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My Personal Broker Comparison Spreadsheet

  • #41
  • Edited 4:53am Feb 26, 2012 4:33am | Edited 4:53am
Quoting praky
yeah all sessions are affected and all lot sizes. I even get slipped on my 0.01 lot trades! what is also interesting is that I never get positive slips only negative... their slippage isnt that bad when compared to say FXCM, but its there...
This is hard to believe, Can you post trade details?

I mostly trade with pepperstone and I only noticed some slippage when I was experimenting with odd pairs but I put that down to my internet connection because it was playing up now and then. For this reason I now have a 2nd (mobile broadband) internet connection as a backup.

My son who trades with Axi EUR/USD and AUD/USD hasn't noticed anything either but he said that micro lot orders perhaps aren't filled as quickly as larger lots.

I think both Pepper and Axi don't have dealing rooms so any slippage should be due to external conditions don't you think?
Here is an explanation of how slippage occurs
http://www.dailyfx.com/forex/educati.../Slippage.html
Are you using MT4?
How's your internet connection?
Have a nice day
  • #42
  • Edited 1:50pm Feb 26, 2012 1:07pm | Edited 1:50pm
Yes, slippage has increased a bit with Pepperstone over the last two months.

However, it's not constant, and I only notice it during really fast market moves and most commonly on executing stop order (it's not a limit after all, it's a trigger for a market order since you gotta punch the market in the other direction to get out.)

Though, I also get positive slippage (and as a scalper, it saves my butt once in a while.) I get positive slippage quite often actually... Not sure what what pairs praky trades but I can confirm positive slippage is common.

If I only look at the last two months where slippage was noticed, my stats say it's about 1 in 5 trades that are affected (positive or negative) and averages out to be about 0.3 pips against me.

Not complaining though, I've recorded much worse slippage out of FXCM and Dukascopy... only broker I actively use that gets nearly no slippage is Oanda.
FXGears.com
  • #43
  • Feb 26, 2012 1:44pm Feb 26, 2012 1:44pm
Quoting Jack_Larkin
Yes, slippage has increased a bit with Pepperstone over the last two months.

However, it's not constant, and I only notice it during really fast market moves and most commonly on executing stop order (it's not a limit after all, it's a trigger for a market order since you gotta punch the market in the other direction to get out.)

Though, I also get positive slippage (and as a scalper, it saves my butt once in a while.) I get positive slippage quite often actually... Not sure what what pairs praky trades but I can confirm positive slippage...
Pepperstone Razor live account, slippage data start date: 10-11-2011

Edit: Mean slippage on TP orders (0.206 pips) is highly skewed due to the small number of TP orders filled (usually don't close with TP order), and the random bit of large positive slippage (+4, +2.6 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2012-02-26 at 19.42.13.png Size: 111 KB
  • #44
  • Feb 26, 2012 1:53pm Feb 26, 2012 1:53pm
Quoting rooicol
Pepperstone Razor live account, slippage data start date: 10-11-2011
Cool.

Could you run the same analysis on just the last two months worth of trade data?

I was speaking in terms of what I noticed recently... if I included pre-2012 numbers the slippage rates would dive way down on my own stats.
FXGears.com
  • #45
  • Feb 26, 2012 2:10pm Feb 26, 2012 2:10pm
Quoting Jack_Larkin
Cool.

Could you run the same analysis on just the last two months worth of trade data?

I was speaking in terms of what I noticed recently... if I included pre-2012 numbers the slippage rates would dive way down on my own stats.
Since beginning of January:
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2012-02-26 at 20.09.02.png Size: 116 KB
  • #46
  • Feb 26, 2012 2:21pm Feb 26, 2012 2:21pm
Mmm... an increase, as expected, but not as much of an increase as I noticed on my own account. Maybe I just got some unlucky hits here and there.

All this talk about slippage makes me want to pull transaction records from all my brokers and compare them again.
FXGears.com
  • #47
  • Feb 26, 2012 2:40pm Feb 26, 2012 2:40pm
Quoting Jack_Larkin
Mmm... an increase, as expected, but not as much of an increase as I noticed on my own account. Maybe I just got some unlucky hits here and there.

