Delta Stock

Broker Discussion Forex Brokers
1

Well - I have got to tell you - if you are looking for broker - then go to Delta Stock
I don’t know why they are not better known in the industry but I can tell you that they ought to be!

There is only a $100.00 USD minimum to open an account (and this should tell you something).

Their trading platform is the most unique software I have ever seen - it takes a bit of getting used to but once you have got your head around it I can tell you that the concept is fantastic.

Level II trading is also offered and for those of you who have never had the pleasure of using this - give it a try - you won’t look back.

As far as order execution is concerned it is immediate every single time and in one month I have only had one requote - heaven!

One of the other things that in unique (at least I don’t have this with my other two accounts or any of the other demos that I have tried) is that you make deposits and withdrawls directly through the trading platform - no nonsense - no PayPal - no waiting!

And if that is not enough their support is fantastic!

Now - before anybody sends me an ugly message - let it be known that I do not work for them, I am not receiving any commission for this (or anything else for that matter), and am not an introducing broker. It’s just that after my experiences in the past it is pure pleasure to trade like this - without requotes, waiting fifteen minutes for orders to get executed on exotic pairs, etc. etc.

And by the the way - if you want a selection of pairs - you have got to get a load of their Instruments Table!

And if that’s not enough - they have a selection of indicators that will impress - and - I found that some of the indicators are the latest and greatest i.e. indicators that have only recently been developed (by recent I mean in the last couple of years not centuries ago) which tells me that they keep up to date.

Would you believe that they have a news feed (including Thomson Financial) that really, actually, works - 24/7! So far it is not quick enough for trading the news (but I stay away from that anyway).

I know that this sounds like and advertisement - it’s not. It is just great to be able to get down to the business of trading without having to fight your way in and out of a trade! If any of you have read my exploits over the past couple of months you’ll get the picture.

And something else rather unique (I know I’m going on a bit): in your profit or loss calculation the actual profit or loss on the exchange rate of your base currency is also taken into account. This is great because you know at any moment whether you are making an ACTUAL profit or loss i.e. no point in making a profit and then when you take it back home you lose on the prevailing exchange rate.

The trading platform also has email and SMS alerts for prices and order execution.

Delta also has cellphone trading using WAP included and I have set it up and tried it and it works like a charm - reliable and pretty fast.

And (not sure how many of you will be interested in this but it’s my thing) they are adding Gold, Silver, and Oil next month (currently being tested and is already on the demo for testing purposes) and there is the possibility that they will add Copper, Lead, Platinum, etc. etc. in the near future.

Consider my broker rated!!!

Regards,

Dale.

2

how come nobody has given any thought on this?

3

yeah $100 minimum deposit is bugger all, sounds like they are in big need for traders. Unless you’re trading micro lots, $100 is totally undercapitalised. Are they NFA registred?

4

I agree with Kiwipipper.
However, i think so there arent NFA regulated, cause there office isnt in USA, they are in Europe i think.
However $100 is little foolishness to put it.
I would suggest if any new traders want to come in forex industry, atleast make up a mind to have atleast $500 - $1000 deposited and have capability to trade in microlots as well.
Then you can succeed, or else you are just giving up a broker a gift of $100, which is not worth, and you wont learn anything.

Its a marketing gimmick sometimes, $100 and stuff, i see this many places, but think for a while. what do you get ? do you want to lose all $100 in one trade or such, or whether to learn in a momentary paced time by having $500-$1000 and learn from your mistakes and grow gradually, you make your decisions.

However, DeltaStock is a good broker too, i am not against, but i am just advising how much a person should deposit, to be able to succeed as a trader. Cause i have seen people putting $100 and Wolla blowed in few minutes by wrong trade.

5

OK - well - I just thought that this thread needs to be updated - and credit must be given when credit is due - and Delta Stock is definitely due for credit this morning!

