Dealer intervention, by this do you mean that you get a re-quote or slow execution? Spikes taking out your stops, have you compared to live exchange feed?
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davecrom01
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Hello all.
I can understand what you mean about Dealer Intervention. CS can be horribly slow in confirming you are in or out of a trade. Wether that is because they have targetted your account I'm not sure - I always thought it was down to the size of trade you want to place. EIther way it's a right royal pain in the ass and will no doubt be the reason I move if I ever do decide to.
As for price spikes, I have to say I haven't EVER seen that with CS. I have three price feeds running, including Tradestation and Meta Trader - and I haven't ever seen CS be more than a couple of pips away from either of them.
Any examples?
I can understand what you mean about Dealer Intervention. CS can be horribly slow in confirming you are in or out of a trade. Wether that is because they have targetted your account I'm not sure - I always thought it was down to the size of trade you want to place. EIther way it's a right royal pain in the ass and will no doubt be the reason I move if I ever do decide to.
As for price spikes, I have to say I haven't EVER seen that with CS. I have three price feeds running, including Tradestation and Meta Trader - and I haven't ever seen CS be more than a couple of pips away from either of them.
Any examples?
After I have finished trading today I will dig out some examples. Never used to happen....has happened too many times for it to be a coincidence imo. Of course all SB firms can hide behind the "our prices are indicative" excuse meaning that they can be 10 points away and still say their prices are indicative.
davecrom01
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I may have made an assumption you were talking forex here. In which case, I would of course say that nobody has the "real prices" and therefore CS being "away" from a price by 10 is irrelevant.
If you are talking about non-currency, i.e the regulated markets, I can only talk on one instrument which is the S&P.
In the case of the S&P I can say that the CS price is nearly alays identical to the "real price" on the floor. I can say this with confidence as I have had an audio feed from the floor for quite some time and it matched pretty well.
If you are talking about non-currency, i.e the regulated markets, I can only talk on one instrument which is the S&P.
In the case of the S&P I can say that the CS price is nearly alays identical to the "real price" on the floor. I can say this with confidence as I have had an audio feed from the floor for quite some time and it matched pretty well.
..and therein lies the problem. I dont trade the S&P..and of course one cant actually "trade" the Dow..so the prices for Wall Street Daily can be pretty much derived in whatever manner they wish. I also trade FX and Oil (which IS traded on an exchange) and the same issue occurs.
At the end of the day, I dont make a huge fuss about it, but have done what all unhappy customers should do..move elsewhere. I have been with CS for around 4 years now and neve had any problems until relatively recently. As someone who trades for a living, I really cant accept a service where a dealer sits and waits to see which way the market is moving before deciding whether to accept or reject my order so have voted with my feet.
Im hoping that CS will improve their service for others who remain with them.
I am interested to know, do you get re-quotes or slow execution? Re-quote has not been an issue with CS as far as I am concerned. There have been some problems with "server error message" in the past, but this seems to have been solved by CS. Slow execution yes, CS do not have auto execution, this could certainly be an issue in a fast moving market. To their defense, one can get the right price even if it takes some time for them to execute. As far as prices reflecting the underlying instrument, all SB's have their own prices, so as long as the product reflects the movement of the underlying asset, I don't see a problem.
lurkerlurker
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I have to agree with that. While they don't have the time to actually sit on orders and wait for the market to move, I do believe that when the price has moved out of the spread they only ever fill to the clients disadvantage. I suppose it would be too much time and effort for them to check that the price you clicked on was a fair market price 15 seconds ago when you clicked and give you the fill on that basis...
I also voted with my feet. It is a shame as now there are more and more issues coming out on this thread, and it appears that their previously good customer service has gone to the wall.
During "normal" market conditions they execute faster, at volatile times such as news releases it is another ball game. I have not experienced CS to have real auto execution and instant notification, however it must be said they have improved in this area.
This I don't understand, as you don't get a re-quote or "price no longer valid message". If that is the case it is another issue.
Sound criticism based on facts are always good, customer service gone to the wall, that is a little bit strong isn't it?
lurkerlurker
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Yes, you get filled when the price has moved against you outside the spread, but the "price no longer valid" message when it has moved in your favour. I can't comment first hand on the customer service - what I was stating is that it seems to have gone to the wall based on the number of complaints here which mention the attitude of CS staff.
I agree, if one gets the "Price no longer valid" message as a means of rejecting a trade,CS is on the wrong track. "Zuke" has not confirmed this despite my asking him twice. It is very easy to complain, but along with complaints, there exists also the responsibility to back them up with concrete facts.
