Gain Capital and market orders

4EXJOE,

He didn't get a requote even...they just did not fill him at any price...But I see your point.

ES

Quote from 4EXJOE:

You got requoted by a bucketshop.

Its like playing cards with known cheats and then being surprised when they do! Find another table (broker)
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Quote from bluelou:
FWIW, I did get a better, however laughable, explanation from Gain when another market order was rejected this week. Apparently, when Gain receives a market order they consider it to be a sort of limit order. That is, if the price has moved in the 1/2 second or so since you submitted the order they reject the market order. Now, here's the funny part. If you specify in advance how much slippage you're willing to accept then they will try to fill your order with slippage. Hmmm...I wonder what my aggregate slippage would be in year? 1/4th of my P&L? 1/2? Oh, why not just take it all.
Also, with NinjaTrader there is no way to include a slippage parameter so until I drop Gain I'm going to see more rejected market orders.
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You are making it difficult for yourself if you don't want to understand what your broker is trying to explain to you. Slippage settings should be available on your broker platform (not NinjaTrader), as it is on my broker too ...... nothing laughable or funny. "why not just take it all", no, the default setting are usually 2pips slippage and your broker can explain to you (if you want to listen):
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(picture from GFT Forex's DealBook360)
 
Quote from ElectricSavant:
4EXJOE,
He didn't get a requote even...they just did not fill him at any price...But I see your point.
ES
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Yes, the error message was "Pair Not Dealable" during FOMC minutes release.
 
Well you know what this means...

This means that they do not make money "only from the spread".... or they would be motivated to fill the order. Computers can trade very quickley and if all they were doing was hedging all their incoming orders...then they would do it...it sounds like they take a direction...I bet they have traders doign just this...I just have never figured out how they silence these traders that trade for bucketshops that leave these bucketshops? There are many Forex Dealers out there and I am waiting for a post from former employees...just from one of them to validate the "biased" trading desks at these various dealer operations

ES

Quote from bstay:

Yes, the error message was "Pair Not Dealable" during FOMC minutes release.
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Quote from ElectricSavant:
Well you know what this means...
This means that they do not make money "only from the spread".... or they would be motivated to fill the order. Computers can trade very quickley and if all they were doing was hedging all their incoming orders...then they would do it...it sounds like they take a direction...I bet they have traders doign just this...I just have never figured out how they silence these traders that trade for bucketshops that leave these bucketshops? There are many Forex Dealers out there and I am waiting for a post from former employees...just from one of them to validate the "biased" trading desks at these various dealer operations
ES
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Gain Capital still has 11,344 client accounts so if everyone was experiencing Market Order not filled, wouldn't all if not most have left Gain for other bucketshops? I'm curious with all the hype about ECN/STP/NDD brokers, why are people still holding their accounts with dealing desk brokers. I should ask those 11K folks at Gain first, lol.
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http://forexmagnates.com/us-forex-brokers-account-profitability-comparison/
 
Quote from bstay:

You are making it difficult for yourself if you don't want to understand what your broker is trying to explain to you. Slippage settings should be available on your broker platform (not NinjaTrader), as it is on my broker too ...... nothing laughable or funny. "why not just take it all", no, the default setting are usually 2pips slippage and your broker can explain to you (if you want to listen):

bstay, my point was that I don't trust Gain, or any other dealer, to know slippage in advance. I would expect them to fill many, if not most, of my trades w/considerable slippage.

Also, as I mentioned before the 'Pair Not Dealable' has happened 2x where there was no news or event. This wasn't just a one-off problem during an FOMC announcement.
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Have you decided who to changed to? InteractiveBrokers, MBTrading, Oanda, Dukascopy, ..... or switch to currency futures at CME?
 
Quote from bstay:

Have you decided who to changed to? InteractiveBrokers, MBTrading, Oanda, Dukascopy, ..... or switch to currency futures at CME?
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Not yet. MBTrading is looking good. I need at least 5 years of tick data and 10 years of daily data to parameterize my models and MBTrading says that they have this - though I haven't checked out the data yet.

I can't use Oanda and Dukascopy since I wouldn't be able to use Ninja. Currency futures won't work since I trade several non-USD pairs, too. I trade futures at Interactive but not forex. I have a few IRAs that I trade in and Interactive doesn't allow this for forex.



Do you have any thoughts on PFGBest? I've read the reviews here and they're not particularly good. But, they have some account features that I like.
 
Yes, I saw that posting. Thx. Might be b/c they're more expensive than MBT et al. for both forex and futures.

The plus that I see with PFG is that if you're trading forex and futures in trust accounts they use the same trust firm for both account types and they happen to use a firm where I already have accounts. That makes it a lot easier to move money around. With MBTrading they use different trust firms for futures and forex.

I'm considering trying PFG since it would be a fairly easy switch for me and if it doesn't work out then I'll move to MBTrading.
 
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