dude, that is so wrong. Seriously, I urge everyone who ever considers bucket shops such as FXCM to first look at demo (better even live feed after signing up, I could imagine they may use a different demo feed from their live feed, but cannot confirm that as I have not used them, just heard TONS of funny stories). Again this is not any sort of vendetta against FXCM but fact is most bucket shops (and I leave it up to the potential FXCM customer to do their due diligence on the net) rig their price feeds during news times. The feeds that are most reliable are ECNs or ECN like feeds off which you can directly trade, such as EBS, Reuters, IB, Currenex, Hotspot, Dukascopy to name a few. Seriously I claim you definitely represent bucket shops if you try in all honesty to claim their price feeds are close to where the real market is during times such as NFP release. LOL!!!
If you don't believe me Just constantly refer to Dukascopy's live feed on their website and just compare it to FXCM's quotes They are tons more identical to ECN quotes than other brokers Can't make this stuff up -- it is right there for you to confirm
I think we miss communicate: I said that their quotes are off during fast markets and during significant news releases no in regular trading hours. And yes you are right, get on a demo and compare, its very simple to verify. Enough said.
I've yet to have come across a significant jump out of sync with my Dukascopy account --- they might happen but that is why a good trader will minimize risk by using sensible leverage versus the gambler who uses insane leverage I'm in positions so that not even a 300 pip spike will blow my account while at the same time being able to profit dozens of pips by only getting in high probability trades Gamblers will always find someone else to blame for their ineptitude
I disagree -* no stop loss trading* should only be used by skillful experienced traders who are not over-leveraging positions and who are damn good with TA and Pyschology
lol, dont shift the topic. I dont use FXCM, I am not a gambler, the point here is that they have full and complete control over their pricing feed. If they feel like moving the price feed an extra 50pips for a split of a second to run stops then they can do that and per disclaimer the customer has no chance to speak up. That is the sad state of affairs currently. What a joke. I would not want to engage in such business practices especially not on the other side of such shady outlets.
as an analogy, so then why do open your mouth that some evil investment banks suck from stupid investors. Or why does the FDA exist to regulate pharmaceuticals. Its for everyone's protection. The problem now is that bucket shops such as FXCM attempt to move away from the bad boy image towards being seen as the firm who has no adverse client interest. However, this could not be farther from the truth. FXCM makes a lot of money off scamming people otherwise they would not have to engage in described shady business practices. Well, I think whats going on becomes very quickly apparent to those who keep their eyes open, I just urge every beginner in this game to watch out and to inform themselves about what is going on with firms such as this. Suggestion: Count the formal complaints against FXCM and then another, I claim, highly reputable firm, such as IB. Then next, check how many years each of those is in business. I think things become crystal clear then!!!
They have publicly stated that they are now NDD (not that I really believe those cock fuckers...) so any abnormal quotes will have to rectified - simple as that..... I'm sure that the NFA and CFTC would be very interested in any unusual number of such incidents That said, as long as you know how to trade, you're good....I'm more than okay with 50 pip spikes - just a better opp to add more longs/shorts Since you don't even use FXCM, you shouldn;t comment on their price quotes - you reference other traders but the majority of them are beginners or just really bad traders....
Gcapman, I do agree with you that spikes should most of the time not influence your trading decisions as prudent risk taker and manager. However, a rigged price feed and rigged trading platform I dont find acceptable. And the is plenty evidence that this is happening on an almost daily basis, no need to speak from own experience. I would not come near this broker no matter what.