All this talk about slippage makes me want to pull transaction records from all my brokers and compare them again.
Yeah, there is an increase recently, it can be seen from the "Pending Order Slippage" bar chart, just three orders slipped here and there, (up until 24th January), then more frequent slippage
  • #48
  • Feb 28, 2012 7:19pm Feb 28, 2012 7:19pm
Quoting alstural
u'll pay commission on the top of duca's costs

and scalping becomes very prohibitive then
http://www.fairtradingtech.com/t3-bridge/fee/
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #49
  • Feb 28, 2012 7:23pm Feb 28, 2012 7:23pm
Quoting RoelsMajor
Hi rooicol
Could u review this broker

Integration Company Bridge for MT4 Ducascopy
http://www.fairtradingtech.com/

Thanks for help
Hi rooicol. Thanks for the update!

And please if u have time to review the above and this broker: http://www.atcbrokers.com/

Thank U very much....
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #50
  • Feb 29, 2012 1:58am Feb 29, 2012 1:58am
Quoting RoelsMajor
Hi rooicol. Thanks for the update!

And please if u have time to review the above and this broker: http://www.atcbrokers.com/

Thank U very much....
Hi, I've added fair trading technologies to the list. ATC is already on the list i just haven't got round to them yet. If you download the most up to date version you will see brokers in rows 25-54 i've still to complete.

Happy Trading
  • #51
  • Dec 11, 2012 3:01am Dec 11, 2012 3:01am
Very impressive work Rooicol, geniass.
Just one concern, i prefer pepperstone myself and accross the pairs the spread is very good. But taking for example Instaforex two points i would like to make. 1- their spread may be '3' as you stated on the broker comparison, but thats for the majors, but 80% of the other pairs they offer the spreads are appaling, like avergaging 10, who on earth can win with spreads like that. So by placing '3' i assumed all the pairs average out to '3' spread but this is not the case. So could you guide me through how i or anyone could input your indicators and measure the spread per pair and add that to a new worksheet on your existing document. It will become loaded with data, overall it would show how brokers fair with all pairs not just the majors.

Secondly, what of concerns with service and scams. maybe a link to myfxbook for each broker on your spreadsheet would be handy, a link directly to the discussion for each broker.

Regarding Instaforex i read on myfxbook someone posted instaforex is a scam. I see they are regulated by your recent addition to the broker comparison doc. But i read some serious claims: http://www.myfxbook.com/reviews/brok...#?pt=2&p=5&o=1 see what peter977 says on the fifth page. Albeit only 3 bad comments, mostly about requotes and slippage, still no one mentions the large spread on cross pairs.
Also on forexpeacearmy it read stay away, withdraw funds they are a scam?!!?
http://www.forexpeacearmy.com/public...instaforex.com
This is pretty serious, and although the spreadsheet is informative it may be neccessary to also alert traders of allegations etc

Also could you explain why Instaforex are different to every other broker in that trading 1 lot is 10,000 units whereas traditionally 1 lot is 100,000 units. So instead with pepperstone i execute 1 lot, with instaforex i would execute 10 lots. What if they are scamming us, and gaining the 9 lots if you get my drift. Let me try explain, (leaving spread and commision aside) i buy 10 lots with pepperstone, that would fluctuate at 100USD per point, say i make 10 pips, i gain roughly 1000USD. With Instaforex i would have to purchase 100 lots to gain 1000USD for the same position. But maybe they reflect the position as gaining only 100USD per point where in fact it is gaining 1000 per point. Maybe im conspiring. Your input or anyones to clarify this would be appreciated.
  • #52
  • Dec 12, 2012 8:56am Dec 12, 2012 8:56am
I have made some updates let me know what you think and i will finish off the rest
Attached File(s)
File Type: xls Broker Comparisons.xls   209 KB | 627 downloads
  • #53
  • Dec 12, 2012 9:40am Dec 12, 2012 9:40am
One more addition of brokers spread. But as i started i noticed how biased the demo spreads are, so once i get that tool from you i can implement it to the live accounts and ill open live accounts with the rest of the brokers, heck why not ey. I have about 7 thus far.

