Some of the local traders I have contacted have a built-in bias when choosing for a broker. Most of them prefer to deal with a local; they conclude that local brokers are easier to get in touch with as well as go after should they go rogue.
Littles does my local trader friends know, local or foreign, once they declare bankrupcy, no money can be received.
American based brokers seems to be the most widely used in the world - perhaps because americans and europeans prefer to deal with them. This implies that these popular brokers would have deviced tricks and hidden rules to counter trader's money earning strategies...
I personally have/had accounts with FXCM, NorthFinance, GFT and IBFX. 3 of these are US based and have screwed me with their hidden rules. NorthFinance is the most humane in my experience and I am most profitable with too.
My mentor told me to deal ONLY with CFT, NFA and the other alphabet organizations registered brokers. Fine Ok. Guess what, FXCM, GFT and IBFX are members of these org and are the only ones that have been screwing me with their dirty hidden rules (IBFX recently removed/deleted a winning trade because I deleted it 30 seconds after it should have closed on its own???)
Surely it is too early to judge other US based brokers. But now I have build a fear on dealing with any of them. As far as I am concern, US, European, Russian brokers - are all foreign to me and the most frustations were experienced from US based brokers.
Of course it is too early to embrace non-US brokers and I'd like to hear your story about them. My single nonUS based broker does not generalize the others and your experience are most welcome to add info/knowledge/light to the subject.
Littles does my local trader friends know, local or foreign, once they declare bankrupcy, no money can be received.
American based brokers seems to be the most widely used in the world - perhaps because americans and europeans prefer to deal with them. This implies that these popular brokers would have deviced tricks and hidden rules to counter trader's money earning strategies...
I personally have/had accounts with FXCM, NorthFinance, GFT and IBFX. 3 of these are US based and have screwed me with their hidden rules. NorthFinance is the most humane in my experience and I am most profitable with too.
My mentor told me to deal ONLY with CFT, NFA and the other alphabet organizations registered brokers. Fine Ok. Guess what, FXCM, GFT and IBFX are members of these org and are the only ones that have been screwing me with their dirty hidden rules (IBFX recently removed/deleted a winning trade because I deleted it 30 seconds after it should have closed on its own???)
Surely it is too early to judge other US based brokers. But now I have build a fear on dealing with any of them. As far as I am concern, US, European, Russian brokers - are all foreign to me and the most frustations were experienced from US based brokers.
Of course it is too early to embrace non-US brokers and I'd like to hear your story about them. My single nonUS based broker does not generalize the others and your experience are most welcome to add info/knowledge/light to the subject.