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  1. #1
    Veteran Member randy1953's Avatar

    A trading problem/spotoption !!!

    Hi folks some of you know me already. I trade 60 seconds and I live in the US. The brokers that will accept me are very limited which causes a big problem. I been trying to find a broker that uses a platform that is quicker and has none or few of the problems that Spotoption has.

    So far I been fairly successful on my 60 second trades began a account with $300 and made around $2300 in profit for the last month.
    I guess I'm what you would call a intuitive trader. All I do is watch and watch the charts and my entry will show itself and I'm off and running. However the other day someone mentioned using a candlesick method. Since my current broker does not have candlesticks option on their spotoption platform I downloaded another Forex trading platform and what I saw was very disturbing.

    I saw that the actual price on my trading pair would always vary a few pips sometimes as many as 10 but mostly 5 pips from my platform. So how does one know what the true price is? With this variance I saw what was happening to my trades as a example I would enter a put at 124.292 and on the other platform the price shows .288. Now I want to make my entry with a put as the highest number I can so I make my put and the moment it goes in the price drops down to 124.287. It seems like Spotoption willfully gives the wrong price and then uses the play in the actual price to go against you. I made screenshots showing the difference in price but my broker will just come back with we have the right price and the other one doesn't. the outcome of all this is I have stopped trading with this broker. The other broker I could find is Empire Options however once again they use SpotOption as a platform.

    the other thing I noticed on my trades is the broker seems to use this play in the actual price to knock you out of winning at the very end of the trade. Many time I was ITM and when it said validating my trade a quick swipe going 10 pips against me in a second and then settling back to where it was ITM causing me to loose the trade.

    If anyone knows of a decent broker that will take US traders and has a more accurate and faster platform please let me know.
    The whole kicker in this is I'm very good at 60 second trading but I can't continue to use my talent with the ways things are now.
    It's a real shame brokers just being honest will always make their money in the spreads and the payouts. there is no reason they need to be greedy and cheat. there is a member here that says he's been with Empire options a long time and they been good with him.
    I need to trade to make a living so if anyone has suggestions I have open ears.
    Thanks
    Randy

    Here's a screen shot showing a very abnormal difference in price

    Last edited by randy1953; 07-24-2015 at 05:57 PM.

  2. #2
    Active Member random's Avatar
    It's not so much that there are differences between the prices. Given the nature of FX, there's always likely to be slight differences. The more important thing is: is the difference consistent?

    If you're using one platform for entries and another for execution but there isn't a consistent difference between the two, then this could be a real problem.

    As for Spot Option, I've only really seriously used 2 brokers, and so far I haven't noticed any price manipulation when the trade is closed. It really does seem to follow my charts closely. This is not to say that I believe it doesn't happen, I just haven't noticed it from my relatively limited experience of the platform.

    I have noticed possible price manipulation to reduce risk and manage the broker's book:

    Last edited by random; 07-25-2015 at 01:39 PM.

  3. #3
    Veteran Member randy1953's Avatar
    Yeah I am still not positive the broker is doing anything but I think the software they are using is junk. For example my broker does not have a candle stick option bu Empire Options does. I think you said you trade 60 seconds also. Here's the way I place a trade I watch and first get my direction so lets say it's a put so I click put and then wait at the window watching the price if it comes more into my favor I click approve. However quite a few times after I hit approve I notice that it approves a different price sometimes it goes in my favor even more but sometimes not and when it goes the other way because I am playing so close I will likely loose the trade. I have come to the option that SpotOption is designed to make it far more difficult than if we had true click through processing those window delays only hut the trader not help.

  4. #4
    Active Member random's Avatar
    The price displayed on platforms is just indicative and is not necessarily the price you'll get when the trade is accepted. Some Spot Option platforms do not give you the opportunity to approve a trade or not on shorter time frames as it can give a trader an advantage. Because of this, they'll remove it if they deem a trader 'abuses' the approval option.

