ACM is 5 pips on majors, not 3... (std accts)

Quote from late apex:

You are thinking of one particular textbook example of arbitrage (3 securities), assuming a perfect, idealized, ivory tower market. In the real world, even 2 securities is not necessary. Scalping 1 currency pair with accounts at 2 dealers, or even 2 accounts at the same dealer, also falls under arb.
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<b>Many thanks for replying</b>,

I will ask them to confirm that.

I wonder what makes a broker decide that it was arb?
 
late apex is correct, thats price / quote arbitrage on a given currency pair, that they are referring to

am amazed the ACM guy put that down in writing though... that wldn't help them too much should a client bring a case against them before a fair trade commission type court... mmmhhh... lemme think... i have a documented $35K claim against them (got deprived of 17-18 pips over a gbpusd20mio pozzie) - no hard feelings but... - , a mate of mine experienced a similar $15K 'surcharge' against him 2 days ago... anybody else??

if there is enough to claim back, even if forex is largely unregulated in Switzerland, i know the Swiss authorities are reasonably responsive, perhaps we cld jointly attempt sthg...
 
I doubt you would have a leg to stand on.

I had an account open with them for about a week a few years ago unti l closed it.

At the times their terms and conditions said they had the right to change any trade up to 48 hours after it has been carried out. It also stated that if you wanted to query any trade on your accont then this had to be done within 30 minutes of the trade being posted......
 
"When our dealers identify a customer who consistently avoids paying his spread (by picking / arbitraging prices), they switch him to another system which takes the exact average difference in pips being picked off the spread by the client and charges it on top of the spread."

(from ACM customer service online chat)

Quote from 2cents:

am amazed the ACM guy put that down in writing though...
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I have to agree... really surprising to see that (presumably canned, ready-made) reply.

Especially since all money_trader asked was, "Is 'scalping' allowed?" A broad, softball question, if you think of it. "James" could've gone anywhere -- or nowhere -- with it.

How does that disclosure beneift ACM?
 
Quote from late apex:


I have to agree... really surprising to see that (presumably canned, ready-made) reply.

How does that disclosure beneift ACM?
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Yes, that was the second time I received the reply in exactly the same wording, only from a different rep.
At least they were honest and said it.

What I am worried is objectivity, as it's difficult to decide sometimes if a trade was arbitraged or not, it may be just an excuse not to pay trader his money.
I also think that there is nothing wrong with this type of arbitraging, for example Oanda doesn't object to it.

Anyway one cant 'avoid paying spreads' this way.
 
Quote from Lon Eagle:

I doubt you would have a leg to stand on.

I had an account open with them for about a week a few years ago unti l closed it.

At the times their terms and conditions said they had the right to change any trade up to 48 hours after it has been carried out. It also stated that if you wanted to query any trade on your accont then this had to be done within 30 minutes of the trade being posted......
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agree but one cld create a nice PR mess for them - simply by showing that ACM doesn't hesitate to offer wildly different prices away from market to different customers at the very same time, and over long periods of time (hours actually, if one is willing to wait that long) - that cld maybe spur them into seeking an out-of-court settlement to end matters quick...

anyway, your right, i am not really thinking of spending too much time on that sort of stuff, just thot i'd ask around, see who else has had similar experiences with them

what happened in yr case? did you hit them hard on figures or sthg like that? ;-)
 
Quote from money_trader:

What I am worried is objectivity...
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forgit objectivity pal! if your a swing trader, or yr trading pattern at ACM looks like that of a swing trader, u have nothing much to worry about. if your a scalper, and they find out, u've been warned, its that simple!
 
Quote from 2cents:

agree but one cld create a nice PR mess for them - simply by showing that ACM doesn't hesitate to offer wildly different prices away from market to different customers at the very same time, and over long periods of time (hours actually, if one is willing to wait that long) - that cld maybe spur them into seeking an out-of-court settlement to end matters quick...

anyway, your right, i am not really thinking of spending too much time on that sort of stuff, just thot i'd ask around, see who else has had similar experiences with them

what happened in yr case? did you hit them hard on figures or sthg like that? ;-)
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Not at all. Just trading normally and found the WUSIWUG (or however they phrase it) was rubbish. Used to get fills that weren't what i had hit because somehow there would be a delay between me sending the order and them receiving it! Funnily enough it never worked in my favour!
 
they must have improved then, i've had situations of 1 pip slippage in slo mo mkts, fairly rarely, perhaps 2 pips in faster moving mkts once or two in 12 months, but as often in my favour as in theirs to be fair... until they decided to systematically shift the spreads against me on trade exit, no matter what size, figures or not figures etc, back in mid-2005...
 
What happens with AC Markets if you put in a tight order before a news release and the price shoots in your favour ?

They promote WYCIWYG and no slippage in all market conditions, just wondering what happens, in reality.

What is their technique with Spread Widening ? Does this only happen when you are actually in a position ?
 
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