I was finally able to take some profits off the table and put in a withdrawl request. Delta told me that it would take 2 to 3 business days for the money to show in my account. This morning - exactly 2 business days from the date of the withdrawl request - the money was in my account - free of deductions - and at the exact exchange rate (USD/ZAR) prevailing at the time of my withdrawl request. No deductions for ‘other charges’, ‘adjusted’ exchange rate, etc. etc. etc.

Comparing this to my other two brokers - no contest!

In four or five months - I’ve probably had 3 or 4 requotes with Delta - that’s all - absolute heaven - and order execution is instantaneous - and never had ‘slippage’ of any kind.

Thank you Delta Stock!

Now - I feel I need to respond to the comments in this thread which relate to the small capital requirement and the comments that followed.

I disagree with you totally. At Delta you can set your own lot sizes with a minimum lot size of 1000 and no maximum. With the mimum lot size of 1000 you could open a position on say GBP/CAD for example and the margin requirement for this single position would be around $9.93 currently and that leaves loads of free margin to trade without wiping out your account (I’m just removing decimal places here for demonstration purposes - my lot size is set to 100 000). The reason it works this way with Delta is because with Delta your margin requirement per lot is not fixed like it is at (my) other brokers (one has a minimum margin requirement of $50 and the other one has a minimum margin requirement of $1000). In other words - at Delta - you set your lot size - and the margin requirement is based on the actual currency value and the amount of currency that you ‘control’ is varied. At (my) other brokers the amount of currency that you ‘control’ is fixed and so is the margin requirement per lot and here - yes - no question - small money - quick wipeout.

Anyway - Delta should have Gold, Silver, Oil, and CFD’s available for live trading by the end of this month and then - no question - I’m closing my other two accounts (I trade mainly the Indices) and moving me and my clients money to Delta Stock.

It is an absolute pleasure dealing with their Customer Service, Technical Support, and Dealers and I have no idea why anybody uses any other broker (if you are trading ‘forex only’ at the moment).

Again - no - I’m not getting paid for this - nor am I affiliated to Delta in any other way other than being a very satisfied Delta Stock client.

Regards,

Dale.

6

Sorry to hear about your experiences with other brokers.
However STIFX the current broker i am using, does offer Spot Oil, Gold, Silver. And with no wire transfer fee, whether you deposit or ask for withdrawal. and in 1-2 days it touches your account.
Thanks for the update, though i am happy with STIFX, which has much to offer. And with one account i can trade forex, futures, options, equities, cfds with STIFX, which helps my protfolio to grow in trading in various products.
Cheerz.

7

Dale,

I went to Delta Stock and downloaded their demo. I’m afraid I’m going to give up. To me it’s the most user unfreindly platform i’ve ever seen. Understand I’m older and did not grow up in a computer world, so I need it as simple as possible. I have used several platforms with forex and commodities so I know I’m compatible with them but this is the worst, for me at least.

Dave

8

Dale,

Mate these guys call themselves ndd brokers but do they work the same way EFX group does or any other true ndd setup? You say that you only got 2-3 requotes in the time you have been with them. But if they are TRUE ndd you should not get any requotes at all.

Its like FXCM say that they have both ndd and dd platforms. But they themselves are the market makers. Whereas for being a true ndd you should be dealing straight with the banks or other traders who are with that broker. So my question is are delta stock true ndd brokers or are they like FXCM just ndd for namesake?

I am not sayin that they are crap or anything but i just want to know as i am broker hunting right now. I like their setup and all, but dont wanna make the same mistake i made by choosing FXCM!!!

Regards

Gagan

9

Hi,

I thought that I would post the response that I received from Delta some time ago (when I did not understand what a ‘counterparty’ was).

This is the response:

About the Level 2 trading, I have to tell you that Deltastock is the counterparty to all trades, not only L2. Since we are a market maker, this is the way we operate. The difference with L2 is that we act as an intermediary between the trades of all our clients. We create a trading environment (sort of like a stock exchange) where traders can see who is buying and selling what. The problem is that a brokerage doesn�t have the right to act as an exchange. Since you cannot directly buy from another client, the transaction goes through Deltastock, this is why we charge a commission for Level 2 trades. To a large degree this is very useful for traders as we guarantee the successful transaction. This is also the reason why there are no requotes when trading through Level 2 and when placing a limit order in L2 there can be no slippage!

