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Please Help Me Choose a New Broker

  • #21
  • Mar 29, 2012 10:03am Mar 29, 2012 10:03am
Quoting absconditus
Hello,

What I'm posting is more of a question than an answer but I hope that it will help inform your choice.
Apart from strong regulations and low spreads a feature I really value is market reports. I have a 5000$ account with markets.com and I used to occasionally receive the combined reports and research from JPMorgan, Deutsche Bank, HSBC, Commerz ... They are really helpful. But one day I received an email from my trading specialist telling me that if I wanted to receive these reports daily I will have to deposit more money into my account.

My...
Absconditus, sorry for the delay answering your questions:

1) Sorry, but I really don't know the answer to this question, but I believe that some kind of news can be found for free on Google (maybe it;s not applicable in this case anyway);

2) My personal view of markets.com are that they are Market Makers and I really don't recommend anyone to go with MMs, because certainly you can find better trading conditions on ECN/STP brokers. In addition, they're very new in the market. My advice is that you should always pick an older broker (4 years on the market at least) because then you can feel more comfortable and confident about them not being a scam or ponzi scheme.

I hope it helps a little bit. Many thanks for your questions.

Regards,
MrJinks.
  • #22
  • Mar 29, 2012 11:15am Mar 29, 2012 11:15am
Quoting Cheese_Mouse
To be honest I really have a problem being a client of a broker, "reputable" or not who benefits from your losses. Doesn't seem to be a win-win relationship.

I can't figure out how the MMs make money betting against their clients? How do they choose which client to play against with? Does it mean that on aggregate most of the clients loose money in FX trading? And if a lot of them loose money, why do they trade FX after all?

Sorry for bothering you with all these questions but I really get confused here.
Cheese Mouse, excellent questions. They tend to choose those clients who are "too" profitable. Then they start the manipulation, with suddenly price spikes, requotes, etc. And yes, the majority of clients lose money not only in FX trading, but in all the other markets around but especially FX because it's a market that isn't too regulated yet. Add this to the fact that FX doesn't have a central clearing to guarantee payment of the counterparties. In my personal point of view, most people still trade FX cause of the leverage it offers...

Hope it helps you. Thanks for your questions.

Regards,
MrJinks.
  • #23
  • Apr 6, 2012 2:52am Apr 6, 2012 2:52am
I noticed that very often some traders like this or that broker, others on the contrary-don't like. I can explain it only that each trader can be treated by one broker in a different way. Why it happens so? How do they chose whom to treat good and whom bad?
  • #24
  • Apr 6, 2012 3:50am Apr 6, 2012 3:50am
i prefer FXCM..
because the best software i have ever use.
  • #25
  • Apr 23, 2012 9:03am Apr 23, 2012 9:03am
It's always wise to keep an eye on the other good brokers out there.

Be prepared and you will have a good mood in trading even when your current broker is not good enough.
  • #26
  • Apr 24, 2012 9:56am Apr 24, 2012 9:56am
I also have a question .Do you know any reliable broker's that offers forex indexes ? Thanks .

P.S With mt4 platform .
  • #27
  • Apr 24, 2012 10:21am Apr 24, 2012 10:21am
Quoting LeanLowFx
I also have a question .Do you know any reliable broker's that offers forex indexes ? Thanks .

P.S With mt4 platform .
Do you mean equity index?

Or currency baskets, such as the US Dollar index /DX in futures or FXCM's USDollar index?

Oanda just came out with basket trading currencies, but it's in beta.. and not available in all regions (regulation issues) ... fxUnity
FXGears.com
  • #28
  • Last Post: Apr 24, 2012 1:03pm Apr 24, 2012 1:03pm
Quoting Jack_Larkin
Do you mean equity index?

Or currency baskets, such as the US Dollar index /DX in futures or FXCM's USDollar index?

Oanda just came out with basket trading currencies, but it's in beta.. and not available in all regions (regulation issues) ... fxUnity
Like saxobank has it , but only on mt4 platform.
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