CoesFX and MT4

Quoting mclinvestments

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I was aggressively pursued by Coes to bring my business there. This was a disaster. I was promised straight pass through and it never got delivered. I was guaranteed auto execution through the CFG platform and I get requoted on 1 mini.

So either you are lying about what's going to happen which I doubt or you are being fed a line of BS, which is HIGHLY PROBABLE. It doesn't matter if your sources are those arrogant asses in NY, Joe and Scott, or the hustlers in FLA, Arthur and Gilbert.

This company is a joke and I'd stay away.

Just look at CFG as well. They are run by Don Snellgrove of CFG Education and this is a scam as well.

If you want a good MT4 broker, look into FXLQ. Their spreads are a hell of a lot better than Coes as well.

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I was promised straight pass through and it never got delivered. I was guaranteed auto execution through the CFG platform and I get requoted on 1 mini.

Quoting richx7

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COES minis go thru CFG dealing desk which is a market maker - not an ECN.

Here is the FXLQ link (not much there and hard to use) :

http://www.fxlq.com/

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Quoting richx7

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COES minis go thru CFG dealing desk which is a market maker - not an ECN.

Here is the FXLQ link (not much there and hard to use) :

http://www.fxlq.com/

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Quoting WhyLose

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In fact it’s imposable to get MT4 API to execute properly into any ECN API; the infrastructures just do not work together. So Knowing to Promote MT4 into ECN especially to IB would be a home run so they came up with another scheme to offer it anyway. What they do is pretty simple yet very convincing.

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Quoting mclinvestments

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I was aggressively pursued by Coes to bring my business there. This was a disaster. I was promised straight pass through and it never got delivered. I was guaranteed auto execution through the CFG platform and I get requoted on 1 mini.

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Quoting stockwet

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These guys sound familiar. Aren't these the guys that supposedly run the hidden dealing deask for IBFX?

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Quoting stockwet

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mclinvestments,

Welcome to ForexFactory! I actually agree with you here about the CFG guys. I don't think I could trust them as far as I could throw them (see my thread called "Stop Hunting".)

On the other hand, there seems to be a bit of an unwritten policy at FF to provide a bit more details than this when you come on and bash a broker. Could you give us a little more detail on the requote you had? What kind of market was it? When did it happen? Live or mini? Any logs or charts you can share? How many times did you experience a requote?

I think a lot of us strive to provide professional information about the Forex market. I think the kind of info I'm asking about goes a lot farther with the traders here than just leaving your comments where they stand. Otherwise, your thoughts or experiences could be viewed as spam by some.

Enjoy the forums. I think you'll find absolutely terrific people to interact with.

stockwet

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Quoting mclinvestments

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My re-quotes took place in a NON-volatile market, and happened a plethara of times ranging from 1 mini lot up to 3 Std lots. I took screen shots of it as it happened and sent it to Arthur in Fla, who is my contact. I kept getting the same song and dance about we'll fix it, I'll make a call, etc.

I am trading over $100K in funds, so it's not b/c I am small and insignificant, which is what some people fell. I was GUARANTEED to be on straight pass through if I switched to them, by Gilbert the supervisor in FLA.

I still have some print screen shots, but they are not 600 x 600, they are 1400 x 900. I someone can tell me how to upload, I'll be glad to attach the three instances I still have available.

I am also on manual trading with CFG and this is BS as well.

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Quoting mclinvestments

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I am trading over $100K in funds, so it's not b/c I am small and insignificant, which is what some people fell. I was GUARANTEED to be on straight pass through if I switched to them, by Gilbert the supervisor in FLA.

I still have some print screen shots, but they are not 600 x 600, they are 1400 x 900. I someone can tell me how to upload, I'll be glad to attach the three instances I still have available.

I am also on manual trading with CFG and this is BS as well.

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Quoting stockwet

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Yeah, I don't trust the CFG guys. I have a friend trading an account size like yours and he experienced similar stuff. It's one of the issues I brought up with CoesFX when I signed up with them.

Gilbert is the guy that got the relationship going with SBFX also. It sounds like you signed up with CoesFX/MT4 before they did their in-house integration in August. Before that happened, I refused to sign up because I knew that it was really CFG's MT4. At this point, my MT4 experience has been good, but, it's because its NOT going through CFG.

By the way, were you one of the orginal CFG trainees when they were big on their training organization? I have two friends who used their mentoring. I'm told they got the brokerage together to leverage this network of traders they trained, but, a whole bunch of them have dumped the brokerage because of all the problems.

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Quoting Whylose

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There were a couple of recent updates on 09/09/06 regarding COESfx.

I am not allowed to post a link here - PM me if you want to know. There are many more which are mostly negative.

