Do brokers hold profits | Forex Factory

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Do brokers hold profits

  • #1
  • First Post: Jan 8, 2018 9:38pm Jan 8, 2018 9:38pm
Does Oanda hold profits as I have noticed apart from spread manipulations,SL hunts ,freezes on MT4 ?
If the market moves in ur direction its as if they will hold ur profits and will not allow to cross ur price level unless its major trade hours and evn then theu will push the price away ?? FXCM did this in UK and was booked for it as below.

As for US Clients the choice of Broker is limited to FOREX or OANDA and as both seem to manipulate,Are there any other options considering Interactive Brokers stopped offering to retail clients unless 10M account or US Retail Clients just cannot trade Spot FX if they r US resident ??

https://www.reuters.com/article/fca-...0LV1ZB20140226
  • #2
  • Jan 8, 2018 10:29pm Jan 8, 2018 10:29pm
Quoting jospin
Are there any other options considering Interactive Brokers stopped offering to retail clients unless 10M account or US Retail Clients just cannot trade Spot FX if they r US resident ??
Interactive Brokers requires clients make atleast 45k per year.
You should try opening an acct. to confirm.

Oanda is in Canada but you gave an article on FXCM.
They dropped US clients and went international.

I'm a real trader and not some paid actor and I've got to admit that I'm quite dismayed at the amount of options Americans have to trade the Forex.

Another one is TD Ameritrade and I believe their minimum account size is about 2 grand.
Don't know any other downsides but they offer stocks
Trading is a fine art that comes with randomness and yet predictability
  • #3
  • Jan 9, 2018 12:20am Jan 9, 2018 12:20am
Quoting brodank
{quote} Interactive Brokers requires clients make atleast 45k per year. You should try opening an acct. to confirm. Oanda is in Canada but you gave an article on FXCM. They dropped US clients and went international. I'm a real trader and not some paid actor and I've got to admit that I'm quite dismayed at the amount of options Americans have to trade the Forex. Another one is TD Ameritrade and I believe their minimum account size is about 2 grand. Don't know any other downsides but they offer stocks
Trading spot FX is dead in America for serious traders wanting to go full time and earn a living. It is simply foolish to chose a career with only 2 or 3 brokers offering such services.

In the order of preference (for me) Next best move is to
1) go the offshore broker route with small account and trade with broker's money with routine withdrawals, build trading capital and then use #2 or #3
2) go the Futures route if you already have significant capital ($250K minimum)
3) or leave the USA and relocate if you already have significant capital (minimum $100K)

For those who fantasize living cheap in a 3rd world country with $500/week... well, good luck with that!
Staying in my lane...
  • #5
  • Jan 9, 2018 5:08am Jan 9, 2018 5:08am
Check NADEX out, it's a different way of trading but you can be very profitable.
Learn, a forex trader must, unlearn and relearn he will.
  • #6
  • Jan 9, 2018 10:40am Jan 9, 2018 10:40am
Thanks all for the comments.So as Spot Forex being only offered by 2 US Brokers whose prices and margin rules are heavily biased /skewed towards the house to be even profitable for Retail Trader, What are the other top options for fair price/margin "Trade for Living" ?

What other asset classes ( futures,binary options etc ) with Top BROKERS list should be looked into in order of priority of fairness and which are not skewed towards house ?
  • #7
  • Edited 11:32am Jan 9, 2018 11:16am | Edited 11:32am
Quoting jospin
Thanks all for the comments.So as Spot Forex being only offered by 2 US Brokers whose prices and margin rules are heavily biased /skewed towards the house to be even profitable for Retail Trader, What are the other top options for fair price/margin "Trade for Living" ? What other asset classes ( futures,binary options etc ) with Top BROKERS list should be looked into in order of priority of fairness and which are not skewed towards house ?
Forget the broker or market for a minute.....The bigger question for trading as a profession is "Can one make better risk-adjusted profits via trading compared to other avenues of earning full/part time income (business/employment/hobby/blog or whatever)?"

To me, it's all about ROMAD i.e. Return on Max Drawdown. Google it please. Risking capital of 30-40-50% max drawdown to make 5% through your accounting period is extremely idiotic. Return HAS to be atleast more than 3 times Max Drawdown to make this profession sustainable in the long run and a worth while endeavor when EFFORT and SACRIFICE is involved. Personally, I am struggling big time with keeping my MaxDD to under 15% from peak equity. I have tried ALL trading styles except scalping and my research tells me it is NOT possible with trading leveraged instruments. So next 6 months is going to be ONLY scalping for me before I quit trading for good.

