Have brokers improved their performance? | Forex Factory

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Have brokers improved their performance?

  • #1
  • First Post: Edited 8:52pm Dec 20, 2010 8:44pm | Edited 8:52pm
I received a solicitation call from FXCM This evening. The rep was pleasant and clear spoke. He asked me if I had any questions. Well Of course I do and since he called me I cracked the whip!

The simple sum of the conversation context was execution, platform failures. He assured me that the current FXCM model does not trade against clients nor manipulate price feed. " A True STP Process" he said. They are big enough and have enough liquidity providers to level the playing field and take it ALL.

Now I have 3 live SpotFx accounts: 1) MB 2)Oanda 3)IBFX

I have had no problems with MB So one could assume they are a real deal ECN

I at this time have had no problems with IBFX No slips, No requotes,misquotes etc. etc. Has IBFX actually cleaned up the act, because I remeber just a year ago they were horrible with requotes to say the least

As for Oanda well they are the old shoe in the corner nothing new nothing old same old same. Good, Bad and Ugly at any random time.

My main concept here for this thread is : have things changed for the better with the Spot Brokers behavior towards traders?

I left spot a bit over a years ago when it was at it's height of scamalogical stupidity
And now back at Spot trading for a good 45 days.

Please enlighten me if I've been bedazzled by the wizzard behind the curtain.

Oh and please keep this focused on actual current good or bad experiences with these brokers It's the right now I'm most concerned with Not as the market was before.

I do know that each of these named brokers do have individual threads , however the true context here is regarding the revelation of long standing broker behavior right now as a new unified approach to our provided tyrading environment.

And NewBies... please spare us the drama of your complaints that are spawned of nothing more than your lack of experience with trading that truly bears nothing to do with the point here.

Thanks,
Anthony
"Look Left Think Right"
  • #2
  • Dec 20, 2010 9:41pm Dec 20, 2010 9:41pm
The market is most certainly advancing technologically.

The thing to remember is, just because you don't see it doesn't mean it doesn't happen.

Tricks are getting a bit less obvious these days, and 'true' ecn does not mean ECN anymore.

With your list of brokers above, you are probably safest of all, but in the end, there are still market makers listed. And even if they have an ECN platform, the question is, if you are profitable on their market maker platform do they request you move to the ECN?

If they do not do this, in my opinion, they are less likely to be a true ecn. Because realistically its the only way to make money off a profitable client.
  • #3
  • Dec 20, 2010 10:07pm Dec 20, 2010 10:07pm
Quoting CurrencyAnalyst
Now I have 3 live SpotFx accounts: 1) MB 2)Oanda 3)IBFX
I have had no problems with MB So one could assume they are a real deal ECN
I at this time have had no problems with IBFX No slips, No requotes,misquotes etc. etc. Has IBFX actually cleaned up the act, because I remeber just a year ago they were horrible with requotes to say the least
As for Oanda well they are the old shoe in the corner nothing new nothing old same old same. Good, Bad and Ugly at any random time.
My main concept here for this thread is : have things changed for the better...
Things have not changed and if they have it certainly is not for the better. I assume you are not trading during volatile times so that's the reason you dont get slippage, requotes etc. from any of these brokers.
If you fire a market order none of these brokers will requote because their system fills 'At Best' and that includes FXCM MT4. For Oanda and FXCM tradestation where you can set maximum slippage you will just not get filled in fast markets. What you will get though is big slippage if your order is just at market.
  • #4
  • Dec 21, 2010 8:35am Dec 21, 2010 8:35am
Quoting CurrencyAnalyst
I at this time have had no problems with IBFX No slips, No requotes,misquotes etc. etc. Has IBFX actually cleaned up the act, because I remeber just a year ago they were horrible with requotes to say the least


Thanks,
Anthony
How about "Trade Context busy" and "Price off-quote" and "Ping failed"?

To this day I still get these errors on a demo acct.

The other thing I hated about IBFX when I left was the mailbox melodrama about some stupid "lesson" they are trying to teach. Every freakin 15 min the mailbox is crammed full of worthless junk.
  • #5
  • Dec 21, 2010 12:47pm Dec 21, 2010 12:47pm
Quoting pip_seeker
How about "Trade Context busy" and "Price off-quote" and "Ping failed"?

