IC Markets Slippage Grey Hairs - Page 2
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Thread: IC Markets Slippage Grey Hairs

  1. #11
    Seems like Obama and That I use the same broker

    PC

  2. #12
    I am additionally limit order trader. If you find some superior broker do allow me to know.

  3. #13
    Quote Originally Posted by ;
    Hi there, I'm getting gray hairs over IC Markets. I am really gray. I exchange standard lots and utilize pending orders at amounts (). I thought IC Markets was suppose to be a direct ahead broker and hence I have been with them sometime trading an ECN account. What I witness day in and day out is that 90 percent of the time I get slipped real poor (2-3 pips) and (strange enough) always in the favour of IC Markets, meaning 90% of my trades I loose more or gain less than I should have. I am not talking about news events, high volatile trading...
    same on EU, if you exchange XAU/USD would be worse...
    e.g. if buy $1162 SL $1160 will hit and actually shut at $1159 or $1158.8
    TP $1170 may hit and acutally near at $1169.80

    I email them and they stated it was due to LP price feed

  4. #14
    Slippage is not anything new with these brokers such as IC Markets or some of those tiny deposits-huge leverage brokers as they are NOT real ECN brokers. They claim they are STP, DMA, agency-model, ECN or some of those terms but in fact they are still MM brokers in disguise. They stand in between you and the liquidity suppliers and don't actually send your orders directly to the liquidity suppliers to be implemented. I don't know exactly how they operate but I suspect that if you put in an order, you are really trading on some sort of internal ECN of this broker NOT actually the interbank market constituted of those liquidity suppliers with those shiny logos which scroll across the bottom of their webpage such as Citi, UBS, Deutsche (It's simply not possible that Deutsche will be executing our 1K microlot orders regardless of how much we wish for it LOL) like what they opinion on you and then they turn around and hedge your transactions with the liquidity suppliers so that your order is implemented on the interbank market in a way but through them and they earn a spread between the price they filled your order and the price they obtained their hedging order implemented by the liquidity provider hence the slippage. So they are basically Oanda or FXCM in a different form. Nothing wrong with being Oanda or FXCM really because many traders trade with MM type brokers and are quite happy with them BUT they should create their true nature known instead of hiding behind the new ECN, STP, DMA when they are actually market makers so the traders who really want to trade on TRUE ECN kind brokers don't waste their time with them. And this is particularly true when you trade CFD's on oil, gold and indexes when they even say they are the issuer and hence the market makers of those tools UNLESS you trade the REAL ones around the exchanges such as the ASIX.

    If you would like virtually no slippage as well as favorable slippages lots of the times, I'd advise you to look to trade with greater purer ECN brokers such as Interactive Brokers, LMAX, LCG and etc.. Despite Interactive Broker's dreadful in-house trading platform and poor charting appliions, its execution is quite decent, super quick and very little slippages. The rest of the brokers' really offer much better platforms such as HotSpotFX and but their minute. Deposit is quite steep. There's really a very simple way to test whether a broker is a true ECN broker or not believe that you just post a limit order in between the bid-ask spread and in the event that you really see your order showing up on the quote screen and really narrowing the spread then you know that you are managing a true ECN because that means that your order is observable to all and can really be executed. To put it differently, you've actually become a liquidity provider yourself. Authentic ECN brokers would let you become liquidity suppliers and brokers such as MB Trading also allow you to earn commissions if you supply liquidity to the market. But in the event that you never see your limit order showing up there then you know that you are handling an Oanda. My order ALWAYS showed up in the quote display in their albeit dreadful TWS.

    But all those pure ECN brokers require much higher minimal deposit with 10K enjoy in Interactive Broker's case which makes sense. If you want to participate in the interbank market right against banks such as Deutsche, a business which has $Trillion of assets, just how are you going to get it done with only microlots and $500 deposit in spite of higher leverage.

  5. #15
    Quote Originally Posted by ;
    Another instance several mins ago: SL @ 0.5 pips. Stopped out at - 0.5 pips. = Missing 0.5 pip rather than gaining 0.5 = Net loss 1 pip (IC Markets gain 1 pip?! Plus their commisions) Dont need to become a rocket scientist to start wondering.... PC
    How big is the order. 100 lots?
    At any broker, when lots increase, slippage increase.

  6. #16
    Quote Originally Posted by ;
    Slippage is not anything new with those brokers such as IC Markets or any of those tiny deposits-huge leverage brokers since they're not real ECN brokers. They claim they're STP, DMA, agency-model, ECN or any of those terms but in reality they're nevertheless MM brokers in disguise. They stand in between you and the liquidity suppliers and don't really ship your orders directly to the liquidity suppliers to be implemented. I don't know just how they operate but I suspect that if you put in an order, you are really trading on some type of internal...
    thanks for your words, LMAX is on my list but they do require high deposit with reduced leverage.
    LMAX has very limit info available on their web, looks like I want to discover more.

    BTW, is LCG=london capital group?

  7. #17

  8. #18
    Quote Originally Posted by ;
    quote which broker you suggest for trading?
    Interactive Brokers provided that it is possible to stand their trading platform TWS and you need to find your own charting package. The MultiCharts they offer still stinks missing a lot of important basic indiors and all.

    LMAX

    LCG= London Capital Group

    Baxter FX

    Interactive Brokers has the smallest min. Required equilibrium so if that's your main concern, Interactive Brokers will be your very best option. Their execution is actually good with almost zero slippages and many times favorable slippages even through news time. I've traded with them through NFP times and they stuffed me 20 pips better than my TP goal!! And also during news time, their spread hardly widen and if they do widen, they broaden only for few seconds! And they process your deposit/withdraw fast. They're the closest to your usual bank or internet stock broker such as TD Ameritrade and etc. among all of the forex brokers which I traded with. Like I said, the only issue with Interactive Broker is trading platform and clueless incompetent customer service. There is very little hand-holding for new traders. They simply give you a paper trading account for 30 days to become familiar with their HORRIBLE user-unfriendly trading platform TWS and that's it. After that, you are basically on your own.

  9. #19
    Quote Originally Posted by ;
    MT4 or C traders ?
    BOTH

  10. #20
    But in case you've bit more money to spare, then you can go with LMAX, LCG and Baxter FX and attempt their PoP services. You get a number of trading platforms and information feed to select from AND all of them are nice and you may create your own spread with the multiple information feed in your hands and be liquidity providers yourself. I'd stay away from their MT4 platforms as both LMAX and LCG do provide it too. And their min. Required equilibrium for their MT4 accounts are of course much lower but then again you're back to square one of conducting the risk of not trading on the interbank market again.

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