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Thread: Sniping on Broker

  1. #1

    Sniping on Broker

    Hi Guys. Here is my first Post here. Until I ask my maybe relative easy question, but I can not find the perfect effect on the hunt I try before.

    I must mention that cliqforex is a really a fantastic Source to become a good Trader, If you've got the Time to research, learn, learn and research ...

    I hope iam on the right way to become one of them, and I belive thatcliqforexcan help me to convince me.

    So Thnx for all of you Share your Knowlage and Trading System's together with the Rookies such as me!

    Thank You!

    Now for my Issue:
    My Broker tells me, which I can not Trade GBP/CAD and EUR/CAD on the Meta Trader Plattform becouse there are to many Snipers that they used the Fixed Spread on those Pairs, so the Broker disabled it to the MT Platform.

    Can you explain me, what they mean with Sniper in relation to the fixed Spread?

    Thnx, Michael

  2. #2
    Now this is the strangest thing I've ever read with regard to Brokers. Who's your Broker?

    Any Broker that won't trade these common pairs won't be in business long term. I strongly suggest you find a Broker which is commonly cited with favorable reviews on this forum.

  3. #3

  4. #4
    No the Broker is ODL.

    And you are able to exchange GBP/CAD and CAD/USD for this Broker, but you need to use another Platforms the broker offers.

    With MT4, you Can't Live commerce this Pairs. If you exchange Demo, you can exchange.

    But can you tell me what they mean together with sniping the fixed Spread?

    Thank You

  5. #5
    Wow, can someone confirm this? I am currently demoing and have been considering having an account with them.

  6. #6
    ODL are not talking about Gbp/Usd or even Usd/Cad or any other G4/G7 currencies, they're referring to more exotic less liquid pairs which MT4 sometimes experiences delays in updating quotes. Platform arbitrageurs were obviously benefiting from this latency and ODL put a stop to it, they're not a charity

    Nothing to concern anyone who deals the majors, even though I have never exchanged with ODL so I don't understand how they perform.

  7. #7
    Plonk my Self !

    That I make a misstake using the Pairs !

    Sorry the affected pairs are GBP/CAD and EUR/CAD. Perhaps not the Cable!!!!

    Mybe I have to read my Posting second time more frequently before I hit submit.

    But my question about Sniping the Fixed Spread remains alive.

    Sorry Again!

  8. #8
    Quote Originally Posted by ;
    Plonk my ego !

    That I make a misstake using the Pairs !

    Sorry the affected pairs are GBP/CAD and EUR/CAD. Not the Cable!!!!

    Mybe I have to read my Posting next time more often before I hit submit.

    But my query about Sniping the Fixed Spread remains living.

    Sorry Again!
    No issue, but I bet you have a few people concerned

    By sniping the fixed spread I'm guessing they imply volatile times like across data when MT4 endures latency on pairs such as Eur/Cad. So state Eur/Cad was quoted on MT4 at 1.5840/45 but the real market price was 50/60, it'd be a fast guaranteed 5 pips to buy at 45 and then milliseconds later when MT4 ches up sell at 50. I expect it is a bit more complex than that as these 'snipers' likely look at Eur/Usd and Usd/Cad at precisely the same time.

    Like I say this was a guess, I would be interested to know what others believe.

  9. #9
    These pairs are not actually exotics

    Most MT4 brokers offer them and permit you to trade live. See IBFX for example.

  10. #10
    Quote Originally Posted by ;
    Those pairs aren't really exotics

    Many MT4 brokers provide them and allow you to exchange live. Watch IBFX for instance.
    IBFX have a changeable spread though don't they, in fact I am not even sure whether ODL have variable or fixed spreads, by stating 'snipe mended spreads' it suggests they're fixed.

    I guess the only way to receive a definitive answer would be to phone ODL and ask, or utilize another marketmaker. ODL clearly had a issue with those pairs on MT4, it might be interesting to learn what it was.

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