Admiral Markets improvement campaign

[SalviaLover]

I am a client of Admiral Markets who lost at least some of his investment because of the crappy quotes. They do have their advantages. However, I am noticing some bad things about them I want to share.

I trade in a Live Trading Room, where traders use various brokers. What I noticed that most traders there are profitable, but I am not because of the crappy quotes. Admiral's quotes are often not in sync with other brokers especially with the cross pairs. I often get stopped out before everyone else, sometimes my felow traders don't get stopped out at all and I do. This is a sign of stop hunting.

Also I get unacceptable slippage with Admiral Markets. Today I got 39 pips slippage, that is I got stopped out at a 39 pips higher price than what I placed in my stoploss. And this is not the first time this happens to me. All my fellow traders got maximum 6 pips slippage as it was a news trade and had some volatility. I got stopped or 39 pips more than I intended and I don't find this normal.

So I decided to make this poll in order to show Admiral Markets their clients want them to do better. So if you are a client of Admiral Markets and want them to know you insist they fix their crappy quotes and improve their service, please take this poll.

I also made a group on facebook. I do believe that if we show Admiral what their clients want they will try to change or lose their clents. So if you want join my group on Facebook:
http://www.facebook.com/pages/Admiral-Markets-should-improve-their-service/214766358537988

[Admin]

I am a client of Admiral Markets who lost at least some of his investment because of the crappy quotes. They do have their advantages. However, I am noticing some bad things about them I want to share.

I trade in a Live Trading Room, where traders use various brokers. What I noticed that most traders there are profitable, but I am not because of the crappy quotes. Admiral's quotes are often not in sync with other brokers especially with the cross pairs. I often get stopped out before everyone else, sometimes my felow traders don't get stopped out at all and I do. This is a sign of stop hunting.

Also I get unacceptable slippage with Admiral Markets. Today I got 39 pips slippage, that is I got stopped out at a 39 pips higher price than what I placed in my stoploss. And this is not the first time this happens to me. All my fellow traders got maximum 6 pips slippage as it was a news trade and had some volatility. I got stopped or 39 pips more than I intended and I don't find this normal.

So I decided to make this poll in order to show Admiral Markets their clients want them to do better. So if you are a client of Admiral Markets and want them to know you insist they fix their crappy quotes and improve their service, please take this poll.

I also made a group on facebook. I do believe that if we show Admiral what their clients want they will try to change or lose their clents. So if you want join my group on Facebook:
http://www.facebook.com/pages/Admiral-Markets-should-improve-their-service/214766358537988
Dear Client,

Please note that all prices indicated in pending orders are only 'hypothetical' and that sometimes market is very fast so there may be no liquidity at the specified level (especially during major news releases).

Also please note that maximum values of our spreads on standard accounts are limited to rather tight values and not being increased during news (and it's beneficial for traders: http://www.admiralmarkets.com/trader/cspecs/), while other brokers may widen spreads 5-10 times and even more during fast market movements.

Moreover, the two-spread-difference rule described below is intended to decrease the possibility of slippage even in those cases when small price gaps happened on the market. However, if gaps are wider - slippage really may occur. Trading news is a very risky strategy, as concerned by most traders.

Let me quote the related paragraph of Admiral Markets Terms for Provision of Forex Trading Services:

AM reserves the right but not the obligation to execute types of Orders such as Sell Stop, Buy Stop or Stop Loss at the price less beneficial for the Client, and/or remove the types of Orders such as Sell Stop or Buy Stop from the list of active Order of the Client in the following cases:

6.14.2.1. there is a price gap or large price movement between the current market price quoted by the Server at the moment the Order reaches the queue for processing and the price of an instrument quoted by a Server not more than 90 seconds before the Order reaches the queue for processing; or when there is a price differences between any two Quotes during this specific time resulting in a 2 spread difference between the current market price and the price set in the Order;

6.14.2.2. the Order reaches the queue for processing at the start of a trading session and there is a Price Gap or a large price movement between the first Quote of a current trading session and the last Quote of a previous trading session resulting in a 2 spread difference between the current market price and the price set in the Order;