To this day I still get these errors on a demo acct.

The other thing I hated about IBFX when I left was the mailbox melodrama about some stupid "lesson" they are trying to teach. Every freakin 15 min the mailbox is crammed full of worthless junk.
Oh yeah I forgot about the email deal, Yes they sent the same email's over and over. As far as the Trade context busy, Price-off quote,Ping failed No I have not had any of those.
"Look Left Think Right"
  • #6
  • Dec 21, 2010 12:58pm Dec 21, 2010 12:58pm
Something New I have considered about FXCM is now that they are a public traded company On the NYSE. Any deceptive behavior and actions that make way to media attention could indeed hurt the stock value. Could that in and of itself be the subliminal edge of what we traders might consider a protective layer?

Another words- "They Now Have The Power To Literally Screw themselves"
*Just a thought out loud.*
"Look Left Think Right"
  • #7
  • Dec 22, 2010 4:57am Dec 22, 2010 4:57am
Quoting CurrencyAnalyst
Something New I have considered about FXCM is now that they are a public traded company On the NYSE. Any deceptive behavior and actions that make way to media attention could indeed hurt the stock value. Could that in and of itself be the subliminal edge of what we traders might consider a protective layer?

Another words- "They Now Have The Power To Literally Screw themselves"
*Just a thought out loud.*

Doesn't really matter even a big company can fail.

Sincerely Enron, Lehman bros. etc.

Theyareinbusiness-tomakemoney.com most if not all will do it anyway they can... cheat, steal, lie, make / break promises as long as they don't get caught... hey it's all good. wink-wink.
  • #8
  • Dec 22, 2010 8:24am Dec 22, 2010 8:24am
Brokers have been better and improved their performance, only because the CFTC is running the show now. CFTC don't f*** around when it comes to brokers misdoings. Now that the CFTC is the 'official' regulatory body, brokers have since cleaned up their act. I've asked this to many of my retail trading friends, "Since the CFTC took the helm of Forex, have you experienced any unfavorable conditions from your broker"? The answer was always, "no, my broker has been almost perfect"!

The NFA did a great job of mediating disputes between broker and traders but most brokers are not afraid of the NFA. The CFTC is an agency that strike fear into brokers because the CFTC will not only fine the broker but has the power to close 'em down.

I was against the CFTC regulating forex but after experiencing the outcome of a CFTC regulated market, I welcome the CFTC and hope they'll continue to crack a whip against broker's bottoms. I've been forex since 2006 and I can tell you that the forex market has come a long way since then. Everybody was screwed over by their brokers back then. From misquoted prices to inaccurate data, every trader loss a little money due to broker antics by then.
  • #9
  • Dec 22, 2010 3:33pm Dec 22, 2010 3:33pm
I can't help but notice that most every time I call a broker with the exception of full service futures brokers. I always get that guy that just graduated from Rudeology Sciences. He's always in a hurry to get off the phone, does not answer questions completely, and has that vibrating lie on hover waiting for a que to release it.

Here's a comical commercial not directly related to FX yet it excites the idea that maybe the person on the other end of the phone just might be a home-bound telemarketer type employee.

www.youtube.com/watch?v=GRLwKw9up3s
"Look Left Think Right"
  • #10
  • Dec 23, 2010 2:29am Dec 23, 2010 2:29am
Quoting Takisd
The market is most certainly advancing technologically.

The thing to remember is, just because you don't see it doesn't mean it doesn't happen.

Tricks are getting a bit less obvious these days, and 'true' ecn does not mean ECN anymore.

With your list of brokers above, you are probably safest of all, but in the end, there are still market makers listed. And even if they have an ECN platform, the question is, if you are profitable on their market maker platform do they request you move to the ECN?

If they do not do this, in my opinion, they...
one broker that has definitely improved itself over the past couple of years is fxopen
  • #11
  • Last Post: Edited 6:54am Dec 24, 2010 6:41am | Edited 6:54am
I have to say Go markets have improved.

Since they recently upgraded their servers execution and up time has been ++
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