Anyone out there use or has used Gain Capital -

Discussion in 'Forex Brokers' started by BIG T Trader, Dec 25, 2005.

  1. Hello folks,

    Canadian guy is Canada Questrade is secured by the CIPF to the tune of $1,000,000 in case of bankruptcy.

    Questrade licences the Gain Capital platform. I am attracted to it because of that security but I need more obvious important questions answered.

    Anyone out there who has Questrade OR Gain Capital - and could comment on the following:

    - Is Gain Capital the marketmaker to your trades with Gain Capital the Broker?

    - Do you use stop losses and if you do how have you found Gain Capital to just be out to trigger stops OR are they reputable?

    - Comments about slippage, order execution timing and speed?

    - Anything negative about them?

    - Best features about Gain?

    Your feedback is very much appreciated!
  2. Deptrai


    1. Yes.
    2. Yes. They are reputable.
    3. Their spreads are wider than most. On the EURUSD, it is 3 pips. However, they maintain the same spread even after the release of important data such as Non Farm Payroll.
    4. No. I've been with GAIN since 2000. If there was, then I would have left a long time ago.
    5. Good customer service. Dealer commentary.

    Some brokers offer different leverage. Some platforms are better than others. Some are ECNs are some are marketmakers. What is important is that you go with one that you can trust. Quite frankly, there is no perfect one out there. What it all comes down to is if you can trade forex well or not. So choose your ice cream flavor. Vanilla, chocolate, or strawberry. As long as you are a good ice cream eater, then you will do well.
  3. - Anyone else out there who traded with Questrade (who uses GAIN) or GAIN directly?

    - Does anybody know of another Broker that uses Gain's platform?

    Specific questions to JimRockford:

    - You seem very very negative to Oanda and Gain ( and bucketshops) - it sounds like you have been burned before....that being said...
    1) Have you ever used Oanda or Gain? I have heard good things about both and I would like to know if you have personal experience with either of them?
    2) What Broker do you recommend if Oanda or Gain are not good?
  4. Well I just learned that Tradestation uses Gain Capital as a Marketmaker. They have a huge reputation to preserve - so I am beginning to feel Gain is more reputable.

    Anyone else out there using:

    - (Gain capital)
    - Questrade (Gain capital system)
    - Tradestation (Gain capital marketmaker)

    Please submit all info you can.
  5. I never used Oanda or Gain.

    I have never been burned by a broker. I have been burned elsewhere in life, and learned some lessons, and a benefit of them is that they have helped prevent me from being burned by a broker.

    I recommend against any FX broker, regardless of reputation, which, like Oanda and Gain, profits by taking the other side of losing customer trades. I recommend IB because they pledge never to do this on FX trades, and because I am not aware of any other broker providing an FX offering as good as IB's, and for many other reasons, like IB's deposit insurance and high degree of integrity. I trade equities at IB, not FX.
  6. I've used for a few months -- no problems.
  7. nassau


    gain capital white labels its platform to other small brokers..

    Gain capital's software is very user friendly, you may find that the spread is larger than if you go directly with gain capital as the the white label broker needs to make fees also for their service.

    I personally like the news updates the min and can cross reference that data with others I use to trade stocks/options.

    You will get the odd slip for a few cents but you will never know if it is Gain capital or your independant broker..

    I have almost never had to contact them for help.
    with reference to stop losses I find preset stops can get triggered by whips in the market that happen daily so I implement my stops manually with extreme stops set for safety.

    you should try their free demo platform...and then make your decision..if possilbe trade via gain and your other brokers demo to see how they work? can't hurt ..especially if you are not live..

    good luck

  8. I will certainly give their demo a try. I noticed they have much lower spreads (1-2) for active clients.

    That being said...Questrade who uses them is a Canadian firm covered under the Canadian Investor Protection Fund (CIPF). Should Gain or Questrade go bankrupt (see Refco) then the fund protects your assets to the tune of $1 million.

    Same system, slightly worse spreads, but there is a peace of mind.

    That is why I am seeking to find out all I can about Gain - to see whether there is comfort there to go directly to them OR if I should avoid them altogether like "Jimrockford" suggests.
  9. nassau


    If you are going to be preoccupied with worry about Gain Capital then I would use your canadian broker as you believe you are safe.
    Forex offers huge leverage..10k lets you play with 1musd.
    a few pips over the spread should never be the reason you decide not to trade in my opinion as the trade is too tight for myself..
    25kusd gives you lots of breathing room if you stay strict. Forex is faster but has far less intervention as stocks / options do.
    It is a double edge sword - fast money fast losses..
    I personally like Gain Capital as it is easy to trade from.

  10. thn5625


    Ive been using for about a year. They are very helpful in most customer service issues. However, recently Ive been inquiring about my funds but there has been horrible, I MEAN HORRIBLE, responses. They will not answer the questions directly.

    OK good customer service when you have questions that are not about withdrawing funds.

    In all, will have large gaps if you scalp. They offer high leverage, nice commentary(I love this), but charting screens are horrible. Overall, a professional company most of the time, but not the best in the industry by far. I would rank them as an average forex firm and 2nd rate company. Just a notch above being a bucketshop. If they can imitate OANDA and Interactive Brokers then they will be very close to top in my book.
    #10     Jan 6, 2006