Disliked{quote} What do you think are the advantages and disadvantages of trading on a broker like Sucden/Stone X, CFH, Advancedmarkets.com or Baxter-FX in comparison to ICM ?Ignored
1
prop firm new model - my trading journey 871 replies
Anyone trading with a Prop firm 2 replies
So I accepted a Prop Trading job in South Beach Miami 43 replies
Disliked{quote} What do you think are the advantages and disadvantages of trading on a broker like Sucden/Stone X, CFH, Advancedmarkets.com or Baxter-FX in comparison to ICM ?Ignored
Disliked{quote} I've tried demos of CFH and AdvancedMarkets and their spreads were larger so when compared to IC Markets, I don't see any advantage especially since I think IC Markets is now the largest broker by volume. But let's see what the experts here have to say.Ignored
Disliked{quote} The simple answer to your question is that prop firms, with the exception of maybe 2 or 3, dont have the knowledge or experience to seamlessly manipulate the feed without detection. Even brokers don't do it these days unless its blatant and some shitbox company. The bottom line is, retail traders are so bad, you don't need to manipulate the feed. Back in the days of instant execution, you did need to do it, but just by providing market execution you eliminate the people who abuse price feed inefficiencies and the rest of the traders are...Ignored
Disliked{quote} Takisd, as you seem to be well aware of the area, a quick question: what about Interactive Brokers (for forex) ? And how do they compare with IC Markets ? And where do you put tickmill compared with those two ? (I understood that you're ok with tickmill, right ?)Ignored
Disliked{quote} So according what some people described, a B-book is just as a prop firm, it trades against traders. So why a prop firm does not abuse traders but most people think B-book abuse traders? I don't see the logic. If a B-book can do something illegal to take traders' money, then a prop firm can also. If a trader can find whether a prop firm gives him bad quotes, or wrong slippery, then a trader can also find whether a B-book does. So anyone who thinks a B-book is a bucket shop, then he would logically think a prop firm is a bucket shop. A casino...Ignored
Disliked{quote} Your explanation is not convincing at all. If a B-book does bad quotes and slippery to traders, sure traders will know and leave it, and that is not in the interest of B-book itself.Ignored
Disliked{quote} The simple answer to your question is that prop firms, with the exception of maybe 2 or 3, dont have the knowledge or experience to seamlessly manipulate the feed without detection. Even brokers don't do it these days unless its blatant and some shitbox company. The bottom line is, retail traders are so bad, you don't need to manipulate the feed. Back in the days of instant execution, you did need to do it, but just by providing market execution you eliminate the people who abuse price feed inefficiencies and the rest of the traders are...Ignored
Disliked{quote} Not every b book is cheating. There are some very credible, long standing b book brokers worldwide. What folks are saying is simply the broker/prop controls the feed, THEY CAN manipulate it, doesn't mean they all are. The most guilty are ironically, the most heavily regulated (imagine that?). The NFA/CFTC is supposed to be the toughest regulator(s) in the world and yet some of the biggest cheats have been uncovered in the US....think FXCM, Forex.com, even Oanda, Oanda just doesn't get caught, but their feed freezes all the time. 99% of the...Ignored
Disliked{quote} That is the problem. People say B-book is bad not because they cheat on traders, but because they can stand on the opposite of trader's trades. Having conflict interest with traders is not illegal, cheat is illegal. But people equate these two things. That is the problem. Just like a casino has conflict interest with gamblers is not illegal, cheat on gamblers is illegal. can I discover if a B-book cheat on me? of course I can. Because I have other quote sources. You can assure that some slight worse quotes or slippery will cause me to quit...Ignored
Disliked{quote} I'm not going to give broker recommendations because people are cult like around it. But all 3 of those are reputable companies. I use IBKR for non forex related stuff like ETF's. It is safe for me to say that you will have a positive fair experience with all 3.Ignored
Disliked{quote} https://www.investopedia.com/terms/s/slippage.asp If your broker does not have slippage, it is a casino.Ignored
Disliked{quote} I never said brokers don't have slippery. I said"BAD SLPPERY". That means a slippery that exceeds the normal range.Ignored
Disliked{quote} Are you talking about during news time or in normal times? I will agree with you if its during normal hours.Ignored
Disliked{quote} I'm a IB customer for more than a decade on non-forex and very happy. It's a one stop shop with great variety and good commissions. I was just wondering how they compare with ICM and tickmill exclusively in terms of forex execution. I've been using ICM but never paid much attention to IB on forex. And never tried tickmill.Ignored
Disliked{quote} Tickmill pad their liquidity a bit so its more stable price than icmarkets but less tight. Both are great though its hard to say bad about people who are giants because they are good.Ignored
Disliked{quote} That is the problem. People say B-book is bad not because they cheat on traders, but because they can stand on the opposite of trader's trades. Having conflict interest with traders is not illegal, cheat is illegal. But people equate these two things. That is the problem. Just like a casino has conflict interest with gamblers is not illegal, cheat on gamblers is illegal. can I discover if a B-book cheat on me? of course I can. Because I have other quote sources. You can assure that some slight worse quotes or slippery will cause me to quit...Ignored
Disliked{quote} Prior to prop firms, I ONLY used the unregulated, offshore brokers. Far better experience than any of the regulated brokers in the US. I still have a couple of smaller accounts with them. I think folks say b book is bad due to the conflict of interest ( I always thought this way as well) in regards to THEY CAN AND HAVE THE INCENTIVE TO CHEAT, not that they necessarily will. There are things that you will not notice, but could be very profitable on their end. Are you going to notice or can you even present a valid argument of a 0.5 pip spike...Ignored
Disliked{quote} But would you ever consider IB for forex instead of ICM ? I have accounts in both, that's probably my main doubt right now after reading everything you wrote. (and btw, thanks a mil for all you excellent insights about all this)Ignored