Can i trust this?? | Forex Factory

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Can i trust this??

  • #1
  • First Post: Aug 15, 2006 4:49pm Aug 15, 2006 4:49pm
From FX sol.....

"Computers manage our price feed, computers execute our trades, computers manage our risk. We do not have a large dealing desk and we most definitely do not trade against our clients. FX Solutions dealing desk is purely a customer support desk, one with extensive experience in global markets. 99.9% of trades are automated, executed by our dealing servers without human intervention. There is no manual manipulation of prices."


I have herad a lot that brookers are trading against you....??
  • #2
  • Aug 15, 2006 5:03pm Aug 15, 2006 5:03pm
trust is a dirty word in trading
Relax and be happy.
  • #3
  • Aug 15, 2006 5:11pm Aug 15, 2006 5:11pm
If you have a winning strategy or system, no dealing desk will trade against you..
Of course, this is reserved for just a few ... 5% traders

Quoting cantona7
From FX sol.....


I have herad a lot that brookers are trading against you....??
  • #4
  • Aug 15, 2006 5:12pm Aug 15, 2006 5:12pm
But what can go wrong?
  • #5
  • Aug 15, 2006 5:17pm Aug 15, 2006 5:17pm
software glitches, hardware failures, internet hijacking....


Quoting cantona7
But what can go wrong?
  • #6
  • Aug 15, 2006 5:19pm Aug 15, 2006 5:19pm
Have you heard someone dosent got theirs money on a withdraw??
  • #7
  • Aug 15, 2006 5:23pm Aug 15, 2006 5:23pm
Quoting cantona7
From FX sol.....

"Computers manage our price feed, computers execute our trades, computers manage our risk. We do not have a large dealing desk and we most definitely do not trade against our clients. FX Solutions dealing desk is purely a customer support desk, one with extensive experience in global markets. 99.9% of trades are automated, executed by our dealing servers without human intervention. There is no manual manipulation of prices."

I have herad a lot that brookers are trading against you....??
Regardless of the hype above, what is relevant is can you place your trade just before the news without being inflicted with a gigantic spread on BUY/SELL stop orders? Well, not with this outfit.

The proof of the pudding is in the eating.

From 15Min before the News Event FXSOL often spike the entry buy stop to 25 pips above the buy price. Ditto for the sell price -- so those plus the 3 pip actual spread is 53 pips! The worst I've seen within the last few weeks from this outfit is some 70 pips.

Try Nexgen or FXLiquidity or, for a larger account, Hotspot - split second fills! NingaTrader, a trader's platform, also has a poor broker.
  • #8
  • Aug 15, 2006 5:24pm Aug 15, 2006 5:24pm
Yes, from refco. Haven't had much experience with fxsol yet, but you can ask our team leader here at FF, dialist.
I think, he's been using them for a while..


Quoting cantona7
Have you heard someone dosent got theirs money on a withdraw??
  • #9
  • Aug 15, 2006 5:26pm Aug 15, 2006 5:26pm
Quoting raczekfx
If you have a winning strategy or system, no dealing desk will trade against you..
Of course, this is reserved for just a few ... 5% traders
lol! Funny how that works huh? Sooo true.

.... most of the time.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #10
  • Aug 15, 2006 7:34pm Aug 15, 2006 7:34pm
Yup, I have no complaints with any brokers.. I just trade along... As Merlin says "Trade and be happy" works for me... BTW FXsol is great for withdrawls and deposits...

Scott


Quoting StockKJay
lol! Funny how that works huh? Sooo true.

.... most of the time.
  • #11
  • Aug 15, 2006 8:20pm Aug 15, 2006 8:20pm
I recall that FXSOL was good at stop hunting also...
  • #12
  • Aug 17, 2006 3:30am Aug 17, 2006 3:30am
Quoting Palmer
I recall that FXSOL was good at stop hunting also...
From my latest information, Nexgen is not recommended either.

This is what I found:

They are introducing brokers for North Finance.

