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Which Broker is truly reliable?

  • #101
  • Jan 17, 2013 11:20am Jan 17, 2013 11:20am
newbie question

let's say some very good trader has a capital of 1,000,000 and he makes 10% monthly just in forex

it is possible to win 100K monthly without to worry about your forex broker steal your money , or refuse to pay you??? I mean is there anybody making big money in forex?

or maybe with that kind of money you'd better diversify and start trading futures, stock etc? I mean more regulated markets?
  • #102
  • Jan 17, 2013 5:51pm Jan 17, 2013 5:51pm
Quoting shark10
newbie question

let's say some very good trader has a capital of 1,000,000 and he makes 10% monthly just in forex

it is possible to win 100K monthly without to worry about your forex broker steal your money , or refuse to pay you??? I mean is there anybody making big money in forex?

or maybe with that kind of money you'd better diversify and start trading futures, stock etc? I mean more regulated markets?
As long as you use a regulated broker that is fully compliant in a recognized centre you wont have an issue.

Is there anyone body making big money in Forex? HELL YES !

Regulated markets safe? NO just ask MF Global customers.

Most big or smart punters have several brokers.

1. Diversifying capital retention ( broker folds)

2. Execution (all brokers arent equal)

3. Platform outage. (Its IT what do you expect)
  • #103
  • Jan 17, 2013 7:53pm Jan 17, 2013 7:53pm
hello.
May i ask Who is your broker?
Quoting lasty
As long as you use a regulated broker that is fully compliant in a recognized centre you wont have an issue.

Is there anyone body making big money in Forex? HELL YES !

Regulated markets safe? NO just ask MF Global customers.

Most big or smart punters have several brokers.

1. Diversifying capital retention ( broker folds)

2. Execution (all brokers arent equal)

3. Platform outage. (Its IT what do you expect)
  • #104
  • Jan 17, 2013 10:29pm Jan 17, 2013 10:29pm
Quoting shark10
or maybe with that kind of money you'd better diversify and start trading futures, stock etc? I mean more regulated markets?
//----

yes, with that kinda money it would be wise to diversify both in brokers and markets..... there will almost always be someone out there with some sort of complaint about a particular broker...... it's to be expected......

i've used ibfx for over 8 years.... have 4 live accounts there.... withdraw money all the time..... only takes a couple clicks and a couple days.... usually withdraw 3 to 5,000...... can't ever remember withdrawing more than 10,000 at any one time....

i also use etradefx..... both ibfx and etradefx have been perfect to me......

//----

etf's are a great way to diversify.....

i trade true options on the gbp, aud, nzd, eur, cad and such indexes.... known as bpx, aux, ndo, euu, xdc ..... but open interest is almost non existant..... that is not binary options you hear so much about lately.....

spreading your money around between brokers would be wise.....h
to trade and code, keep both simple... no call to impress....h
  • #105
  • Jan 18, 2013 3:06am Jan 18, 2013 3:06am
Quoting PipQuantum
1 year ago I opened an account with FxPro, i spend 6 months trading my system with a lot of discipline and had an average growth of 35% per month without a single lossing month. After that time my account grew from $2.500 to $15.000 usd, when I finally decided to ask a withdrawal never came to my account.
The first withdrawal was for $2,500 and only received $100 usd, the second was for $1,000 and never got anything. In the end very angry decided to ask my account total remaining of $11,500 usd and neither received any transfer.
Spend months...
I have traded with FxPro for some time and even though this is an old post I find this incredibly hard to believe as I have never experienced withdrawal issue, it just seems crazy to me that you never received $11,500. They are regulated by the FSA, CySec and ASIC. All of whom provide loss protection and are there for your benefit.

