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  • #241
  • Jan 1, 2015 1:12pm Jan 1, 2015 1:12pm
lol hedging
  • #242
  • Jan 1, 2015 1:53pm Jan 1, 2015 1:53pm
Quoting Supertrader9
Forex-Forex: FXCM transaction cost is 0.8pips(40usd per million/8usd per lot round turn) ICmarkets is 0.7pips(35 per million/7usd per lot round turn). LizzyBennet : Why would their Mt4 have too many issues?
IC Market commission of $7 is without a discount. If you assign an IB when you sign up, your commission is $5.5 only.

Cheers,
FxTurtle
Fear prevent possibilities, and so does Greed
  • #243
  • Jan 4, 2015 2:24am Jan 4, 2015 2:24am
Quoting LizzyBennet
Hi Forexia, 1) The entire 300k would be collateral that LCG would base their credit line off, i.e., they would give me 1:50 leverage on the 300k so I would have 15 million notional to trade with. My understanding is that the 250k deposit is the same as the capital I would normally deposit with the broker except in this case it stays in my own bank account. However, LCG would have access to it and have the right to take whatever amount I owed them from it if I lost more than the 50k that is deposited in their account. I THINK this is how this works...
1) LCG allows 50:1 leverage ONLY?? That's a bit on the low side in terms of leverage. I don't know if it's that worth it to invest that much funds with them even if entire $300K is staying in your own bank and not one cent of it is with LCG especially if you are even expected to a minimum trade volume.

2 Any benefits or features of trading on an ECN would only be lost if the broker itself decides to "lose" them. LOL It would have nothing to do with MT4. MT4 is capable of displaying and executing anything that a true ECN broker is willing to offer including but not limited to DOM. If some features or benefits is not there, it would be because the broker does not wish to offer it. LOL Execution speed has NOTHING to do with MT4; it has to do with again the brokers, its servers, its connections and its proximity to the trading centres. MT4 is just an interface if you will between the trader and the broker. I like cTrader mainly because of its trader-friendly design, its intuitive and dynamic display of DOM and the powerful, fast software features that allow for entering trades in split-second speed. They all help when a trader needs to trade on fast-moving prices. And plus cTrader allows for inverse spreads where the bid is < ask. They don't last long and doesn't happen that often of course but only in cTrader you are able to see it. And its robust cAlgo, its programmable custom indicator and strategy creator in C# fully integrated to cTrader just makes it that much more desirable.

Hope that helps. Good Trading!
Make your losses in demo. Earn your profits live.
  • #244
  • Jan 4, 2015 9:05am Jan 4, 2015 9:05am
Supertrader9 - I have read that MT4 is slower because orders need to go through a bridge to reach the exchange, and that it doesn't show DOM, neither of which is the case with the Webtrader. I also remember Mingary saying in July 2014 that he was getting frequent disconnections on MT4.

Forexia - Yes, I asked LCG f they could offer higher leverage and was told that 1:50 is it. I am still waiting for them to get back to me on the minimum trading volume but I am starting to lean towards to not using them. I agree with you that the limited leverage and the high trading volume volume requirement make them unsuitable for my needs. Thank you for your thoughts regarding cTrader. I'll definitely keep what you have said in mind if I am given the option to use it.
  • #245
  • Jan 4, 2015 6:00pm Jan 4, 2015 6:00pm
Quoting LizzyBennet
Supertrader9 - I have read that MT4 is slower because orders need to go through a bridge to reach the exchange, and that it doesn't show DOM, neither of which is the case with the Webtrader. I also remember Mingary saying in July 2014 that he was getting frequent disconnections on MT4. Forexia - Yes, I asked LCG f they could offer higher leverage and was told that 1:50 is it. I am still waiting for them to get back to me on the minimum trading volume but I am starting to lean towards to not using them. I agree with you that the limited leverage...
I am glad I was some help to you but just one thing that I want to clarify: DOM IS available on MT4 as long as the broker is an ECN and provides it. The frequent disconnections can happen to ANY platform and it has nothing to do with MT4; it has to do with the brokers' servers, how adequate they are at handling traffic and etc. And since everything is electronic, going through a a bridge is still instant.

It's a shame that LMAX doesn't allow hedging. Well that broker is off my potential brokers' list now. Thanks for the info.

