no doubt… The galaxy tab took the news pretty well today, I love this little machine, lol… Just a small “connection lost” interuption that lasts for 10 seconds or so…
We’ll get er done,…
Have a great end to your Friday, and keep pipn away!
Gotta love those Alpari ECN spreads.
Must be the first broker to offer all accounts with the words ECN attached to them but you dont pay commission. Maybe NDD or STP might be the more correct term.
That’s not Alpari pro account is it? I didn’t think so.
By the way you need 10k to open the Alpari pro account ( the ECN one you clearly didn’t post the correct spreads for). Thanks anyhow
Keep in mind that FXCM has been fined by regulators several times for slippage manipulation and regulatory concerns. I am not aware of Oanda ever being fined for such practices.
I can’t include links in my post, but search for the following headlines for more details:
Forex-Trading Firm FXCM Fined by U.K. Regulator
NFA fines FXCM $2 million for slippage malpractices, FXCM will credit clients back
CFTC Charges $6 million more from FXCM on Failure to Maintain and Monitor Systems
Oh sorry I didn’t know you meant the Pro account where the minimum trade size is 1 lot size. I don’t think there is any other broker that expects someone with a 10K account to trade full lots at a minimum. Thanks anyhow for your reply and goodluck with your money management;)
[QUOTE=“cams75;618325”] Oh sorry I didn’t know you meant the Pro account where the minimum trade size is 1 lot size. I don’t think there is any other broker that expects someone with a 10K account to trade full lots at a minimum. Thanks anyhow for your reply and goodluck with your money management;)[/QUOTE]
Just keeps getting worse and worse for alpari i see… Good point and I appreciate it. If minimum trading size is one lot, I will be waiting til I have a few hundred g’s before I make the switch… And very good info on who posted those FXCM fines. I never trusted them. Oanda hasn’t been fined yet but they definitely screwed me on a GJ trade in the past. Utter bullship if you ask me. But I there just isn’t a better broker… Total sucks. So I just said screw GJ I will never trade it again
Hi guys,
I would be happy to address the regulatory actions you mentioned along with any additional questions you may have. No doubt there are others on this forum who share your concerns. I want to take this opportunity to say that you’re right to be upset with us. FXCM should have passed on positive slippage to our clients from the beginning.
While the FCA settlement was announced just a few weeks ago, the time period it relates to actually occurred from 2006 to 2010. Our system was updated in 2010 to pass all potential price improvements to clients, and our clients have received the benefit of price improvements since that time. Like the NFA and CFTC settlements discussed in 2011, the FCA settlement has to do with positive slippage not being passed on in full when transactions were offset with liquidity providers prior to the 2010 update. Under the terms of the settlement, FXCM has agreed to pay fines totaling £4 million to the FCA and to provide approximately $10 million in restitution to affected clients. This settlement is a significant step in our efforts to put this legacy trade execution issue from behind us.
It’s important to note that as a result of the changes we made in 2010, FXCM is now one of the only firms in the industry to give price improvements on both limit and market orders. By contrast, when a dealing desk broker re-quotes traders, the trader often receives a re-quote when the market moves in their favor, but does not receive a re-quote when the market moves against them. In other words, the process is asymmetrically applied to the broker’s benefit. It’s possible that this asymmetrical application of re-quotes could cause traders to miss out on potential price improvement. That’s why we welcome the FCA’s announcement that they’re conducting a review of the execution practices of 40 firms in the industry, which we hope will uphold the same high standards and execution policies FXCM implemented back in 2010.
Taking a look at FXCM price improvements today…
Analyzing a total of 43,128,901 forex and metal trades executed by FXCM during the six month period of August 2013 -January 2014, 6,391,641 or 15% of the trades benefitted from price improvements totaling $15,726,247. Of the total number of trades executed, 4,648,672 trades were limit and limit entry orders. Sixty percent of those limit and limit entry orders were positively slipped providing clients $7,296,520 in price improvements. Of the total trades executed in the six month period of August 2013 - January 2014 clients were executed at their requested price 73% of the time with no slippage. Only 12% of orders were slipped negatively. As mentioned before, FXCM is currently one of the only firms in the industry to give price improvements on both limit and market orders.
At FXCM, there are no re-quotes and traders benefit from the positive slippage in full whenever it’s available.