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Saturday, 14 February 2009
Written by Jasmine from Serbia
I had/ have real accounts with 11 brokers in 6 years and this one is the 12th. I funded small amount to test DeltaStock performances and results are: Good things: - They are regulated, public company; - Good customer support (immediate answers); - 200 and 100:1 leverage; - Never freezing platform; - Fixed spreads (even at news) and Level 2 option; - Fast execution on L2; - Funding and withdrawals by Credit/Debit cards; Bad things: - You can’t close positions partially on L2: With every lot (enter or close) you just change average entry. You have 2 choices: Close the whole position and open new one and you’ll loose on spread and commission again – That’s DeltaStock intention to grab more money from trader OR leave open position and risk the market will go against you, so you know the rest… to close winning trade at BE or with loss even. - They are not ECN: DeltaStock is making money trading against you. The same as all MT4 brokers for now. - Yes, fixed spread BUT with slow executions and a lot of requotes. Impossible to trade news. - Yes, some kind of Level 2 but with huge slippage on every trade, entry and close! I trade EY and GY, I made 511 trades in past week, and I experienced an average slippage of 2 pips on 2 of 3 orders!!! I experienced even 61 pips slippage at non volatility time, Feb 13, at 09:09:50 GMT. On my complaint they answered it’s normal with L2 trading. In other words, their L2 option is with dealing desk still and they can close your position at any price they want. Yes, they have a ‘Limit’ option not just ‘Market’ but it’s useless: You need to fill in limit price, amount (lots) and click for execution: 10 seconds which is more than enough to miss right entry or close. If they thought to be serious with L2 they would have a preset (like few other brokers) where you can set slippage as a default for example 2 pips away from current price – so trader still can make trade with one click but with ‘Limit’ order. - Commission on L2 for small accounts is 0.005%. You think that’s nothing? That was exactly 11% of all my profit I made and I made 90% on deposit. Think again about 0.005% or 0.003% for trades over 10k. Of course, depend how big your trades in pips are and how successful trader you are. STILL, YOU CAN PROFIT WITH THIS BROKER FOR NOW. BECAUSE OF FAST EXECUTION ON L2 MAINLY. AND THERE IS NO NEGATIVE REPORTS ABOUT WITHDRAWALS, I DIDN’T TRY YET. I will trade more with them and I’ll inform you of any improvements or …