Hello,
I had been recently testing the new NO DEALING DESK option with FXCM (Forex Capital Markets) as they advertised rapid execution even during news releases ie. macroeconomic reports. I wanted to test it on Non-Farm-Payrolls (November the 3rd, 2006) and found following:
1. FXCM filled me on my resting order even before the price in the streaming prices window displayed the price (rate) I wanted to have.
2. The stop/loss was not executed I had to manually exit the trade.
3. FXCM filled me on the highest ask priced noted on this day. (17 pips slippage)
4. FXCM executed the trade whole minute and displayed it after the market went down ca. 100 pips. I was unable to change the parameters of the order during that time.
Would you like to see it ? I had even recorded it live:
http://www.fx-analytics.com/videos/u.../untitled.html
Please send the link to all your friends before they fall victim of FXCM.