Quote from Shafii:
Also, the size of my order was EUR 125K and this shouldn't impose any liquidity problem.
I have concerns because I was planning to trade at least 500K at a clip.
Quote from ballyhoo:
LOL, thats always the best way of defense, claiming the other one does not understand/has to learn.
I trade for over 16 years now, was in the cash management of EXXON, hedging, swaps, options, forex, you don´t have to explain business to me.
I can calculate the cost and fees of Interactive Brokers and only can warn to trade with them, they are expensive compared with others and unreliable.
Quote from vital-statistix:
The 5 seconds delay purely depends on how
you set up your stop execution: If it is based on
last trade ....
Quote from Kicking:
Shafi,
You are right to be concerned about your execution with IB FX
However as a previous poster remarked , the 15 pips slippage (5sec delay ) was failry minimal and really normal with IB FX.
You should not trade with stops the way you trade (at those times) with IB.
Consider yourself very lucky. Their MM's will fleece you. They can do pretty much anything during a high volatile market, IB is not responsible it's the MM's from UBS etc. Other than these abnormal conditions IB is fine I believe, but I will never trust the MM's, I am sure they can shut off their systems if they want (auto exec shut off) , that said IB has a number of them but I have seen th epread go to more than 10 pips for more than 15 minutes (much more actuallY) after NFP .
I tried them as well but that was about a year ago and they back away, post non executable quotes, delay execution and what not. This not IB sole responsibility , but IB is compounding the problem without ofering last sale data and a nonsensical stop order methododogy.
Nobody is paid by IB to promote them , just diehard fans sometimes in total denial
Quote from MiamiHurricanes:
The spot currency market is not a centralized market. If this has changed please inform everyone because this will be news to the entire financial world.
Regarding slippage, if you want the closest to a guarantee on stop and limit fills, trade with a MM that will either have a trading platform that crashes all of the time or will turn it off when they are having "technical problems". Every trading agreement with every entity involved in the currency market does not include guarantees on such liquidity, nor should they. That is the nature of the market... Time of Sales - LOL. One would gain a lot by trading in other markets to understand market dynamics of buy/sell imbalance and liquidity. The spot currency is not as deep as you might think at times - Trading during major events will always be risky.
Regarding paid IB supporters? If IB customers are being paid then Oanda customers/staff is being paid 1000x more. Look throughout the net. Whenever there is one negative comment about Oanda, the woodwork wakes with a flurry of all @#$% in defense. Watch, expect negative counter posts within the day from those that trade with Oanda.
Quote from Eagle Eye:
I donât really think you should comment on every brokersâ trading agreements because I donât think you have read even half of them.
Quote from MiamiHurricanes:
Whatever, you must know because you are clairvoyant... But your are right! The fact is that I have not read way more than half of the trading agreements out there because that would include hundreds of firms that I would not deposit $1.00 USD with....
And it will only be a few more days before someone asks "I heard about this firm $#^@knocker FX. They are based in @#%$ corner of the world. They are supposed to be real big and they guarantee fills on stops and limits with no slippage. They have a minimum account balance of three figures with 400:1 leverage. They accept PayPal and credit card deposits and, and, and, .... What do you think about them" @#%^, are you @#%^ing serious?
Please post content from one single trading agreement that truly guarantees fills on stops and limits. De Facto, some come practically damn close which is equivalent to a guarantee in my book. However, all agreements are legally bulletproof - just like Bloomberg and Reuters systems that state if we have false data transmitted - tough, etc.
Specifically, when you are reviewing a trading agreement, do you fight to ammend it? That is what the big players do. They have their legal and compliance teams review word of every financial contract and agreement in detail and make requests for changes where they want. It does not mean that they will get what they want. I would say that is difficult to do for smaller customers.
My 3rd paragraph was not the main point of my post but if we are going to flip it back and forth, I run with counterparties that have working software.