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How to reach the news faster.

Discussion in 'Forex Company Comparisons' started by JmzRodrigo, Sep 23, 2010.

  1. JmzRodrigo

    JmzRodrigo Recruit

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    Hi,

    I'm a trader for 5 years now, and so far I`ve not found a solution to get on top of the news release.

    Last month I signed up for Bloomberg Professional service, and neither with their plataform I get the data before the price starts to fly like crazy on an important report.

    Is there any1 who`s got a better service?
    Which is the best one?

    Thanks
     
  2. JmzRodrigo

    JmzRodrigo Recruit

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    Sorry flooding, but, none knows?
     
  3. FrankyW

    FrankyW Private

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    There is only one way! You should be the creator of news.:)
     
  4. JohnSkr

    JohnSkr Private

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    100% truth. Or you should have very influential friends in government as example:)
     
  5. WinFX

    WinFX Private, 1st Class

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    Everybody wants to get in right after the news. Therefore the price is flying up or down.
    All institutions are getting the news at the same time. And during important news releases there is hardly any liquidity at the time of the release because everybody is waiting for the outcome
     
  6. dafcreation

    dafcreation Recruit

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    @ JmzRodrigo forexfactory.com is the best site to get active news services
     
  7. Simon Edwards

    Simon Edwards Corporal

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    SNW (Fast Economic News / Secret News Weapon SNW) Does everything it says it does and does it very very well.

    The problem is finding a good brokerage that has little slippage and little requotes.

    I routineley get my trades in within less than a second of the trade release using SNW but get hit by requotes or bad slippage.

    If you have a broker that doesn't requote and has low slippage then you should do 2 things

    1) Sign up for SNW
    2) Tell me the broker ;)
     
  8. Chaz McHan

    Chaz McHan Corporal

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    No Slippage Broker

    The broker I use primarily is ACM in Geneva, Switzerland's largest forex broker. They have just got their full banking license, too, by merging with Swissquote Bank, Switzerland's largest online bank.

    Their reviews on FPA are not great... but I believe this is unfair. I have a suspicion as to how some of the reviews came about, but I don't really care enough to try to prove it, fight them or argue against them. Some of the reviewers are obviously... well... read for yourself and you'll see what I mean. They can't be taken seriously by people who know what forex is about.

    I have used ACM every day for more than 2 years, mostly scalping, with a very large-volume portfolio (millions under management).

    I have NEVER had a problem with slippage or re-quotes. Never. I have with every other broker. There is some spread-widening at times, however, but not usually more than a couple pips at most. Spread widens, by the way, as a result of liquidity drops, not directly because of anticipated news.

    They don't take counter-positions to their clients and don't make market.

    Their website states (I deleted most of the bullets and left the relevant ones to your question):

    • Spreads as low as 0.9 pip!
    • No commission whatsoever.
    • "WYCIWYG" (what you click is what you get). The price you click on is the price you're executed at, in other words, no slippage.
    • No request for quote (RFQ). Users click on a live streaming price feed, no requotes whatsoever even in fast markets, no timers and no dealer intervention, the only broker in the world offering pure one-click dealing. See execution methodology.
    • Guaranteed fills on markets orders during open trading hours.
    • 1% margin trading or 100:1 leverage.
    • No negative balances - limited risk. With ACM your risk is only limited to funds or deposit. Our unique, automatic margin liquidation policy eliminates concerns about debit balances by guaranteeing that you will never owe more than what you have in your account.
    • The most visited online fx dealer in the world.
    • Consistent liquidity under all market conditions. ACM works with only the top institutional liquidity providers in the world providing over 70% of worldwide foreign exchange liquidity on our platform.
    • USD 5'000 standard account opening, USD 250'000 institutional account opening.
    • 55 one click tradable currency pairs.
    • 24/24 hours online currency trading and phone dealing from Sunday to Friday.
    • Proprietary trading software, not rented or bought, guaranteeing the most competitive pricing and execution to our customers.
    • Instantaneous execution, no confirmation delays.
    • Integrated real time account management and reporting, margin analysis, P&L, deal confirmation, market analysis & back-office reporting marked to market every second.
    • Same conditions on demo and live platforms.
    • ACM regulated by the FINMA.
    • ACM audited by Ernst & Young.
    • ACM, ISO 9001 certified by SGS.
    • Extremely user friendly and fully transparent account statements.
    • Very rapid and discreet customer service.
    • More than 200 employees dedicated to providing the best service for customers.

    You can see the whole site at Online Forex Trading | Currency Trading | ACM.

    Note: I am NOT affiliated with ACM in any way whatsoever other than as a trader and external portfolio manager using their trading platform.
     
  9. Simon Edwards

    Simon Edwards Corporal

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    ""WYCIWYG" (what you click is what you get). The price you click on is the price you're executed at, in other words, no slippage."

    So during volatile moments ACM will fill my order with no slippage at all.....

    if a car maker states that their cars will never breakdown will you buy it ?


    There is always going to be slippage , how much is dependant on many factors and some of which can be manipulated by the broker
     
  10. Chaz McHan

    Chaz McHan Corporal

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    The truth is...

    I have traded on the platform for more than 2 years, every day, and I've never had slippage. I've gotten the price I've clicked.

    They have a scale, though, which widens the spread if your contract size is going to be larger... starting at above 5Million... but they clearly show what price they're offering when you click, and that's the price you get.

    To avoid this widening, you can just make 2 trades of 2.5 million in quick succession.

    Again, I am speaking to personal experience.

    I have written and spoken extensively about appropriate and inappropriate guarantees made by financial managers, so you are singing to the choir in principal... but this is not analogous to guaranteeing a car will never break down.

    They have a very serious legal and compliance department and monitor the wording of their own literature and those of their IBs and agents, external managers and traders very closely for ethics and compliance... this I know from the fine-toothed combing they gave some of the offering docs put out by a management company I traded for...and yet they feel justified in making such a statement - a guarantee, as it were, and answering for it.

    Yeah... even if I didn't have the personal experience to confirm it, I'd feel good about this claim of theirs. They have 200 employees, they are the largest Swiss forex brokerage, they aren't likely to disappear. I'd feel good about the claim, because I'd know that IF something "broke," as you say, they'd make whatever corrections would be necessary.

    For example: I had some issues a year ago with human error in their IT department which mis-entered my new contracted margin level, prematurely causing a margin call and loss on what, subsequent market movement showed, would have been a profit. Well, they were very accomodating and did not hesitate to make it right... at personal loss to them. That's why I don't understand why ACM has gotten such bad reviews here and another Swiss broker I have extensive experience with... BAAAD experience... is so highly regarded by the FPA reviewers.

    And by the way, I've had great experiences with FXCM, FX Pro (a market-maker), and Interbank FX, too. Just goes to show that people have different perceptions and experiences.
     

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