6.14.2.3. market conditions at the moment the Order reaches the queue for processing differ from normal market conditions or were different from normal market condition during past 90 seconds resulting in a 2 spread difference between the current market price and the price set in the Order. In this case the “the price less beneficial for the Client” is considered to be the first Quote after the Price Gap or a large price movement or a first Quote that is accessible to the Dealer at the moment the Order reaches the queue for processing during market conditions not considered to be as normal;

http://www.forextrade.ee/downloads/report_ee/eng/Terms%20for%20Provision%20of%20Forex%20Trading%20Services%20and%20Use%20of%20MetaTrader%204%20AM%20Trading%20Platform.pdf

[SalviaLover]

Dear Client,

Please note that all prices indicated in pending orders are only 'hypothetical' and that sometimes market is very fast so there may be no liquidity at the specified level (especially during major news releases).

Also please note that maximum values of our spreads on standard accounts are limited to rather tight values and not being increased during news (and it's beneficial for traders: http://www.admiralmarkets.com/trader/cspecs/), while other brokers may widen spreads 5-10 times and even more during fast market movements.

Moreover, the two-spread-difference rule described below is intended to decrease the possibility of slippage even in those cases when small price gaps happened on the market. However, if gaps are wider - slippage really may occur. Trading news is a very risky strategy, as concerned by most traders.

Let me quote the related paragraph of Admiral Markets Terms for Provision of Forex Trading Services:

AM reserves the right but not the obligation to execute types of Orders such as Sell Stop, Buy Stop or Stop Loss at the price less beneficial for the Client, and/or remove the types of Orders such as Sell Stop or Buy Stop from the list of active Order of the Client in the following cases:

6.14.2.1. there is a price gap or large price movement between the current market price quoted by the Server at the moment the Order reaches the queue for processing and the price of an instrument quoted by a Server not more than 90 seconds before the Order reaches the queue for processing; or when there is a price differences between any two Quotes during this specific time resulting in a 2 spread difference between the current market price and the price set in the Order;

6.14.2.2. the Order reaches the queue for processing at the start of a trading session and there is a Price Gap or a large price movement between the first Quote of a current trading session and the last Quote of a previous trading session resulting in a 2 spread difference between the current market price and the price set in the Order;

6.14.2.3. market conditions at the moment the Order reaches the queue for processing differ from normal market conditions or were different from normal market condition during past 90 seconds resulting in a 2 spread difference between the current market price and the price set in the Order. In this case the “the price less beneficial for the Client” is considered to be the first Quote after the Price Gap or a large price movement or a first Quote that is accessible to the Dealer at the moment the Order reaches the queue for processing during market conditions not considered to be as normal;

http://www.forextrade.ee/downloads/report_ee/eng/Terms%20for%20Provision%20of%20Forex%20Trading%20Services%20and%20Use%20of%20MetaTrader%204%20AM%20Trading%20Platform.pdf

Dear Admin,
I perfectly know that and am just saying that no one else has such big gaps as Admiral Markets and that this thing with gaps is only valid with stoplosses and never takeprofits, which leads to tthe idea that it is designed to take away people's money. No other broker has such big gaps during news. My firends never get so much slippage and their quotes are often different from mine.
So I just wanted to see whether other clients think Admiral should do something to improve these crappy quotes. I do not know a single trader using another broker to have such huge gaps as you do. Me and my friends find this unaccpetable and are thinking that I should change my broker. Just wanted to see what other clients are thinking. Jowever, it seems they are afraid to vote.

[SalviaLover]

Come on people, why are viewing and not answering the poll. If you want I can add more answers to the poll.

[SalviaLover]

This time the ***ness of Admiral Markets outreached its limits. Luckily I changed my broker, but I left some money in my old Admiral Account in order to backtest the ***ness. I suggest you all do the same. I entered before the news a pending sell stop on gu at 1.6300. Stop was 8 pips, takeprofit was 20 pips.

So as usual slippage was awful. The order in my other broker (***) was filled at 97 and closed at 80. Next tick on Admiral Markets was 1.6388, the ***sh quotes I was talking about. However, this time the brokers decided not to fill my order. They cancelled it because of gap. I should have made 8 pips from this trade. As Admiral Markets are a ***, they have the right to not fill your order when they have the potential to make money. Funny, isn't it?

