I learned the hard way that they are crooks... first of all they are not a broker.. they are just a middle man who collects money from you to pass on your order to FXCM... you are better to just go to FXCM directly.
On September 8 the server went down for 2.5 hours and during this time they decided they would fill and reject whatever orders they felt like... they shut down their chat system so you couldn't get a hold of them and when you called them to see what was going on they would tell you to send an e-mail and they would get back by the end of the day.
Of course at the end of the day all this did was give you every excuse in the book. For the would-be profitable orders they tell you that the system was down and the order never got filled. For the losing orders that somehow got filled (while their system was supposedly down) they tell you that at that particular instant the server was up and you are now responsible for the position that is already 100 pips in the loss....
the second red flag... they already have a case against them with the NFA when they were profiting from trades against their clients....
I trade live with ATC since May 2011 and thought it is time to put in a good word. My EAs placed more than 3000 trades by now and they all were properly executed with lowest spreads. I did some very expensive, both money and time wise, MT4 broker research at the time and found them to be the best. Since their commission is per any currency unit, not USD based, it actually makes them one of the cheapest out there. I truly believe they are the broker you can be successful with.
I have an account at ATC Brokers since about 1 year ago, and recently crossed the 2,000 trades mark. I get slippage both ways, and fills are better than my MB Trading account, which I prefer when I want to trade microlots, like when testing out new EAs.
My rating is: Platform: 10 (has features I did not find in other MT4 platforms, like the new one-click-tradng add-on, which you can configure to automatically set bracket orders; plus they are ok with hedging, since the backend reports the net orders), Pricing: 7, Customer Service: 10 (they were always prompt to address any questions or issues), Features: 8.
Yes, ATC Brokers uses FXCM backend, and I don't have a problem with that. My money transfers are with FXCM directly, so I don't know what the previous person talked about (probably he does not have a live account there).
Adding and withdrawing funds takes 1-2 days. There is problem with that, which they acknowledged and says are working to fix it. At times I had to contact the ATC support to trigger a MT4 balance update, since the FXCM backend showed funds arrived, but MT4 did not have the funds yet. But when I contacted them, they took care of that on the spot. And it happened both ways: after a recent withdrawal I have money in my bank and they still show in my MT4 account.
Overall, my final measure is profitability: I trade the same EAs in multiple brokers, and ATC has better results that all others. As a result, it's my broker of choice, whenever I trade with minilots and higher (while for microlots, I use MB Trading).
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
As RED TORPEDO mentioned they are JUST an IB to FXCM. So You should ask Yourself: why You should trade with ATC when You could trade and deal all Your money transfers with FXCM directly? You will save some headaches, believe me...
BTW, those slippage control barely work - I had an account there and was slipped a lot despite having smaller max deviation set. Their answer was: if the order was filled within 2 seconds (ages in ecn world), the fill considered legitimate despite slippage. It is in my opinion just an IB to FXCM UK with a home-made MT4 bridge to FXCM platform and it seems it is run from some shed, as you won't get support outside of Pasific time hours, any request takes at least 24 hours to reply, and in general it is pretty weird. There are better choices out there.
I'm with them since Oct 2010, and very pleased so far. I'm trading several EAs, that did about 500 trades so far. Slippage exists, but about half the times is in my favor, which would be my expectation from a true ECN broker.
Adding and withdrawing money takes at least 1 day, typically 2. I'm now exploring the option to move my IRA accounts to them, which is a great option for those living in the US.
All in all, I'm happy I found ATC Brokers, and looking to increase my funds with them.
Whether You Believe You Can, or You Can't, You Are Right! ~ Henry Ford
stongbar posted: Hello. Say me please ATC have instant executing or market? Thank you.
Instant execution. You can control slippage and place market orders along with stop and target levels. But ATC doesn't quote the prices as market makers do, they use STP to process the order via ECN to the market. Their LP is FXCM so I guess your orders get matched with 1) banks connected to FXCM liquidity pool and 2) clients of ATC, FXCM and maybe even Deutsche Bank retail (dbfx.com). But the last is my speculation only.
I'm trading live with them for a short period of time to make ultimate judgements but I have made almost 200 trades with market orders already and the execution is really awesome; I have slippage set to 1 pip (yes, one pip) and I was filled on ALL the orders almost immediately (within a second); no 'requotes' - I think they don't have requotes implemented at all. Everything ATC does seems to be focused on speed. You have to qualify before getting your real account allowed to trade; the qualification procedure includes setting the MT4 bar count (chart/history) to lower than default figures, turning of the feed for unused currency pairs, MQL compliance requirements for EAs (they don't allow for more than 1 request per second) and a speed test of your internet connection.
Have to make a correction to my former post here; the commission is ALWAYS $8 standard lot RT, regardless of currency pair.
ATC provides a leverage of 1:50 to US residents only. For non-US accounts, the leverage jumped to 1:200 recently. The $8/RT commission is not bad at all, considering that it's not per 100K USD but per 100K base currency! So the commission is less then $6/standard lot of EURUSD and less than $5/standard lot of cable atm. Round-turn. They are tied to FXCM very closely but their approach, proprietary MT4 bridge and access to liquidity (not the same as retail FXCM ECN) make it a different story. I'm not affilated to them in any way, just a very-near-future client who hopes to be satisfied. Will post my experience in a month or two.
It's unfortunate that their maximum trade leverage is dropping to 50:1 very soon.
email from ATC Brokers: On August 30th, 2010 the Commodity Futures Trading Commission (CFTC) announced the issuance of final rules regarding the regulation of off-exchange retail foreign exchange (Forex) transactions and intermediaries. The rules go into effect on October 18, 2010 and implement provisions of both the CFTC Reauthorization Act of 2008 (Farm Bill) and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).
Due to this ruling by CFTC, US clients who currently have a trading account with FXCM UK division will be transferred to FXCM US division. The trading leverage will be set to 50:1, however, all other aspects of trading will maintain the same structure.
I trade live with ATC and it's the best I have experienced in the past 6 years of my trading. The max slippage is less than 0.5 pips while other can be 5 pips or more. Fast execution, very tight spread as low as 0 pips for GBPUSD and great customer services, just can not name them all.
This broker is part of my winning strategies. Can not trade without ATC any more. I just love it.
I must be a better person first before I can be a profital trader.
pc8multifx posted: ATC states still 'coming soon' on their home page.. do u trade live with them now??
Cant believe that NFA allows one of their members such a 'work around' on the recent restrictions..😲
ATC is not the only one -- I use FXDD and FXCM and they both found a way to go around NFA restrictions some time ago, though finally they both created branches for non US clients (FXCM uses a UK branch and FXDD - a Malta branch).
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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Past performance is not indicative of future results.