I had an account with Alpari Uk for around 3 Months. I've been trading for around 5 years, so I'd like to think I know what I'm doing.
Alpari has very good spreads, not the lowest out there but very competitive. EUR/USD was 1.6 pips around 80% of the time.
I recently closed my account after a trade that proved to me that aplari is using the Virtual Dealer Plug-in for MT4. I haven't complained to them about the trade as I see no point, it wasn't a terrible loss. I just want others to know of my suspicions.
The trade I opened was around news time, I happened to click on the wrong order, buy instead of a sell, happens rarely but it does, and I accept this to be my mistake.
However what happened to my order was what botheres me. My order was held for around 10-15 seconds, after the price had moved against me I was executed at the price I clicked. You'd think this is great, they give good fills, well I'm telling you it's only on orders that you will make a loss on. As soon as I realized I clicked the wrong price I tried to open an order in the opposite direction hoping I would instantly hedge the position. I was only executed on the losing order and the opposite order had been re-quoted.
Having read about what the virtual dealer plug-in is capable of doing, this exactly fits the description. The plug-in delays your order and checks against the real market price, if the price has moved against you it executes you, if not it re-quotes you.
This could happen for any trade depending on how they have it set-up.
Now a company won't publicly admit to using the plug in so no point in asking, we're simply left with our suspicion.
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Alpari UK Account Info:
minimum deposit: $200
minimum lot size: 1k
max leverage: 500:1
Spread:
Variable, from 1.6 pip
Deposit/Withdraw
Bank Wire, Credit card, Cheque
Platform:
Metatrader, Custom trading platform, Currenex, Mirror Trader
Signal Providers:
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