JadeFX

[progressapama]

JadeFX stopped servicing all US clients due to US Financial regulations. The New US Financial regulations require that if you are a Non-US Broker you must be regulated in US by CFTC & NFA and abide by the new US Financial Regulations in order service any US Clients or residents or citizens. This affected ONLY US citizens or US residents or US Clients.

 

Well it seems some FX Traders do not follow what is sometimes going on in the FX Market closely, We are operating Normally. Keep on Trading . Thanks

Edited July 2, 2010 by progressapama

[progressapama]

Most new traders fall into what we call Broker shifting syndrome (BSS) with hope of finding a broker that will serve their strategy or needs. But the Reality is that there are very few honest brokers who can stand by their honesty and deliver what JadeFX does. We ourselves are also Autotraders who understand what it takes for a trader to make money month after month, and we make sure we offer the best and lowest available spreads to our members .

 

Here are some Honest Truths about FX Trading.

 

1. Will you Make Money in FX trading by simply buying an EA online and using it ?

 

ANS: Probably NOT unless your EA has proven itself and can withstand different Market types ( Trending, Ranging, volatility , Sudden Geo & Economic News shocks , Sometimes Global Stocks, Bonds, & Commodity correlation shocks etc ).

 

2. Will You make Money by simply moving from one broker to another with the same EA with expectation to make Money ?

 

ANS: If the Strategy is logically sound and has been tested in the real market , Then yes, otherwise NO . It does not matter what kind of broker you use . it will still wipe your account

Edited July 2, 2010 by progressapama

[progressapama]

wow... happy I closed my account a few months ago... It seems they have some major problems now. ADVISE: Guys take your money OUT and close your account. I am not sure what happens at jade but but i dont think they are in good waters now...

 

From where did you hear that they have major problems ? JadeFX does not have any problem at all . As in any Company or Broker, Decisions are made from time to time by management in order to abide by Laws and Regulations or to efficiently service their clients . That has no relevancy with any company or broker having any problem. We know that we have several guys who work for other brokers in this forums or are here to promote other brokers or their EAs , that's OK, But lying about JadeFX is a cheap shot. It is interesting from your posting that it seems you know more about JadeFX than those who actually have worked at JadeFX for over 4 years ......Strange isn't it. Rumours and Lies will not get you anywhere. If you have a question about JadeFX you simply call them or email them.

[progressapama]

Hello Mr. Progressapama,

 

Noticed I can't enter a JadeFX forum anymore from the link on the JadeFX main web page. Was forum diminished?

 

A bit weird to read postings where its not obvious that you're exact the person who established this brokerage back to 2009 and who is in best position to answer all queries of Indo-investasi good forum members in this thread.

 

I feel I now lack of so needed transparency about JADEFX brokership, to make my own judgement if I feel I want to have business with it.

Meanwhile, waiting for full operationing of Dukas MT4, as many good members here do.

 

The JadeFX forums is now for Live Members only but Guest can read and browse the forums. For all Live JadeFX members , all they need to do is to register with their official email and then send an email to support for the forum account to be activated. The Forum is moderated due to excessive Spamming. Simply go to the website www.jadefx.com

[hein123]

I wanted to joined JadeFX when they were accepting US clients. I am a non US citizen, what else have changed at Jade before the changes as I don't want to join just before they go down hill

[progressapama]

I wanted to joined JadeFX when they were accepting US clients. I am a non US citizen, what else have changed at Jade before the changes as I don't want to join just before they go down hill

 

Where have you been getting information that they are going down hill or have any problem ?. It is just total NONSENSE . JadeFX stopped servicing ONLY US Clients or US Members or US Citizens or US Residents because of the new US financial regulations. This ONLY affected our members from the US or US residents or US Citizens . JadeFX is operating normally as usual and no problem at all as some forum members have been spreading false rumours and lies.

Edited July 4, 2010 by progressapama

[hein123]

I just wanted to find out more information and was hoping to get information from this forum. thanks for the reply though

[chankl78]

I am using it. As long as u r not a US Client, I think it is good.

Deposit & withdrawal is quite fast.

I am using it.

 

Smile

Chankl78

[kennyhubbard]

progressapama,

 

I gather that you are the representative for Jade. I have a live account and so far I am pretty happy.