So this doc has a worksheet with spreads any comments welcome, and as mentioned i wont continue adding demo accounts spreads as it is non sensical.
Attached File(s)
File Type: xls Broker Comparisons_v2.xls   214 KB | 559 downloads
  • #54
  • Dec 12, 2012 3:00pm Dec 12, 2012 3:00pm
Quoting JayPipin
I have made some updates let me know what you think and i will finish off the rest
Hi Jay. I noticed that you have missed FXOpen AU (fxopenaus.com) from your list. We have competitive conditions so I think we would make a good addition to the spreadsheet.

If you need to ask any questions to fill in the data, feel free to ask me.
  • #55
  • Dec 20, 2012 3:23am Dec 20, 2012 3:23am
fxopen is third on the list, i will however add the FXOpen AU
  • #56
  • Jan 3, 2013 8:13am Jan 3, 2013 8:13am
tx for the review. Does anyone have any suggestions for brokers with MT4 platforms with NY closing? I know axitrader is one but would like to know of others. i have looked at oanda and fx pro and both do not have NY closes for their daily charts.

Tx in advance.
  • #57
  • Jan 10, 2013 3:11am Jan 10, 2013 3:11am
Candleman i believe Pepperstone to have what you are looking for.. otherwise im not sure, something to add to the document perhaps?

Okay everyone i have made some radical changes to the broker comparison, let me know what you think and i have sent emails to current and other brokers to update their info. Note if you wish to sort the document to suit your requirments such as ratings or leverage, do as follows: click anywhere on the doc (hold cntrl and press 'a') this should select all data. Then click on data on top of excel, then click sort, choose the desired column and be sure the box is ticked for 'my data has headers'.
Thats it. Next update by end of month.
Attached File(s)
File Type: xls Broker Comparisons_v2.5.xls   279 KB | 752 downloads
  • #58
  • Feb 21, 2013 3:11pm Feb 21, 2013 3:11pm
Hi there.
Thank you for that list, i havent really thought of a cost approach when I was looking for a broker myself. Unfortunatly the broker IC Market wasn't listed, as well as other new brokers that come with awesome conditions (such as TradingForex).

I had an EA placed on several demo accounts of different brokers to find out what broker performed best in slippage, sending order time, rising spreads and the outcome of the trades it made. To my surprise the brokers behaved all differently. Sometimes this EA (with the same settings) would fire a signal on one EA but the others remained silent. Any idea why that is?

I found that ActiveTrades and TradingForex have some awesome server response time. Some orders where placed in less than 150ms, which i find really good.

Guten Tag
Nego
  • #59
  • Feb 21, 2013 8:46pm Feb 21, 2013 8:46pm
Hi Jay,

This is the most complete reviews i have ever seen.

Cheers,

Quoting JayPipin
Candleman i believe Pepperstone to have what you are looking for.. otherwise im not sure, something to add to the document perhaps?

Okay everyone i have made some radical changes to the broker comparison, let me know what you think and i have sent emails to current and other brokers to update their info. Note if you wish to sort the document to suit your requirments such as ratings or leverage, do as follows: click anywhere on the doc (hold cntrl and press 'a') this should select all data. Then click on data on top of excel, then click sort,...
  • #60
  • Oct 16, 2013 4:22pm Oct 16, 2013 4:22pm
Quoting Nego
Hi there. Thank you for that list, i havent really thought of a cost approach when I was looking for a broker myself. Unfortunatly the broker IC Market wasn't listed, as well as other new brokers that come with awesome conditions (such as TradingForex). I had an EA placed on several demo accounts of different brokers to find out what broker performed best in slippage, sending order time, rising spreads and the outcome of the trades it made. To my surprise the brokers behaved all differently. Sometimes this EA (with the same settings) would fire...

I will add more brokers when i get round to it, or soon as i hire a pa.

I do expect platforms to react and behave differently, as for ea's i do not use many, but alot has to do with the settings naturally, so therefore the price movement or signal of the ea would be valid on one account but not another could be for many reasons.
I would rather use a trade copier, so choose one brokerage for placing trade or using ea, then setup trade copier to execute trades to other accounts. its real simple to setup. ask me if it is of interest. there is the free version and paid one which is more complex and can work from satellite locations.
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