Broker Complaints …Get over it! | Page 8 | Forex Factory

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Broker Complaints …Get over it!

  • #141
  • Sep 28, 2006 5:46pm Sep 28, 2006 5:46pm
Quoting philmcgrew
Breakouts are amazing in the Forex market. No one talks about them but they perform better in Forex than any market I have ever traded.

Phil
Amen! Give em hell Phil!
  • #142
  • Sep 28, 2006 6:48pm Sep 28, 2006 6:48pm
Well, here's how i see it. Since someone in this thread maybe a broker, Phil.
Can i have the 1 pip spread on NFP, please?! J/K
  • #143
  • Sep 30, 2006 12:46pm Sep 30, 2006 12:46pm
http://newyorkbusiness.com/news.cms?id=14876

This isn't complaining, not at all. Just, a fair warning, of "be careful" who you invest with.
  • #144
  • Oct 11, 2006 4:16pm Oct 11, 2006 4:16pm
Quoting TheRumpledOne
...a FIXED SPREAD BROKER.
If I had a nickle...
  • #145
  • Oct 11, 2006 4:52pm Oct 11, 2006 4:52pm
Quoting Klaka
http://newyorkbusiness.com/news.cms?id=14876

This isn't complaining, not at all. Just, a fair warning, of "be careful" who you invest with.
What do this have to do with forex broker's. have you ever receive a phone call from a firm asking you to send them money to trade in forex. if so will you? this is just one of those boiler room scam.
If I Go Broke Trying Then I Will die happy.
  • #146
  • Oct 11, 2006 4:54pm Oct 11, 2006 4:54pm
Quoting twinchell
If I had a nickle...
Well, he's posted 73 times so you would have $3.65
  • #147
  • Oct 11, 2006 6:57pm Oct 11, 2006 6:57pm
Quoting TheRumpledOne
Phil you said...

I just do not have the problems most of the traders complain about because I do not used a FIXED SPREAD BROKER.


Let's get something straight about this statement and what is being implied. You may not have fixed spread broker problems but you do have variable spread broker problems. Those using fixed spread brokers will not experience some of the problems you experience, namely because you are using a variable spread broker that is patterned after an ECN, which introduces certain problems not found in fixed spread brokers. It is intellectually dishonest to imply that because your broker uses a variable spread that it has no problems. All brokers have problems, and none is bulletproof. The problems experienced by one class of broker may be different, and you might justifiably argue that some of these problems are quantifiably much worse but it isn't a slam dunk. Check out the thread: "Market Makers & ECN's, Is the Grass Greener?"

http://www.forexfactory.com/forexfor...ead.php?t=8046

My advice is to learn as much as possible about the pros and cons of the various brokers, find what works for you and work with that. The truth of the matter is that there are really only a handful of reputable FX brokers out there and the broker (no experience with the IB) that TheRumpledOne is blatantly pimping happens to have a good reputation. Once you find a decent broker, focus your efforts on improving your trading methods and implementation.
  • #148
  • Oct 11, 2006 8:06pm Oct 11, 2006 8:06pm
Quoting Moe
What do this have to do with forex broker's. have you ever receive a phone call from a firm asking you to send them money to trade in forex. if so will you? this is just one of those boiler room scam.
The post is an obvious form of due diliegence. It's EXACTLY to do with forex.
Maybe you should learn to reread and comprehend the link and exactly, what it says. I don't believe that you've read it, correctly.

But, being as. You are a member of atleast 150 posts, i will give you the benefit of the doubt. And lastly, if you notice, i mentioned that the link was to add more research before choosing a broker. NOT as a contradictional form of complaining.

Think before you post.
  • #149
  • Oct 11, 2006 8:10pm Oct 11, 2006 8:10pm
Phil,

i have heard from an access of over 4 brokers, that CME will also be available to retail, aswell as the institutional nesayers. What do you think about this?
Do you believe it's true, to some degree i want to say yes. However, this info came from over 4 dealing desk handlers.
  • #150
  • Oct 11, 2006 8:15pm Oct 11, 2006 8:15pm
Quoting Klaka
Phil,

i have heard from an access of over 4 brokers, that CME will also be available to retail, aswell as the institutional nesayers. What do you think about this?
Do you believe it's true, to some degree i want to say yes. However, this info came from over 4 dealing desk handlers.
I actually corresponded with someone at the FX Marketplace on several occasions. I asked them this question specifically and the answer was NO to retail. That doesn't mean that your broker couldn't join in a year as an institution and pass that along to you in some way. You can email these guys. They will talk to you.
  • #151
  • Oct 11, 2006 8:52pm Oct 11, 2006 8:52pm
  •  Carlos
  • | Joined Sep 2005 | Status: Commitment, planning and discipline | 65 Posts
Thanks Phil,

bores the darn pants off me when i here all the broker mumbo jumbo rubbish. Learn to trade rather than blame your broker, time much better spent.

Happy trading
  • #152
  • Oct 11, 2006 9:14pm Oct 11, 2006 9:14pm
Quoting twinchell
If I had a nickle...
If I had a Hammer...
  • #153
  • Oct 12, 2006 12:32am Oct 12, 2006 12:32am
Quoting Klaka
The post is an obvious form of due diliegence. It's EXACTLY to do with forex.
Maybe you should learn to reread and comprehend the link and exactly, what it says. I don't believe that you've read it, correctly.

But, being as. You are a member of atleast 150 posts, i will give you the benefit of the doubt. And lastly, if you notice, i mentioned that the link was to add more research before choosing a broker. NOT as a contradictional form of complaining.

