Quoting JMKForexDislikedFXSOL isn't any better either. Their demo might be great, but I have been trading live with them for about 1 year now and am changing asap. Forget placing orders around news events because not only will they not allow you to place an order closer than 25 pips, but then they will slip you another 15-25 pips from your order! Fxsol has gotten really bad lately, and can not recommend them at all. Even on market orders, I get requotes all the time and when my market order finally goes through I look at my open position and I am -6 or -10 pips! I mean their spread is 3 pips and there should be no reason that I get slipped that much just from a market order. My advise look for a different broker, especially if your trade around news time.
Anyone have experience with AC-markets around news? Good? Bad?
ThanksIgnored
FX Sol isn't having any issues that are different than what others are doing. They are simply wising up. The rule of thumb is, with FX Sol, if you want to avoid the limit premium, then place a trade 10-15 minutes before the news. The reason they utilize the limit premium is because they know they can't get your order filled if the bank prices jump. So, in order to feed the bank orders, they want you to place your limits (which become stops) so they can get triggered properly (as opposed to shooting right through the limit orders...if they don't get traded, they don't make money).
While it may not seem like a wonderful thing to some people, for FX Sol it's a whole range of orders that can get executed.
And YES, less people end up using limits because of this...and while this doesn't seem like a good thing on the outside, it's actually a good preventative measure to prevent people from trying to place limits that will get jumped when the price moves anyway.
During news releases, especially the ones you're talking about (FOMC, CPI and NFP), slippage reigns supreme...it's going to happen...period. This should be factored in completely when trading...no matter who you trade.
Even ECNs will suffer from some slippage during NFP, so no one is immune...everyone needs to just realize that the speculative market will simply take it's money during this time...
during CPI, FOMC and NFP, 10 pips IS a good slippage in my opinion...if you trade 5 lots, sure...that's $500...but if you KNOW what you're trading, 10 pips should be such a SMALL portion of what you'll make that day. That type of movement nets you 50-150 pips in a matter of minutes (and that's AFTER slippage!)...at 5 lots, you're rollin...$500 is piss in the bucket.
Slippage is a fact of life during news, peeps...
FOREX.com, FX Sol, FXCM any broker...they will all have different ways of handling the increase in volume.
I always wonder what people are thinking when news releases get posted...it just seems that we get a lot of complaints about brokers around these times...perhaps we all need to just re-evaluate what we're doing during those releases to help us move into profit quicker.