Resolved: Trade.com - price manipulations detected

Malaksen

Private, 1st Class
Messages
35
I really considered this broker for CFD trading and registered a demo here. But even at this stage these guys managed to screw up.
The several things I was checking were licensing, regulations and the quality of the market data. All seemed to be fine with the first two points, but the quality of the market data assured me it's better to avoid trading with Trade.com.
I asked a friend of mine that trades futures with a CQG market data provider to send me over a detailed 1H chart for the asset of his choice. He sent Light sweet crude oil futures (CL ticker at CQG) chart.
I found Light Sweet Crude Oil at Trade.com and compared the two charts. There was a 0.3 points difference in the price of the same asset, which is unbelievably much of a discrepancy, speaking of data quality.
I strongly suggest to avoid the broker for this reason!
 

FxMaster

Lt. Colonel
Messages
9,534
I really considered this broker for CFD trading and registered a demo here. But even at this stage these guys managed to screw up.
The several things I was checking were licensing, regulations and the quality of the market data. All seemed to be fine with the first two points, but the quality of the market data assured me it's better to avoid trading with Trade.com.
I asked a friend of mine that trades futures with a CQG market data provider to send me over a detailed 1H chart for the asset of his choice. He sent Light sweet crude oil futures (CL ticker at CQG) chart.
I found Light Sweet Crude Oil at Trade.com and compared the two charts. There was a 0.3 points difference in the price of the same asset, which is unbelievably much of a discrepancy, speaking of data quality.
I strongly suggest to avoid the broker for this reason!
Did you talk with the broker regarding this?
 

Clay Davidson

Recruit
Messages
80
I really considered this broker for CFD trading and registered a demo here. But even at this stage these guys managed to screw up.
The several things I was checking were licensing, regulations and the quality of the market data. All seemed to be fine with the first two points, but the quality of the market data assured me it's better to avoid trading with Trade.com.
I asked a friend of mine that trades futures with a CQG market data provider to send me over a detailed 1H chart for the asset of his choice. He sent Light sweet crude oil futures (CL ticker at CQG) chart.
I found Light Sweet Crude Oil at Trade.com and compared the two charts. There was a 0.3 points difference in the price of the same asset, which is unbelievably much of a discrepancy, speaking of data quality.
I strongly suggest to avoid the broker for this reason!
The advise above to contact the broker on the issue is actually the best idea.
Apart from that, can you please attach some screenshots? I hope you saved some.
There are many different oil contracts that one can trade, perhaps the cause of the discrepancies that you've noticed can lie in this field.
 

Malaksen

Private, 1st Class
Messages
35
Sure, no problem.
Here is the trustworthy market data. Pay attention to June 15th low. 34.68
Real Futures Market Data.png
And here is Trade.com market data for CFD on the same asset. I'm pretty sure there aren't too many light sweet crude oils that you can trade. CFD must EXACTLY copy the price of the parent asset, which is CL from the above screenshot. Pay attnetion at June 15th low here. I've marked it with a blue horizontal line. Its 34.30 for trade.com CFD!
Trade.com market data.png
 

FxMaster

Lt. Colonel
Messages
9,534
Sure, no problem.
Here is the trustworthy market data. Pay attention to June 15th low. 34.68
View attachment 55178And here is Trade.com market data for CFD on the same asset. I'm pretty sure there aren't too many light sweet crude oils that you can trade. CFD must EXACTLY copy the price of the parent asset, which is CL from the above screenshot. Pay attnetion at June 15th low here. I've marked it with a blue horizontal line. Its 34.30 for trade.com CFD!
View attachment 55179

Can you reply to my question, please?
 

Clay Davidson

Recruit
Messages
80
Sure, no problem.
Here is the trustworthy market data. Pay attention to June 15th low. 34.68
View attachment 55178And here is Trade.com market data for CFD on the same asset. I'm pretty sure there aren't too many light sweet crude oils that you can trade. CFD must EXACTLY copy the price of the parent asset, which is CL from the above screenshot. Pay attnetion at June 15th low here. I've marked it with a blue horizontal line. Its 34.30 for trade.com CFD!
View attachment 55179
Pay attention to the volumes. At a CQG chart the volumes get bigger closed to the recent data. That's because you friend has sent you non-adjusted data. The most recent contract only, which is an August delivery futures. It's traded actively in the end of June-July, that's why there wasn't much volume there in May and the beginning of June. If your friend trades intraday, that's fine for him to use a single contract data. However for hourly charts futures traders normally watch continuous charts with back-adjusted data.
CFDs are based on continuous back-adjusted market data, this is why you see the difference in prices. Nothing is wrong with Trade.com and the data it provides.
 

Malaksen

Private, 1st Class
Messages
35
Did you talk with the broker regarding this?
I haven't, to tell the truth. I just wanted to warn the fellow traders about the potential danger. Sorry to have caused this much of a trouble, but it looks me conclusions were premature. The explanation about non-adjusted data sounds to be true so please mark the issue resolved. Thanks in advance for the understanding! I apologize once again for the false claim, I just wanted to be helpful to trading community but looks that I draw my conclusions too quickly.

Pay attention to the volumes. At a CQG chart the volumes get bigger closed to the recent data. That's because you friend has sent you non-adjusted data. The most recent contract only, which is an August delivery futures. It's traded actively in the end of June-July, that's why there wasn't much volume there in May and the beginning of June. If your friend trades intraday, that's fine for him to use a single contract data. However for hourly charts futures traders normally watch continuous charts with back-adjusted data.
CFDs are based on continuous back-adjusted market data, this is why you see the difference in prices. Nothing is wrong with Trade.com and the data it provides.
Thanks for bringing some light on the issue! I've heard futures brokers have got much more reliable data than forex and CFD data providers but I didn't realize there were so many details to consider. Thanks indeed for pointing this out and sorry for all the trouble! I should have done a better research myself.
 

FxMaster

Lt. Colonel
Messages
9,534
I haven't, to tell the truth. I just wanted to warn the fellow traders about the potential danger. Sorry to have caused this much of a trouble, but it looks me conclusions were premature. The explanation about non-adjusted data sounds to be true so please mark the issue resolved. Thanks in advance for the understanding! I apologize once again for the false claim, I just wanted to be helpful to trading community but looks that I draw my conclusions too quickly.


Thanks for bringing some light on the issue! I've heard futures brokers have got much more reliable data than forex and CFD data providers but I didn't realize there were so many details to consider. Thanks indeed for pointing this out and sorry for all the trouble! I should have done a better research myself.
You must write to broker too to get the reply from their ends.
 

Clay Davidson

Recruit
Messages
80
I haven't, to tell the truth. I just wanted to warn the fellow traders about the potential danger. Sorry to have caused this much of a trouble, but it looks me conclusions were premature. The explanation about non-adjusted data sounds to be true so please mark the issue resolved. Thanks in advance for the understanding! I apologize once again for the false claim, I just wanted to be helpful to trading community but looks that I draw my conclusions too quickly.


Thanks for bringing some light on the issue! I've heard futures brokers have got much more reliable data than forex and CFD data providers but I didn't realize there were so many details to consider. Thanks indeed for pointing this out and sorry for all the trouble! I should have done a better research myself.
No problem. Was glad to help out and bring some light on the issue!
However, I'd suggest following admin's advice just in case.
Trade safe!
 
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