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Tadawul FX (TDFX) Discussion

  • #241
  • Feb 18, 2011 6:13am Feb 18, 2011 6:13am
Quoting yankees67
I have also noticed alot of re-quotes myself as of lately. I see now I'm not the only one. I don't know what has happened. I would hardly ever get re-quotes in the past, but now I get them just about every trade I try to open or close and the majority of the time they are NOT in my favor.

http://i51.tinypic.com/68g01c.jpg
  • #242
  • Feb 18, 2011 6:50am Feb 18, 2011 6:50am
Quoting bursch
"Have you tried contacting your Personal Account Manager to investigate?

I always recommend to get in contact with Tadawul FX ASAP if you are facing any issues. Often the issue can be investigated and resolved straight away without further complications. The more information you can provide us with the better and faster things can be resolved."

Hi, Kate. Yep, I contacted them and included a spreadsheet detailing the times, orders, etc.

The first response was a verbal shoulder shrug, "well, the prices...

Hi Bursch,

Thanks for the additional information. Could you please PM me your account number and I will get this investigated for you ASAP.

Many thanks!
  • #243
  • Feb 18, 2011 6:56am Feb 18, 2011 6:56am
Quoting yankees67
I have also noticed alot of re-quotes myself as of lately. I see now I'm not the only one. I don't know what has happened. I would hardly ever get re-quotes in the past, but now I get them just about every trade I try to open or close and the majority of the time they are NOT in my favor.
Hi yankees67,

Let me know if you would like me to look into this for you as well. If so, please PM me with your account number, order numbers and dates so we can investigate the matter fully.

Kind Regards,
  • #244
  • Feb 18, 2011 7:02am Feb 18, 2011 7:02am
Quoting JohnFX_King
Hello.

What is the minimum deposit for a new account?

I trade with scalping strategy, can you tell me the average spread on EURUSD?

Thanks in advance for answer.

Hi JohnFX_King,

Good questions!

The minimum deposit is $500 (or the equivalent amount in EUR, GBP, JPY or CHF).

The spread on MINI account (balance $500-$5000) is 3 pips, fixed at all times. The spread on STANDARD account (balance $5000 - $150000) is 2 pips, also fixed at all times.

Have you opened a demo/live account yet? it's a good way to practice and test your strategy.

Kind Regards,
  • #245
  • Feb 18, 2011 8:37am Feb 18, 2011 8:37am
KATE, Michael P. is who i've been corresponding with, he has all my info. i'll ask him to fwd it to you.

AJA, my guess it that you're on the right track. I checked the bar-by-bar volume during the times i was getting rq's, and tdfx's volume was about a third of a couple other live brokers i use. If you've ever worked in thinly-traded futures contracts, you know how sketchy execution can be.

Also to that point, a great deal of the rq's actually prevented orders from even opening. To me, that really doesn't point to being traded against. When no orders open, NOBODY makes any money...

DUXIS - dude! where can WE get one of those gizmo's?? we'll move to an island nation and start our OWN brokerage... ya'll have a good wkend.
  • #246
  • Feb 18, 2011 11:36am Feb 18, 2011 11:36am
Quoting bursch
DUXIS - dude! where can WE get one of those gizmo's??
made in Cyprus, Bro
  • #247
  • Feb 19, 2011 9:00pm Feb 19, 2011 9:00pm
Quoting TDFX
Hi yankees67,

Let me know if you would like me to look into this for you as well. If so, please PM me with your account number, order numbers and dates so we can investigate the matter fully.

Kind Regards,
Just want you to know that I made several trades Friday and not one re-quote, and very fast executions.
  • #248
  • Feb 20, 2011 11:57am Feb 20, 2011 11:57am
Can you share with us if you have been consistently making money? OR your trading position volume/size is large enough to lure the broker to manipulate you?

if either case is yes, then what you worry is probably true. Otherwise, it may be random.

Quoting bursch
Hi, guys.

I just wanted to see if anyone else was beginning to have problems with TDFX and unacceptable amounts of re-qoutes?

