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  • #21
  • Edited 6:52pm May 30, 2009 3:39pm | Edited 6:52pm
Quoting Skyhr
Also,

How much exactly would these anti-scalping things hurt other traders? Are we talking about 1 pip here? 5 sec execution?

If I am trading on the 15min time frame, would this hurt me? 5 min?

Also, I've been told FXDD is also a bucketshop but it's actually pretty good - I'm guessing this means that they just have fewer "anti-scalping crap"?
Easy answer. How many times has your TP been missed by a couple of pips? How many times has your stop been hit and exceeded by only a couple pips before reversing. - Alpari's 3-5 second entry delay can easily mean that your entry for 100 could easily be 109 or 110. (OR WORSE!! since you can be requoted for 10-15 minutes!!! - It usually takes 3-5 minutes between requotes on Alpari and you can get a couple in a row) Now instead of cashing out at a TP of 120 (for +20 pips) you now have to wait for 129 or 130. Widened spread could easily make you hit your StopLoss. If the spread is 5 (instead of 2) when you place your order - A Stop of 50 will get hit at -45 instead of -48. These two things will happen so much you'll rip your hair out.

IBFX smooths the data like crazy (other brokers have higher highs and lower lows) - This will turn your indicators into trash!! - they will lose ANY predictive ability since they're not getting a true picture of the market but a overly smoothed one. Martingale peeps will HATE IBFX since they depend on high and lows (that they'll never see) for cashout. IBFX is once of the worst offenders. Alpari smooths too just not as bad. I dont wanna trade in my brokers fantasyland - SHOW ME THE REAL MARKET!!
  • #22
  • May 31, 2009 2:32pm May 31, 2009 2:32pm
Quoting Fulltime247
Easy answer. How many times has your TP been missed by a couple of pips? How many times has your stop been hit and exceeded by only a couple pips before reversing. - Alpari's 3-5 second entry delay can easily mean that your entry for 100 could easily be 109 or 110. (OR WORSE!! since you can be requoted for 10-15 minutes!!! - It usually takes 3-5 minutes between requotes on Alpari and you can get a couple in a row) Now instead of cashing out at a TP of 120 (for +20 pips) you now have to wait for 129 or 130. Widened spread could easily make you hit...
Ah, then what is your opinion for MB Trading, FXDD, and FXCM? I don't know anything about PFGBest either. I plan to only use MT4 EA, not scalping, but little bit fast swing trading(?). 15min time frame, let's say.

I know MB Trading is ECN but I don't know how that works out with MT4 EA, that's my concern. And I've also heard that the commission really isn't $5 USD, it's that times the exchange rate - so if EURUSD is 1.5 it'll be $7.5. Correct me if I'm wrong please?

My final 'candidates" are FXDD and MB trading, (maybe FXCM(?)) and IBFX and Alpari are definitely out!
  • #23
  • May 31, 2009 6:23pm May 31, 2009 6:23pm
Quoting Skyhr
Ah, then what is your opinion for MB Trading, FXDD, and FXCM? I don't know anything about PFGBest either. I plan to only use MT4 EA, not scalping, but little bit fast swing trading(?). 15min time frame, let's say.

I know MB Trading is ECN but I don't know how that works out with MT4 EA, that's my concern. And I've also heard that the commission really isn't $5 USD, it's that times the exchange rate - so if EURUSD is 1.5 it'll be $7.5. Correct me if I'm wrong please?

My final 'candidates" are FXDD and MB trading, (maybe FXCM(?)) and IBFX and...
I had a live account with MB Trading that I closed for 3 reasons (below). FYI though, I don't think they have MT4 ready for live accounts yet anyway, but I could be wrong.

Reasons for closing:

1) The entire platform shuts down for "Maintenance periods" twice a day. Each period can last almost 10 minutes. During one, I had an open position dissappear from the platform, and NOT reappear when maintenance was over. I called the desk, but they said they couldn't see it either, and then started questioning if I REALLY had a position, treating me like a stupid newbie. I knew I did, and 45 minutes later it magically reappeared. Fortunately, the price went in my favor and I closed at a profit, but it could just as easily have been real ugly.