So as I see you are still fine with giving money these ***. HOWEVER, I ADVICE ALL TO READ THE RULES AS THEY ARE MADE IN A WAY THAT YOU WILL NOT MAKE ANY MONEY. IF YOU ARE PROFITABLE WITH ADMIRAL MARKETS THIS WOULD MEAN THAT YOU WILL MAKE EVEN MORE MONEY WITH ANY OTHER BROKER THAT'S NOT A ***.

[Admin]

This time the ***ness of Admiral Markets outreached its limits. Luckily I changed my broker, but I left some money in my old ***ty Admiral Account in order to backtest the ***ness. I suggest you all do the same. I entered before the news a pending sell stop on gu at 1.6300. Stop was 8 pips, takeprofit was 20 pips.

So as usual slippage was awful. The order in my other broker (***) was filled at 97 and closed at 80. Next tick on Admiral Markets was 1.6388, the ***sh quotes I was talking about. However, this time the brokers decided not to fill my order. They cancelled it because of gap. I should have made 8 pips from this trade. As Admiral Markets are a ***, they have the right to not fill your order when they have the potential to make money. Funny, isn't it?

So as I see you are still fine with giving money these ***. HOWEVER, I ADVICE ALL TO READ THE RULES AS THEY ARE MADE IN A WAY THAT YOU WILL NOT MAKE ANY MONEY. IF YOU ARE PROFITABLE WITH ADMIRAL MARKETS THIS WOULD MEAN THAT YOU WILL MAKE EVEN MORE MONEY WITH ANY OTHER BROKER THAT'S NOT A ***.
Dear Client,

All the information concerning news trading conditions in our company have been provided to you in this forum thread and the related paragraphs of Admiral Markets Terms for Provision of Forex Trading Services have been quoted above.

Taking into consideration all the information provided to you, you have decided to continue trading on news and by doing so you have accepted all the possible risks again. Trading on major news releases, when quick wide market movements and price gaps may occur, is a very risky strategy and always will be. Your orders on news trading periods have been processed in accordance with Client Agreement and terms of trading.

PS: Inappropriate language, false accusations and advertising has been removed from your forum message. Please keep the discussion in cultured way and don't try to accuse the company in those cases, when you had been fully informed about our news trading conditions and accepted our terms of trading. We haven't broken any obligations to you and we have informed you about all possible risks, while all you orders were processed according to clear execution conditions mentioned above.

[SalviaLover]

Dear Admin,
I am just discussing the sillyness of the rules, so that your clients know what I think. We have freedom of speech so I find it suitable to express my opinion. This way your other clients would know what they are accepting as to be honest this text is too large to be able to see all the traps Admiral Markets has set in their rules so that they could take their clients'money. I am not accusing anyone on anything. And I didn't intend to to advertise my current broker, for which I am sorry. All broker have their own sets of rules, but I am currently left with the impression that Admiral's are the worst and am sharing this with my fellow traders.

I'll be reviewing the rules for more traps, designed to take away the money of Admiral's clients. And will keep this thread updated. If anyone else knows other such traps, they can post here.

[Admin]

Dear Client,

Your new message with inappropriate language and false accusations have been removed. Please keep the discussion in cultured way. We haven't broken any obligations to you and we have informed you about all possible risks, while all you orders were processed according to clear execution conditions mentioned above. We understand that you may not like our news trading conditions and that they may not be suitable for your short-time news trading strategy, but you have been informed about this several times and fully accepted the possible risks.

[SalviaLover]

So for now we have the following traps in the rules:

1. As the quotes are made in a way so that they have huge gaps, cosing the trades at the next available priceafter the stoploss increases the losses of Admiral Clients. And this is not an accusation as support told me they have filters that are designed to filter out bad or false quotes during news and keep the "good" ones.
2. Deleting stop orders during gaps while simultaneously keeping the limit orders reduces the overall number of profitable trades as during gap events stop orders have large potential to win, while limit order have large potential to lose. This is so, because those gaps express the need of the market to reassess the current economic situation.

