Gain Capital rejected strategy market orders 2x in 3 weeks b/c they felt like it

[bluelou]

I've had Gain Capital reject my automated market orders 2x in the past 3 weeks. When I called them today to find out why my market order was rejected they said the market was "too volatile".

I didn't realize that they could just back away from customer orders like that. Has anyone else had this problem with them? I saw the NFA compliant from earlier this yeas (see link below). http://www.elitetrader.com/vb/attach...postid=2995556

Can anyone suggest which forex brokers/dealers aren't playing games like this? I'm assuming that IAB, as a broker, commits to fill forex market orders. Can anyone confirm?

[RDPoS]

I friend of mine who worked for Susquehanna said that IB was the most shady of brokers because they scalp nickels and dimes from customers on movements. I have also heard horrible things about Gain so moving to IB would probably be a lateral move.

[bluelou]

I hope you're wrong about IB. I was thinking of switching to them. I'm pretty sure that they're agency-only. I'd like to see NT add FXCM, another agency-only forex broker. I'm done w/the dealer-scam business model. I didn't know it was possible to walk away from a market order until now.

[NinjaTrader_Austin]

RDPoS, IB is an ECN type broker, which means they only match orders placed by customers. They do not charge a spread, they just charge commissions and match orders.

Bluelou, you will want to search for ECN (or direct market access) brokers - there are quite a few brokers to chose from on the NinjaTrader-compatible broker listing.

[bluelou]

Right, that's what I meant by agency-only - an "ECN-type" broker.