Broker took my $2k back

No its not fxcm. I will share this info next week, as they are still dealing with my query.

Nope !

in my opinion, strategy that can only work at some brokers and can't work totally on another broker especially ecn is only exploiting the technical glitch/delay.

see Maxey for example, he only trade at unpopular broker like mbcfx.com, fxstarts.ru, gigbrokers.com, prime4x.com

why doesnt he trade at dukas or currenex platform, or MBT ?!? i'm sure he has fund to open dukas/any currenex account.. or perhaps his technical exploiting can't be done in ecn ?

Ok, i accept this. But if brokers has technical glitches its up to them to fix them. They are judge, jury and executioner.

If the technical glitch is with Metatrader 4, all the broker can do is report it to Metaquotes, and then wait forever for them to get around fixing the exploit.

In the meantime, any noob with an autoclick script can try to take advantage of the flaws, followed by them crying scam on forums when they are caught.

Any broker that voids illicit profits made by cheating the system is well within it's rights to do so, especially when that cheating causes great losses for the company. As long as the broker doesn't steal the initial capital as well as voiding the profits, then all you(the autoclick noob) can do is move on to the next new broker who hasn't discovered the flaws yet, and trade with them until they too catch you.

Honestly, why bother with autoclick? It just causes pain when your illicit profits get voided. Learn how to trade like a real trader instead.

Oakmonster, are you a broker per chance?

I disagree they should be able to void profits. As, with newstrading its not 100%. So, anyone who traded Aud CPI in Oct 07, or NFP in Sept/Oct 06, knows the trade can go south very quickly. In those situations, i'm not going to ask the broker for a refund due to him filling me.

If i'd have lost $2k, i am 100% certain they'd have kept it.

Newstrading comes off the brokers bottom line, as they never hedge, like they claim. Zero sum game etc.

I have received a response (not favourable) so I will complain to Financial Ombudsman.

I gave them the benefit of the doubt to compromise on the order, but will name them now.

The Scam broker is: London Capital Group:

They own Tradefair, Worldspreads, Capitalspreads, Capital forex, Capital forex pro, Paddypower. All whitelabels for LCG.

So maybe only UK traders have used them, through a spreadbetting vehicle. But unmistakedly, they are scam shop.

You can read about them here:

http://www.forexpeacearmy.com/public...talspreads.com

No doubt there will be other neg comments to follow.

Even after winning on some swing trades, i was put on manual execution. For a while i would click an order, during a slow market, it would get rejected, even though the price hadnt moved at all. They always gave me the response that their tech dept were "working on it". Even though, i tried them on different computers. My friends ac worked fine. This is when i knew my ac was flagged, and they flicked a switch to give me poor execution and fills.

In summary, if they have has happened to anyone else with this broker, i would complain to the Financial Ombudsmen, a regulator who is too aware of them.

Avoid this broker at all costs!!!

If you need advice on spreadbetting companies just PM me.

Looks like they had bad reviews from the start. I would never put real money into a company like that anyway.

Good luck trying to get your $ back but I fear it will be a losing battle.

Yes,

There are plenty of ways to lose money in forex. The last thing a trader wants to worry about is Counterparty risk!

Stay away from these scammers.

There are plenty of good brokers out there.

You may want to check on this but I don't think London Capital Group owns Worldspreads. From my info, Worldspreads are a different company.