I agree the discussion on this thread has been too much in favor of Simon and CS. But I see also that we are getting a more varied and balanced picture, and that makes this thread more interesting to read.
oiltanker
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i thought if it was £5 or less a pt they were not too bothered and it was auto execution? After that they take an interest in what is going on? i have had fills both ways both for and against below £5. If the trade system is sound then the odd pip shouldn't matter? Maybe it changes over £5 a pt i don't know i haven't tried more than £3 a pt? I know some get 100k a year trading so it can't be the winning but maybe the style of winning?
Used to get decent execution on non FX and good executin on FX. Now I get ridiculously slow executions on all products and the odd re-quote. I may simply be being paranoid or it may be a genuine attempt against me. I actually dont care either way..I just know that it is unacceptable to me.
As I said before, I have a lot of time for Simon and I love CS's spreads and customer service..I just cant live with the tomfoolery that seems to be going on with my account.
davecrom01
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I think I am coming to a similar conclusion.
I had no problem with CS when I was trial-trading around the £3 to £10 per pip on forex. Above that, I think it's a real problem and have said so before.
I do not think that I am being targetted personally, and when I go back to £3 to £10 per pip, my execution speed (usually) returns.
I still think CS have good customer service with regards to solving issues because of the delay, but maybe that is to be expected rather than commended given the issue is theirs in the first place.
I am currently checking out futuresbetting.com as an alternative. As much as I like CS, I just don't feel comfortable depositing my primary trading account with them. That said, of course I may find the £5 to £10 per pip with FB to be fine as well, only to then find they have an issue with larger trades.
I just need to feel psychologically comfortable with my broker. This game is hard enough without having paranoid conspiracy gnawing away at me.
I had no problem with CS when I was trial-trading around the £3 to £10 per pip on forex. Above that, I think it's a real problem and have said so before.
I do not think that I am being targetted personally, and when I go back to £3 to £10 per pip, my execution speed (usually) returns.
I still think CS have good customer service with regards to solving issues because of the delay, but maybe that is to be expected rather than commended given the issue is theirs in the first place.
I am currently checking out futuresbetting.com as an alternative. As much as I like CS, I just don't feel comfortable depositing my primary trading account with them. That said, of course I may find the £5 to £10 per pip with FB to be fine as well, only to then find they have an issue with larger trades.
I just need to feel psychologically comfortable with my broker. This game is hard enough without having paranoid conspiracy gnawing away at me.
Sorry..only just saw this reference to me. Yes I have had numerous "price no longer valid..especially when betting 10 quid or more on front month Crude (WTI or Brent) and Wall Street Daily.
agree with your sentiments and for the avoidance of doubt I would say that my overall yearly results are not materially affected by what I perceive to be biased practice. However I have found it to be annoying and hence my bringing it up.
Order execution problems
Hi, I went through the last few pages but didn't find anything related to the following problem. So I though I would mention it to get your views.
I've been with CS for 3 weeks and the first two weeks, everything worked just fine. As of Friday last week, I started to have problems with execution of stop orders. I usually use a stop order to enter the market (on a breakout) and the following has been happenning.
I entered two stop orders (OCO) so that I'm in a position when breakout occurs. When the stop level is broken, the orders would dissappear from the Order book tab but no position would be opened on the Open positions tab. It was working just fine until last Friday, I guess. It's pretty annoying since I'm never quite sure if I have a position opened or not. This however is not so bad. I might miss a trade, ok.
But today what happened to me, I was long FTSE and the market turned against me. I had a stop order entered about 12 points away. However the stop order didn't get executed. I called CS (as they suggested in these situations) but couldn't reach them. After a while I decided to close the position manually with a loss of 21 points on top of my 12 points SL. Really annoying.
Has anyone else had similar problems?
Hi, I went through the last few pages but didn't find anything related to the following problem. So I though I would mention it to get your views.
I've been with CS for 3 weeks and the first two weeks, everything worked just fine. As of Friday last week, I started to have problems with execution of stop orders. I usually use a stop order to enter the market (on a breakout) and the following has been happenning.
I entered two stop orders (OCO) so that I'm in a position when breakout occurs. When the stop level is broken, the orders would dissappear from the Order book tab but no position would be opened on the Open positions tab. It was working just fine until last Friday, I guess. It's pretty annoying since I'm never quite sure if I have a position opened or not. This however is not so bad. I might miss a trade, ok.
But today what happened to me, I was long FTSE and the market turned against me. I had a stop order entered about 12 points away. However the stop order didn't get executed. I called CS (as they suggested in these situations) but couldn't reach them. After a while I decided to close the position manually with a loss of 21 points on top of my 12 points SL. Really annoying.
Has anyone else had similar problems?
