Why does C2 not directly interface with Forex.Com? Since FXCM is going over to Gain Capital, why does C2 have to use TradeProFutures as the IB instead of a straight shot to Forex.Com through Gain. It seems that when looking at forex fills, Gain Capital is losing the battle. I was just wondering if this was due to the middle IB getting his cut? Thanks, Huck.
You raise an excellent question Huck. I’ve emailed the person who set up my Gain account to contact her superiors and come up with an answer to this. Sent her screen shots of recent Forex trades, showing how Gain is way at the bottom of the totem pole in regards to fills. Recent real time average fills for a EURJPY short via ConservProfit: FXCM 120.9103; IB 120.901; and Gain 120.89667!!! No way the Gain subscribers are going to make anywhere close to the performance shown for ConservProfit.
If I hear anything newsworthy from my contact, I’ll let everybody know.
This is interesting… I haven’t moved my account yet from FXCM, but have the Forex in process of being setup.
Can we still go to IB?
Robin
If your net worth is $10 million, then yes
Mark - Ughh… Should we be looking at other approved brokers for ConservProfit https://trade.collective2.com/compatible-brokers/ ?
From Matt’s recent posts on this issue, my understanding is that Gain is our only choice for auto trading Forex. You should ask him directly tho.
Hello Huck, there is no additional cost to use Trade Pro. There is also no link on the FOREX.com site that gives you access to the type of account you need for C2. If you call FOREX.com directly you may find that they are unfamiliar with C2 and the process needed to connect your account. I have even been told that when people called FOREX.com that they tried to sell them some other product instead of C2 that requires 20k or more of capital. We work with C2 very closely and have many customers trading live with C2 since FXCM shut down (including you). If it does not cost you anymore than why not talk to people who know exactly what you are trying to do and can help you along the way?
You can use Daniels trading for Gain capitol. has anybody tried them?
It still seems like we end up at Gain Capital.
Yes still Gain Capital. But maybe spreads better? Not sure. Just open my
Daniels/ Gain account. Are you still finding much higher slippage at Gain?
I was also looking at MB Trading that uses Tradeking. It seems that Tradeking is also an introducing broker for Gain Capital. Is there not an alternative from Gain?
Since C2 will be placing a multitude of fewer trades with Interactive Brokers since many subscribers are now forced to use some form of Gain Capital, will they reduce their fee for other Interactive Broker transactions? It seems only fair and democratic that they should.
Does anyone know about Onada.com? Their website suggest excellent execution and costs. They tout many awards for performance and price.
MB could be very interesting mutii asset trading, I missed that one. I haven’t found any alternative yet. I will keep searching
Still Gain capital. I wonder if we can just hook up directly with Gain / forex.com and cut out the IB?
Sorry Huck you already asked that question. lol I will call C2. It does say under supporting brokers. Gain! Could that be forex.com? I will call or email
Yes Leo, that was what I meant by my original post. Why do we need an IB?
I got in touch with Trade Pro Futures and I asked them about the market width in their FX markets… here’s what they said:
PRODUCT SPREAD
EUR/USD 1.3
I followed up and asked:
If EUR/USD is 1.0513 bid, it’s offered at 1.0526. Is that what you mean by a 1.3 spread?
answer:
Yes
The transaction cost is built into the spread so there are not any additional transaction costs.
This explains the reason behind the wide spread… and this is a pretty wide market !!! terrible… they did not say anything regarding the bid/offer size… so who knows how much slippage will be…
I personally don’t like this option, and I’m wondering if C2 can offer us something else…
Roujee
He is mistaken thats not 1.3 pip thats 13 pips and i know forex.com spread isnt 13 pips . Check this link during trading hours
So I do you know that Forex.com has an active trader program that has smaller spreads? They will not let you apply when you have a IB, an we are required to an IB to Auto trade! Theses spreads are rather large and this is frustrating to all of us.
So having an IB does cost you more $$$$
