YOu are very innocent bro. YOu should have withdrawn the original later on profit from time to time. They have a department of market makers, which means they transfer your positions against their own employees who opened trade against your trade. This also mean you won and forex.com lost all that money.
They aren't silly to give you their own funds. All I feel sorry for is your loss, I was scammed by them for approx $300k in 2008 during GFC. I deposited from Dubai banks.
Try to withdraw $5000 at a time.
Send me a private PM. Do not worry if they close your account. You may access your account and funds online as well.
{quote} fxcm was much better than forex.com, but now fxcm also have market maker department therefore, i stopped using both of them. {quote} YOu are very innocent bro. YOu should have withdrawn the original later on profit from time to time. They have a department of market makers, which means they transfer your positions against their own employees who opened trade against your trade. This also mean you won and forex.com lost all that money. They aren't silly to give you their own funds. All I feel sorry for is your loss, I was scammed by them...
Ignored
So who is the Broker that is not MM??
Who is ur current broker?
{quote} So who is the Broker that is not MM?? Who is ur current broker?
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currently, I'm using icmarket.com.au. Good spread and no drama when you withdraw funds.
I did have good experience with fxcm even though I used to withdraw profit from overseas banks. But then after the bailout they started similar dramas as forex.com.
{quote} but they are Market Makers? any non MM broker in AU?
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I found this on ICmarket website.
In Australia, all Forex and CFD providers, including IC Markets, have the market-making authorization on their AFS license; IC Markets is the issuer of the products it provides. We consider ourselves to be a Forex provider offering the ECN pricing model as we source our pricing from external unrelated liquidity providers via an ECN. These prices are passed on to you with no dealing desk intervention. In order to provide you with better price certainty and to ensure fast execution speed, we do not hedge each and every position with our liquidity providers. We do this in order to provide you with a better overall trading experience.
Forex brokers use three main business models which differ in the way the transactions are handled and orders are executed: ECN, STP and Market Makers.
Market Maker: In Australia, all Forex and CFD providers, including IC Markets, have the market-making authorization on their AFS license; however, many do not consider themselves market makers. Typically, market makers operate a dealing desk in order to create their own prices. These prices can be based on their own proprietary trading positions or overall risk exposure and may not reflect the prices in the underlying market.
ECN: ECN stands for 'Electronic Communication Network', which is simply a technical term that is used to describe how banks and liquidity providers connect to each other to form bids and offer prices. In the Forex industry, it can be used to identify providers who use this type of pricing mechanism in order to offer raw interbank pricing to retail traders. Under this model, your broker will stream raw prices and your trades will be offset with another client or liquidity provider or held internally by the broker. This usually results in faster trade execution. This is distinct from order execution, which may result in an offsetting order placed with a liquidity provider.
STP: This term stands for 'Straight Through Processing' and is used when a Forex and CFD provider process all trades at market prices obtained from a liquidity provider. This price is simply passed on by the broker. This is not dissimilar to the ECN pricing model in that the price is not altered and there is no dealing desk intervention when the trade is processed; hence, it is known as STP.
Market Maker: In Australia, all Forex and CFD providers, including IC Markets, have the market-making authorization on their AFS license; however, many do not consider themselves market makers. Typically, market makers operate a dealing desk in order to create their own prices. These prices can be based on their own proprietary trading positions or overall risk exposure and may not reflect the prices in the underlying market.
I made 25k at Forex.com and they closed my account. Also made 85k at Oanda closed as well...lol
"We recently conducted a review of your account and unfortunately we are unable to continue to offer you the service.
Pursuant to our fxTrade - Customer Agreement, we are advising you that we have terminated the fxTrade - Customer Agreement between yourself and OANDA (Canada) Corporation ULC with immediate effect. Your open trades and positions have been closed. Upon account closure, all remaining balance(s) in your trading sub-accounts will be returned to the original source of funding or equivalent.
The fxTrade - Customer Agreement is available on our website at: -"
Just like that fuck off...LOL
But I have to mention I'm in Canada and they did give me all my profits so I guess i can call them shady but not scammers...I made my money scalping so they must be losing when I make money since im in a trade for no more then 1 hour and sometimes few seconds.
Dude, XM just ripped me off on the CPI data release.....
GBPUSD
right when the data release
Entry: 1.17333 buy
Stop Loss : 1.1734
price was at 1.1728 before the data release
From 1.1728 it went down by over 120pips
But XM broker says I made a loss of 75 pips, even when I had a stop loss of 10pips
shocking to see profitable traders being “rejected” by market makers ..
again, there’s tons of dealers & financial institutions so just be careful when depositing with outright market makers.
For scalping you should conduct thorough research as clearly market-maker won't tolerate you long if you consistently pull out money from their pocket. However you can relax and choose any if you are swing traders. The problem is that most profitable opportunities concentrate in short-term price movements.
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Joined Nov 2022
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Status: Junior Member
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XM closed my account too and removed 1460 of my profits
i will share full details after getting approval from Forex Factory.
(Please FF Admin let me comment normally in the forum)
