pipstrumpf!

Kind Regards,
  • #219
  • Dec 17, 2010 2:47pm Dec 17, 2010 2:47pm
Hi Kate

I wonder if Tadawulfx can offer an MT4 platform for the iPhone. Fxpro is already offering it (have a look at their website). I have an iPhone and want to trade from it. However, I haven't managed to install the MetaTrader4 platform for mobilephones and smartphones on my iphone so therefore I can't trade using my iPhone. When will Tadawulfx introduce its iTrader? The product itself exists already...

I live in Switzerland. Can I visit the Swiss office being a costumer with a live account? Do they trade there or is this just a back office?

Tadawulfx is ALWAYS emphasising being a SWISS broker as well, but why dear Kate can I as a Swiss citizen living in Switzerland NOT transfer money to a SWISS bank but have to transfer the money to Eurobank in Cyprus (never heard of this bank before!!!!)... just wonder why...?

Best and thanks in advance :-)
  • #220
  • Dec 22, 2010 3:16am Dec 22, 2010 3:16am
Quoting korporal
Hi Kate

I wonder if Tadawulfx can offer an MT4 platform for the iPhone. Fxpro is already offering it (have a look at their website). I have an iPhone and want to trade from it. However, I haven't managed to install the MetaTrader4 platform for mobilephones and smartphones on my iphone so therefore I can't trade using my iPhone. When will Tadawulfx introduce its iTrader? The product itself exists already...

I live in Switzerland. Can I visit the Swiss office being a costumer with a live account? Do they trade there or is this just a back office?...

Hi Korporal,

Thank you for your comments.

Tadawul FX has plans to introduce iphone and blackberry trading applications next year. As soon as I know the launch date, I will officially announce here on the forum and also via the regular Newsletter we email to clients. Currently Tadawul FX offers mobile trading for Windows mobile smartphones. Please let us know if you are having trouble installing the smartphone application on your phone by sending an email to [font=Calibri][size=3][color=#0000ff][email protected][/color][/size][/font] or your personal Account Manager with as much information as possible, and one of my colleagues will be gald to assist you.

You are more than welcome to come visit us in our Head Office in Cyprus, as this is where most of our operations are based, including Sales, Back Office, Treasury, Marketing, etc. Our office in Switzerland primarily deals with IT and development aspects of the business and does not generally deal with clients. If you happen to be in Hungary sometime, you are also welcome to visit our office there.

Tadawul FX is a Swiss founded company, and in 2008 it relocated its Head Quarters to European Union (Cyprus). As most of company operations are now held in Cyprus, a decision was made (based on European laws and regulations) to also change our banking procedures from Swiss banking to European banking. This is the main reason of why we no longer work with Swiss banks, but rather European banks, all of which we find to be very adequate for our clients safety and security.

Kind Regards,
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