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Guaranteed fills in FX stops...
- Thread starter trade-ya1
- Start date
The most important point to understand is that FXCM/REFCO has 38k customers on their platform, so when one person has a stop order there are those that have limit orders, so it equals out.
Plus it is such an awesome marketing advantage for them because they are the biggest and the small firms cannot afford to offer the service.
Imagine having a stop on a stock that gaps down 10 points!
this is why FX trading is taking off.
come to one of our seminars to find out more.
Plus it is such an awesome marketing advantage for them because they are the biggest and the small firms cannot afford to offer the service.
Imagine having a stop on a stock that gaps down 10 points!
this is why FX trading is taking off.
come to one of our seminars to find out more.
Was trading nyse at a prop for the past 5 years and i see the forex as the place now. Learning all I can. I was 95% technical,which seems to be how to trade it. I'm sure in 5 yrs from now there will be more forex prop firms than you can shake a stick at. The 24 hour trading is a blessing for the addicts as well.
Quote from Everest:
And can you use a guaranteed stop to enter the market?
now they apply new rule that in time of events they dont guarantee fills of entry orders. Another trader said to me he was told that if order is placed 5 or more minuted before the release, it will be accepted. Otherwise they dont guarantee.
Quote from trade-ya1:
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.
This happened, and they guarantee it. you should all remember the weekend when Saddam was captured? well, I was long EUR and short USDCHF. Held the positions open over that very weekend. Market opened 150 pips below the closing (150 pips GAP!!!). I had a profit protective stop losses in place over the weekend on those positions. Positions were closed on the stops with the profits on Refco. No problems. I am here and I say it happened.
I dont know if thats what you meant by nobody can answer this until it happens, but this is what happened to me. Stops are filed all the time with no problems. Other positions during the sharp moves were also always closed at exact prices.
there were other problems with them,but I described it in the original post... but stops - no, never had a problem.
The catch is very simple. They want to get you as a customer, because open an account you land them your money. Forex shops do not have segregation of funds rules as futures industry does. The chances of probability to be profitable are on their side anyway. Even in a worse case scenario (market get wild and they guarantee stops & limits, to many traders constantly making money, etc.) you wonât get your money back.Quote from Turlo:
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)
In the unlikely event of bankruptcy, all client funds are legally protectedâ¦. is BS. They have ability to generate trades on your account, which you never did. And there is no one to dispute those trades. -)
Any forex broker goal isâ¦.to gets you as a customer⦠they want you to stick with them as long as possible⦠to be up/down, and eventually they want you to lose this money.
Quote from rezo_s:
now they apply new rule that in time of events they dont guarantee fills of entry orders. Another trader said to me he was told that if order is placed 5 or more minuted before the release, it will be accepted. Otherwise they dont guarantee.
Bad service. Do you know where can I get alarm/alerts?