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Quoting forest

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I have read the posts on that site and they are full of inaccuracies. Forex Bastards is a front for a putz who has a relationship with many competing Introducing Brokers. It is a bigger scam than the "SCAMS" it reports on. The reviews you mention are written by people without the ability to form a coherent sentence, most likely authored by the putz who runs the site.

I am not sure what is worse, a forex broker that is a scam, or a scam site that is a scam.

Here is more information on the website you are referring to... /

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Quoting stockwet

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Well, I was gonna say something, but ... you say it so well!

The reason the person can't post a link here is because the site address has been banned from FF. I don't know of any other sites banned - I'm sure there are a few - but, it definitely says something.

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Quoting BurgerKing

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StrategyBuilderFX has withdrawn relationship with COES:

http://www.strategybuilderfx.com/showthread.php?t=17234

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Ok let’s get this story straight,
<o>

</o> First off SBFX business model is to connect (API) to our MT4 (yes, we own our own MT4 license, SBFX is not a white label) STP into reputable established FCM (clearing firms). Our requirements are simple, if SBFX can’t strike a deal giving our company and users some sort of distinct advantage we can’t do business with them. Good example of a distinct advantage is, The FCM (Clearing firms) does not have access to MT4 already or FCM (Clearing firms) can give us tighter spreads or cheaper fee for our users (similar to a high volume dealer) otherwise offering MT4 /to XYZ clearing firm would be useless, by nature traders’ are very acute and would know there is no difference in opening directly with the FCM leaving out the middle man mentality. This is a huge problem for IB’s, the FCM sets up IB as competitors, and it’s great for the FCM but not the IB) <o></o>

Ok that said you now know our business model and mission. Ok, so on to this COESfx story, about a year ago when SBFX first acquired MT4 license we approached a couple key FCM’s, one being COESfx. They were more than happy to participate so we asked our programmers to evaluate a COESfx SBFX-MT4 API, after a couple of weeks of researching and testing our programmers informed us it was vertically impossible to get MT4 to operate correctly into COESfx ECN so we moved on and started working on our other FCM choices. About 5 months later we received a call from COESFX rap (no names) informing us they had in fact built a fully operable MT4 ECN API and would be interested working with us to offer COESFX on SBFX site . At first we were very skeptical since our programmers already explained it could not be done and even more so when COESfx explained we would need to use another MT4 licensees server’ ( no names ) because the API would be too time consuming to replicate into SBFX MT4 server, but after COES assuring us that we would be the only firm offering full size accounts and at a discounted price over COESFX in-house platform and our other API projects were still in development, this COESfx didn’t look like a bad deal. So we agreed to run with it and see. It wasn’t long before we started running into trouble, accounts where taking weeks to get opened, we were hearing that reps at COESFX would tell clients they were having trouble with SBFX MT4 and needed to set them up under COESfx MT4 at no extra charge (also know as diverting clients, another big problem for IB’s) , the clients didn’t know better nor did they care who they opened through as long as they opened and can trade off MT4 / ECN. it didn’t take long when new accounts started to complain about the spreads and execution and worse off the costumer service, but do to COESfx opening the accounts unannounced to us we had no records of these clients having live accounts and since the clients thought they were trading on SBFX-MT4 they expected us to provide support. next red flag was spreads not being anywhere near typical ECN spreads so we stared to wonder if this third party MT4 supplier was actually going STP into COESfx ECN and proceeded to ask COESfx, again they responded with a of course we are STP we just need to added a pip to build in a profit. at this point we almost had enough of the games then the straw that broke the camels back was placed, OCESFX withdrew their FCM status and was starting a new clearing firm spotfx for some unannounced reason (COESfx response was it’s for tax reasons) at the same time we learned COESfx was actively recruiting IB and belatedly braking our exclusivity agreement, that was it we had it, more then enough problems with them and know we should end relationship ASAP. Ok that’s our story and stand by it 100% it’s a shame because of a few rouge reps who wanted a bigger peace of the pie. Ethics mean everything to us and if we can’t trust a partner there’s no way we can do business. I know will be attacked for this letter and even be called liars but think about it, we have nothing to gain and COESfx everything to lose. <o></o>

On to this MT4 STP ECN, Ill leave it up to other to learn the truth as far as we know MT4 is not capable of working off a ECN maybe they proved us wrong who knows, but adding all these spreads on top kind of kills the reason people would be interested in ECN in the first place. Again we must apologize to all our users especially the ones who tried opening in COESfx the delays’ and pore dealing was not from our side. <o></o>

SBFX <o></o>

Quoting BurgerKing

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Reason for SBFx withdrawal:

http://www.strategybuilderfx.com/sho...t=16691&page=7

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Quoting smjones

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I am sorry, but I am having a hard time with the authenticity of this letter... Scott

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