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Trevor,
do I understand you correctly ?
> 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.
Have they given you better prices when you put in market orders and
the market had "moved away" in your favour ?
This is the first time I hear about this and I have never seen it
when running their system.
The only company which is supposed to work differently is Union CAL.
They don't quote you - you have to request a quote via the
internet and then you hit either side. Supposingly this trade is
standing unless Union-Cal pulled off the quote within those 2
milliseconds that it took to hit the button and reached their
computer.
This example hits one of the problems: Apparently all the
market-makers are very scared to have the execution side
(logically the point in time when the trade is closed) on the side of
the client computer. Because whenver the connection went down between
the client and them AFTER the client closed the deal on his screen
but BEFORE it was reported to them they would be in deep shit.
So all system close the trade on THEIR computer. And this is why they
can always cheat you - if they want to.
Gerrit
> 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.
> 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
> \,~` "\__/
> v
>
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