US Forex brokers profitability report for Q1 2011 | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Forex profitability- The 1% debate 0 replies

US Forex brokers account profitability comparison 34 replies

FXCM's Profitability Report!!! 61 replies

IBfx's Profitability Report 29 replies

Risk Multiples and Profitability 1 reply

US Forex brokers profitability report for Q1 2011

  • #1
  • First Post: Apr 13, 2011 3:00pm Apr 13, 2011 3:00pm
http://forexmagnates.com/us-forex-br...t-for-q1-2011/
  • #2
  • Apr 13, 2011 9:44pm Apr 13, 2011 9:44pm
It looks like there is an overall increase in trader's profitability. Could be that brokers are playing less games in order to improve their image. They all want to be at the top of this profitability tree in order to attract more clients.

It's been commented on the website link above that brokers who are at the top are market makers. So much so for MB Trading the ECN who is supposed to give a better deal for traders but they are at the bottom half in terms of trader's profitability. Another myth busted.
  • #3
  • Apr 13, 2011 10:21pm Apr 13, 2011 10:21pm
oanda was full of sh!t and dirty.
  • #4
  • Apr 13, 2011 11:49pm Apr 13, 2011 11:49pm
Quoting PoundTrader
oanda was full of sh!t and dirty.
Oanda like to project a squeaky clean image but they are no better than the rest. Massive spreads during the news time. Like I said above a few myths are being busted about some brokers which were generally seen as being better than others. More to come.
  • #5
  • Apr 13, 2011 11:51pm Apr 13, 2011 11:51pm
Quoting PipStar
Oanda like to project a squeaky clean image but they are no better than the rest. Massive spreads during the news time. Like I said above a few myths are being busted about some brokers which were generally seen as being better than others. More to come.
  • #6
  • Edited 12:33am Apr 14, 2011 12:17am | Edited 12:33am
ECN brokers such as MBTrading failed because of huge slippage/liquidity problems, espeacially when they rely solely on the limited number of banks feed. Some market makers can guarantee stop order, they can also provide unlimited liquidity at any time (even if the quotes/volume may not be directly come from the banks ). ECN may not be the best option for retail traders.
  • #7
  • Apr 14, 2011 5:11am Apr 14, 2011 5:11am
Quoting fxfei
ECN brokers such as MBTrading failed because of huge slippage/liquidity problems, espeacially when they rely solely on the limited number of banks feed. Some market makers can guarantee stop order, they can also provide unlimited liquidity at any time (even if the quotes/volume may not be directly come from the banks ). ECN may not be the best option for retail traders.
  • #8
  • Apr 14, 2011 9:07am Apr 14, 2011 9:07am
I have to say - looking at this report makes me think the best option for a trader like me (usually around 1-2k account balance) is one of the big market makers. Oanda, GFT, Forex.com. It really looks like the cyprus and russia based market makers are the ones that rip you off, or maybe the other nfa market makers that have since gone out of business. Spent a long time looking for the perfect STP or ECN broker because i was concerned with the often mentioned "conflict of interest" with MMs, but look at these numbers. People love MB trading because they are a ECN, FXCM never shuts up about being STP, but look at the numbers!

Im not saying this report should be used to decide which broker i will have the best chance of making money at, but it does seem that to say you CAN'T make money at a MM because they hunt your stops and blah blah blah may be overblow.
  • #9
  • Apr 14, 2011 11:47am Apr 14, 2011 11:47am
Quoting fxfei
ECN brokers such as MBTrading failed because of huge slippage/liquidity problems, espeacially when they rely solely on the limited number of banks feed. Some market makers can guarantee stop order, they can also provide unlimited liquidity at any time (even if the quotes/volume may not be directly come from the banks ). ECN may not be the best option for retail traders.
And I'm sure if I gave the keys of a Ferrari GTO to my girlfriend, she'd still find a way to drive it into a ditch, but it doesn't speak ill of the quality of Ferrari.

While these reports are interesting to see, let's not forget that profitability falls upon the competency of both the trader and the broker.

Lastly, there is no broker that provides unlimited liquidity, and I would be highly suspect of 'guaranteed stops'.
  • #10
  • Apr 14, 2011 2:32pm Apr 14, 2011 2:32pm
Quoting PoundTrader
oanda was full of sh!t and dirty.
but why their profit and clients increase ?

fxcm also gain more profit and clients ...what is the secrets behind these 2 brokers
  • #11
  • Apr 14, 2011 4:11pm Apr 14, 2011 4:11pm
Quoting forexmr
but why their profit and clients increase ?

fxcm also gain more profit and clients ...what is the secrets behind these 2 brokers
newbies mabe, marketing
  • #12
  • Apr 14, 2011 8:43pm Apr 14, 2011 8:43pm
Quoting ForexSooth
I have to say - looking at this report makes me think the best option for a trader like me (usually around 1-2k account balance) is one of the big market makers....
Actually, the funny thing that people overlook...most MM will let you trade for a few months and give you perfect fills...like FXCM did to me when I was new. They want you to raise your deposit as you feel comfortable. Then they flush you. Everything can be hidden in these numbers. More important would be how many accounts drop 50% or more after x months with each broker. We know Oanda's numbers are faulty because they aren't just an FX broker. Other than that, most of these numbers are in-line and reveal little. Heck, if an MM was smart right now, they'd try to help get 50% of their customers "profitable." Everyone would move their money over, then they could take it all. They aren't in this for the short run, they just want the biggest deposit because for the MM brokers, that's like money sitting waiting to be transferred into their name. ROFL.
  • #13
  • Apr 14, 2011 8:58pm Apr 14, 2011 8:58pm
Quoting tar
http://forexmagnates.com/us-forex-br...t-for-q1-2011/
Oanda has more accounts then FXCM at the moment. The civil action having some affect on FXCM?

scfx
The best indicator is price.
  • #14
  • Apr 15, 2011 3:55am Apr 15, 2011 3:55am
Quoting IndyTrader
Actually, the funny thing that people overlook...most MM will let you trade for a few months and give you perfect fills...like FXCM did to me when I was new. They want you to raise your deposit as you feel comfortable. Then they flush you. Everything can be hidden in these numbers. More important would be how many accounts drop 50% or more after x months with each broker. We know Oanda's numbers are faulty because they aren't just an FX broker. Other than that, most of these numbers are in-line and reveal little. Heck, if an MM was smart right now,...
lol what a load of s**t , nice try Indy , let the numbers speaks for itself , MB has a very low percentage of profitable traders , i wonder why
  • #15
  • Last Post: Apr 15, 2011 3:58am Apr 15, 2011 3:58am
Quoting scfx
Oanda has more accounts then FXCM at the moment. The civil action having some affect on FXCM?

scfx
No ,these numbers is for US clients only ...
2 traders viewing now