Think before you post.
i guess you told me. no i didn't read it i just glance at it il go back read it.
If I Go Broke Trying Then I Will die happy.
  • #154
  • Nov 15, 2006 3:47am Nov 15, 2006 3:47am
The thing I don't like is the different prices. I download past prices from different brokers and when I run the averages/medians, they can vary by as much or more than 10 pips. I took a lot of time optimizing a system from data bank, only to find the numbers were much different from other large brokers. If prices can be manipulated so much I don't see the preverbial level playing field. Please enlighten as I don't claim to be an expert.
"Its not where your at, but where your coming from"
  • #155
  • Dec 1, 2006 10:54am Dec 1, 2006 10:54am
Hi
anyone please help me with this problem , who is better from these brokers ODL, IFX, EFX , Oanda and if can please tell me reason also......Even please PM me help me with this.............I will appreciate this help immensley .....can PM me
thank you in advance
BANDA
BANDA333
  • #156
  • Dec 3, 2006 6:44am Dec 3, 2006 6:44am
I am looking for new broker.
I usually trade the news.
I prefer fixed spread.
any suggestions?
Thank you
  • #157
  • Dec 13, 2006 5:53pm Dec 13, 2006 5:53pm
Just discovered this thread.. and have read it end to end and enjoyed it to bits...Cracker!!
Thank you all. Great stuff from you Phil, Merlin and all..Your points are so well made...
But thank you most especially Invictus. who I guess reflects my personal perspective on the subject.... and business in general.
"A Daniel come to judgement..." Merchant of Venice - W Shakespere
(Ok ....Shylock said that , but who's counting...)

Invictus

William Ernest Henley
1849–1903

Out of the night that covers me,
Black as the Pit from pole to pole,
I thank whatever gods may be
For my unconquerable soul.

In the fell clutch of circumstance
I have not winced nor cried aloud.
Under the bludgeonings of chance
My head is bloody, but unbowed.

Beyond this place of wrath and tears
Looms but the Horror of the shade,
And yet the menace of the years
Finds, and shall find, me unafraid.

It matters not how strait the gate,
How charged with punishments the scroll,
I am the master of my fate:
I am the captain of my soul.


Yea.. that fits...Thanks mate
Its nice to read someone who actually knows what he's talking about....
who wont take BS and is not afraid to share his knowhow.
  • #158
  • Jan 3, 2007 6:04pm Jan 3, 2007 6:04pm
After having read alot about the basic principles of trading currencies on this forum, I am relieved to see that money management is not overlooked as one of the fundamentals to prospering in the FX markets. Surely, there are many viable strategies that can be implemented to protect our downside risk, as long as we are comfortable with the adverse effects these implemented strategies.

What I think is a concern and a disgrace to the FX markets is the fact that a seudo MM like IBFX can ignore your pending orders to the point where there has already been 45 pips slippage before getting you in, but then lock you out of the platform for hours hoping that prices will come back in their favor. Sure they have a logical excuse for this, but when it happens two days in a row it really shows what they are made of. It is curious that their platform would only let you place new orders, but not alter or delete existing ones, unless they were very far away from the market. Since I have several different bank feeds running at the same time, and none of these things happened there, I have to say that IBFX is a lousy place to do business. And for those who may jump on the defensive and say that everyone complains when they lose, sorry but the account still made 20% for the day. By the way, I did not chose this broker. I decided to help a friend get out of some deep losses. All I'd like to point out is that there are plenty of FOREX brokers that deal fairly out there.
  • #159
  • Jan 3, 2007 6:19pm Jan 3, 2007 6:19pm
Quoting FX RE
After having read alot about the basic principles of trading currencies on this forum, I am relieved to see that money management is not overlooked as one of the fundamentals to prospering in the FX markets. Surely, there are many viable strategies that can be implemented to protect our downside risk, as long as we are comfortable with the adverse effects these implemented strategies.

What I think is a concern and a disgrace to the FX markets is the fact that a seudo MM like IBFX can ignore your pending orders to the point where there has already been 45 pips slippage before getting you in, but then lock you out of the platform for hours hoping that prices will come back in their favor. Sure they have a logical excuse for this, but when it happens two days in a row it really shows what they are made of. It is curious that their platform would only let you place new orders, but not alter or delete existing ones, unless they were very far away from the market. Since I have several different bank feeds running at the same time, and none of these things happened there, I have to say that IBFX is a lousy place to do business. And for those who may jump on the defensive and say that everyone complains when they lose, sorry but the account still made 20% for the day. By the way, I did not chose this broker. I decided to help a friend get out of some deep losses. All I'd like to point out is that there are plenty of FOREX brokers that deal fairly out there.
HUH? IBFX is a broker, not a money manager nor do they employ money management. That's your job and since you've professed your prowess as a money manager elsewhere you should know the difference.

If a broker screws you over 1 day then shame on them. If you go back form more while expecting different results a day later then shame on you.

I'm not sure if you're posting to complain about the broker or brag about making 20%. I've never met any responsible money manager who came close to making 20% in one day.

The biggest irony is that this is a thread discussing the idea of complaining about your broker through the proper channels and not to your buddies on FF who are powerless to assist you. You should start your own 'my broker sucks' thread where you can stir up more sympathy.
  • #160
  • Jan 4, 2007 3:08am Jan 4, 2007 3:08am
  •  Trader#0000
  • | Status: Unregistered Trader
Hey Phil,

The MM in FX RE post may have refered to Market Maker, not Money Manager??
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