Thx v much. I see now that entering orders in advance would be an issue if you are doing strategy automated trading. Best to send orders when price is very near to your limit order. That is something that didn't cross my mind before. However again this precaution is not needed if you are executing 100s of orders every day.
Yes, my point was more than almost any case with 3rd party involved carries some risks. And risk of companies like Oanda doing something shady is actually not much higher than risk of something shady in the case of trading stocks. But as Raegan said "trust but verify", so I compare Oanda quotes and executions regularly with a variety of other FX feeds and must say that never got hit byt the "back tick", which would make me suspicious of stop hunting etc. Yes, they widen spreads around news, but it's wise to not gamble the news anyway and combined with tight spreads, no commissions and no slippage it's still good service and I'm not sorry that preferred it over 6E (though I often have 6E platform open just for the case).
As for stock traders, the beauty of many strategies is "set orders and forget it for the day" feature, which would be negated by waiting and only entering limit/stop entries right near the mkt. With the mobile technologies now anyone with a smartphone and access to broker's order book can easily copy and even front-run those pre-set orders. Illegal? Yes, but thinking that something being illegal ever stopped human greed, especially when chance of being caught is pretty low makes me laugh.
Ah, no. First - you know - only very few people these days CALL - it all happens automatically. I would like to see your broker being faster on his phone than his firms automated order execution system.
Sure. But don't some people at the brokerage firms have access to the book of resting orders in the system?
All is fine, Greek voted for bailout, world is now safe, global economic crisis is over, thank you everyone.