FXCM proving what TRASH it is, once again.

I'm looking for a forex broker and I definitely won't be considering FXCM anymore. Thanks for the info, crude remarks and all.

One question though. I get FXCM and Barclays data through IQFeed and I haven't noticed FXCM's prices sticking. I admit I haven't watched it too closely. But, I haven't seen anything obvious. Does this happen at certain times more than others?

-Bluelou
 
Quote from bluelou:

I'm looking for a forex broker and I definitely won't be considering FXCM anymore. Thanks for the info, crude remarks and all.

One question though. I get FXCM and Barclays data through IQFeed and I haven't noticed FXCM's prices sticking. I admit I haven't watched it too closely. But, I haven't seen anything obvious. Does this happen at certain times more than others?

-Bluelou
More...
It is random whenever it happens, and something I notice maybe once every 8 months or so. Sometimes the prices are executable and sometimes they aren't. But when they are executable you can get some sneaky fills in place if diligent.
 
ScapGF,
One more question for you...

I've been trading mostly FX futures and I'm just looking to try out trading FX spot at this point in time. I was thinking of using Amp since they offer both forex and futures and b/c they meet some other criteria I need.

I know that they're just offering Gain Capital + about a 1/2 pip. I don't mind the wider spread since I'm just trying to get a feel for trading spot right now.

Is there anything about using Gain as a set of training wheels that I should know about? I've tried searching on ET but haven't seen much about them. I know they're well-capitalized and that some traders don't like them, but I haven't seen any specifics. Can you shed any light on Gain given my intent?

Thanks in advance,
Lou
 
Quote from bluelou:

ScapGF,
One more question for you...

I've been trading mostly FX futures and I'm just looking to try out trading FX spot at this point in time. I was thinking of using Amp since they offer both forex and futures and b/c they meet some other criteria I need.

I know that they're just offering Gain Capital + about a 1/2 pip. I don't mind the wider spread since I'm just trying to get a feel for trading spot right now.

Is there anything about using Gain as a set of training wheels that I should know about? I've tried searching on ET but haven't seen much about them. I know they're well-capitalized and that some traders don't like them, but I haven't seen any specifics. Can you shed any light on Gain given my intent?

Thanks in advance,
Lou
More...

No real clue about Gain as I have no direct experience with them. The thing about OTC retail spot FX is that every broker has its quirks. Some far worse than others. You just have to do your best to be aware of the quirks and trade around them or avoid them altogether. To me I don't see why people get all in a huff when their broker isn't perfect. I think this mostly comes from people who have no other experience in the trading world, because anyone who has tried to execute in a fast moving market on say forward contracts for crude on the NYMEX will know that in this game there are very few certainties and even less guarantees!
 
Fair enough.

Maybe I'm spoiled compared to many of the others on ET. For futures I use Ninja for auto-trading, for the most part I like my futures broker (Velocity), I've never had a problem with my data provider (IQFeed), and I use a T1 line and I've never had any problems there. Albeit, I'm not trading in size by any measure, but what I have is working for me now.

It sounds like IB might be among the best of the retail brokers for forex, but they don't allow forex trading in an IRA. I have a couple of different accounts and IB would be a hassle for me as far as initial account setup. I think I'm going to try the AMP/Gain route first just to get started.

Thanks,
Lou
 
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