Good trading!
Make your losses in demo. Earn your profits live.
  • #246
  • Jan 4, 2015 11:35pm Jan 4, 2015 11:35pm
This IC markets getting worst see what they did to my account http://www.forexfactory.com/showthread.php?t=519976
who said ecn broker has no control over your account and price manipulated. what they did to me was unbeleivable
  • #247
  • Jan 5, 2015 7:24am Jan 5, 2015 7:24am
Quoting KingHussain
I have traded with IC market for good 3 years thinking my trading cost will be lower and it will great to be with an ECN broker this all sounds great until one day I lost 13000 dollars just because my pending order didnt got filled on the price which I wanted and finally my DD made me cut losses and my account was wiped out, even today I feel the pain. when you talk with IC market they will give same bull shiit reason for slippage that they have no control over it, actually they have perfect control over it but they unplug you from server to make...
If you are making accusations like this please provide the full details of the trade, the time, news and figures from the platform so people can see what happened?
  • #248
  • Jan 5, 2015 9:25am Jan 5, 2015 9:25am
Quoting Forexia
{quote} I am glad I was some help to you but just one thing that I want to clarify: DOM IS available on MT4 as long as the broker is an ECN and provides it. The frequent disconnections can happen to ANY platform and it has nothing to do with MT4; it has to do with the brokers' servers, how adequate they are at handling traffic and etc. And since everything is electronic, going through a a bridge is still instant. It's a shame that LMAX doesn't allow hedging. Well that broker is off my potential brokers' list now. Thanks for the info. Good trading!...
You can't hedge on Lmax Web platform but you can on their MT4 accounts.
  • #249
  • Jan 6, 2015 11:27am Jan 6, 2015 11:27am
Yes, I did say that LMAX only allows hedging on MT4 but I didn't want to use LMAX's MT4 platform because of the unfavourable reviews I had read on it. Given Forexia's explanation that MT4 is not bad per se, I am wondering if I should give LMAX's MT4 platform a go after all. One thing about IC Markets is that it seems it is expensive to deposit and withdraw funds if you are not based in Australia which I am not. And stories such as the one where the guy got margin stopped out because he couldn't deposit additional funds in time scare me...
  • #250
  • Jan 6, 2015 3:32pm Jan 6, 2015 3:32pm
Quoting LizzyBennet
Yes, I did say that LMAX only allows hedging on MT4 but I didn't want to use LMAX's MT4 platform because of the unfavourable reviews I had read on it. Given Forexia's explanation that MT4 is not bad per se, I am wondering if I should give LMAX's MT4 platform a go after all. One thing about IC Markets is that it seems it is expensive to deposit and withdraw funds if you are not based in Australia which I am not. And stories such as the one where the guy got margin stopped out because he couldn't deposit additional funds in time scare me...
yup IC Markets is BIG on Margin Stop outs. They stop out positions with just like 20 pips in the red.

So the key is to Make sure you have TONS of funds in the account BEFORE you start trading and trade in ONE account at a time, e.g. either MT4 OR cTrader but NOT both because in case if your positions are all running in the red, you won't be able to transfer funds between both accounts and then you are going to get stopped out. And you can't count on deposits to save you from Margin Stop Outs because they can take days or even weeks to arrive especially if you are trading outside of Australia. My deposits took 1 week to arrive at IC when it was supposed to be within 4 hours. I don't know if it's really the Australian National Bank that's slow or IC was just reluctant to credit the account. That we will never know unless you happen to be working for IC Markets.

Good trading everyone!
Make your losses in demo. Earn your profits live.
  • #251
  • Jan 15, 2015 5:56am Jan 15, 2015 5:56am
ICMarkets fake wick of more than 7000 pips on USDCHF (demo account)

Answer from Support agent

We are aware of the spike on the USDCHF pair
and would ask you to fill up the trade investigation form for your trade on USDCHF

This form is used to request a trade investigation.

Please use the link below to sign in and download the form

https://secure.icmar…l/Trade-Investigation-form.pdf
Please provide the following information and send to [email protected]

- Account number
- Deal ticket number/s of affected trades
- Short description of issue/s experienced
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH4.png Size: 7 KB
  • #252
  • Jan 15, 2015 7:39am Jan 15, 2015 7:39am
EURCHF's wick has also gone to 0.64634 on IC Markets while for Exness, it is 0.94081............looks very suspicious.
  • #253
  • Jan 15, 2015 9:03am Jan 15, 2015 9:03am
Quoting r41225
EURCHF's wick has also gone to 0.64634 on IC Markets while for Exness, it is 0.94081............looks very suspicious.
ICMarkets was 0.0640 not 0.640 look at the image above
  • #254
  • Jan 15, 2015 10:18am Jan 15, 2015 10:18am
All LIVE account holders trading CHF pairs just received an email notice stating that IC Markets acknowledges the bad prints and wicks affecting CHF trades during the news release. The wicks are indeed erroneous and are not even close to "fair" sources such as Bloomberg or EBS. They are even far from matching those of other brokers whom I trade with. So far, IC Markets prints a current low on EUR/CHF is 0.74549 and 0.06460 on USDCHF. This will obviously be fixed and trades readjusted.

