marsh56
Private
- Messages
- 23
I would like to chime in here and briefly mention my poor experience with IKON Royal as well.
1. One item of curiosity is that apparently IKON Royal and Tradeview Forex are part of the same larger company. I know this to be true because one would not allow me to open an account when they found out I had an account with the other.
I find it strange that a company would have two divisions competing with each other.
2. Back a few months, I was trading a well-known MT4 Expert Advisor with IKON and was doing quite well over a 30-day period. The max spread needed for this EA was 4 pips.
Suddenly, the spread increased to 5 pips during the time that the EA traded! When I questioned them, they said it had nothing to do with the EA. Sure.
Now here's where it got interesting. Using MT4, the price feed in the Market Watch showed the 5-pip spread, yet the price on the chart showed a 4-pip spread.
When questioned, their tech guy said that this was common with MT4 and that the price in the Market Watch applied.
The funny thing is that is simply not true. I have many other live accounts with other brokers and the prices on the charts ALWAYS agree with those on the Market Watch.
Personally, I don't trust any brokers with a dealing desk model. There is too much room for funny business. For both manual trading and EA trading, I use Gallant FX because they are one of the few brokers that provide STP processing.
That way I know the prices are accurate and that the broker is not trading against me.
It would be a good thing if the NFA and CFTC would clamp down on these bucket shops instead of trying to "protect" us from ourselves.
Mark
1. One item of curiosity is that apparently IKON Royal and Tradeview Forex are part of the same larger company. I know this to be true because one would not allow me to open an account when they found out I had an account with the other.
I find it strange that a company would have two divisions competing with each other.
2. Back a few months, I was trading a well-known MT4 Expert Advisor with IKON and was doing quite well over a 30-day period. The max spread needed for this EA was 4 pips.
Suddenly, the spread increased to 5 pips during the time that the EA traded! When I questioned them, they said it had nothing to do with the EA. Sure.
Now here's where it got interesting. Using MT4, the price feed in the Market Watch showed the 5-pip spread, yet the price on the chart showed a 4-pip spread.
When questioned, their tech guy said that this was common with MT4 and that the price in the Market Watch applied.
The funny thing is that is simply not true. I have many other live accounts with other brokers and the prices on the charts ALWAYS agree with those on the Market Watch.
Personally, I don't trust any brokers with a dealing desk model. There is too much room for funny business. For both manual trading and EA trading, I use Gallant FX because they are one of the few brokers that provide STP processing.
That way I know the prices are accurate and that the broker is not trading against me.
It would be a good thing if the NFA and CFTC would clamp down on these bucket shops instead of trying to "protect" us from ourselves.
Mark