 

However, this evening at US market close, there was a spike where the spreads on the EURCHF hit almost 30 pips. It goes without saying that I am a tad annoyed about this. Do you have any comment on this matter? I have been trading ECN/STP brokers since they first came out and I am aware of the spread risks. Given my past experience, I am fully aware of spread widening at market close, but almost 30 pips is excessive. Am I to start believing that Jade is picking up liquidity issues?

[hitescape]

Hi Kenny!

 

Today there was a spike and Tuesday there was a 63 pip spike on the EURCHF. The EA we use is no longer profitable at Jade - it has lost $28 since July 1 yet at MBT it is up over 20% for the same period. June was a 45% winner at MBT but only earned about 20% at Jade.

 

I am not at the point to say its Jade's fault, rather, I put the fault on CitiBank UK. I see the same thing happening at Jade as what happened over at The Collective. CitiBank doesn't seem to like EAs that consistently win and they are beginning throwing a lot of trash in the quote stream.

 

I'll send you an email when things here get more settled. The recovery is difficult at times as you might imagine.

 

Pura vida,

 

Dave

[progressapama]

progressapama,

 

I gather that you are the representative for Jade. I have a live account and so far I am pretty happy.

 

However, this evening at US market close, there was a spike where the spreads on the EURCHF hit almost 30 pips. It goes without saying that I am a tad annoyed about this. Do you have any comment on this matter? I have been trading ECN/STP brokers since they first came out and I am aware of the spread risks. Given my past experience, I am fully aware of spread widening at market close, but almost 30 pips is excessive. Am I to start believing that Jade is picking up liquidity issues?

 

Hello, We saw the Spike and that is a Liquidity Spike at around 5:00 PM EST ( Usually between 4:59 to 5:01 PM EST New York Time -- During Rollover ) . You want to be carefull because we provide Pure Unfiltered Bank Streaming FX Quote Data and during that 1 to 2 Minutes when the Daily Liquidity is being rolloved over to the next trading day. If their is any big liquidity difference in that particular currency pair at that rollover time , you might experience a huge Liquidity Spike. We have mostly seen it on EURCHF, There has been extremely huge volumes of trades being pushed through starting at 5pm in the FX Banking System for some pairs e.g EURCHF . So for our JadeFX members please watch out for such liquidity spikes. Some Brokers smooth or filter the Data but at JadeFX we provide Unfiltered Streaming Data for FX trading

[hitescape]

If I understand what you are saying is that:

 

1) Jade's liquidity provider, Citibank UK, is incapable of handling the demand on the EURCHF. Their response is to throw unrealistic bid and ask prices into the price stream in an attempt to profit off of Eas that trade automatically. This is also known as Stop Hunting.

 

2) Does Citibank UK do this with each brokerage company they deal with or is it a special deal just for Jade? After all, Jade is earning a commission and swap on each transaction. The Collective did not have this problem but then they use Citibank NY. Maybe they are truly separate banks but they both benefited from the same bailout funds.

 

3) Jade has no intentions of filtering obvious frivolous price spikes. (Could this be because Jade earns a commissions from real and frivolous transactions?)

 

 

So now I challenge Jade to give honest answers to these questions:

 

1) Why doesn't Jade either filter out these stop hunting spikes or augment their Citibank UK price feed?

 

2) Is it that difficult to add a better liquidity provider that is capable handling the demand instead of profiting off of this obvious charade?

 

3) If you can't add an additional liquidity provider, why don't you take the approach of MB Trading and shut down during the time period that unreasonable quotes are being generated by the liquidity provider?

 

4) What other unethical or questionable practices does Jade partake in? After all, the most recent Terms and Conditions now state that Jade is counter party to their customers trades which is a direct contradiction with the definition of an ECN/STP broker. (For the uninformed, this means that Jade is trading against their customers just like any other dealing desk brokerage.)

 

5) Would you please explain how other STP/ECN brokers seem to sidestep these same liquidity problems that Citibank UK and Jade are unable to overcome?

 

If any of my assumptions or statements are incorrect, please correct me and identify where I can verify your counter contentions. If they prove to be incorrect I will be the first to issue a public apology.

 

I will be awaiting what should be an interesting response.

