A few questions from a new user...

[janiszew]

Hi,

I just started using the ExpressFX platform after having traded stocks the past five years. I was pretty successful with the expressfx demo but have a few questions about some differences I see with the live trading.

1. Price quotes seem to take much longer, minutes in my case, and yes I've tried refreshing the request. I'm missing entire moves because of this, any thoughts?

2. I tried trading the gbp/usd a couple hours after the US markets closed. As before it took an annoyingly long time to get a price quote but I finally got an entry for a small fade. As expected my position turned to a small profit and I tried to close, but could not get a quote. Soon and predictably so, the position turned and blew by my entry. I tried for 25 minutes to close the position for an ever increasing loss and nothing. Eventually it came back and I was able to close my position at even (likely simply trading with myself) and breathe. Are the markets so illiquid at times that price quotes can't be established for 20+ minutes? Yikes, not something I really want to deal with, you'd think with trillions exchanged daily it'd be more liquid than that. Any one have some input?

3. I got a message saying I was requesting too many quotes? Seems silly, isn't that a large part of the brokers job, plus it's computerized, no? Any negatives to receiving this message? Is that why my quotes take forever and how can I fix it?

Thanks for any feedback.

[mayday]

Hi,

I just started using the ExpressFX platform after having traded stocks the past five years. I was pretty successful with the expressfx demo but have a few questions about some differences I see with the live trading.

1. Price quotes seem to take much longer, minutes in my case, and yes I've tried refreshing the request. I'm missing entire moves because of this, any thoughts?

2. I tried trading the gbp/usd a couple hours after the US markets closed. As before it took an annoyingly long time to get a price quote but I finally got an entry for a small fade. As expected my position turned to a small profit and I tried to close, but could not get a quote. Soon and predictably so, the position turned and blew by my entry. I tried for 25 minutes to close the position for an ever increasing loss and nothing. Eventually it came back and I was able to close my position at even (likely simply trading with myself) and breathe. Are the markets so illiquid at times that price quotes can't be established for 20+ minutes? Yikes, not something I really want to deal with, you'd think with trillions exchanged daily it'd be more liquid than that. Any one have some input?

3. I got a message saying I was requesting too many quotes? Seems silly, isn't that a large part of the brokers job, plus it's computerized, no? Any negatives to receiving this message? Is that why my quotes take forever and how can I fix it?

Thanks for any feedback.

Hi janiszew,

Our Request for Quote can take some time when the market is volatile. Basically, the RFQ function locks into a price quote so that you experience zero slippage while trading on the markets.

Many traders have the same complaint that you have, and we are constantly moving to give our traders the best trading terms, so in the very near future (before July), we'll be releasing a brand new platform that has instant execution and one click trading. There will be no more worrying about the RFQ feature's slow execution time, but our clients may experience slippage with this platform.

20 minutes is too long... Our RFQ usually takes anywhere from 15 seconds to a minute. If you find that this is happening, you should contact support immediately.

If price is taking an abnormally long time to lock in (say 20 minutes) when you're trying to close a position that you feel urgently needs to be closed, it's very important that you contact the dealing department so that they can manually close your position. Their email address is dealer@fxclub.com. An email entitled "Contacting the Trading Desk" should have been sent to you with their phone number. If you don't have their number, please feel free to PM me, and I'll give it to you.

You shouldn't hit the RFQ button more than once.

I hope this information was helpful, and if you have any more questions please feel free to ask.

Sincerely,

[fuddelmer]

I had the same problem when I start to do real good I get slippage and I also have to wait for ever to get out . I called tech support and they said I looked like a robot and that puts me at the end of the Q and this is Y it takes so long to close . Then after I call them it is ok for a while then it starts right back up again and I have to keep calling and telling them I'M NOT A ROBOT . This really stinks and they should stop this robot thing .

[TXFX]

Hello everybody,

Quotes delays are possible only if you exceeding a reasonable amount of price requests.

Click button "request a price" once and normally in 5-7 seconds you’ll get a two-way quote (Buy and Sell). Those prices are yours for 4 seconds and they are guaranteed.

When you constantly getting prices and do not place any trades, system might start filtering your requests for security reasons. In this case you simply call support dept and they will take care of it.


Enjoy,

[mayday]

I had the same problem when I start to do real good I get slippage and I also have to wait for ever to get out . I called tech support and they said I looked like a robot and that puts me at the end of the Q and this is Y it takes so long to close . Then after I call them it is ok for a while then it starts right back up again and I have to keep calling and telling them I'M NOT A ROBOT . This really stinks and they should stop this robot thing .

Hi Fuddelmer,

I'd just like to give you some advise on how to place your orders as speedily as possible. But first, its important to know that there is no slippage on our ExpressFX and Rumus trading platforms. By definition, slippage occurs during fast markets when an order is made where the actual price shown differs from the price you receive. Our RFQ features ensures that the price you see is the price you will get - no matter of market conditions that occur while the quote is being shown.

Make sure that you have patience. If you place an order, cancel, place the order again, or hit the buy/ask button several times, you'll delay the process and be mistaken as a "robot".

In the very near future, we will have a platform that will have "instant execution", so you won't have to worry about RFQ, but slippage may occur on that platform.

I hope this information helps. Please let me know if you have any other questions.

[magick]

i've been using Express FX for over six months. it was annoying at the beginning cuz u feel it takes forever to get the price, especailly when u were using one click trading platform such as MT4 before. however, the beautiful thing i found is that i have choice not to make a deal if the price came out is not ideal for me(ps, i got better price sometime). i don't quote price frequently because i feel i shouldn't chase the price;in fact, i should follow the market. That is just my though. Anyone want to share?

[sunshine800]

i've been using Express FX for over six months. it was annoying at the beginning cuz u feel it takes forever to get the price, especailly when u were using one click trading platform such as MT4 before. however, the beautiful thing i found is that i have choice not to make a deal if the price came out is not ideal for me(ps, i got better price sometime). i don't quote price frequently because i feel i shouldn't chase the price;in fact, i should follow the market. That is just my though. Anyone want to share?

Hello Magick,

I agreed with U!!. When i started to use Express platform, i find it annoying too, i have to wait but as i explored more into this platform, i began to like it. I have my freedom to buy or sell depends on the price i got and no slippage. I used to trade with the OTHER forex com using MT4, many times, when i check my trading report, i didnt get the price i asked for. I was very annoyed, a few pip here and there do add up. That is why I came to FXCLUB. FYI, they offer a new trading platfor, ACT TRADER, I am using the demo, very cool, do check it out.

[magick]

Hello Magick,

I agreed with U!!. When i started to use Express platform, i find it annoying too, i have to wait but as i explored more into this platform, i began to like it. I have my freedom to buy or sell depends on the price i got and no slippage. I used to trade with the OTHER forex com using MT4, many times, when i check my trading report, i didnt get the price i asked for. I was very annoyed, a few pip here and there do add up. That is why I came to FXCLUB. FYI, they offer a new trading platfor, ACT TRADER, I am using the demo, very cool, do check it out.

thanks for share sunshine, and i love the new platform!

[109]

hello
I woud like to now, in book of taran, say when in market enter big lots, that drive the market, question is insofar big lots must to be from drive GBP or EUR/JPY on 100-300 pp(points)

[mayday]

hello
I woud like to now, in book of taran, say when in market enter big lots, that drive the market, question is insofar big lots must to be from drive GBP or EUR/JPY on 100-300 pp(points)

Billions upon billions of dollars.

To give you an idea, the last time the Bank of Japan intervened in the market, they put in $20 billion. The Japanese yen only went down roughly 150 pips from this move.