Hi Guys,
Im not sure where is the right place to post this.
To be neutral, I am going to censor the brokers name.
Usually my broker and my trading software has about the same charts. But I noticed my earnings slipped today despite my charting software showing otherwise (the candlesticks are going down.)
I am worried that my broker has been cheating on me or its just a normal technical thing. (Bid and Ask prices?)
They simply took quotes from the different sources, but we can’t exclude the possibility that your broker cheat you with some “persistent slippage” that makes hard earning profit.
Just compared with Hotforex charts, almost match your charting software quotes. Well, I’d like to hear the broker opinion in your case.
perhaps they used different price source between web trading platform and mt4 chart. to be honest the pict are quite shady not event clear on what timeframe your chart.
Hi ontario, not too sure what do you mean by shady. Both are the same timeframes.
Different price source? By 1 pip? Thats insane.
Anyway I have investigated. Im so pissed I dont really want to censor the brokers name anymore.
IC MARKETS 1.59995
HOTSPOT FOREX 1.55986
TRADING VIEW 1.55985
Your broker is IC Markets, through I know, it’s an acceptable broker. But if you’re not satisfied with its service, switching is better.
I agree, faith, once lost, is hard to restore. In my thread “slippage with ecn broker” I laid out the reasons why I am disappointed with this company and have taken steps to find and open another account with hotforex. I hope the thread starter would also consider taking his business elsewhere to let ic mkts and all other brokers know that traders can vote with their feet, and with so many other brokers around, we will not be held to ransom by one broker.
Indeed. There are tons of brokers in the world so if you see the broker is the reason stop you earning, just switch. But you also should create a topic to refer other member idea to confirm that’s broker fault.
I usually scalp off the news (Yes its weird I know) so regular spreads are more important to me in a sense (if that even makes sense)
People like oanda are market makers, but they display only 1-2 points more than the regular data feed during normal times.
Dear IC Market has USDJPY displayed at one pip higher. USDJPY generally has less movement (pips wise) than GBPUSD and they are consistency displaying one pip higher THROUGHOUT THE WHOLE BOARD. In my last scalp, I exited at only 2.3pips on my charting software but dear IC markets gave me a loss.
Here is my logical break down
USDJPY SPREADS
Oanda = 1.4 (Normal spread) + 0.2 (Higher than my charting software, normal) =[B] 1.6[/B]
IC Markets (True ‘ECN’) = 0.3(Average USDJPY Spread) + 0.35 (Commission(When you sell you still have to do another 0.35 commission) + 1 pip (charting difference) =[B] 1.65 [/B].
Im not being a loser and say 0.05 pips makes a difference. No it doesnt.
Whats worse is that claiming to be an ECN with low spreads and f**k with the customers.
Further, I tested out the average GBPUSD spread. Its also around 0.05pips difference form oanda.
Wow! Thanks for sharing. I’ve read only good reviews about IC Markets before. Well, it’s time to compare my broker charts.
I type up a beaut response. Explained a bit on how the markets truly work. Your role in it but I deleted it.
You people need to learn whats really going on. Stop blaming your broker, different price feeds, spread for your failings. Accept responsibility for your trade decisions.
Bobbi, that was a good response and I agree. Like forex and stocks, both can make money. My argument for forex vs stocks is always ‘hate the player, not the game.’
However, I am a profitable trader myself. I do not blame IC Markets for any loss trades I have. I just changed my broker to another broker which I shall not name this week. Their charts are great for technical analysis on a shorter timeframe, their spreads are reasonable and I have been less vexed. I am a scalp traded so, for a trend trader IC markets might have just been fine. I don’t know really.
However if broker x can give me a better deal, better price feeds , better spreads, why not? It’s all economics. Like all of us, we do try our best to keep in our interest instead of succumbing to a broker that isn’t aligned with it interest.
