Is this scam or?

[januson 10]

Hi there...

I'm new to this and ofcause I'm trying to find the perfect tradingplatform. I live in Denmark and that's definitely not the best country to be located in when it comes to brokers and tradingsoftware.

 

The reason for this question... I'm evalualting SaxoTrader2 and dicovers this strange behaviour, is it normal or is it scam?

 

The closingprice are 1 tick lower than the openingprice? I've examined all the candles and it's the same story each time.

In my logic that's an anomally caused by the the broker to get an advantage in their own buying pool!

 

Please view the attached gifs for details

[Knyyt 10]

Hello Januson,

 

I do not have any personal experiance with Saxon, but doing a quick review of others opinions, seems like they are not trustworthy.

re: Online Forex broker reviews | Saxo Bank Review | saxobank.com rating

 

Looks like a Fx type of operation yes? I am sure if you asked around you should be able to get some better recommendations.

 

( All above is my personal opinion )

 

Regards, Knyyt

[januson 10]

Thanks for reply.

 

The charts shows normal stock trading as realtime 5min candlestick.

 

Cheers

Janus

[torero 10]

You have to realize that the some trading platforms use feeds from dealing desk quotes. I have MBTrading and Tradestation quotes and charts side by side and just watching EURUSD, the quotes are 2-3 pips off on bids (MBT is non-dealing desk and TS uses a dealing desk broker). So be careful and compare by having multiple platforms up and see whose quotes are real or whose are not.

[januson 10]

Thank you for your advice - I'll be extra carefull now.

 

But to gets thing right... The charts I've attached, are they wrong? Is it possible to have an opening price greater than the closingprice?

[Kiwi 16]

Saxo has a bad reputation out there.

 

Try Oanda (better) or Interactive Brokers if you want to trade currencies.

 

Try Interactive Brokers if you want to trade worldwide futures or stocks.

 

They are the standard by which all others are judged.

[torero 10]

Thank you for your advice - I'll be extra carefull now.

 

But to gets thing right... The charts I've attached, are they wrong? Is it possible to have an opening price greater than the closingprice?

 

Having the correct correct data feed is essential. It's normal to see opening price different from closing prices etc. due to gaps. But double-check for reliability of the data by comparing sources, and of course, checking current users of the platforms.

[januson 10]

Okay... Thank for the advices

[keymoo 10]

Just because you live in Denmark doesn't mean you can't use US brokers. I live in UK and have my trading funds in a US Dollar brokerage because the UK brokers charge too much.

[januson 10]

Yes I know I can choose from a variety of brokers, but I'm a bit afraid of the delay between my station and the Nordic Stock Exchange if it's routed through an US-broker? or?

[Kiwi 16]

Interactive Brokers hosts your connection on the US, Hong Kong or Swiss servers depending on which part of the world you are trading. I suspect the Nor-Switzerland-Nor delays would be acceptable for most forms of trading.

 

Thats assuming they have your stocks in their product list. You'll need to check on their website.

[keymoo 10]

I trade the US markets and the DAX which is connected to Eurex and it's no problem to me. However I don't mind a 150ms delay which is about the average from UK. Not sure what the delay would be from Denmark, no more than 200ms, however you might want to test it if you need sub-second response times.

[Reaver 10]

I always liked Oanda due to simplicity and they pay you interest, etc.....

 

Never had any issues with them at all.