IBFX - Note to fellow traders

[JDL]

Quote from greysquirrel:

no your not missing anything, its just a very lame policy that allows them to take money out of traders pockets with no risk to them. If they honored stops the same way it would be a different story. Anyway I am done complaining. Thanks for listening.

i understand bro. i trade on a ecn and never got a better price on my take profit but got a lot of slippage on my stop loss. so i realy don't think it's a just the bucket shop thing.

 

[Hurricane]

I'm not familiar with IBFX. But face facts. If you're dealing with someone that trades against you, don't expect them to act like they have a fiduciary responsibility to you. Get yourself to a firm that makes money from you exclusively from spread or commission and that won't trade against you.

I use IB and looking at my forex trades today, about 1/3 of them (all limit orders) were executed at prices better than I set up in my order. I'm sure there are some other brokers that similarly act responsibly. BUT NOT A BUCKET SHOP!

 

[cabletrader]

Quote from Hurricane:

I'm not familiar with IBFX. But face facts. If you're dealing with someone that trades against you, don't expect them to act like they have a fiduciary responsibility to you. Get yourself to a firm that makes money from you exclusively from spread or commission and that won't trade against you.

I use IB and looking at my forex trades today, about 1/3 of them (all limit orders) were executed at prices better than I set up in my order. I'm sure there are some other brokers that similarly act responsibly. BUT NOT A BUCKET SHOP!

I'm not sure that's strictly true, I've had better requotes from CMC and had orders filled at better prices on Oanda, both are notorious bucketshops. It's a 2-way street of course, often requotes and fills can be worse but I think it pretty much levels out at the end of the day.

Bucketshops have their uses, I guess a lot depends on the trading style and strategy of the individual trader and what their particular needs are. ECN's aren't without their negative points, no broker is perfect.

 

[Hurricane]

Quote from cabletrader:

Bucketshops have their uses,.

Fair enough. Some are reuptable. It's just harder to know what you're getting when dealing with an unregulated entity.

 

[makloda]

Why not trade EUR futures on GLOBEX. Your transactions are handled and guaranteed by a 3rd party exchange.

 

[jones247]

Quote from makloda:

Why not trade EUR futures on GLOBEX. Your transactions are handled and guaranteed by a 3rd party exchange.

How does the liquidity in the futures market compare to the spot fx market, especially during odd times (i.e. Asian session & during the early phases of the european session)???

Walt