They were fine for quite awhile and just last week became highly problematic -- 80% of Open-order attempts thwarted by re-quotes, and -- even worse -- beginning to have orders prevented from closing due to requotes.

Thx!
  • #249
  • Feb 21, 2011 7:56am Feb 21, 2011 7:56am
Quoting yankees67
Just want you to know that I made several trades Friday and not one re-quote, and very fast executions.
Thanks Yankees67,

Thats good to hear!

Regards,
  • #250
  • Feb 21, 2011 8:17am Feb 21, 2011 8:17am
Hello, Can you tell me, what is the minimum deposit I can open account with Tadawul FX?
  • #251
  • Feb 21, 2011 9:13am Feb 21, 2011 9:13am
Quoting Allan
Hello, Can you tell me, what is the minimum deposit I can open account with Tadawul FX?
Hi Allan,

The minimum deposit is $500. Will you be opening a demo account or a live account to begin with?

Kind Regards,
  • #252
  • Feb 21, 2011 9:46am Feb 21, 2011 9:46am
Quoting bursch
"Have you tried contacting your Personal Account Manager to investigate?

I always recommend to get in contact with Tadawul FX ASAP if you are facing any issues. Often the issue can be investigated and resolved straight away without further complications. The more information you can provide us with the better and faster things can be resolved."

Hi, Kate. Yep, I contacted them and included a spreadsheet detailing the times, orders, etc.

The first response was a verbal shoulder shrug, "well, the prices...

Hi Bursch,

Thanks for providing me with the additional information.

Your inquiry has been investigated by the Treasury Department, and your Account Manager, Michael P informed me that he got back to you this morning with all the details as well as the log file of your trading activities.

Based on this report, I can see that you trade EUR/CHF with an EA, and that you received a few requotes on this pair during the Asian trading session, when the liquidity generally tends to be very thin on this pair. Even though you received some requotes (due to a change in the market price), almost all requotes were actually in your favor (which would have made you more profit). I also see that your EA has not accepted any requotes of the price, and as a result, the profits were not locked.

This is a perfect example of STP execution, where you were receiving direct prices from our liquidity providers. I am glad you brought this up because this shows that Tadawul FX does not trade against clients, and requotes can be in your favor as well as against you, as is generally reflected by market movement and behavior.

Based on this information, I would suggest that you adjust the settings of your EA to accept the change in price (or requotes), as this could potentially increase your profit margins.

I hope this has helped.

Let me know how it goes!

Kind Regards,
  • #253
  • Feb 21, 2011 11:14am Feb 21, 2011 11:14am
O,ye, definitely please Bursch, could you show your EA's line that contains "ordersend(...)" function?

maybe you did not allow a sufficient tolerance of entry price?

this is indeed a good example, if we can compare each side's details.

thanks.

Quoting TDFX
Hi Bursch,

Based on this information, I would suggest that you adjust the settings of your EA to accept the change in price (or requotes), as this could potentially increase your profit margins.

I hope this has helped.
  • #254
  • Feb 21, 2011 11:41am Feb 21, 2011 11:41am
I have been trading with TDFX for more than 6 months, I use to open a couple of positions daily and never had any requote issue, requotes happened only when price moves right when order is submitted which is normal.

The only bad thing with this broker is slippage during news, it is much larger compared to several other brokers I tried, everything is slipped, pending order openeing and even stop loses, so forget about trading news with TDFX.

Other than that, I must admit this broker is not bad at all, withdrawals are processed within 1 hour which is great.
  • #255
  • Feb 24, 2011 3:26am Feb 24, 2011 3:26am
Quoting Heliosdz
I have been trading with TDFX for more than 6 months, I use to open a couple of positions daily and never had any requote issue, requotes happened only when price moves right when order is submitted which is normal.

The only bad thing with this broker is slippage during news, it is much larger compared to several other brokers I tried, everything is slipped, pending order openeing and even stop loses, so forget about trading news with TDFX.

