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Is my broker stealing from me

  • #21
  • May 27, 2014 5:24am May 27, 2014 5:24am
If you are concerned with market manipulation you should trade the futures market instead.
  • #22
  • May 27, 2014 5:50am May 27, 2014 5:50am
Typical broker manipulating prices to hunt clients stop losses. Why choose that broker when there are many better ones.
Reuters Gold price close was 1292, that's the Real price.
  • #23
  • May 27, 2014 9:39am May 27, 2014 9:39am
Quoting Sun-Trader
why do you guys use such shady brokers? trading is already stressful for newbies and again u add up stress by using shady brokers.
Why assume every one is a newbie? As an ex bank trader now full time retailer I await your advice on what to trade and who with. Can't wait. If you find this game stressful do something else - can give a few suggestions.
  • #24
  • May 27, 2014 10:04am May 27, 2014 10:04am
Quoting claudia1
{quote} Why assume every one is a newbie? As an ex bank trader now full time retailer I await your advice on what to trade and who with. Can't wait. If you find this game stressful do something else - can give a few suggestions.
ex bank trader now full timer trading with STP broker? really?
Team Trader
  • #25
  • May 27, 2014 9:30pm May 27, 2014 9:30pm
Quoting claudia1
{quote} Why assume every one is a newbie? As an ex bank trader now full time retailer I await your advice on what to trade and who with. Can't wait. If you find this game stressful do something else - can give a few suggestions.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #26
  • May 27, 2014 10:16pm May 27, 2014 10:16pm
Quoting Sun-Trader
{quote} ex bank trader now full timer trading with STP broker? really?
Really. And guess why?All gains are tax free that way in the uk. Suggest any better ways? Hey Magix.
  • #27
  • May 27, 2014 11:37pm May 27, 2014 11:37pm
Quoting claudia1
{quote} Really. And guess why?All gains are tax free that way in the uk. Suggest any better ways? Hey Magix.
so if you use ECN broker you will have to pay tax?
Team Trader
  • #28
  • May 28, 2014 12:52am May 28, 2014 12:52am
Hi All, as lukpayat said it all depends where the broker has his feed plugged in. If he uses ECN Technology to aggregate prices, and the Brokers Markup. Unfortunately, when it is a thin or volatile market, things like this happen.

Often in low liquidity markets you will get volatility traders that come out and play with the markets, this happens before major news announcements and during bank holidays. These traders go after stops and play with the books. If anyone has access to a futures order book during these announcements, you will see how they play with orders and stops.
Be weary when trading in low liquidity and fast markets.
  • #29
  • May 28, 2014 6:22am May 28, 2014 6:22am
Quoting Sun-Trader
{quote} so if you use ECN broker you will have to pay tax?
Yep. Basically spread betting in UK is tax free at the moment. Silly not to take advantage of it makes sense to me. As you know with these 'brokers' your money never goes near the real market. Simply you fighting a market maker who can make any price up they want hence the spikes we saw - someone trying to balance the books at the end of the day. If it wasn't for the tax thing I'd be trading futures - spot is a game but as long as you know that then it's fine. Unfortunately a lot on this forum don't get it. Have great day.
  • #30
  • May 28, 2014 8:23am May 28, 2014 8:23am
Quoting claudia1
{quote} Yep. Basically spread betting in UK is tax free at the moment. Silly not to take advantage of it makes sense to me. As you know with these 'brokers' your money never goes near the real market. Simply you fighting a market maker who can make any price up they want hence the spikes we saw - someone trying to balance the books at the end of the day. If it wasn't for the tax thing I'd be trading futures - spot is a game but as long as you know that then it's fine. Unfortunately a lot on this forum don't get it. Have great day.
Claudia can i ask you question.
Let say a person is only spreadbetting (in UK) and only making living from it. How is health insurance is taken care. And other social benefits. Can he/she get those benefits, (if did not work in other jobs before.) Just curious.

Thank you for answer
  • #31
  • May 28, 2014 8:38am May 28, 2014 8:38am
Quoting RabbitWolf
{quote} Claudia can i ask you question. Let say a person is only spreadbetting (in UK) and only making living from it. How is health insurance is taken care. And other social benefits. Can he/she get those benefits, (if did not work in other jobs before.) Just curious. Thank you for answer
Hi Rabbit

Interesting question. If you spread bet and do nothing else the tax people can classify you as a professional gambler, at which point any gains you make can become taxable.

Health and social benefits are state funded. If you did not work here before you would get free medical treatment plus benefits. Hence the huge influx of immigrants from Eastern Europe into the UK.

Crazy system.
  • #32
  • Last Post: May 29, 2014 8:52am May 29, 2014 8:52am
OANDA is definitely using some type of a virus to slow the internet connection when it is close to profit taking point .I usually go for 0.1 to 1.9 pips after a up or down move of 30 to 100 on any pair .When it is minus 1 pips to get even , everything slows down when other pairs are moving up or down 2 to 3 pips mine just dont show profit right away . I ve recently upgraded to super fast internet and finally caught OANDA on action not even once but over 50 times because instead of the connection on my desktop slowing down oanda platform crashes for a minute while everything else works super fast and when i check my ipad it is already very close to profit where i can close manually .I dont think this is conspiracy if it was once maybe but over 50 times is not a coincidence .I am going to record this ,sometimes i go for $100 to $400 a pip and and cash out when it is only 0.5 pips manually I am not even mentioning the spread widening
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