If you never received your funds you should follow the correct channels with the FSA or CySec, I am sure you still have your trading and account history to prove that you had the funds and requested a withdrawal. I am also quite curious to hear with FxPro said to you considering you have an account and made the request.
  • #106
  • Jan 19, 2013 10:28am Jan 19, 2013 10:28am
Most if not all retail brokers are not really good and are there to pick up your cash. I do not know any of them who will look after their clients properly.
Bear in mind most of those guys have no real inter bank trading experiences. Usually the ones who works for them are the ones who did not make it in the banking sector.
  • #107
  • Jan 24, 2013 2:39am Jan 24, 2013 2:39am
I need a new Broker and I'm thinking about going to IC Markets.
Their spread is quite competitive and most Brokers with better spreads seem to be located in Russia where I don't really want to send my money..

http://www.myfxbook.com/forex-broker-spreads

Is anyone trading with IC Markets or can anyone recommend a good Broker?
  • #108
  • Jan 24, 2013 12:47pm Jan 24, 2013 12:47pm
There is an interesting trend that shows the transition of the the FX market from market making towards STP/DMA/ECN brokers. Since the market becomes quite competitive nowadays, many well-established names could soon face even more pressure than before in terms of business model, execution quality, commissions, overall cost etc. I've noticed that in general Europe tends to be the best choice for a quality STP brokerage service.
  • #109
  • Jan 24, 2013 3:20pm Jan 24, 2013 3:20pm
i've traded with a bunch of brokers. the ones i think positively of are oanda, fxcm, and avafx.
  • #110
  • Jan 31, 2013 8:40am Jan 31, 2013 8:40am
Can somebody tell your opinion as to accentforex. Is this reliable broker?
  • #111
  • Feb 2, 2013 10:18am Feb 2, 2013 10:18am
I see a lot of people here recommending AvaFX but they are poorly rated in FPA, only 2.5 stars.

Are the FPA reviews reliable?
  • #112
  • Feb 6, 2013 1:29am Feb 6, 2013 1:29am
Yes, FPA site's review is reliable since FPA staff is strict in approve broker's review.
I'm trading with hotforex and I see it's very trustful .
  • #113
  • Feb 6, 2013 9:56am Feb 6, 2013 9:56am
Quoting fxnoobee
I see a lot of people here recommending AvaFX but they are poorly rated in FPA, only 2.5 stars.

Are the FPA reviews reliable?
Judge for yourself:
http://www.forexfactory.com/showthread.php?t=241869
  • #114
  • Feb 28, 2013 7:45am Feb 28, 2013 7:45am
I think FPA is reliable in the way of scam investigations and their investigation results can be taken into consideration. But if we talk about broker reviews, they do not check the facts on reviews. So you, me, anybody of us, can write any review about any broker there without representing proofs.
  • #115
  • Feb 28, 2013 6:19pm Feb 28, 2013 6:19pm
Quoting Tarusmark27
I want to suggest you for AVAFX. It is a regulated broker.

Suggestion: Before moving to any broker read their money withdrawal term and condition carefully. You also can launch a complaint against your previous broker if it is regulated with any financial institution.
no, would not recommend avafx. heard a lot of complains regarding the execution speed once switched over to live accounts. not sure how many servers they have to handle trades, but not enough as it seems and also far away meaning long execution times.
  • #116
  • Edited 7:24pm Mar 5, 2013 6:14pm | Edited 7:24pm
Tradestation
  • #117
  • Mar 6, 2013 12:52pm Mar 6, 2013 12:52pm
Quoting Dad
Tradestation
Are you sure? Why?
No longer trading forex. Looking for full time job.
  • #118
  • Mar 8, 2013 4:58am Mar 8, 2013 4:58am
Everyone is asking the wrong question, the real question is with the trader. What is my trading strategy?? Only when you understand can you narrow down your search.

The questions asked here are like this "I passed my driving test, shall I buy a Bentley or a used opel corsa (1994 Model)?" - What is your budget and how will you drive it is the question you should ask your self.

My advise is, if you are a leisure trader and want bonuses, take a market maker that will make money from your losses. Your trading will not be affect.

If you are a profitable scalper, or a trader that uses some sort of profitable EA, then you HAVE to use a ECN or STP broker with the right technical structure for you. Make sure the execution is fast, your stops are tight and the policy supports your strategy.

hope I help?
  • #119
  • Mar 8, 2013 8:54am Mar 8, 2013 8:54am
Try LMAX.
Tight spreads,FSA regulated.I am happy with them.
  • #120
  • Mar 8, 2013 9:31am Mar 8, 2013 9:31am
Quoting timos
Try LMAX.
Tight spreads,FSA regulated.I am happy with them.
+1
I'm not insane; my mother had me tested.
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