Other than that, I must admit this broker is not bad at all, withdrawals are processed within 1 hour which...


Hi Heliosdz,

Thanks for your feedback. It seems that everything is going well on your account, which is always great to hear!

To address News Trading….. please remember that trading during major news announcements is generally considered very risky as liquidity in the markets is thinner and prices can be extremely volatile, sometimes jumping over 100 pips in a matter of seconds! For this reason many brokers either do not allow news trading, or widen the spreads considerably to protect themselves from potential losses.

As Tadawul FX has a policy of fixed spreads at all times and follows an STP model of execution, capturing the market price during high volatility can be extremely difficult, and unfortunately slippage can occur every now and then. Slippage is a natural part of trading, and generally happens with all STP/ECN banks and brokers who are direct participants in the real market.

News Trading can be very risky and can yield high profits as well as result in large losses. It is not for everyone, and I would always recommend to identify your approach to risk first. If you like to take high risk, then news trading might be for you, otherwise it is generally not advisable.

Have a great day and thanks again!

Regards,
  • #256
  • Feb 28, 2011 8:49pm Feb 28, 2011 8:49pm
Can you please update me on the time frame before trading on the MT4 platform will be available on the iPhone please.

Thank you in advance.
  • #257
  • Mar 1, 2011 10:05am Mar 1, 2011 10:05am
Quoting Sgt. Rich
Can you please update me on the time frame before trading on the MT4 platform will be available on the iPhone please.

Thank you in advance.

Hi Sgt. Rich,

It is being discussed now, so I am not able to give the exact time frame, however, I believe it should be available in the next few months. As soon as i have more info i will let you know. In the meantime if you are interested, you can trade on a Windows compatible mobile phone.

Kind Regards,
  • #258
  • Mar 3, 2011 9:13am Mar 3, 2011 9:13am
Quoting TDFX
Hi Bursch,

Thanks for providing me with the additional information.

Your inquiry has been investigated by the Treasury Department, and your Account Manager, Michael P informed me that he got back to you this morning with all the details as well as the log file of your trading activities.

[size=3][font=Calibri]Based on this report, I can see that you trade EUR/CHF with an EA, and that you received a few requotes on this pair during the...
Hi, Kate. Thanks for your reply including details, some of which are indeed accurate.
The Asian session does have less liquidity, but especially so on the TDFX platform. TDFX's bar volume has consistently been about a third that of other live brokers i'm running... which may be partially why requotes increased dramatically.
Also, there seems to be a correlation of requotes to order size. 5-microlot orders sail through but 1-lot orders are accosted mercilessy by requotes. and 1 lot isn't large enough that it should encounter difficulty getting filled. i'm still exploring this.
I'm also looking at potential latency issues, but that's on my end, nothing to do w TDFX.
The bit about the requotes being in my favor is, at least from the several i've looked at closely, pure fiction and probably a result of log misinterpretation. At the end of the day, though, that wasn't the real issue. The real question is why requotes increased by an order of magnitude. Shame we couldn't have focused on that...
  • #259
  • Mar 3, 2011 9:16am Mar 3, 2011 9:16am
Quoting charvo
Can you share with us if you have been consistently making money? OR your trading position volume/size is large enough to lure the broker to manipulate you?

if either case is yes, then what you worry is probably true. Otherwise, it may be random.
No, now don't get me wrong here -- i haven't seen anything to suggest they're manipulating orders. I say that primarily because most of the requotes prevent orders from opening. when orders don't open, NOBODY makes any money, brokers included.
  • #260
  • Mar 3, 2011 9:19am Mar 3, 2011 9:19am
Quoting charvo
O,ye, definitely please Bursch, could you show your EA's line that contains "ordersend(...)" function?

maybe you did not allow a sufficient tolerance of entry price?

this is indeed a good example, if we can compare each side's details.

thanks.
It's off-the-shelf so no lines available. But that's not the point.

No requotes, works fine, to tons of requotes [see previous graph]. i'm guessing the EA's code isn't what suddenly changed...
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