ETX Spreads slippage

[barjon]

No offence, but you sound a bit like them Barjon

None taken, Zen

Maybe you should change brokers.

 

[China Diapers]

For every trade I use a stop. I use distance from the entry level to the stop to calculate the amount I am willing to risk per trade.

Let's say if my stop get hit, I'll lose £100. Then price goes to my stop level, but my broker doesn't close my trade at my stop level and let it run into a bigger loss. They eventually close it, but my real loss is now £113 instead of planned £100. That is 13% more than what I was ready to pay for that failed trade. If I risked £1,000 with 13% extra that would be £1,130 etc.

PS It's easy to find out - just check your stop order level and the level it was executed at. If it's worse - you have a slippage

Well if you find that a little hard to believe, you may have a problem

This is what I do too

 

[ZEN archer]

This is what I do too

Mind you CD - there are also some other ways where slippage can help make your account lighter. If you enter trades at precise levels - some of them may get you in although the real price never got there (this is my experience with some other brokers, not ETX so far) if you are using orders to enter trades. Also they may get you in at much worse price than your intended level and if you even make some profit they would've cut a nice chunk at the very entry for you.

Also there is a possibility that some of the extremely bad brokers may hit you with a double whammy: for example you place an order to enter with stop connect to it. They slip you at the entry and your trade turns sour and hits your stop where they hit you with another slip. So many different ways and I only mentioned few of them.

And then some of them use special software that Pboyles mentioned. By doing that they make it very difficult to succeed as a trader - you have the market trying to s***w you and on top of that special software. I would say no chance whatsoever.

PS Just mentioning this in case there are some members new to trading and may try to decide which broker to use based only on how tight the spreads are. The execution and price accuracy are often more important imo

 

[Templar42]

I must say I've never experienced slippage trading equity SBs on Interactive Markets (GFT). The only thing I have noticed is that orders are filled according to the increments that the price is moving in, which can go for or against one. E.g., if VED bid is 1116.69 and my order is to sell at 1116. 63 then it will be sold at 1115.69 if it ticks down, because there's no price point in between. The solution is simply to set one's orders according to the increments.

People seem to be talking about a more malevolent phenomenon here, which I've never noticed.

Could anyone who has traded equity (not Forex or Index) SBs with ETX provide a definitive answer?

Have you found that order execution under normal conditions (not massive post-RNS movements, not the first 10 mins of the trading day, not on positions opened 10 seconds ago, etc) is poor or disadvantageous in a way that exceeds the mundane type of slippage I described above?

 

[malaguti]

I must say I've never experienced slippage trading equity SBs on Interactive Markets (GFT). The only thing I have noticed is that orders are filled according to the increments that the price is moving in, which can go for or against one. E.g., if VED bid is 1116.69 and my order is to sell at 1116. 63 then it will be sold at 1115.69 if it ticks down, because there's no price point in between. The solution is simply to set one's orders according to the increments.

People seem to be talking about a more malevolent phenomenon here, which I've never noticed.

Could anyone who has traded equity (not Forex or Index) SBs with ETX provide a definitive answer?

Have you found that order execution under normal conditions (not massive post-RNS movements, not the first 10 mins of the trading day, not on positions opened 10 seconds ago, etc) is poor or disadvantageous in a way that exceeds the mundane type of slippage I described above?

I already have given my answer Templar. I trade ETX with equities and no slippage. However "definitive" it isn't as we have seen that others suffer differently it would seem.

 

[barjon]

.................Could anyone who has traded equity (not Forex or Index) SBs with ETX provide a definitive answer?...................

I trade equities, mainly CFD but some with SB using ETX.

I have not experienced slippage beyond what's reflected in the underlying. If the underlying gaps or the spread widens then you will be taken out at the bid/offer on the book at the time if the reflected ETX price (the underlying bid/offer + their extra bit) is at or worse than your order - there doesn't have to be a trade at that level.

 

[ZEN archer]

Could anyone who has traded equity (not Forex or Index) SBs with ETX provide a definitive answer?

Do they use that designer slippage only for FX and Indexes?

 

[Templar42]

Do they use that designer slippage only for FX and Indexes?

I have no idea, but I don't trade those instruments. It seems from what the posters above have said that the equities are fine, which is all I would be concerned about if I decided to switch.

 

[ZEN archer]

I have no idea, but I don't trade those instruments. It seems from what the posters above have said that the equities are fine, which is all I would be concerned about if I decided to switch.

Good luck Templar42:clover:

Maybe somebody from ETX comes along to shed some light on all this. I guess they would vigorously deny in case they don't use designer slippage:?:

 

[Vasco da Banana]

ETX had some of the most obvious designer slippage when I used them, even at piffling little stakes, so I never felt inclined to risk larger stakes. Trading the market is difficult enough. Who wants to be trading against the SB as well?

 

[China Diapers]

Sounds like something you'd see at London Fashion Week. Happy St. Paddies day everyone! :clover::clover::clover:

 

[China Diapers]

I was in touch with somebody at ETX a few days ago and mentioned I was in two minds about opening an account with them because of all this talk of designer slippage. I gave the link to this thread and said it was the most read thread in the last 7 days (which it was at the time) and it would be great if somebody from ETX could leave a comment. That was a conversation stopper, but maybe they will make an appearance at some stage.

 

[ZEN archer]

and it would be great if somebody from ETX could leave a comment.

That's a good idea - good for business.

If they deny it (using designer slippage) that would attract clients who are trying to escape from other bucket shops

 

[China Diapers]

That's a good idea - good for business.

I thought so

 

[Vasco da Banana]

I thought so

I think they've already replied in other threads.

 

[China Diapers]

Reading it now