Most other brokers, especially the big brokers, operate a dealing desk. This means they hire professional traders who will take positions that will from time-to-time conflict with the interests of you the retail trader, for the sake of increasing their own business profits.
The bid and ask prices by a dealing-desk broker are also set by that broker. This means the prices you are seeing are NOT always true prices from bank feeds. Also, the dealing-desk broker has programmers watching your trade positions so that stop-loss orders can be targeted for takeout. What generally happens to you is having supposedly winning trades becoming losing trades.
Vincent, a trader from Singapore, shares his experience: “I placed same trade with FXPRIMUS and then another big broker, my position closed with a profit with FXPRIMUS but I lost money with the other broker as I was spiked by 2 pips by the big broker and in acutal fact the market reversed 2 pips away from my stop loss on FXPRIMUS and resulted in a profitable trade.”
Frequent re-quotes are also a common occurance with dealing-desk brokers. The price you are entering is not always the price you will get. Imagine if you pick something at a store and while you carry it to the counter, its price changes. This is exactly what happens when Forex brokers give re-quotes. While re-quotes are inevitable in extremely violatile market conditions, dealing-desk brokers commonly do re-quotes even in normal market violatility.
FXPRIMUS, being a Straight-Through Processing broker, does NOT operate a dealing desk. They also do NOT do any of the unenthical acts described above that put retail traders in a disadvantageous position. They strongly believe that in order to have sustainable long term growth as a company, they must ensure that you, the client, have a fair chance when trading with them.
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