Please bear with IC Markets before crying foul. I have been affected by it too but they did promise to their clients that they are aware of the issue and they are investigating to fix all trades. So let's wait and see for now.

Ahmerkhan, I am one of your clients so please back us all up on this. This is a huge opportunity for you to show your worth here.

Princeton
  • #255
  • Jan 15, 2015 10:24am Jan 15, 2015 10:24am
Thanks for the info, please keep us informed about that issue.
  • #256
  • Jan 15, 2015 10:24am Jan 15, 2015 10:24am
This is from IC MArkets communication to clients I took from another website.

Dear Client,




This email is concerning the CHF position(s) on your trading account and the prices streamed across the CHF pairs that have affected you today.



Today at 11:30 platform time (GMT+2) the Swiss National Bank removed the floor at 1.20 on the EURCHF currency pair which caused extreme volatility in all CHF pairs and the market in general. Over this period we saw spreads widen significantly which in turn caused the activation of price filters to stop pricing. Once pricing stopped on our main Integral price feed our backup price feed from Currenex was allowed to price. It was at this time that some liquidity providers were able to stream erroneous prices to IC Markets and execute client trades at prices they shouldn’t have.



Today IC Markets will be amending the prices on trades done across the CHF pairs with our liquidity providers. Once we have had these trades amended we will begin the process of adjusting clients accounts. This may include but not be limited to the actions below:



• Reinstatement of positions where appropriate and possible

• Amendment of open/close prices on trades

• Assessment of client portfolios closed due to insufficient margin

• Adjusting client cash balances to reflect the actions above



IC Markets staff will be working as fast as possible to complete the above and restore trading accounts to their correct state. We appreciate your patience as we complete this.





Kind regards,


IC Markets Trade Desk
Fear prevent possibilities, and so does Greed
  • #257
  • Jan 15, 2015 10:30am Jan 15, 2015 10:30am
May I know what is the valid bottom for USDCHF wick for that particular candle? I understand that it is hard to get a very accurate answer now but from various brokers I get between 0.7-0.9.

My very own broker FxPrimus bottomed at 0.30758 (ECN) and I haven't get any reply from them yet My account tanked 6.6k pips loss before get margin called at 0.36xx. I am willing to accept the loss if the quote is valid, but otherwise if it is due to bad wick from broker.

I wish all of you that is affected by the issue will get appropriate answer and return on this.
  • #258
  • Jan 15, 2015 10:51am Jan 15, 2015 10:51am
Quoting Clivethien
May I know what is the valid bottom for USDCHF wick for that particular candle? I understand that it is hard to get a very accurate answer now but from various brokers I get between 0.7-0.9. My very own broker FxPrimus bottomed at 0.30758 (ECN) and I haven't get any reply from them yet My account tanked 6.6k pips loss before get margin called at 0.36xx. I am willing to accept the loss if the quote is valid, but otherwise if it is due to bad wick from broker. I wish all of you that is affected by the issue will get appropriate answer and return...
Bloomberg shows the following lows:
USDCHF = 0.7406 (BGN feed)
EURCHF = 0.8517 (BGN feed)

Another very reliable broker shows the following lows on their LIVE platform:
USDCHF = 0.83956
EURCHF = 1.00469

So the truth has to be somewhere between both feeds.

In any case, getting margin called at 0.36xx is simply not happening on USDCHF. I am sure they will fix it.

Let's wait and see.
  • #259
  • Jan 15, 2015 10:57am Jan 15, 2015 10:57am
Quoting Princeton
{quote} Bloomberg shows the following lows: USDCHF = 0.7406 (BGN feed) EURCHF = 0.8517 (BGN feed) Another very reliable broker shows the following lows on their LIVE platform: USDCHF = 0.83956 EURCHF = 1.00469 So the truth has to be somewhere between both feeds. In any case, getting margin called at 0.36xx is simply not happening on USDCHF. I am sure they will fix it. Let's wait and see.

Thanks for your info, really appreciate it! Regards.
  • #260
  • Jan 15, 2015 11:23am Jan 15, 2015 11:23am
Quoting Princeton
{quote} Bloomberg shows the following lows: USDCHF = 0.7406 (BGN feed) EURCHF = 0.8517 (BGN feed) Another very reliable broker shows the following lows on their LIVE platform: USDCHF = 0.83956 EURCHF = 1.00469 So the truth has to be somewhere between both feeds. In any case, getting margin called at 0.36xx is simply not happening on USDCHF. I am sure they will fix it. Let's wait and see.
USD/CHF was down to .71
Trade at your own risk.
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