DeltaStock
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Overall
Very slow order execution in mt4
Overall
Hi Dale
Please read the comment from the link below for that broker. I am a little bit confused althugh you have written a very detailed explanation for why one can trust in them.
http://www.forexbrokerguide.com/deltastock-ad
Thanks for your details
Cuneyt
Overall
Hi (whoever reads this).
I thought that instead of just 'voting' I'd 'put my money where my mouth is' and give reasons for my 'vote'.
Let me make you aware, though, that I've (for the most part) just 'cut and paste' this review (of mine but as originally made on another site) i.e. there's no point in my re-typing the whole thing here because nothing has changed and I 'stand by' everything that I said in my original review.
First let me make this clear:
I've been trading with Deltastock for a least four, going on five, years now. I am an IB for them NOW but that's only a very recent arrangement. The reason I'm making this clear is because I want whoever reads this post to know that I speak from a TRADER'S point of view and NOT as an IB.
I thank Deltastock for simply being Deltastock. I traded with one or two (possibly three?) other brokers before I came across Deltastock and I can tell you that had I not come across Deltastock when I did I would have given up on this business of trading a long time ago because if this business of trading operated the way that I was led to believe that it did by my first few brokers (especially the first) then I would have given up in thinking that the business of trading was nothing short of 'the scam of the century'. If anybody reading this post has any experience trading live then I'm sure that most of you will know what I'm talking about. Here's a short list for you:
• Orders being slipped by way more than could be deemed reasonable or normal or market related (yes: slippage is normal which many people don't seem to or want to understand).
• Not being able to close out profitable positions (until they'd turned to losses or at very least until the profit had been reduced considerably because and the broker having some or the other lame excuse for not being able to execute the order for the last five minutes. In this regard my first broker holds a record I'm sure i.e. I remember a stop order to close out a profitable position pending for twenty minutes while I sat back and watched my profit turn into a nice loss at which time, of course, it was executed). Alternatively being requoted and requoted and requoted time and time again until you either gave up on trying to get out of or into a trade.
• Being able to get hold of customer service (on a good day) but as soon as they either couldn't or wouldn't answer your query you'd get disconnected from the chat feature.
• Stop orders being executed when price was nowhere near the stop order price and being told that it was price spike or data error or that the spread had widened. What always amused me about this one is the fact that it never showed up on their own charts!
• Limit orders simply being skipped over or not executed or simply vanishing especially if they would have resulted in your now being in a profitable position.
• The trading platform freezing for no apparent reason always when you have open profitable positions and are trying to close them out. I was once even told by my first broker that they were doing a software upgrade this right in the middle of the New York trading day! That was the excuse given anyway. How true it was I'll never know.
• Withdrawing funds which of course were immediately taken from your account but having to wait weeks for the money to appear in your account and this after having to send a few e-mails in the interim which if you were lucky were answered with some or the other lame excuse for your money not having appeared yet in your bank account or credit card.
The list goes on and on and on. I've just listed a few of my 'personal favourites' is all.
And then we come to Deltastock (thank goodness).
• In all my years of trading with Deltastock I think I've been requoted maybe five maybe six times. Do note however that I am a long-term trend trader. In a very volatile market you will probably be requoted more often by any broker if trading trading the news or scalping so just bear this in mind new traders. I've experienced slippage too but normal slippage e.g. a stop order placed at the close on a Friday and price gaps up on the Sunday. That's normal slippage and there's nothing that the broker can do about that simply because by the time of the open your price is simply not available anymore.
• Limit orders have always been executed at my exact price or better. For those that don't know limit orders can be slipped too but only in your favour and is known as 'positive slippage' which believe it or not does exist at an honest and reliable broker such as Deltastock.
• Market orders are executed almost instantly under normal market conditions.
• I have never not been able to access the trading platform during normal trading hours under any market conditions whatsoever. There have been one or two (or three) software upgrades in the past few years and they moved to brand new offices not too long ago. The upgrades, as well as the move, were done over weekends and, of course, it was on these few occasions where I could not access the platform over the weekend. In every case I was informed by e-mail (and once by phone because I was having an e-mail problem at the time) well in advance that such upgrades, and the move, were to take place. Not a single minute of trading time was lost due to these software upgrades or the move. That tells me that everything they do is well thought out and planned beforehand and that they do indeed have their traders' interests and their good name at heart.
• I don't think I've ever waited longer than two or three hours for their customer service department to return a call or answer an e-mail (this before they had their llive chat feature set up) for a general query. For something urgent their response has always been immediate. Moreover: I can contact the dealing desk instantly via a feature built into the trading platform.
• Data errors and bad ticks have ocurred from time to time but again no more than maybe five or six times. This happens with any Internet based business. On one of two occasions such data errors or bad ticks have resulted in a stop order being erroneously executed. Their trading platform send me text message when orders are executed and on both of these occasions they have corrected and reinstated my position between the time of my receiving the text message and sitting down at my desk and logging in to the trading platform to see what's happened and this without me even having to contact them to make them aware of the problem. I challenge anyone reading this to give me details of any other broker that operates as efficiently as this.
• They have offices in many countries all of which are regulated by the regulatory body of that country e.g the FSA in the case of the UK Office and not to mention that fact that they are an MiFID regulated broker (Google MiFID for more information and how it protects and benefits you as a trader. In this regard the EU in my opinion was ahead of the SEC i.e. only as recent as last year have the NFA and CFTC started enforcing regulations that have been the norm throughout the EU since 1997 or 1998).
• Their proprietary trading platform Delta Trading is, to me, one of the finest (and I've looked at many). While it is true that it takes a bit of getting used to at first because of all of the features it's one of those trading platforms that after a while you ask yourself how you ever traded without a trading platform such as Delta Trading. Of course and as they have noted above they also offer MetaTrader 4 for FOREX trading (only FOREX trading at this time). There's no way to compare Delta Trading to MetaTrader 4 though i.e. Delta Trading is simply in a different league from MetaTrader 4 but MetaTrader 4 is popular as I'm sure you'll know.
• I don't think that I've ever waiting longer than three days for funds that I've withdrawn to appear in my bank account (the record so far is two days and remember that I'm in South Africa and they're in Bulgaria so that's pretty darn good and in this country, depending on which banks are involved, a local Internet banking transaction can take just as long)! Credit card withdrawals take slightly longer (maybe four days) but I know from experience that this is through no fault of Deltastock's i.e. MasterCard and VISA have a strange habit of holding on to funds longer than is necessary (I wonder why)! Of course: MoneyBookers withdrawals are instant but then you wait for MoneyBookers to process the transaction of course and sometimes they too are not as fast as they could be. In case you're wondering I've tested all the above methods just for interest sake. Bank wire transfers are the best method if you are able and each office has their own bank account so if you live in the UK for example you deposit your funds into their UK bank account. That type of thing.
Alright. This list too could go on and on but I'm sure you get the picture. You will not find a better broker in my opinion. They may not be the only honest and reliable broker in the world but they certainly are one of only a select few.
Regards,
Dale Paterson.
