Decent Brokers during High Market Volatility

Quote from def:

The banks making the markets as well as clients who may post a better market. In essence we are just acting like an ECN.
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I understood the only bank really supporting the price was Bear Stearns? Is that wrong?
 
IB problem, if you had upgraded your system, then I'm sorry.
IB TWS server is not up 24 hours. There's some [maintenance hours] depends on US, European or HongKong server you chose to connect. This is fatal to deal forex market obviously.
 
Quote from sccz97:

I'm looking to sign up to a new broker and have come across a few that on the surface look like they meet my requirements. I book most my trades in a fast market so need a broker with more flexibility wrt to how it handles trades during high market vol. Also, speed at which trade is accepeted and confirmed is very important.

The few that I'm looking at are:
1. IB
2. SaxoBank
3. FXTrade.net
4. CMS-Forex

The reasons for my initila selection of these are as follows
IB
--
1. Relatively good comments from the users here on ET.
2. API allowing me greater control and decision making during fast-moving markets.
3. However I'm unsuse as to why commission is charge on forex .. isn't the spread enough?

Saxo
------
1. Recommended on a few large web sites.
2. Good spreads
3. High autoexecute notional (i don't want the trade delayed via dealer intervention)

FXTrade.NET
----------------
1. 2 pip spread on majors
2. 500:1 margin
3. No slippage on market orders
4.

Seems too good to be true frankly and
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Can't find anything on FXTrade.NET om Google. Strange.
 
Quote from sccz97:

I'm looking to sign up to a new broker and have come across a few that on the surface look like they meet my requirements. I book most my trades in a fast market so need a broker with more flexibility wrt to how it handles trades during high market vol. Also, speed at which trade is accepeted and confirmed is very important.

The few that I'm looking at are:
1. IB
2. SaxoBank
3. FXTrade.net
4. CMS-Forex

Sccz97, this is interesting post. I must say you made very good selection of brokers. But my impression was that you already are a customer of IB, or at least that what you said here:

....."Did this a few times and I eventually ended up with ib, and while their supposed ecn model isn't 100% to my satisfaction (not to mention the strange socket api method) I am very happy with them and can see that my strategy will not be something that will cause ib to shut my account down".....

Here is the link: http://www.elitetrader.com/vb/showthread.php?threadid=62066&perpage=6&pagenumber=6


So where do you stand?
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Quote from sccz97:

many thanks. I'm currently testing out interbankfx and while it's early days, it seems sufficient.
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Above you seem to be testing interbankfx, but bellow:

"either I've been a victim of some serious individual pricing or ibfx really isnt worth looking as. On most days when volatility gets to a certain level the spreads go wild. eurodollar freq goes from 2 pips to 8 pips. Admittedly I sometime take advantage of the slow feed they have but to continually push the quote against me 1 pip each second for half a minute is out of order. I can show you the graphs stored on my machine to prove it. As this didn't scare me out of closing the position, they promptyl increased the spread to 12 pips at which point i looked for the first chance to close out flat. I must say howver that this doesn't happen to most clients but please bear in mind that if a broker is willing to do this to one client, then none of you are safe".


and again:


"Here's a snapshot of the offending chart. I have friends using ibfx as well and their charts look totally different to mine. And the fixed spreads promise is garbage. eur spread regularly blows up htroughout the day and almost always now around figures. Imho, ibfx is a fine so long as you trade only a few times a day, holding positions for at least a few hours. That way you're unlikely to be worried about the odd pip here and there."


So you have account with them or are you testing them??
 
Quote from sccz97:

I'm looking to sign up to a new broker and have come across a few that on the surface look like they meet my requirements. I book most my trades in a fast market

FXTrade.NET
----------------
1. 2 pip spread on majors
2. 500:1 margin
3. No slippage on market orders
4.

Seems too good to be true frankly and
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FXTRader.net are fraud and are not able to pay their clients,
even lose clients info including balance:
Reply to money withdrawal

"Thank you for your email - unfortunately we no longer have access to old FX accounts including yours...

Philip Nieuwoudt
Office: +27 11 881 5837
Fax: +27 11 881 5611
Mobile: +27 82 440 4618
http://www.fxtrader.net"

You will not be able to trade in volatile markets with them - they will just pocket your money, as their web site says:

Anti Scalping Regulation

The low-spread policy and hedging technology used by FXTrader.net are unable to eliminate effectively all risks of trading strategies known as "scalping". Taking into consideration this fact FXTrader.net does not
provide its services to traders using such strategies.
All FXTrader.net trades get send to the INTERBANK - If clients make misuse of our low spread and use it to make profit only on the spread FXTrader.net reserve the right to cancel all profits that was not cleared by the INTERBANK.

james
 
Quote from Eagle Eye:

Quote from sccz97:

I'm looking to sign up to a new broker and have come across a few that on the surface look like they meet my requirements. I book most my trades in a fast market so need a broker with more flexibility wrt to how it handles trades during high market vol. Also, speed at which trade is accepeted and confirmed is very important.

The few that I'm looking at are:
1. IB
2. SaxoBank
3. FXTrade.net
4. CMS-Forex

Sccz97, this is interesting post. I must say you made very good selection of brokers. But my impression was that you already are a customer of IB, or at least that what you said here:

....."Did this a few times and I eventually ended up with ib, and while their supposed ecn model isn't 100% to my satisfaction (not to mention the strange socket api method) I am very happy with them and can see that my strategy will not be something that will cause ib to shut my account down".....

Here is the link: http://www.elitetrader.com/vb/showthread.php?threadid=62066&perpage=6&pagenumber=6


So where do you stand?
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am only using ib from the above list. Am not happy with their socket api and will be paying for the direct connection to the server. I can't stand the tws application, java sucks
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