No self respecting brokerage trades against its clients. It is quite simple actually; it would be more prosperous for Deltastock to have more successful traders then losers, since we would have them as clients for a longer period of time. Every day there are winners and losers and at the end of the day all positions are netted. If an extremely successful trader appears, his earnings do not come directly out of our pocket, we cannot expose ourselves to such risk. As a Bulgarian financial institution, we are subject to an array of other regulations which include keeping a capital adequacy. All positions above the netted sum are hedged at other brokerages. This is all in accordance with the Investment Services Directive (ISD) and the rules we abide by are all obligatory regulations, which are monitored closely by our regulatory bodies the Financial Supervision Commission (FSC) and the Bulgarian National Bank (BNB).

MiFID � the Markets in Financial Instruments Directive � comes into effect on 1 November 2007, when it will replace the existing Investment Services Directive (ISD). Amendments to national legislation and rules to carry out to its provisions must be made by 31 January 2007. MiFID extends the coverage of the current ISD and introduces new and more extensive requirements that firms will have to adapt to, in particular for their conduct of business and internal organisation.

Let me put it another way: ‘requotes’, ‘slippage’, order execution time sometimes measured in minutes (not seconds), orders simply ‘skipped over’, computer system upgrades (apparantely) during the middle of the trading day, etc. etc. etc. are all part of my trading day (life) at my ‘main’ broker (where I trade the Indices and metals i.e. not Delta). So - I don’t really care if Delta is a ‘true’ NDD or not - all I know is that for me to have only got three or four requotes over a four or five or six month period and only at at ‘news times’ (bad timing on my part - I don’t trade the news) - is absolute heaven! It is hard enough to make a living out of trading without still having to contend with your broker! I cannot wait for Delta’s Indices, CFD’s, and Commodites, to go live - so that I can close my other accounts - and rid myself of the ‘anxiety’ that I live with on a daily basis thanks again to my ‘main’ broker (not Delta)! Not to mention the fact that the service that you get from Delta’s Customer Service and Technical Support and Dealing Desk (I do know that there is one) is outstanding.

By the way - I just noticed - they run a monthly competition - first prize per month is $1K USD and - if I’m not mistaken - with the month that I’ve had at Delta - well - watch this space :cool: !!!

Regards,

Dale.

10

Well if they are not executing the Level2 Execution in the real market…
I wouldnt deal with them. WHY ?
Suppose there all clients are buying Eur/USD, no one is seling. what you going to do tell me?
I think it should be executed to different levels of sources, banks, ecns.

11

Hi,

Well - I’m not sure what would happen - or what I’d do - but - if it ever happens - I’ll be sure to let you know.

Let me put it this way: the only money I have ever lost at Delta Stock - has been due to my lack of experience and bad trading - not because of ‘slippage’, slow (or no) order execution, ‘requotes’, or anything like that - and - to be brutally honest - I don’t really care if they pay me my profits out of their rent or lunch money or YOUR money for that matter - as long as I get my money as and when promised (which I do) - and as long as I get an answer within an hour from their customer service, technical support, or dealing desk (which I do) - I’m a very happy Delta Stock Client (not to mention that the Bulgarian woman look and sound great. I’m hoping that the person who’s picture is posted on the ‘live chat’ - and - the person who has done the Bulgarian ‘voice overs’ for the alerts on the trading platform - actually work there. I’m going to visit them soon out of my ‘Delta’ profits - on my way back from Finland and Russia that is - I’ll take a picture - and send it to you)!!!

Regards,

Dale.

