Then in my opinion the Globex is the way to go for you. Regarding Forex, always keep in mind that forex market is not regulated market and THERE IS NO SEGREGATION OF CUSTOMERSâ FUNDS in this business. It means if some FX broker/dealer/market-maker will go bankrupt most likely you wonât get your money back. And as you probably know, retail customers trade directly with a counterparty and there is no exchange or central clearing house to support the transaction.
"really, does anyone know a fx-broker who does not requote ?" fxcm, plus stops are guaranteed. Wallace.
I was long GBP/USD moments after Friday's economic numbers. Instant electronic fill. I daytrade quite a bit and never get requotes.
Ok, that's more like it - Friday, I placed the same order as you, and all my broker did was requote after the move had already happened. How long have you been trading with these guys?
What do you mean by moments? Are you talking about like less than a second after the release of the numbers on a Bloomberg terminal or are you talking about a few seconds later, after the initial upward move has already occurred?
I work with Refco and CBFX. Refco - no requotings not ecen once. CBFX - happened. Refco and FXCM are offering same high level of service. No matter what kind market, if you click on sell/buy, there is no requoting. The only thing that couple times happpend is that the trade DID get executed, but it hang in orders window (with executed tag on it) for about 10 mins before it appeared in "open positions" window. This was quiet a while ago, but still... and as one of the posters here mentioned - its better not to enter on news and on highly volatile market - dont jump into moving train... Good Luck!
Are you sure they will not re-quote, even if you're hitting the trade right when the number comes across the bloomberg screen? They would be taking very big potential hits on a consistent basis on these trades if taking the other side of your order. And I don't know how the hell they would hedge your order in the cash market during these times, too volatile. I just can't see firms that would be willing to lose money like that on a consistent basis. They wouldn't necessarily need to re-quote, not showing you your fill for ten minutes is just as bad.
Hi Okwan, I've trade with Oanda for nine months now and have never been requoted. Also, my fills have always been instantenous. No exceptions. You should know that Oanda has a flexible spread policy, so while they maintain pretty much the lowest spreads in the industry during normal volatility (2 pips on the EURUSD), they widen it during periods of excessive volatility and sometimes in advance of major scheduled news such as a Greenspan announcement. In theory, this flexible spread policy enables them to manage their risk while giving their customers continusous good service (ie no requotes, fast fills). After fast market moves, posters at the Oanda board will sometimes note that they experienced slippage. But I've never read any complaints about requotes. Good luck in your trading, chaos