Results 1 to 4 of 4
 0 Attachment(s)    

Thread: TheCollectiveFX

  1. #1
    Junior Member
    Join Date
    Jul 2009
    Posts
    3

    Thumbs down TheCollectiveFX

    Just wanted to give everybody heads up on the Collective! Even though they closed their membership to new members, I have had a demo acct for a couple of weeks. My EA was doing great on their "low spreads", but last night as the market opened up, I noticed my account spiralling downward as my trades were being taken out by mysterious spikes. I checked 4 other brokers and they had normal prices (no spikes at all), with about a 30+ pip difference! I emailed them and they explained it as "changing data feeds", since they were adapting their platform and feeds to a new bank. That doesn't explain a 30+ pip difference in my book. This morning, the same thing was happening to nearly every trade! I emailed them again, and they said I was not being polite. I did not use any bad language, but I did use a couple of exclamation marks for emphasis, not in any offensive way at all. They responded with "We have closed our membership. Good luck wherever you end up trading." They couldn't even explain this anomaly. If you haven't heard of this broker, you can check their website Home. Notice partway down the page: "The Collective FX will NEVER 'Stop Hunt', 'Price Spike' or 'Quote Delay'." If they aren't doing this, who is? Their bank? If so, it's still their responsibility. It's bad enough to pay their monthly fee and commissions, and then, on top of that, get spiked along the way. I know, since I have only a demo acct, that they were not targeting me personally, but I'm sure someone with a real acct and similar trades got the axe! Great job guys! Who can we trust out there anymore?

  2. #2
    Junior Member
    Join Date
    Aug 2009
    Posts
    1

    Default

    I think you're being a bit unfair in this post. I have a demo account with them and they emailed everyone all along the process of changing their Liquidity Provider. They did say there might be anomalies in the data coming through while they were in the transisition phase and they did say to email them any problems and they would sort them out. They also told everyone to go very light on trading until they had everything running smoothly.

    AFAIK they don't charge comissions, just a membership fee depending how much you trade per month. They strike me as a really good bunch and I think your criticism is a bit harsh considering everyone was kept informed during their LP swop over.

    Did you read the emails from them?

  3. #3
    Junior Member
    Join Date
    Jul 2009
    Posts
    3

    Default

    Quote Originally Posted by inathome View Post
    I think you're being a bit unfair in this post. I have a demo account with them and they emailed everyone all along the process of changing their Liquidity Provider. They did say there might be anomalies in the data coming through while they were in the transisition phase and they did say to email them any problems and they would sort them out. They also told everyone to go very light on trading until they had everything running smoothly.

    AFAIK they don't charge comissions, just a membership fee depending how much you trade per month. They strike me as a really good bunch and I think your criticism is a bit harsh considering everyone was kept informed during their LP swop over.

    Did you read the emails from them?
    I did read the emails, and they said that everything was finally running smooth, but these 30+ spikes have continued on the AUDNZD all week long. I just can't imagine that these are only anomalies. I know they don't charge commissions. I was referring to the spread, which basically is their commission. I did email them to explain these problems, but they refused to answer my questions. I guess questions on a demo account are not important enough. Hope this irons out, but for me it seems too blatent to be a bug.

  4. #4
    Member
    Join Date
    Mar 2009
    Location
    Florida, USA
    Posts
    278

    Default

    I have a live account with TheCollectiveFX and I have absolutely no clue what you are talking about. I couldn't be happier with TCFX. Were those trades on aussie-nzd from Robominer?
    Think of adversity as that tiny piece of sand that gets trapped in the oyster's shell. Although it's a pain in the oyster's arse, he eventually makes a pearl out of it.

    http://hft.serialcoder.com/ -- Quantitative Market Reversal Levels --- The only indicator you'll ever need.

Tags for this Thread

brokers, demo, home, live, live account, low, nzd, real, spread, stop, trading

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •