I'm hearing a bit about this recently. What is the real story with this? Are firms really guaranteeing stop orders to be filled at the price specified? What kind of financial backing do these firms have. Is there a size limitation as to how much you can place on these stops? Are there any other constraints to this service? Does anyone have any first hand experience with this? What are the commission/slippage/bid/offer spreads associated with dealing with one of these firms? Thanks for your time. Neal.
Guaranteed fills in FX stops...
- Thread starter trade-ya1
- Start date
I dont know about the rest, but Refco/FXCM guarantee stop orders. No problems ever with this specific issue. Always got filled on my stops 
. There were too much in recent months - the stops, but they were all filled as always.
The price: not the tightest spread out there. 4 pips on EURUSD and 5 pips on the rest. No slippage ever. Customer support = first class.
Although had some problems recently. Couple times didnt get the instant fills that they promise. Happned 3-4 times last month and one time this month. But its not something their dealers do. At leadt I dont belive so. The thing is that after I am set to enter the market (I mostly enter on matker price), and I press the last "ok" button, I got the message "price has moved". This is not exactly requoting, but its almost the same.
The reason why I say I think its not something their dealers do on purpose is that the last time I got that message, I wanted to buy, I got "price has changed", and it actually jumped 5 pips down, so entering on new price was in my benefit... maybe it was still dealers game and their mistake, but this is the situation.
As for guaranteed stops - never had a problem with that. I trade around 3 million tickets, but I asked them once and they say stops are guaranteed no matter the size.
Hope it helps.
Rezo
. There were too much in recent months - the stops, but they were all filled as always. The price: not the tightest spread out there. 4 pips on EURUSD and 5 pips on the rest. No slippage ever. Customer support = first class.
Although had some problems recently. Couple times didnt get the instant fills that they promise. Happned 3-4 times last month and one time this month. But its not something their dealers do. At leadt I dont belive so. The thing is that after I am set to enter the market (I mostly enter on matker price), and I press the last "ok" button, I got the message "price has moved". This is not exactly requoting, but its almost the same.
The reason why I say I think its not something their dealers do on purpose is that the last time I got that message, I wanted to buy, I got "price has changed", and it actually jumped 5 pips down, so entering on new price was in my benefit... maybe it was still dealers game and their mistake, but this is the situation.
As for guaranteed stops - never had a problem with that. I trade around 3 million tickets, but I asked them once and they say stops are guaranteed no matter the size.
Hope it helps.
Rezo
Quote from rezo_s:
I dont know about the rest, but Refco/FXCM guarantee stop orders. No problems ever with this specific issue. Always got filled on my stops
The price: not the tightest spread out there. 4 pips on EURUSD and 5 pips on the rest. No slippage ever. Customer support = first class.
Although had some problems recently. Couple times didnt get the instant fills that they promise. Happned 3-4 times last month and one time this month. But its not something their dealers do. At leadt I dont belive so. The thing is that after I am set to enter the market (I mostly enter on matker price), and I press the last "ok" button, I got the message "price has moved". This is not exactly requoting, but its almost the same.
The reason why I say I think its not something their dealers do on purpose is that the last time I got that message, I wanted to buy, I got "price has changed", and it actually jumped 5 pips down, so entering on new price was in my benefit... maybe it was still dealers game and their mistake, but this is the situation.
As for guaranteed stops - never had a problem with that. I trade around 3 million tickets, but I asked them once and they say stops are guaranteed no matter the size.
Hope it helps.
Rezo
And can you use a guaranteed stop to enter the market?
you can get a guarantee most of the time but on a big number like the jobs report they no longer let you use a stop entry order unless it is 600 pips away from the market.
Sux....
but most of the time it works awesome
Sux....
but most of the time it works awesome
I have been looking into this as well. Check www.gftforex.com
their rep said that they guarantee stops up to 20 million. I am looking for a catch. Spreads seem to be high at these places (around 4 to 5 pips)
their rep said that they guarantee stops up to 20 million. I am looking for a catch. Spreads seem to be high at these places (around 4 to 5 pips)
This really sounds too incredible to be true. What kind of balance sheets do these firms have? If we have a major event, would these firms back away after the fact, especially on size? This is a rhetorical question, obviously, nobody can answer this until it happens. I'm nervous about it but very intrigued at the same time.