  5. #5
    Administrator Martin Kay's Avatar
    Randy, please see this thread: http://forums.binaryoptionsthatsuck....Options-Broker!
    we've tested a few brokers, calculated the difference between mt4 and the broker's feed. You'll see some shocking results, and some positive ones as well (:
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  6. #6
    Veteran Member randy1953's Avatar
    Quote Originally Posted by random View Post
    The price displayed on platforms is just indicative and is not necessarily the price you'll get when the trade is accepted. Some Spot Option platforms do not give you the opportunity to approve a trade or not on shorter time frames as it can give a trader an advantage. Because of this, they'll remove it if they deem a trader 'abuses' the approval option.
    Actually it's a disadvantage to a good trader to have those delay windows set up. SpotOption will not nor ever make it a direct access to the market if they did traders would win more. On 60 second trading it's most important that you get a true price when the trade is accepted. Having a program that just sits and then gives a very different figure is market manipulation and should have no place in real trading imo.

    The reason why you see abuse here is some traders are trying to get as close to the market price as possible so they cancel a lot of times but the real problem with SpotOption is you can cancel ton's of times but on that one time you go to approval that entry can and usually is not what you wanted. I don't know for sure because I only have traded SpotOption but I would think that other brokers like CTOption, Brokage Capitial and a host of others are using platforms that have no delay at all . Now there could be a slight delay in what you saw and what is accepted just because the market is moving faster than you can react but on the whole I am thinking that a true click through processing on 60 seconds trades can only help.

  7. #7
    Veteran Member randy1953's Avatar
    Quote Originally Posted by Martin Kay View Post
    Randy, please see this thread: http://forums.binaryoptionsthatsuck....Options-Broker!
    we've tested a few brokers, calculated the difference between mt4 and the broker's feed. You'll see some shocking results, and some positive ones as well (:
    Thanks Martin that's exactly what I was afraid of. I wonder if anyone here has a Brokage Captial account and could do one of those tests. I for sure would love to see it before I fund my account with them.
    Thanks a lot
    Randy

  8. #8
    Active Member random's Avatar
    Quote Originally Posted by randy1953 View Post
    Actually it's a disadvantage to a good trader to have those delay windows set up. SpotOption will not nor ever make it a direct access to the market if they did traders would win more. On 60 second trading it's most important that you get a true price when the trade is accepted. Having a program that just sits and then gives a very different figure is market manipulation and should have no place in real trading imo.
    It's not a delay window, it's an approval window. It's an advantage as, like I said, platform prices are indicative and are not necessarily the price you'll get when you enter a trade. You get 3 seconds to decide whether to accept the trade or not. If you keep cancelling, they'll soon remove the approval window (there's generally a certain percentage of overall trades you'll be allowed to cancel).

    It's not market manipulation, as there's no market involved. The broker provides a price which is representative of the underlying asset. Spread betting brokers may hedge their positions in the real market, but I doubt any BO broker would do that.

    A problem with Spot Option can be the trade acceptance speed, which is what I think you're trying to say. I agree that the processing speed can be slow, but that can vary between brokers using the platform.

  9. #9
    Active Member random's Avatar
    Quote Originally Posted by randy1953 View Post
    Thanks Martin that's exactly what I was afraid of. I wonder if anyone here has a Brokage Captial account and could do one of those tests. I for sure would love to see it before I fund my account with them.
    Thanks a lot
    Randy
    Well, from looking at their site it appears they use the Tradologic platform which is a white label similar to Spot Option. Now, imagine if you went to a FX broker and they said to your trades will only ever be negatively slipped, you'll never get positive slippage. Would you be happy? No. That's what you get with Tradologic.

    If, between hitting the trade button and the trade actually being accepted on their server, the market goes in your favour, your trade will be rejected. If, however, the market is the same or goes against you, the trade will be accepted.

    You also mention CT Option. They use Panda (not many brokers do). This is a better option than Tradologic as the trade execution speed is impressive. You will face other issues with CT Option, however, such as dubious terms and conditions, unnecessarily high withdrawal fees, having to speak to an account manager before they'll authorise a withdrawal (why?), very slow withdrawal speeds and so on.

  10. #10
    Veteran Member randy1953's Avatar
    [QUOTE=random;50438]Well, from looking at their site it appears they use the Tradologic platform which is a white label similar to Spot Option. Now, imagine if you went to a FX broker and they said to your trades will only ever be negatively slipped, you'll never get positive slippage. Would you be happy? No. That's what you get with Tradologic.

    If, between hitting the trade button and the trade actually being accepted on their server, the market goes in your favour, your trade will be rejected. If, however, the market is the same or goes against you, the trade will be accepted.


    thanks but where are you getting this info about Tradologic rejecting your trades if the market moves in your favor?
    Tradologic seems nothing like Spotoption but I am willing to learn how do you know this.

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