Alpari UK
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It's stuff like this that makes me question Alpari. It's like you've told yourself so many lies over the past that you now actually believe this is the truth. Please Alex Chadovski don't think I am aiming this soley at you.
I have had an account with Alpari and with IG Index and also with a new outfit called Gekko.
Alpari requotes can be unbelievably annoying and happen most of the time, even in non volatile markets. You say this is an inescapable fact of life, well so is death, which is the way most accounts end up with Alpari. The requotes at Alpari compared to IG index is nothing alike. Since I've been there I very seldom have requotes and when I do it has been in genuinely volatile conditions. There is no need for this many requotes. You say they have been around since markets began and the only alternative is fill or kill. This is total bullsh*t and you know it. There are no need for requotes at all and it is a common tactic used by SB companies who have this policy so ingrained into their workings that they can't stop. The videos at the start of this thread, that has happened to me on occasion.
Trade context busy because of either two ea's or two orders at the same timePlease, I've never had an ea and only open one position at a time. You see Trade Context Busy so often I don't know why you don't have this as your motto.
Listen it sounds as though I am bitter. I lost money with you guys but NOT because of the above, I lost because this was a few years ago and I didn't have a clue what I was doing. The requotes didn't cause me to lose, nor the trade context busy, what it did do was really fu**ing **** me off though so much so that I took my accounts elsewhere where I have had nothing even remotely similar.
This is all hear say evidence of course, I have no proof, it's just my personal experience. Would I have an account again with Alpari? Yes but only a micro account for testing out strategies etc...
Hi Soloquan,
Thank you for your reasoned and rationalised argument. It is however absolutely and unequivocally incorrect. Re-quotes have been around ever since the markets were allowed to float. At Alpari UK, we have staff who have been in the market for considerably longer than twenty five years. This was when fx trading was done via telex and phone brokers. When prices changed, re-quotes were given.
To avoid re-quotes you can opt for a Direct Market Access (DMA) account. We at Alpari (UK) refer to this as a Pro account. The basic difference here is that prices are not held static (for a few seconds) like non-DMA accounts, they constantly change. Consequently, the fill or kill orders. DMA accounts however do charge a commission (in lieu of spread) for each trade that you place.
To minimize re-quotes on non-DMA accounts:
1. "Enable the maximum deviation for quoted price" checkbox and set it above 10. This implies the max deviation is just 1 pip. To prevent re-quotes during volatile trading times, you may want to set the max deviation between 10 to 40 points (1 to 4 pips).
2. If you use an MT4 indicator to detect spread widening, please make sure that your indicator is configured for the 5 decimal pricing system that we use. Otherwise a 3 pip spread-widening will be shown as 30 pips by the indicator.
3. Another thing to consider is your internet connection to our servers. Test your latency by pinging the Alpari trading servers or just ping alpari.co.uk. If your latency is high (higher ms numbers), then this is one of the factor causing your orders to be re-quoted.
For example, let’s say a client is complaining about re-quotes. He gives us an account number and we pull the logs. We find that we received his order at let's say, 9:01:11 and sent the execution back at 9:01:12, so less than a second. He claims it took two minutes and was requoted. Now, his logs showed that the order was placed by him (manually) at 8:59:50. So, yes, assuming all timestamps are correct, that looks like 2 minutes, but we can clearly see that from the time it was received on our end until the time of execution it was barely only a second, hardly a bad time.
Traders in UK and Europe enjoy significantly lower latencies (hence higher speed execution) and experience almost no re-quotes (when maximum deviation setting is correct) than other traders usually in Asia, Australia, Africa or in countries where the internet is routed via proxies such as Saudi Arabia.
Also, for the sake of clarity ‘Trade context busy’ is a well documented user error. Trades are interrupted on the user end, even before they reach our servers.
I'm rather sorry to hear that you decided from move on from us. However, as a client your thoughts are important to us. Constructive feedback helps us fine-tune our offers and services. Should you have any further suggestions or questions, please email [email protected] . We'll be happy to help.
Alex
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Alexander Chadwick
Alpari (UK) Representative