I don't find anything not cultured in the statement above. I do not accuse Admiral Markets about anything. And I do not take this personally. I just wan't to discuss the trading terms with some fellow traders that are clients of Admiral Markets. This is my right as a client and a person that has freedom of speech.

[SalviaLover]

Oh there is something else that just crossed in my mind. When you ask support about this stoploss issue, they tell you that this same rule applies with profit targets as well, so in theory you xan also earn more than intended as well as lose more than intended. Tis is totally not true and here is te proof about it.


This trade was opened as part of another trading strategy, wich uses three seperate position with three different profit targets (20-40-60; one was closed at breakeven to reduce te risk). I expected te trade to be done before the big news (interest rate decision), but as it didn't I decided to keep the trade into news. The interest rate came actually lower than expected producing a massive spike. However, as you can see bot orders were closed at the exact price in the order. I find it extremely unlikely that tere were ticks during at 75 and 55 during that time, especially if you consider the fact that both trades were showing 50+ profit on my platform prior to appearing in history closed as shown.

[SalviaLover]

Just got stopped out on a gu trade whereas on my other broker I didn't get any spike down. None of my trading buddies (all using decent brokers) didn't get stopped out. Funny isn't it. This spike down is only with Admiral Markets and not any other broker.

[Admin]

Just got stopped out on a gu trade whereas on my other broker I didn't get any spike down. None of my trading buddies (all using decent brokers) didn't get stopped out. Funny isn't it. This spike down is only with Admiral Markets and not any other broker.
Dear Client,

We don't see any stop-outs today on your account ***049

Stop-out results into closing all opened positions when margin level drops below 30% and the free margin needed to maintain opened positions is becoming insufficient (i.e. stop-out occurs when there are not enough free funds on the account). There are no such situations on your account today.

You are providing absolutely misleading information. We don't know why you doing this but we would like to warn you that any new message with such king of misleading information or false accusations will result into permanent ban for your forum profile.

Please specify, about what spike you are talking (including the exact time and currency pair)? And why are you talking about stop-out when there are no stop-outs on your account today?

[SalviaLover]

Well I meant the trade reached my stoploss. Nevertheless later the same trade on the other account as well as on my friends 'acounts got stopped out (reached stoploss). However, there was 10 pip discrepancy between Admiral's quotes and all other broker's quotes. As I know what you will say, I tell you in advance: I know Admiral Markets are the source of quotes on and by placing a trade I agree that your quotes are supreme. I completely agree with this. I'm just pointing out the discrepancy I noticed. May post charts later but currently have work to do.

P.S. By discrepancy I mean difference in quotes during the same time on different brokers. GU was going down while everywhere else it was going up.

[Admin]

Well I meant the trade reached my stoploss. Nevertheless later the same trade on the other account as well as on my friends 'acounts got stopped out (reached stoploss). However, there was 10 pip discrepancy between Admiral's quotes and all other broker's quotes. As I know what you will say, I tell you in advance: I know Admiral Markets are the source of quotes on and by placing a trade I agree that your quotes are supreme. I completely agree with this. I'm just pointing out the discrepancy I noticed. May post charts later but currently have work to do.

P.S. By discrepancy I mean difference in quotes during the same time on different brokers. GU was going down while everywhere else it was going up.
Dear Client,

In order to check your information, we need the exact time and currency pair when, according to you, there was a 10 pips difference. Please provide the time/pair and we will check.

[SalviaLover]

gbpusd, 13-04-2011, around 11:30, my buddies got their stoplosses hit half an hour after mine. I can't quote the names of their brokers as you will say I am advertising and delete my post.

[Admin]

gbpusd, 13-04-2011, around 11:30, my buddies got their stoplosses hit half an hour after mine. I can't quote the names of their brokers as you will say I am advertising and delete my post.
Dear Client,

Please specify, to what time zone corresponds "11:30" in your message? On 13-04-2011 there are no positions on your account closed around 11:30 London time (it's our MetaTrader time).

What are the order numbers that have reached stop loss on your account at that moment of time?