PFGBest - any plans to add futures trading with this broker?

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Tresor
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PFGBest - any plans to add futures trading with this broker?

Postby Tresor » 01 Jul 2011

Hi MC,

I am testing MC - PFG integration right now. The forex connection seems good.

There are only forex symbols available to trade with this broker. Are there any plans at MC to integrate futures trading with this broker?

Thanks

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Re: PFGBest - any plans to add futures trading with this bro

Postby Stan Bokov » 04 Jul 2011

Futures data and trading for PFG should be available in the RC release.

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Re: PFGBest - any plans to add futures trading with this bro

Postby Tresor » 04 Jul 2011

This is a very good news. Thank you.

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Re: PFGBest - any plans to add futures trading with this bro

Postby khalaad » 06 Jul 2011

This is a very good news.

Caveat emptor.

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Re: PFGBest - any plans to add futures trading with this bro

Postby Tresor » 06 Jul 2011

khalaad wrote:Caveat emptor.


Could you elaborate? From what I noticed I get on average 3 to 5 sec latency in order fill. Once I waited two minutes to get filled.

Anything else?

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Re: PFGBest - any plans to add futures trading with this bro

Postby khalaad » 06 Jul 2011

Latency should not be a problem. From where I am PFG has on average 300ms delay; but even such can be taken care off with some creative order placements.

Anyway, honest latency should return positive slippage a significant number of times.

Here is what bothers me most: the not-fully-disclosed-upfront hidden costs of trading which suddenly show up in live account statements. Over the years I have found this more so with outfits which employ sales brokers; who have to be paid somehow, and the money has to come from somewhere!

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Re: PFGBest - any plans to add futures trading with this bro

Postby Tresor » 07 Jul 2011

Thanks.

I do not have a complete picture of them yet. I like the spreads on some pairs. In some cases better than Dukascopy.

1. What I noticed is that there are several websites with PFG logo:
http://www.pfgbest.com/ - claimed to be the headquarters
http://www.pfgwest.com/ - probably an IB to PFG
http://www.pfgbestdirect.net/ - probably an IB to PFG
each with different registrant. This business seems to have a complex structure at first glance.

2. Volume built on tick count and volume built on traded volume seem to be 99% the same in terms of histogram shape (not value). Not sure what to think of it yet, but will investigate.

3. Their data on exotics gets corrupted heavily from time to time.

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Re: PFGBest - any plans to add futures trading with this bro

Postby JoshM » 07 Jul 2011

khalaad wrote:[..]
Anyway, honest latency should return positive slippage a significant number of times.
[..]

Can you elaborate on this? I'm not following what you mean with 'honest' latency, and why this 'should' return positive slippage. :)

Tresor wrote:I do not have a complete picture of them yet. I like the spreads on some pairs. In some cases better than Dukascopy.
[..]

Keep us posted (if you'd like). :)

Regards,
Josh

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Re: PFGBest - any plans to add futures trading with this bro

Postby khalaad » 07 Jul 2011

Can you elaborate on this? I'm not following what you mean with 'honest' latency, and why this 'should' return positive slippage

If there are 3-5 ticks between the order click and the fill at a broker pinging 300ms, I would think this as 'honest' latency. However, if there are 3-5 ticks between the order click and the fill at a broker pinging 100ms, I would suspect something is not quite right. 'Honest' latency at times returns positive slippage because all the ticks between the click and excution are generated by market forces and are not filtered.

I may be compeletely wrong here; but this is my experience trading Forex since 2003. My main Forex accounts are with OANDA, which pings 100ms. OANDA fxTrade has 1 tick delay between click and execution, OANDA MT4 3-5 ticks; I get positive slippage on OANDA MT4 at least half the time I trade. There was a time I traded Forex with another big-name 'broker' with 3-5 ticks delay; only got positive slippage less than 10 time in over 200 trades.
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Re: PFGBest - any plans to add futures trading with this bro

Postby JoshM » 07 Jul 2011

khalaad wrote:
Can you elaborate on this? I'm not following what you mean with 'honest' latency, and why this 'should' return positive slippage

If there are 3-5 ticks between the order click and the fill at a broker pinging 300ms, I would think this as 'honest' latency. However, if there are 3-5 ticks between the order click and the fill at a broker pinging 100ms, I would suspect something is not quite right. 'Honest' latency at times returns positive slippage because all the ticks between the click and excution are generated by market forces and are not filtered.

I may be compeletely wrong here; but this is my experience trading Forex since 2003. My main Forex accounts are with OANDA, which pings 100ms. OANDA fxTrade has 1 tick delay between click and execution, OANDA MT4 3-5 ticks; I get positive slippage on OANDA MT4 at least half the time I trade. There was a time I traded Forex with another big-name 'broker' with 3-5 ticks delay; only got positive slippage less than 10 time in over 200 trades.

Ah I see Khalaad, thanks! :) You use the latency combined with the experienced slippage to determine if your orders are good / 'honestly' filled.

I don't understand your example though. If both fxTrade and OANDA MT4 have a 100ms latency, and you experience 1 tick slippage and 3-5 ticks slippage in these respectively, I would say that OANDA MT is not 'honest', and that the chances of experiencing positive slippage are greatest with fxTrade.
In other words, if the average slippage with fxTrade is 1 tick, you'd have a better chance to get filled at no slippage or positive slippage than with OANDA MT since the average slippage is there 3-5 ticks. In those 100ms after submitting the order the price has to move at least 3 ticks to experience no slippage with OANDA MT, while a similar move with fxTrade would have resulted in a positive slippage of 2 points.

Regards,
Josh

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Re: PFGBest - any plans to add futures trading with this bro

Postby khalaad » 07 Jul 2011

Josh,

Ticks between the click and the fill do not necessarily mean negative slippage. In my opinion if the ticks are not filtered, any delay will result in positive slippage significant number of times. However, if the ticks are filtered, one is likely to get negative slippage overwhelming number of times.

The greater the number of ticks between the click and the fill, the greater the (positive or negative) slippage is likely to be.

At least this is my experience trading with a variety of brokers and bucket shops. Retail Forex is the ultimate OTC.

Where integrity is concerned I have found OANDA beyond reproach. I am cognisant of the fact they are running a business for profit, trade against the account holder, and no customer will be completely happy with them; OANDA 2010 was better than OANDA 2011. They maintain the problem is liquidity available to them. I hope so.

I just think no broker, OANDA included, is worthy of bending over backwards for. Because entries, and to some extent exits as well, are not what make money. Yes, one must be careful with these things; but position sizing, risk control, money management are way more important.
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