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For those who are interested, I traded with CMC.
What has been mentioned below can happen, but the way CMC have it setup it's
not easy for them to do. If CMC send you a new quote, it gets sent to
everyone and gives others the chance to deal at the new quote which you have
been given.
When I traded with CMC, there were times when they moved the quote against
me, but there were also times that I was able to deal at prices better than
the market. I think it evened out over time, so I was no worse off using the
internet rather than the telephone.
Some addition companies to the ones you mentioned are
Union CAL
http://www.unioncal.com
EForex
http://www.eforex.com
Regards
Simon
> You find entry that you hope will get you in the right direction.
>You want to send the market order through electronic trading system to
>get your market price which suppose to match with a dealing rates on you
>screen. Dealer sees you market order (that you send through the net) and
>he change the dealing price 3-8 points against you entry price (plus
>your spread) even if the market does not move at the moment. You could
>check this with all major data providers (I have three of them).
>
> There are no rules against this. Forex currency business is not
>traded on regulated market. The similar situation with stop-loss
>position. Confirmed by my own experience the execution of an order with
>Forex electronic system takes an average time of 10 to 40 sec.
>Fortunately, as an alternative, most of the electronic Forex trading
>companies take regular phone orders as well, which are also reflected on
>you computer account. This way if you are not too confident with the net
>you could call in the orders. In both situation you are the trader and
>if you do not try to predict the market, but rather trade with the
>market, and your trade are successful, 3-8 points in your initial
>buy/sell price will not make a big deference in Forex trading.
>
>For traders who interested in electronic Forex trading you could check
>out these websites:
>http://www.forex.com - electronic clearing system
>http://www.forex-cmc.co.uk - market maker
>http://www.forex-mg.com - market maker
>
>Good Luck
>Victor
_ .
Simon Trevor ,~' (_|\
s335159@xxxxxxxxxxxxxxxxx ,-' \
http://student.uq.edu.au/~s335159/ ( * <--Brisbane
Manufacturing & Materials Engineering Student \ __ / Australia
The University of Queensland \,~` "\__/
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