12

well no one needs the picture here of a lady and stuff i think my friend.
I am just trying to tell you all the alerts from before, as a person should be aware of everything.
If you are happy with them, best of luck. but i would hesitate to join with such firm who doesnt executes trades in directly with Banks…

13

Hey - lighten up - just trying to throw some humour in here (I’m obviously having a good trading week - I’m not this ‘chirpy’ when I’m losing money)!!!

OK - seriously - I know exactly what you are saying - and I’m sure that it could be a potential problem - but - I can tell you - that my accounts at my other two brokers - work exactly the same way. I can tell you from experience that ALL of the brokers (with dealing desks anyway) rely on the fact that there will always be more new traders who don’t know what they are doing than there will be experienced traders who consistently make money. Remember that your ‘odds’ (hate that word as well) of success are somewhere in the region of 10% - and that’s pretty good ‘odds’ (again) in favour of the brokers (to the best of my knowledge that’s streaks ahead of the odds in favour of a casino although I could be mistaken) - so I don’t think there is anything to worry about - just as long as I (and you) are in the 10%.

Put it this way - how do you ‘rate’ or ‘judge’ a broker anyway? I mean - all you have to do is take a look at forexbastards.com. For the most part - for every bad review you find - you’ll find a ‘counter’ good one. And from what I can see - all of the brokers that say ‘no dealing desk’ - almost always have some or the other ‘disclaimer’ on their website i.e. it is at their ‘discretion’ whether your trades get passed directly to the banks or not - even FXCM which are advertising on Bloomberg now - and - with the costs of advertising on Bloomberg - I doubt very much that the cost of this advertising campaign could be coming out of pure ‘commissions’ paid on ECN trades. And as far as Delta Stock goes - on forexbastards.com - they are (were the last time I looked anyway) - the ONLY broker with not one single negative comment - even the HUGE Swiss outfit on that site has one or two negative comments posted about them (which - I’m sure - comes from someone who lost a **** pile of $$$ - be that as it may).

Regards,

Dale.

P.S. Don’t mess with me - I see all of these ‘useless’ posts have (this morning) bumped me up to a ‘Master Contributer and Member’ (JOKING)!!! All I need to do now is win the Delta Stock Monthly Competition - and then - Warren Buffet - move over!!!

P.P.S. Actually - no wait - maybe I’ll start an online brokerage - and I PROMISE you - you’ll have my word as a broker - I’ll pass every trade through to the interbank networks - and only make my money from commissions :smiley: !!!

14

Hi,

You know - since someone else on this thread mentioned the fact that there could NEVER be requotes from a ‘true’ NDD broker - it has been bugging me!

I think I’ve come up with the answer though (unless I’m not understanding this correctly - which I doubt in this case but feel free to tell me I’m talking nonsense):

OF COURSE it’s possible to get a requote EVEN with a NDD broker. Why? Think about it. During extremely high periods of volatility e.g. economic or news data coming out - does it not stand to reason that because of Internet delays and (possibly) overloaded systems at those time there WILL be a (slight) difference between the quoted price appearing on my platform and my order getting to the broker? Not so? Also - remember that the broker is also relying on feeds from various other sources as well at the time - and is it not possible that there could be a problem with these feeds at these times as well? Like I said - the only requotes I have ever had from Delta (a whole three or four of them in six months or so) have been at news times - never at any other time and I don’t think its because a dealer has decided to requote me for their benefit - I think that the system itself is generating the requote. I mean - think about it - the system HAS to be checking the order price against the actual quoted price when placing the order - otherwise we could just place orders for any value we wanted. Imagine that!

Once again - compared to my other brokers - no contest. I get requotes at one of my other brokers when the price has not moved for the past hour on the Dow. Get my drift?

Regards,

Dale.

15

I need more user comments on deltastock.com

please and thank you very much…

regards
jimocean

16

Just thought that you’d like to know that TODAY Delta has announced that Gold, Silver, Oil, Indices (ALL European and USA), and CFD’s (ALL European and USA) are available for live trading.

Regards,

Dale.