from what I understand is that Atom8 don't have nasdaq100 futures, but cfd`s.
they seem to charge $20 return, although it is a commission-free account.
they seem to charge $20 return, although it is a commission-free account.
I take exception to SaiLyfee's claims that Atom8 isn't a decent broker and for his or her unfair contention that they 'have conditions' about the type of trading allowed.
Let me first respond by saying that there is no such thing as a perfect broker. You'll find the mythical holy grail of trading systems before you find a holy grail brokerage. They simply don't exist. It's a dog eat dog world and at the end of the day the broker cares about the broker's interests ahead of it's clients. Similarly, we as traders are interested in our own situations ahead of any particular companies we happen to hold trading accounts with. I speak with experience because I've been with about a gazillion in my time and I can tell you that conflicts of interest arise no matter whether you're dealing with a micro-lot bucketshop from North Korea or the most prestigious London boutique that requires a quarter of a million as initial deposit.
Now, back to your particular grievance with Atom8, SaiLyfee...
By the snide use of the term 'so called', it appears you are calling into question the veracity of the claim that they even have external liquidity providers and perhaps imply that they are simply a market maker. I can tell you as a point blank fact that they do have LPs. Depending on whether you are using their Integral, Jforex or MT4 platform, the LPs vary (and are not limited to Dukascopy alone, as evinced by Entheos, above), but I am guessing that your gripe is to do with MT4 and with an incident which happened earlier this year; namely when we clients received an email from high command stating that news trading would no longer be permitted on the MetaTrader platform. Is this what you meant by 'conditions on the type of trading allowed'?
Prior to this event, Atom8 were filling orders without slippage over news announcements and like flies to the honey pot, masses of people were taking advantage of this bonanza. This is perfectly understandable, but Atom's u-turning LP (which shall remain nameless, but sounds a bit like 'whore-mess slime') wasn't happy and told Atom's CEO for an immediate cease and desist. The long suffering man in question, David Andrews, was immediately thrust into the unenviable position of choosing to obey his LP's demands and thereby upset a good portion of his client base or stick two fingers up at the LP and let the clients run amok. He chose the former and I wager that anyone here who was working in David's capacity would have done the same - you wouldn't have been in business long otherwise.
So, if you are a news trader then yes, I would urge you to steer away from Atom8, but this is the ONLY negative thing you'll hear me say about them. In every other respect they are the best broker I've ever dealt with. Furthermore, finding ANY broker who will fill orders over news announcements, consistently, in size and for a protracted term, falls within the purview of my aforementioned holy grail establishment... you know, the one that doesn't exist.
Therefore, if your less than favourable review rests solely on them not filling you on news, then you must put in a little addendum to your post which includes all other forex brokers under the same 'flawed' banner.
You also mentioned your dealings with Atom8's representatives. May I enquire as to the name of the individuals in question? The reason for asking is that they are still a relatively small outfit and to my knowledge I've spoken with all of the people working there on more than a single occasion. Each one is nicer and more helpful than the next. More importantly to us as traders, they give it to you straight. There are so many bullshitters out there in these companies and/or apathetic robots. You never get treated that way with the Atom guys. Or at least I have never had such an experience and can't imagine them completely altering their personalities when they deal with others. Why would they? They're wanting to grow their business and it would be pretty stupid for them to act like jerks or mess people around.
Sorry for going on at length here. I know it sounds like I work for them. I honestly don't. I'm just another trader, but I'm one with many years under my belt and countless dealings with brokers. I've heard every story, trick and gimmick out there. I'm the most cynical, jaded and sceptical person you'll ever meet and don't spew superlatives without damn good reason. With that said, Atom8 is the one broker in all this time who truly deserve credit for every aspect of their business. Everyone else I know who has an account with them has been similarly enamoured and so I'm really surprised by your critical review. If you have time, and I haven't already covered the point, then please post again to elucidate your experience.
Let me first respond by saying that there is no such thing as a perfect broker. You'll find the mythical holy grail of trading systems before you find a holy grail brokerage. They simply don't exist. It's a dog eat dog world and at the end of the day the broker cares about the broker's interests ahead of it's clients. Similarly, we as traders are interested in our own situations ahead of any particular companies we happen to hold trading accounts with. I speak with experience because I've been with about a gazillion in my time and I can tell you that conflicts of interest arise no matter whether you're dealing with a micro-lot bucketshop from North Korea or the most prestigious London boutique that requires a quarter of a million as initial deposit.
Now, back to your particular grievance with Atom8, SaiLyfee...
By the snide use of the term 'so called', it appears you are calling into question the veracity of the claim that they even have external liquidity providers and perhaps imply that they are simply a market maker. I can tell you as a point blank fact that they do have LPs. Depending on whether you are using their Integral, Jforex or MT4 platform, the LPs vary (and are not limited to Dukascopy alone, as evinced by Entheos, above), but I am guessing that your gripe is to do with MT4 and with an incident which happened earlier this year; namely when we clients received an email from high command stating that news trading would no longer be permitted on the MetaTrader platform. Is this what you meant by 'conditions on the type of trading allowed'?
Prior to this event, Atom8 were filling orders without slippage over news announcements and like flies to the honey pot, masses of people were taking advantage of this bonanza. This is perfectly understandable, but Atom's u-turning LP (which shall remain nameless, but sounds a bit like 'whore-mess slime') wasn't happy and told Atom's CEO for an immediate cease and desist. The long suffering man in question, David Andrews, was immediately thrust into the unenviable position of choosing to obey his LP's demands and thereby upset a good portion of his client base or stick two fingers up at the LP and let the clients run amok. He chose the former and I wager that anyone here who was working in David's capacity would have done the same - you wouldn't have been in business long otherwise.
So, if you are a news trader then yes, I would urge you to steer away from Atom8, but this is the ONLY negative thing you'll hear me say about them. In every other respect they are the best broker I've ever dealt with. Furthermore, finding ANY broker who will fill orders over news announcements, consistently, in size and for a protracted term, falls within the purview of my aforementioned holy grail establishment... you know, the one that doesn't exist.
Therefore, if your less than favourable review rests solely on them not filling you on news, then you must put in a little addendum to your post which includes all other forex brokers under the same 'flawed' banner.You also mentioned your dealings with Atom8's representatives. May I enquire as to the name of the individuals in question? The reason for asking is that they are still a relatively small outfit and to my knowledge I've spoken with all of the people working there on more than a single occasion. Each one is nicer and more helpful than the next. More importantly to us as traders, they give it to you straight. There are so many bullshitters out there in these companies and/or apathetic robots. You never get treated that way with the Atom guys. Or at least I have never had such an experience and can't imagine them completely altering their personalities when they deal with others. Why would they? They're wanting to grow their business and it would be pretty stupid for them to act like jerks or mess people around.
Sorry for going on at length here. I know it sounds like I work for them. I honestly don't. I'm just another trader, but I'm one with many years under my belt and countless dealings with brokers. I've heard every story, trick and gimmick out there. I'm the most cynical, jaded and sceptical person you'll ever meet and don't spew superlatives without damn good reason. With that said, Atom8 is the one broker in all this time who truly deserve credit for every aspect of their business. Everyone else I know who has an account with them has been similarly enamoured and so I'm really surprised by your critical review. If you have time, and I haven't already covered the point, then please post again to elucidate your experience.
- #38
- Sep 16, 2016 5:51am Sep 16, 2016 5:51am
- | Joined Jul 2009 | Status: Trade. Review. Improve | 1,018 Posts
