Broker Price Manipulation? - Page 3
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Thread: Broker Price Manipulation?

  1. #21
    sesntesnd_sesd
    Guest
    Quote Originally Posted by ;
    Refco and FXCM wasn't at bad as you guys think. I utilize Refco. Today I've entrance order Sell GBP 1.8323 SL 1.8353. This order got implemented and at a minute went reverse and struck stop loss of 30 pips. About Oanda and Metatrader charts price didn't go below 1.8338. I assessed a chart with data source from refco and discovered there was a significant spike down to 1.8315. I immeadetly had a conversation with refco guys and disputed concerning the spike that only appeared in their charts and non from others brokers. I also gave him the ticket number of my order. Support guys explained they would explore the problem and call me back. After an hour I got a call out of Refco telling me they had reverse the order and place the money back in my account. That was pretty neat. I've found out that if they screw up they fix it.

    I dont know why they had a spike but should you find something isn't right with your order, have a conversation with support and ask for explanation. You can even request for official price quote for a specific time previously.

    Regarding the straddle statergy, I've got diffrent responses from diffrent support guys. They generally dissuade you from straddling but they dont prevent you from doing it.

    Mkcky
    they might not stop you from straddling, but they beat your confidence on this egy. Next time maybe they won't refund you when you wish and you will earn a huge loss. Are you convinced you are able to get your money back if they deny to? You have to consider this risk, if you're playing serious money.

    I noticed what occurred in FXCM on yesterday's'misquote' or'manipulate', whatever it was. I exchange at CMS. CMS expands the space of stop loss order or stop entry order, from previously 5 pips to current 25 pips, prior news. By way of instance, if you buy cable in 1.8370, then you have to set stop order below 1.8345, or the current price is 1.8280, then you have to place stop entrance buy order over 1.8305. That's one of the way to dissuade traders to straddle. Another way of CMS is its own server will routinely get down around news. Yesterday I purchased cable in 1.8371. When the price hurried to 1.8430 , I had been kicked out by CMS' server. I could not log in before the price dropped back into 1.8390-.

  2. #22
    EsrcaNurCo
    Guest
    Quote Originally Posted by ;
    at 8:25 I placed 2 orders
    buy at 1.8414 SL 1.8396
    sell at 1.8761 SL 1.8376
    wow, suppose you mean 1.8361?

  3. #23
    EsrcaNurCo
    Guest
    [quote=Hayek]Another method of CMS is that its own server will frequently get down to news. QUOTE]
    Only if it's bad news, certainly?
    Sorry.

  4. #24
    EsrcaNurCo
    Guest
    Maybe this really is the way forward.
    What I can not understand is the 1) the claim that FXCM have many associations as their clientele and 2) they are regulated by the FSA in the united kingdom.
    Can't square these with recent facts. Surely if they are quit searching their quotes so aggressively then they can not be labelled'brokers' and must instead be called the'bookies' they are. In the event the law is vastly different. Anyone know how, on its face, they differ from, say CMC?
    If they're FSA regulated then surely, horror of horrors, which means any broker can quote whatever price they please and reductio ad absurdum you may as well hand over your account now to save time.
    I always believed that price quoting using inside knowledge, ie your customers rankings and how you'd benefit from certain movements, would be prohibited? I feel just like tabling a question.

  5. #25
    EsrcaNurCo
    Guest
    Here is a dump of the CMC ( deal4free ) spread-bet prices for your GBPUSD cash for this period.
    Not much better, it seems.

  6. #26
    jdesyzesSeswz
    Guest
    I have my cmc forex account handy and they didn't have that spike seconds before or after the news. It only zoomed up right away then fell a moment afterwards like everybody else.

  7. #27
    EsrcaNurCo
    Guest
    FX or gambling?
    Can not they actually do two seperate accounts?
    You can understand the betting quote moving nuts in volatile states, just as in-running stakes on the footy go wildly up and down. That's the nature of gambling.
    However, not'proper' FX... my debate is FXCM seem to want it both ways: bookie and broker but we get neither benefit.
    I actually can't dissuade myself from utilizing the bookie for moderate position trading; excepting announcements and other extraordinary occasions you are not worried about quotes varying - 10 beyond the spread ( which is the worst I've seen, normally 2 or 3 along with the spreads themselves are competitive, better in many instances ).
    The key factor is it's tax-free. So you have to make 40% better on underlying FX before you are even. FORTY percent!!
    Just be sure to be out of trend positions during announcements to avoide daft stops.
    Assuming you don't plan to come out down for the tax season, of course
    CMC do OCO stop/limits as well now so even the platform is currently advancing.

  8. #28
    jdesyzesSeswz
    Guest
    I really don't use anything or stops OCO . I buy and sell manually at least then I control my fate. I really don't miss out on news because I use the options system for that. This leaves me free hands to attempt and ch what I can manually through news. CMC FX are is the toughest to make money in. I doubled my account elsewhere in a few months but can not get away from break even in CMC. That speaks for itself. I attempted buying/selling spikes in FXCM but you never get given them so yeah it must be for the benefit of stop clearing. You can not really blame them in a way as they are there to make money since they take all of the risk. How do they place a 10000 trade to the market? Sure once you talk about a thousand then you've got a case but if you trade that big then join a bank. That is my goal, but until I do I will tread quite carefully and trade only.

  9. #29
    Gis69
    Guest
    Quote Originally Posted by ;
    Vdeluca:


    Great find.

    Rather Interesting. I just called them and talked to the rep. They have been open to people for about 1 year. Quotes are straight from the banks. Spreads are 1-2 pips (and according to the rep, occasionally there is no spread - bid and ask prices are the same). They make their money by charging a round turn commission of $20 per lot (equal to 2 pips).

    According to the rep, brokers absolutely do manipulate their prices. I am not saying any particular broker does so, but in line with the COEfx rep, there is no doubt that this happens. Since COESfx is not a market maker and does not have a trading desk, there's not any manipulation or fitting. The price you purchase is that the price quoted by the banks. Conventional accounts take a minimum of $10,000 to start (no more minis). They've no issue whatsoever with entrance orders (straddles) around data launch occasions. I intend on trying one of their demos.

    If anyone has had any direct dealings with the company, please let us know.

    CA1962
    I had the Identical problem with GBP this week with OANDA. I've had similar trouble previously with OANDA. I'm agressively looking for a different and have just begun looking at COESfx - want to test their presentation for a short time. Curious to know if there are any other systems out there worth reviewing.

  10. #30
    gCayes
    Guest
    I heard back from FXCM last night. Even though they confessed a misquote, the very best they would do is put my reset my P/L to zero. Even though my Entry Order to market GBP/USD should not have been implemented @ 8:31 AM with this ghost price dip (then subsequently stopped out for a reduction on the return up), and even though they agreed that my order shouldn't have been implemented until 8:41 AM on the move back down (in the case I'd still be in this commerce and up over 100 pips a lot), they stated they couldn't give me any profit at all because they had no way of knowing when I'd have exited the trade. When I pointed out that the price moved straight down from my entry by roughly 90 pips, SETTLED there, rather than moved back up, no volitility, no whipsaws, and asked whether it was reasonable to conclude I would have at least taken SOME profit, he did not have a response. The best they could do was eliminate the initial loss and basically pretend the trade never happened. Pathetic. I'm really pissed off, and my search for a different broker will start now.

    I have no issue with brokers who who not let enrty orders (straddles) before major news announcements, provided that they make this crystal clear and say so upfront. What I do have a issue with are ghost price moves which are done with the obvious intent of conducting ceases and discouraging straddle trades.

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