Discussion in 'Forex Brokers' started by tribadism01, Jan 24, 2004.
GFT is good for scalping in EXOTIC pairs ?
I mean at delay, slippage and requote .
Scalpers are cheaters! Scalpers are why forex has such a bad reputation and these types of traders should be banned from trading forex anywhere...
gft wont let you scalp they hold your order and only fill you if they can make money on it they are the worst firm to trade with they will honor there quotes at first but then once they see you trading as they put it to me in excess they put you on automatic requote if you are going to scalp which is a perfectly ligitimate way to trade you are better off with hotspot or oanda i use oanda and the spreads are tight and you get instant fills gft is why regulation is desperately needed in forex
I need to add here on behalf of Gary the owner and his staff, I had a live acct with GFT and had an "issue" arise with them wherein over 11% of my port was involved.
The issue was resolved to my satisfaction.
Had this same thing happened at another brokerage I may not have had such a favorable outcome.
I trained on GFT forex charts (demo accts) - they are among the best in the world.
Although I closed my live account there I have nothing bad to say about Gary and his staff at GFT Forex and wish them nothing but wellness.
I am glad it was Gary's firm I had the issue with and not someone else.
GFT a bucketshop?
All retail forex shops are bucketshops to one degree or another. They all take the other side of your trade. The question is do they hedge their overall position in the interbank market? Don't know specifically for GFT but the general pattern seems to be that they don't unless you are identified as a consistent winner. The overall position of the winners is hedged and the rest are left unhedged because the house is going to wind up with their money. Of course there are lots of other games that these shops play. They don't like scalpers (especially ones that use an API) because the house can be taken for $$$ by scalpers that arb the house prices when they get out of line with the interbank market.
Thanks. Nice to know.
But how can some brokers afford guaranteed stops?
If they offer guaranteed stops they are not covering the trade i.e. not laying it off in the market. There are no guaranteed stops in the interbank market, only when someone is running a paper P&L.............................
I guess it's because they are taking advantage of bad pricing where the technology hasn't quite kept up with the market pr thye are trying to hit a dealer on rates that or no longer valid. Just seems like that negates what "real" traders are trying to do by spending hours on learning fundamental and technical anaysis. Should be the same rules for all.
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