VStar
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- 21
My store begins with the horrible slippage that was suddenly happening with my broker . Where I was able to profit from the huge spikes that happened during announcement before to watching only the buy or ask line more 30, 40, or more pips.
They tried to just get me to go away with pat answers. I contacted my ISP and discussed Lag time issues. I bought a new computer.
Then finally they gave me the answer that liquidity is low during the summer months ? ( I really don't know how this can be with almost 4 trillion dollars changing hands every day. )
So then I went on to fight with my broker over the widening of spread. ( I'd really like to know if anyone else is seeing this at this time of year. My Broker is saying that people who are not seeing this have Market Makers for brokers .) Things like a sudden drop of 5 pips so the spread goes to 9 pips> NZD/USD,then, not changing till the price heads the other way. Stop losses being set for $351 but losing $1,325 !
Well here's the letter I just received and I thought this might be a good read for some, and maybe get some good comments.
The thing with spreads (at least, when trading through a genuine ECN/STP broker like ourselves) is that they represent the last Bid and Ask actually transacted, not what the next trade may be transacted at.
That's a prime difference between an ECN broker and a market maker.
If your friends are trading with other brokers then there are myriad reasons for them seeing different things - they may be trading with a market-maker (not all brokers admit to being MMs), their broker may be taking liquidity from a shallow pool, their broker might be relaying through another broker, their broker may have a slow feed, etc. - all of these things can affect trading conditions and, while they might seem helpful, they can also bite you in the backside. The forums are full of people shouting the praises of brokers for their tight spreads, non-existent slippage, etc., only to later post scam reports on FPA because they had profits recanted and/or were refused withdrawals.
As for our liquidity prices, they aren't seasonal - we get year-round deep-pool liquidity which works great for most people most of the time - we have some clients trading 250+ lots per position with no issues at all.
Our liquidity is provided from one of the deep pools at Integral so, under normal conditions, all majors and many minors have around 200 lots available at each point level but, since we are moving into the summer period, there is a noticeable thinning in that respect (especially with pairs like NZDUSD) which is totally out of our control.
They tried to just get me to go away with pat answers. I contacted my ISP and discussed Lag time issues. I bought a new computer.
Then finally they gave me the answer that liquidity is low during the summer months ? ( I really don't know how this can be with almost 4 trillion dollars changing hands every day. )
So then I went on to fight with my broker over the widening of spread. ( I'd really like to know if anyone else is seeing this at this time of year. My Broker is saying that people who are not seeing this have Market Makers for brokers .) Things like a sudden drop of 5 pips so the spread goes to 9 pips> NZD/USD,then, not changing till the price heads the other way. Stop losses being set for $351 but losing $1,325 !
Well here's the letter I just received and I thought this might be a good read for some, and maybe get some good comments.
The thing with spreads (at least, when trading through a genuine ECN/STP broker like ourselves) is that they represent the last Bid and Ask actually transacted, not what the next trade may be transacted at.
That's a prime difference between an ECN broker and a market maker.
If your friends are trading with other brokers then there are myriad reasons for them seeing different things - they may be trading with a market-maker (not all brokers admit to being MMs), their broker may be taking liquidity from a shallow pool, their broker might be relaying through another broker, their broker may have a slow feed, etc. - all of these things can affect trading conditions and, while they might seem helpful, they can also bite you in the backside. The forums are full of people shouting the praises of brokers for their tight spreads, non-existent slippage, etc., only to later post scam reports on FPA because they had profits recanted and/or were refused withdrawals.
As for our liquidity prices, they aren't seasonal - we get year-round deep-pool liquidity which works great for most people most of the time - we have some clients trading 250+ lots per position with no issues at all.
Our liquidity is provided from one of the deep pools at Integral so, under normal conditions, all majors and many minors have around 200 lots available at each point level but, since we are moving into the summer period, there is a noticeable thinning in that respect (especially with pairs like NZDUSD) which is totally out of our control.