2) I found execution to be very slow. This often resulted in a lot of slippage on market orders, i.e. I hit "Buy" when the price is 132.50, but get filled at 132.54 just because the order is so slow to execute and the price moved.

3) Commissions. They are outrageous in my opinion. And yes you are correct; it's $5 per $100,000 USD per side, so $10 round turn on 1 standard lot on USD pairs. So, that means if you are trading GBP pairs, it's $10 X 1.61 at the moment, or $16.10 to trade 1 lot round turn. EUR pairs are about $14.10. Of course if you trade AUD pairs, the commission comes out less than the $10, like $8, but I trade primarily GBP and EUR pairs so it was a concern for me.

With all that said, I do believe they are an honest company and won't try to screw you. But all of the above was still enough for me to want to close my account.

If you're down to FXDD and MBT, I'd say go with FXDD. They're not perfect, but should fulfill most of your trading needs. Their spread on GY is nuts though, 9 pips fixed, so if you like that pair, you might want a second account someplace else with a better spread.

Anyway, hope that helps
  • #24
  • May 31, 2009 6:53pm May 31, 2009 6:53pm
#1 - http://www.pfgbest.com/ (ECN - I REALLY Like What I See)
#2 - http://MBTrading.com (ECN - MT4 in Live BETA but 2 Sided NEGATIVE SWAPS!)
#3 - http://atcbrokers.com (ECN)
#4 - http://www.whcmarket.ru (ECN in Russia - Broco Investor Platform)

If you don't care about swaps than #1 or #2 will do for you. PFG has 10 Bank liquidity, clean unfiltered charts - They have 4 digits NOT 5 but besides that I really like what I see. You wont get true customer2customer order matching but at least they dont trade against you. - You get the TRUE market!! #3 ATC is still on the list (and might be #2 really) - I just wanna see if the switch to FXCM continues to improve the service. (it actually has) - Couple more months and I will move em up.
  • #25
  • Jun 1, 2009 2:30am Jun 1, 2009 2:30am
Quoting Fulltime247
#1 - http://www.pfgbest.com/ (ECN - I REALLY Like What I See)
#2 - http://MBTrading.com (ECN - MT4 in Live BETA but 2 Sided NEGATIVE SWAPS!)
#3 - http://atcbrokers.com (ECN)
#4 - http://www.whcmarket.ru (ECN in Russia - Broco Investor Platform)

If you don't care about swaps than #1 or #2 will do for you. PFG has 10 Bank liquidity, clean unfiltered charts - They have 4 digits NOT 5 but besides that I really like what I see....
What do you mean "switch to FXCM"?
Also, what do you mean by "true customer2customer order matching"?

Thanks, I really like your response and TC East's.


Also, I think MB trading will be too expensive for me, both directly and indirectly. Directly, the commissions and spread together become larger than a spread of 2 on EURUSD. For example, is spread 1 on EURUSD MB Trading, that's $10 + 2*$5*1.4 vs $20 (whatever the rate is). And this is just for one lot.

For two lots, it's $40 (spread only) vs $20 + 4*$5*1.4, and it gets getting bigger.

Indirectly, I've rest other reviews too of their orders suddenly "disappearing" and that the customer service is terrible (and I've experienced this directly), and I really don't like the idea of them shutting down the server twice a day, especially with the possibility of my orders getting messed up and customer service not caring about it.

I think I will check out FXDD, FXCM, PFG Best, and ATC. What is your opinion on FXCM and FXDD? Any comments? (I'm assuming PFG Best allows MT4 EA?)