Edited July 15, 2010 by hitescape
Clarity.

[av_30]

I donot find reason to discuss Jade. How can some afford Jade if only account funding and deposit way is Wire and it will cost you min $70-100 per 2 way transaction

[av_30]

I was nagetiive in my post about Jadefx. But there are enough resons to have account

 

1. Just Faboulous feeds (spreads). I have spread recorder indicator which records anytime. I am comparing spreads with ATC Broker , MBT and IAMFX. Jadefx spreads are in comparison with MBT or some time better.

Spreads during 20 GMT to 24 GMT (Megadroid / Fapturbo Time of trade) ignore some high spike in in 15 min i.e. 21 GMT (Just 15 min)

 

EURCHF : Consistently less than 2.5

EURGBP : <1.5

EURUSD : <1

GBPCHF : <3 (During change over time it was as high as 15-20)

USDCHF : <2

 

 

I have spread log file.These spreads are recorded / noted from it. So other than change over time i.e. just 15 min everything else is good. Now slippage etc can only be identified in demo. But if spreads in feed are low , slippage cannot he high.

 

Compare this your broker and confirm your thinking.

 

Jadefx is approved by IFSC (regulating body in Belize). It got its license from IFSC in March 2010 and there is no complaint pening against Jadefx in IFSC. I got this information from IFSC.

 

Also company like GCI Trading (well known name in Forex) is also in belize and they have been issue warning message from IFSC.(REFER IFSC WEBSITE) so this proves that IFSC is active body in belize.

 

Yes transfer (withdrawls / funding) are not very friendly in Jadefx (only wiretransfer available even incomming ahs fees of $17)

 

I think its worth a look.

 

Regards

 

Av

[vicqua]

Thanks Av_30 for your investigatin, i was running some demos with some popular EAs like Primeval & Kain on it, it seems to work so well that 1SL wipes up all the gains for the scalping session, i do not know why, it does not happen on my other platforms like Forex.com & PrimusFx thought i must say there are more trades

[av_30]

I have done enough investigation to believe that their spreads are lowest. I have compared it by recording spreads (I have Indicator which does that) in a log file and comparing them. I have compared Jadefx / ATC / MBT / IAMFX / FXOPEN / Alapri

 

Spreads are best in Jadefx($6 commission) followed by MBT($4.95) and then ATC ($8 commission)

Regarding trade hitting SL, this is no reason to reject a broker as lesser the spreads more would be trade and soething may hit SL.

 

I am NOT promoting Jadefx but the data says what is written above.

 

Also they are regulated by very active body in Belize.

 

In trading "DONOT BELIEVE WHAT YOUR HEART SAYS BELIEV WHAT YOUR DATA SAYS"

 

AV

[loulou69]

I have done enough investigation to believe that their spreads are lowest. I have compared it by recording spreads (I have Indicator which does that) in a log file and comparing them. I have compared Jadefx / ATC / MBT / IAMFX / FXOPEN / Alapri

 

Spreads are best in Jadefx($6 commission) followed by MBT($4.95) and then ATC ($8 commission)

Regarding trade hitting SL, this is no reason to reject a broker as lesser the spreads more would be trade and soething may hit SL.

 

I am NOT promoting Jadefx but the data says what is written above.

 

Also they are regulated by very active body in Belize.

 

In trading "DONOT BELIEVE WHAT YOUR HEART SAYS BELIEV WHAT YOUR DATA SAYS"

 

AV

 

are you comparing with Thecollectivefx ?

[av_30]

are you comparing with Thecollectivefx ?

 

Yes I lately started it. But collectivefx is closed for new accounts and do wire transfer only (almost 70-80 gets wasted),Based in US but not regulated and fixed amount debited everymonth in commision. These are some of con's for thecollectivefx

 

Please refer to following which I have posted in other threads :

 

I have been doing lot of research on brokers for last 1 months. Criteria for choosing broker are as follows

 

1. Spreads : I have logs of spreads of various broker. The best brokers for spreads are MBTRADING , ATC Brokers , Jadefx , Collective FX , DavisaCapital. They all have fantastics spreads. Buts spreads is just half the story. Also check spreads during your trading window.