North Finance is the organisation you contract with. (You sign an agreement with them and you give your money to them).

1. There registered office is in Belize - this is a tax haven and probably only a "brass plate" operation.
2. The offices are in Cyprus.
3. The support is from Russia ([email protected])
4. Your money is in a bank in Cyprus.
5. It seems from the way they (nexgen) suggest you open an account there isn't even paperwork. (not that that will help much with the above structure).

On nexgen - the contacts page all tel numbers = mobile

Hardly inspiring.
  • #13
  • Aug 17, 2006 3:46am Aug 17, 2006 3:46am
Bash the Borker
Sung to the tune of "Clementine"

Bash the Borker,
Bash the Borker,
Bash the Boooorker Newbietine
Your money's lost and gone forever
Dreadful sorrow Newbietine




sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #14
  • Aug 17, 2006 3:52am Aug 17, 2006 3:52am
Dial, that is a hoot.



Scott
  • #15
  • Aug 17, 2006 4:30am Aug 17, 2006 4:30am
Quoting diallist
Bash the Borker
Sung to the tune of "Clementine"

Bash the Borker,
Bash the Borker,
Bash the Boooorker Newbietine
Your money's lost and gone forever
Dreadful sorrow Newbietine



I seem to remember reading, somewhere, that August is a quiet time for trading, holidays etc.
This obviously proves it. Can't you find some part-time work somewhere Dial?
Peter
  • #16
  • Aug 17, 2006 4:59am Aug 17, 2006 4:59am
I've been conducting various tests and hopefully I can post the results on a spreadsheet.

These tests includes the following on five separate systems running seven dealing desk platforms.

Speed, slippage, freezes, causes of platform freezes, disprepancy of orders(and percentages),too many to list...

So far from some of the results, we've noticed that FXCM, FXSOL, and definitely GFT dealbook with a combination of the following; likely freeze, lockout, manipulate, lose, requote, misquote orders 83.7% of the time when your platform shows pip values in excess of 17 pips; 72% of the time when pip values are 7-17 pips; and 44% of the time when pip values are below 7 pips


We test on a 24/7 basis for all majors and test cross pairs only during active sessions

We also test during news events and notice the MAJORITY of desks will actually do all of the above 92.3% of the time during news events

the REAL accounts fared even worse and showed increasing percentages of the factors listed above...

Conclusion:

BEWARE OF DEALING DESKS....THEY ARE BUILT TO TAKE $$$$$ which is understandable as this is what they are built to do....
  • #17
  • Aug 17, 2006 5:03am Aug 17, 2006 5:03am
Placed a News trade
Placed a News trade
With a straddle on the line
The market maker didn't take er
Dreadful sorrow Newbietine
  • #18
  • Aug 17, 2006 10:20am Aug 17, 2006 10:20am
Quoting Palmer
I recall that FXSOL was good at stop hunting also...
Where do you recall THIS from? Please link to the specific post.

If you can't, then please realize that you can totally mad-lib this statement:

I recall that <<insert broker>> was good at stop hunting also.

Without a specific example, it's hard to believe this kind of thing.
  • #19
  • Aug 17, 2006 10:25am Aug 17, 2006 10:25am
Quoting personkid
So far from some of the results, we've noticed that FXCM, FXSOL, and definitely GFT dealbook with a combination of the following; likely freeze, lockout, manipulate, lose, requote, misquote orders 83.7% of the time when your platform shows pip values in excess of 17 pips; 72% of the time when pip values are 7-17 pips; and 44% of the time when pip values are below 7 pips
*sigh*

ok...what I didn't understand what you said...when they show pip values??? WTF does that mean?

Besides...I heard that 86.3% of all statistical analysis is made up. :-)
  • #20
  • Aug 17, 2006 11:17am Aug 17, 2006 11:17am
Quoting diallist
Bash the Borker
Sung to the tune of "Clementine"

Bash the Borker,
Bash the Borker,
Bash the Boooorker Newbietine
Your money's lost and gone forever
Dreadful sorrow Newbietine



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