Example: if weekly/monthly/annual profit goal is 6%, your maxDD in any given month HAS to be under 2%. If you ignore this, you are simply relying on luck to grow capital and one day, luck will simply run out leaving you to scratch your head and a big fat ulcer in your ass making you realize WTF you have been doing for the past decade!!! This is an absolute beastly truth about trading that no one wants to discuss and those who will raise objections to this mindset will simply try and scam you out of your hard earned money and life savings! There is a reason why I call this forum "FOOLSFactory" (me included!)
Staying in my lane...
  • #8
  • Jan 9, 2018 11:31am Jan 9, 2018 11:31am
Quoting VEEFX
{quote} Forget the broker or market for a minute.....The bigger question for trading as a profession is "Can one make better risk-adjusted profits via trading compared to other avenues of earning full/part time income (business/employment/hobby/blog or whatever)?" To me, it's all about ROMAD i.e. Return on Max Drawdown. Google it please. Risking capital of 30-40-50% max drawdown to make 5% through your accounting period is extremely idiotic. Return HAS to be atleast more than 3 times Max Drawdown to make this profession sustainable in the long run...
food 4 tot
  • #9
  • Jan 9, 2018 11:53am Jan 9, 2018 11:53am
Quoting VEEFX
{quote} Forget the broker or market for a minute.....The bigger question for trading as a profession is "Can one make better risk-adjusted profits via trading compared to other avenues of earning full/part time income (business/employment/hobby/blog or whatever)?" To me, it's all about ROMAD i.e. Return on Max Drawdown. Google it please. Risking capital of 30-40-50% max drawdown to make 5% through your accounting period is extremely idiotic. Return HAS to be atleast more than 3 times Max Drawdown to make this profession sustainable in the long run...

Perhaps sharing my experience will trigger some thought process in some fools.

I began trading stocks in the mid-90s with a very simple philosophy. I was working as a principal for a big-5 management consulting firm with an average billing rate of $450/hour. Our office was focused in high tech, Oil & Gas, Banking and healthcare industries.... all cash rich firms willing to hire stupid consultants to do their stupid work. My investment strategy was simply to invest in these firms where my company was hired from my bi-weekly paycheck. I did that for 10 years and survived two rounds of market crash via dollar cost averaging until 2006 came and I panicked resulting in withdrawing at 40% loss. Why I panicked? because I was playing/gambling with my kids future of sending them to college. Go figure how long does it take to recover from 40% loss. Then forex came in my life in 2006 and lost another 50K in first 4 yrs until 2010. it took me 5 LONG yrs to recover my losses from stock and FX market just to get to breakeven! This is simple math that traders like me put a blindfold on every time they open their MT4 platform and stare at their fancy indicators. It took me immense pain and suffering to recover to breakeven and by some measure I am still a complete LOSER for sacrificing so many hours, days, weekends and months in search of finding a single long term sustainable profitable strategy. Throughout this experience, the only thing I have gained is my own personal development towards hard work, discipline and focus (which I already had by applying it to my primary job and I am HIGHLY successful at my primary line of work!). There is simply no other way out in any line of work or industry. No amount of intelligence can help if one is just LAZY and relies on luck. Being Lucky should be the OUTCOME for your hard work as being Lucky is an important ingredient in any aspect of life. All the successful and famous people have grown out of being Lucky and being at the right place at the right time and grabbing the right opportunity with the right vision and stable mindset.

Hopefully, this will help someone get of their misery.
Staying in my lane...
  • #10
  • Jan 9, 2018 12:22pm Jan 9, 2018 12:22pm
When you read the fine print of the terms of these brokers it clearly tells you the obstacles you may face in getting your money back after giving them your money.
That said the strategies they ever have available are never good enough to make it very long in the market and ultimately they are usually hoping you will fall prey to the market moves to gain experience and give them more money.
I believe one can get this experience for free.
But it also seems to be possible you find an expert advisor for sale that works really well in backtests but fails miserably live and you get no refund from the website you bought it from.
But if their system makes money and together with others it exploits the market then the market will become predictable in that manner and possible to become less effective over time so the saying goes and then you loose.
But I never had any trouble trading and can now double any balance in a day. If people would follow the times of the market or fundamental aspects appropriately there's no reason it would be to tough.
Trading is a fine art that comes with randomness and yet predictability
  • #11
  • Jan 11, 2018 8:31am Jan 11, 2018 8:31am
Quoting jospin
Does Oanda hold profits as I have noticed apart from spread manipulations,SL hunts ,freezes on MT4 ? If the market moves in ur direction its as if they will hold ur profits and will not allow to cross ur price level unless its major trade hours and evn then theu will push the price away ?? FXCM did this in UK and was booked for it as below. As for US Clients the choice of Broker is limited to FOREX or OANDA and as both seem to manipulate,Are there any other options considering Interactive Brokers stopped offering to retail clients unless 10M account...
Is there a chance you run into malpractice with them? Like using forbidden strategies or catching off-market conditions to make profit?
  • #12
  • Last Post: May 18, 2019 1:45pm May 18, 2019 1:45pm
Their profit is more than the traders
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