 

Check this website http://www.fxintel.com/live/

 

2. Execution Time to fill the orders : I tried MB trading. But they are not good. Now I am thinking of trying ATC Broker / Jadefx and if they both fail than Davisa or Collective Fx

 

3.Withdrwals / Transfer : ATC / MBT are good with fleexible system others require Wire transfer which is costly

 

4.Commissions : MBT : 5.9 (variable and convert it in USD which increase this to EURUSD to almost 7.5-8 rtl) ATC Broker ($8 rtl) , Jadefx (Fixed 6 rtl) , Davisa (Fixed 6 rtl). Collective charges fixed monthly fees e.g. 45 Lots @ the price of $147 , u trade or donot it does not matter)

 

5. Another important activty is price movements. Some broker even ECN broker donot move their price quite often e.g. MBTRADING this could disadvantegous. Best in this category is Jadefx /Collective Fx / ATC in order of priority. I checked this with size of log file which gets genertaed with spreads records.

 

6. Regulations/ country in which they operate.

 

Happy trading and do your homework well before finalising it. I have checked other brokers like IAMFX , FXCBS , NordMarket , NordFx , FXOPEN , INSTAFOREX , ALPARI UK ,

 

 

Happy trading and pls revert what you think . Its important decision and need to discussed before finalising it.

 

av_30

[dlf2001]

Jade closed all US accounts. What have any US traders replaced them with for a broker?

[hitescape]

I have done enough investigation to believe that their spreads are lowest...

 

Here is what Jade support had to say about a recent spread of over 45 pips (yes, that was 45 real pips that triggered a SL) on the EURCHF which normally trades in the range of 1 - 3 pip spread.

 

"It is a Liquidity Spike due to the Liquidity rollover at 5 PM EST. At 5.00 PM EST there is a Liquidity rollover at the Bank . Due to that there will be SPIKES because the Daily Liquidity Books are rolled over and swaps are then applied after the rollover. The Liquidity Bank will always do a preliminary and Full investigations upon our request if their is a trade issue.

 

Unfortunately , we can not reverse or nullify a trade which has no issue from the Liquidity Bank.

 

 

Kindest Regards,

 

 

Support Department

JadeFX Ltd.

Trellis Building, Ground Floor

1 1/2 Miles Northern Highway,

Belize City ,

Belize

Tel: 1-877-303-1969

Fax: 1-877-303-6365

Email: [email protected]

 

 

I too use spread tracking software and can tell you that while generally JadeFX has excellent spreads, at the rollover, 5:00 PM EST, their liquidity providers go stop hunting. In the last 2 months I have recorded spreads on the EURCHF ranging from 8 pips to over 60 pips. The GBPCHF pairs has documented spreads between 12 and over 100 pips.

 

If you have an open position with say a 50 pip SL and rollover comes along guess what happens. Yep, you get stopped out.

 

 

Low spreads are great but don't mean very much if your trading requires you to hold positions over the rollover.

[sandman4x]

Awesome broker

 

I tried many Forex brokers so far and I still can't find anything better than JadeFX as far as MT4. Too bad US clients accounts have been closed back in July.

 

I asked support to give me a history of my trades since I could not access the account anymore, and man, this guy (might be Jacob) was just great! He gave me my trade history in less than a couple hours from my first email! He didn't have to do it and go out of his way to help me since I was no longer a client and he didn't have any interest in me as a client. So? Pretty cool!

 

The platform was also great for an STP broker. Not so much of re-quotes or trade context busy and stuff. I'm not saying it's zero, but very few. Also, support is awesome! Very responsive to clients or ex-clients requests!

 

Hats off to you JadeFX! Too bad they don't take US clients anymore!

 

If anyone interested in sharing their good experience with brokers, please feel free to post here.

 

Lets keep this thread clean and not bash brokers but instead, the member who gets a lot of thanks for sharing their broker, we will all see what broker that is and consider it!

 

Simple and clean!

 

Thanks.

[mwe]

Thanks for sharing your experience with jadefx :)

 

Can you tell us why jadefx is such an awesome broker except for their good support for ex-clients. btw "trade context busy" is a problem you should fix on your end by decreasing the amount of ea's/pairs or run more mt4 instances.