(sigh, and I had such high hopes for MB Trading) haha
  • #26
  • Jun 1, 2009 2:49am Jun 1, 2009 2:49am
Quoting Fulltime247
#1 - http://www.pfgbest.com/ (ECN - I REALLY Like What I See)
#2 - http://MBTrading.com (ECN - MT4 in Live BETA but 2 Sided NEGATIVE SWAPS!)
#3 - http://atcbrokers.com (ECN)
#4 - http://www.whcmarket.ru (ECN in Russia - Broco Investor Platform)

If you don't care about swaps than #1 or #2 will do for you. PFG has 10 Bank liquidity, clean unfiltered charts - They have 4 digits NOT 5 but besides that I really like what I see....

Also, what do you think are the odds of PFG going sour like Alpari did? I mean their website says they started out in 2007, pretty recent, no?
  • #27
  • Jun 25, 2009 4:29am Jun 25, 2009 4:29am
In reply to the issue raised recently in this forum, we would like to make the position of Alpari (UK) Limited and its relationship with Alpari Cyprus Limited absolutely clear.

Contrary to assertion, Alpari Cyprus is NOT a Forex trading company and never has traded.

Alpari Cyrus Limited is a holding company for all shares in Alpari (UK) Limited. All shares in Alpari Cyprus Limited are owned by the three shareholders who established Alpari (UK) in 2004.

More importantly, the post suggests that there are issues of regulation and safety of Alpari (UK) customer funds which are misleading.

Alpari (UK) is registered in the United Kingdom with its head office based in the City of London (Registration Number: 5284142).

Alpari (UK) is authorised and regulated by the Financial Services Authority since 2006 (FSA Register Number 448002). Therefore customer funds are segregated as per FSA rules.

Alpari (UK)’s status as an FSA regulated firm means that the company’s clients can make a claim from the Financial Services Compensation Scheme (FSCS) in the event that Alpari (UK) is unable to meet financial obligations.

All capital not being used for margin purposes will be fully segregated into a special client account which is kept separate from Alpari (UK) company funds. Your funds will not be used to pay back creditors in the event of our company’s bankruptcy.

Alpari (UK) customers are further protected, with all customer funds held in a segregated account.

Alpari (UK) does not transfer funds to any country or company outside the UK. All customer funds are held with Barclays Bank and Deutsche Bank.

We hope that this explanation clears up any misconceptions and that our current and future customers are assured of safety of their funds and Alpari (UK)’s compliance with all relevant UK regulations.

If you have any further queries about Alpari (UK), please contact Customer Services on: +44 (0)20 7426 2900.

Alpari (UK)
www.alpari.co.uk
  • #28
  • Jun 25, 2009 5:34am Jun 25, 2009 5:34am
Quoting Alpari UK
In reply to the issue raised recently in this forum, we would like to make the position of Alpari (UK) Limited and its relationship with Alpari Cyprus Limited absolutely clear.

Contrary to assertion, Alpari Cyprus is NOT a Forex trading company and never has traded.

Alpari Cyrus Limited is a holding company for all shares in Alpari (UK) Limited. All shares in Alpari Cyprus Limited are owned by the three shareholders who established Alpari (UK) in 2004.

More importantly, the post suggests that there are issues of regulation and safety of Alpari...
so i guess customers funds in the u.s.a is not safe. in the u.s. customers funds or not segregated there fore you can do as you please.
  • #29
  • Jan 14, 2011 6:03am Jan 14, 2011 6:03am
I find Alpari US Pro pretty good in terms of execution. It is quite quick -- quicker than any other MT4s as far as I know.

(I don't work for Alpari US BTW)

I've been using MT4s of FXCM, FXDD, ATC, and MBT for years. They are all live accounts, not demo. Each MT4 has good and bad, and I don't recommend any particular one for general use. However, if you do scalping, you want to try Alpari US pro. It is fast. Note: I don't know if Alpari US is very good as a broker -- I hope it is. I have an account with them for only a few months and have never made a big withdrawal.

Good luck!
  • #30
  • Last Post: Dec 8, 2011 9:57am Dec 8, 2011 9:57am
Anyone using Alpari US Direct. I was wondering if there are any requotes or a lot of slippage in execution trading a live account?
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