Hi all,
I finally opened an account with SmartTradeFX, using the SmartTrade platform. See my post on forexpeacearmy.com for some initial issues (I am TM,,USA at http://www.forexpeacearmy.com/public...arttradefx.com).
Normally, I place orders, rather than trading live, and only check in once in a while, so I had no problems last month. Yesterday and today, I was trading live during the volatile time.
Wow, their performance is a disaster! They have a FIVE MINUTE delay on the charts. This would be incredible if they let you trade, because you would literally know the "future". Unfortunately, they simply do not let you trade!
Problems:
1) click to enter a new trade, or even an order for a new trade at a future price (limit/stop order), and you get the error "No Instrument Available"
2) if the order/trade window does open, once you approve the trade, even at what it is showing as market price, it gives you an error saying the price is different, kind of like a requote, but seemed different. It did not allow you to accept a requote price; rather, it said something about entering a different price when you place the trade. Bottom line, I could not figure out how to enter the trade, even at the REAL market price.
3) if you do happen to have an open order, and its price gets hit, it sometimes reflects the execution right away, and sometimes has a several minute lag. Yesterday, a trade executed and showed in open positions about 3 minutes before the price actually reached there on the chart/dealing rates windows (although it had reached it on Oanda, Tadawul, and ForexFactory).
Today, unless the market has slowed down some, I have not been able to open a trade window to place a trade.
I sent them an email. Will see what happens. Obviously, if this continues I will be on the prowl again for another broker who accepts USA residents and allows hedging. I sure wish Tadawul was still allowing US, they had great performance.
PS - if you see my forexpeacearmy.com post, I had one issue still open - spreads. I looked at their MT4 spreads, and they are about 3-4, making them match the fees/commissions being charged to me on Smarttrader platform. Personally, I prefer the fees/commissions to spreads, because you have a greater chance of your trade prices actually executing. But just understand, the true cost is about 1.1 pips per 100k lot, and then add the market spread.
I finally opened an account with SmartTradeFX, using the SmartTrade platform. See my post on forexpeacearmy.com for some initial issues (I am TM,,USA at http://www.forexpeacearmy.com/public...arttradefx.com).
Normally, I place orders, rather than trading live, and only check in once in a while, so I had no problems last month. Yesterday and today, I was trading live during the volatile time.
Wow, their performance is a disaster! They have a FIVE MINUTE delay on the charts. This would be incredible if they let you trade, because you would literally know the "future". Unfortunately, they simply do not let you trade!
Problems:
1) click to enter a new trade, or even an order for a new trade at a future price (limit/stop order), and you get the error "No Instrument Available"
2) if the order/trade window does open, once you approve the trade, even at what it is showing as market price, it gives you an error saying the price is different, kind of like a requote, but seemed different. It did not allow you to accept a requote price; rather, it said something about entering a different price when you place the trade. Bottom line, I could not figure out how to enter the trade, even at the REAL market price.
3) if you do happen to have an open order, and its price gets hit, it sometimes reflects the execution right away, and sometimes has a several minute lag. Yesterday, a trade executed and showed in open positions about 3 minutes before the price actually reached there on the chart/dealing rates windows (although it had reached it on Oanda, Tadawul, and ForexFactory).
Today, unless the market has slowed down some, I have not been able to open a trade window to place a trade.
I sent them an email. Will see what happens. Obviously, if this continues I will be on the prowl again for another broker who accepts USA residents and allows hedging. I sure wish Tadawul was still allowing US, they had great performance.
PS - if you see my forexpeacearmy.com post, I had one issue still open - spreads. I looked at their MT4 spreads, and they are about 3-4, making them match the fees/commissions being charged to me on Smarttrader platform. Personally, I prefer the fees/commissions to spreads, because you have a greater chance of your trade prices actually executing. But just understand, the true cost is about 1.1 pips per 100k lot, and then add the market spread.