The Market Maker 'Myth'

Okay well I've used MT4 through Alpari in the past, for around 2 years and now S/B with IG. In my personal experience I find IG much better. Faster fills, hardly any re-quotes and tighter spreads. Alpari at times became unusable, the amount of re-quotes was infuriating and by the time you eventually got filled the market may have moved 20 - 30 pips already.

From what I can see I think IG have a radar, if you fly below the radar you'll be fine, what that radar is I'm yet to know but I think if you're trading over £20pp you shouldn't be on a S/B account anyway. I like the advantages of S/B i.e no tax which if I traded through Alpari I'd have to pay CGT. Having said this I have recently moved to Guernsey which is a tax 'haven' apparently but I do like IG. I think there is a lot paranoia about brokers and bucket shops and like has been said before people blame this for their own mistakes because it's easier to handle in their heads.

Anyway I'm happy with IG for the benefits of tax purposes, I do use MT4 charting software because I think it's superior to IG, and the price difference is so minimal (as long as you're not trying to scalp but if you're scalping you shouldn't do this S/B anyway) I only place my trades with IG but even so, as far as S/B companies go, you can't go wrong (y)
 
See the attachment - it may help you decide.

PS That's the best I can do - can't make it simpler.
 

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Doomberg said:
I've noticed that some of the people on here that use an ECN broker for example, seem to have this 'holier than thou' attitude towards anyone else who uses any type of SB company or any company who is a market maker. From what i've seen, it doesn't make that much difference in terms of where the price is, i often talk with people who trade DMA and when they ask what price i have at that instant its always the same, its never been out more than a point with IG or CS. So if the price is the same, and there is instant execution (which many SB companies now have) and similar spreads (often even smaller) then whats the problem?

Whats your views on SB & MM companies in general, and why?
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The difference is transparency. If transparency isn’t important to you then stick with spread betting and believe whatever you want about the differences.
 
As long as you make a profit, it makes no difference what you use. Professional tools, and brokers mean jack if you don't know how to make money. If you can do it with SB, the tax advantage is considerable. Also there's no BS work on the tax return.
 
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BeginnerJoe said:
As long as you make a profit, it makes no difference what you use. Professional tools, and brokers mean jack if you don't know how to make money. If you can do it with SB, the tax advantage is considerable. Also there's no BS work on the tax return.
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This is the equivalent of saying ignorance is bliss. :LOL:
 
new_trader said:
This is the equivalent of saying ignorance is bliss. :LOL:
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It is actually saying you don't have a clue. Success is not cliche. Doing what the conventional wisdom says will make you a loser like the 95%+. Making money has nothing to do with making the right noises.
 
BeginnerJoe said:
It is actually saying you don't have a clue. Success is not cliche. Doing what the conventional wisdom says will make you a loser like the 95%+. Making money has nothing to do with making the right noises.
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I am giving facts, not an opinion. The difference between S/B and true DMA IS transparency. You are being subjective.
 
new_trader said:
I am giving facts, not an opinion. The difference between S/B and true DMA IS transparency. You are being subjective.
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Transparency means jack if you don't know how to make money from it. That's a fact, both subjectively and objectively, or any other way you want it.
 
Doomberg said:
I've never really had an issue with any tbh, and on some bank stocks gone as high as +£400 a point

Also whats peoples views on Smart Market Live... they offer MT4

http://www.smartlivemarkets.co.uk/
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SLM seem to have major technical problems. Constant requotes, you can get invalid price several times in a row and often experience slippage of up to 7 points on something like EURUSD (and thats not over news). Happens on live and demo platforms (to be honest i think demo is actually worse) which is why i think they are genuine technical issues and not silly games.
 
BeginnerJoe said:
My advice would be stick with making money and cutting down the work and forget everything else.
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Great advice, now if only I could find someone who could actually trade my capital and obtain similar or even better results than I do then I could toss it off and sit on the beach all day.
 
new_trader said:
And if someone isn't making money, you advise them to remain ignorant?
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If someone is not making money from DMA, I suggest they try SB. In fact I suggest most people, the 95%+ of them, go to the casino because the odds are better there.
 
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