[progressapama]

it depends dude... did u have spread logger? I did the logger when the start of jadefx. Maybe now it is lower to 'lure' more ppl to trade it.. be careful.. dont get burnt

 

AUDNZD Spreads are Normally 4 to 7 During Normal Sessions ( Tokyo, London, New York ) but might sometimes stretch to 15 during Dormant sessions (5 PM EST to 10 PM EST --New York Time) . AUDNZD is a volatile Currency pair, it is very unpreditctable and sometimes huge spikes. Anyone who has scalped AUDNZD in Institutional Trading knows this. You can make good profits if you are a good scalper but also understand the volatility risks that come with scalping AUDNZD

Edited November 27, 2010 by progressapama

[progressapama]

i have a small account with jadefx... easy account opening and funding... however...

 

i set it up primarily to trade news reports with a buy and sell stop above and below the market... i traded 2 news reports, 2 pairs each (canadian employment and non-farm payrolls) and had HUGE slippage on every trade. i'm talking about 10-25 pips of slippage. on one particular trade, i had a sell stop set 5 pips from the market... and when it got triggered, i had about 25+ pips of slippage and ended up getting filled 1 pip from the low of the news spike. HORRIBLE FILLS. I was really pissed... especially when i saw where the order was placed and where it finally got filled.

 

i have decided to stick with them and try manual trading... but news scalping is definitely not good on this broker

 

Hi AllienKiller,

 

Unless you understand , What News Trading is all about . I would say you need to research more. During Major news release there is no Guarantee of being filled at the exact price because the Spreads enlarge and prices have Huge Spikes within a second. No Liquidity Bank or Broker is going to Fill out your order in that sense .

 

Here is an example:

 

If your Order is triggered for Execution 11:30:45 Server Time during a news release spike and at 11:30:46 the Price Spike has moved 40 Pips . That Means your trade will be filled at the Market Price which is 40 Pips above your requested Price. That is the REALITY of institutional trading with Pure Unfiltered Spreads. If you trading News you need to be more informed about the true risks associated with news trading rather than just trading it and hoping that reality is not going to happen. Professional Trading is about Managing Risks

[progressapama]

Hi guys,

 

I have been a little busy with couple of stuff lately. I would like to take this opportunity to inform fellow forums members about our honest very Low institutional spreads and what risk to watch out for.

 

1. Very Low institutional Spreads are available all the time during Tokyo, London & New York sessions )

2. Dormant Session -- 4:59 PM EST to 9 PM EST ( 21:59 to 02:00 Server Time ) -- The Spreads will vary wildly during the sessions because there is Low Liquidity and not all Interbank Liquidity Banks are in the Market. So a slight huge order creates a volatile move. The Volatility is high during this times in some cases but sometimes the volatility is low

3. RISKS: At 4:59 to 5:15 PM EST New York Time ( 21:59 to 22:15 Server Time ) --- Liquidity Reconciliation is Done at the Liquidity Bank and Swaps are applied --- During this 15 mins , I would advice anyone who really understands Disciplined professional trading to stay out of the market until Liquidity reconciliation is done. Due the difference in allocated daily liquidity fromm one day to the Next during rollover , There are times this will cause huge Spikes . If you Trade the Dormant session , The Best thing is usually to Open your trades after 5:15 PM EST (22:15 ServerTime ) .If you have open trades during this 15 mins , you want to make sure that you Adjust your SL to Large number temporarily and also make sure you have enough Free Margin to avoid being stopped out especially in currencies that tend to have very low liquidity during this DORMANT session

 

 

Sometimes, it is laughable what some guys do post on this forum about trading. JADEFX is Pure STP/ECN with very Low Institutional Spreads and NO dealing Desk. No Manipulation whatsover that some forum posters dream up. JadeFX is probably the only pure STP/ECN broker that encourages its members to trade with Discipline and Make Profits month after month because it is in its best interest. About 86% of all our members Make Profits month after month compared to only about 9% for any other Broker in the world. Majority of our members are professional Traders , who trade for a living and not as a hobby therefore it is in our best interest if they succeed in making profits month after month. We do everything possible to offer them the best Low institutional Spreads & Fast execution available and continue to maintain Low cost of trading in the industry

Edited November 27, 2010 by progressapama