Broker trading against me?

[momothebored]

I could swear the charts on the oil futures i've been trading are being manipulated...

How can i prove this?

Routinely go down to trigger my stop losses, fake patterns and breakouts etc for the few minutes after i take a position..

Happens time and time again.

Have traded stocks for many, many years. Am not being paranoid.

 

[Trader333]

Who is your broker ?

 

[momothebored]

Who is your broker ?

Saxo

 

[Trader333]

Are they direct market access (DMA) ?

 

[momothebored]

Are they direct market access (DMA) ?

Not that i know of.

 

[momothebored]

Not that i know of.

I know this can be done easily with derivatives and forex, but can it be done with vanilla equities with equal ease?


I'd imagine it would be much easier to spot deviations and call them out, no?

 

[Trader333]

Then they probably will be trading against you.

 

[momothebored]

Then they probably will be trading against you.

can i sue?

 

[Trader333]

I doubt it as it would be the same as suing a bookmaker for taking your bet and then complainig when you have lost.

 

[momothebored]

I doubt it as it would be the same as suing a bookmaker for taking your bet and then complainig when you have lost.

So they can take any bets they want and control the outcome?

 

[Trader333]

Well if you want to challenge them you need an independant datafeed that shows the price didn't go where they are making it go.

 

[drtro]

Lol, I knew you were a delusional trader. "Manipulation!"

 

[momothebored]

Lol, I knew you were a delusional trader. "Manipulation!"

Nooblet doesn't know of market makers trading against their clients?

Is this your 1st month trading?

Better go back to flipping fries

 

[kalott]

http://www.bloomberg.com/news/artic...8-billion-five-plead-guilty-to-market-rigging

 

[moka2]

When you trade with a Market Maker there is a possibility of conflict of interest
Why not trade the Futures directly?
What advantage do you get by trading with somebody like Saxo over trading directly on the exchange via a execution broker
For example in Singapore Phillip Capital! (Futures division)

 

[jamezz34]

With equities you have a number of possible execution venues where your broker can route your order, which depending on the broker can take the other side of your trade...Have a look at the broker's execution policy...IB profess to not do it, others probably will against their own inventory to save on fees..For futures...let's say the Tnote, this is a CME product and that is where the order will be routed...I guess they could still take the other side and fail to pass on any positive slippage, but I usually submit limit orders into the DOM anyway. If your broker does decide to take the other side of the trade, the risk would be on them unless they internalised it instantly, after reading some FCM's execution policies they don't deny they receive PFOF so they may be compensated by routing their orders to a particular friendly clearing firm anyway, this sort of kickback is risk free for them where internalising they have to be careful about balancing market exposure....So I assume they would rather be compensated through PFOF by choosing a certain clearing firm and routing it directly and collecting their juicy commission from you anyway...

Another thing is that with equities they may already have some inventory to offset it against but with futures there is no actual shares of anything, it's just a commitment so may be less prevalent..

I guess you could stick to FCMs that self-clear at the futures exchange you are trading e.g Marex or RJO

I stand to be corrected, I'm no expert!

 

[hhiusa]

I prefer IB. They are great for equities and provide direct access to interbank rates, even though the trade minimums are high.

 

[moka2]

I prefer IB. They are great for equities and provide direct access to interbank rates, even though the trade minimums are high.

WIth Ib you get an added advantage

Since it's Equity division is SIPC protected the excess funds from the Futures or FX trading are swept in to that account Thus giving you some protection
And you can trade all 3 from 1 A/c + low comms!

Negatives:
Platform bit tedious
Min A/c 10K

 

[alexaherself]

Brokers don't trade against anyone: only people pretending to be brokers trade against their clients. Saxo "Bank" is not a broker. It's a barely regulated market-maker, and one with a highly questionable reputation, too.

 

[hhiusa]

WIth Ib you get an added advantage

Since it's Equity division is SIPC protected the excess funds from the Futures or FX trading are swept in to that account Thus giving you some protection
And you can trade all 3 from 1 A/c + low comms!

Negatives:
Platform bit tedious
Min A/c 10K

Concerning the low commissions if you move around enough liquidity, then the commissions can be around $0.0005/share, which is entirely offset by the add liquidity rebates from most exchanges.

Negatives:
Requires $25,000 per trade for Forex. Orders less than that amount are routed to odd lots.

USD US Dollar 25,000 7,000,000
AUD Australian Dollar 25,000 6,000,000
CAD Canadian Dollar 25,000 6,000,000
CHF Swiss Franc 25,000 6,000,000
CNH China Renminbi (offshore) 160,000 40,000,000
CZK Czech Koruna USD 25,000(1) USD 7,000,000(1)
DKK Danish Krone 150,000 35,000,000
EUR Euro 20,000 5,000,000
GBP British Pound Sterling 17,000 4,000,000
HKD Hong Kong Dollar 200,000 50,000,000
HUF Hungarian Forint USD 25,000(1) USD 7,000,000(1)
ILS Israeli Shekel USD 25,000(1) USD 7,000,000(1)
KRW Korean Won 50,000,000 750,000,000
JPY Japanese Yen 2,500,000 550,000,000
MXN Mexican Peso 300,000 70,000,000
NOK Norwegian Krone 150,000 35,000,000
NZD New Zealand Dollar 35,000 8,000,000
RUB Russian Ruble 750,000 30,000,000
SEK Swedish Krona 175,000 40,000,000
SGD Singapore Dollar 35,000 8,000,000