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Better execution in tiny, no-name Brokers? 4 replies

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Name major brokers for professional traders!

As per some of the other comments - you are doing potential damage to newbies or people looking to change broker putting most of these brokers in a list of 'good brokers' - even if you are only saying they are major, major in this case definitely does not equal good, it just means they are ripping huge amounts of people off! From a UK perspective there's no way FXCM, Alpari or IG Markets should be part of any such list (for many reasons but for a start they are market makers) and probably a number of the others.
Quoting Abcxyz77
You should choose prime brokers, inter brokers, and big banks For example trade with biggest bank in the USA, JPmorgan https://www.jpmorgan.com/pages/jpmorgan/au/cib/ts/fx Of course they require minimum deposit at least 1 million dollars or more
$1 million ? try $10 million and the leverage will be around 25:1

Reputable brokers have access to institutional platforms (Interbank)

They allow some clients to use their prime broker with a better leverage offered than a Prime Broker.
The broker already has arrangements in place so there is no need to do the leg work with sorting a Prime broker and then an Interbank platform.
Most Interbank platforms don't have back office or margin capabilities but the broker has these in place with integrated software.
i hear good things about mb trading
Quoting lasty
{quote} $1 million ? try $10 million and the leverage will be around 25:1 Reputable brokers have access to institutional platforms (Interbank) They allow some clients to use their prime broker with a better leverage offered than a Prime Broker. The broker already has arrangements in place so there is no need to do the leg work with sorting a Prime broker and then an Interbank platform. Most Interbank platforms don't have back office or margin capabilities but the broker has these in place with integrated software.
If i have one or ten million cash why i will be trading this market .give me just one reason logical one
focus while relaxed to see better
Quoting orabi
{quote} If i have one or ten million cash why i will be trading this market .give me just one reason logical one
Maybe you want two or twenty million instead
Quoting teddybomber
{quote} Maybe you want two or twenty million instead
Why should i risk such amount in this market i am already fainting from the idea and i defenatly will have a heart attack from day one the time i loss control over such amount transfaring it through bank .to the broker .
As i say always i can live with 10 cent if i could i enjoy this market thats all
focus while relaxed to see better
Quoting orabi
{quote} Why should i risk such amount in this market i am already fainting from the idea and i defenatly will have a heart attack from day one the time i loss control over such amount transfaring it through bank .to the broker . As i say always i can live with 10 cent if i could i enjoy this market thats all
The guy is asking about professional traders, there are people with big amount of money trade for living. Also all banks in the world trade forex too, they have a department for Forex, one employee is given 1-20 million dollars account and trade.
Quoting teddybomber
{quote} Maybe you want two or twenty million instead
Quoting teddybomber
{quote} Maybe you want two or twenty million instead
Quoting messiah01
they are market makers
FXCM offers traders No Dealing Desk (NDD) forex execution. That means each client order is offset one-for-one with the best prices from 10+ competing liquidity providers: http://www.forexfactory.com/brokers.php#spreads

Since we don't take the market risk on the other side of your trades, FXCM doesn't profit from your losses or lose from your profits. Instead, we make our money from your trading volume. This aligns our interests with yours, so we want you to have a long and successful trading career.
Quoting society
i hear good things about mb trading
If you are from Canada, you are out. For some very strange reasons, MB Trading absolutely refuses to do business in Canada. Maybe because Canadian traders are just too good, haha and they can't make money off us!
Make your losses in demo. Earn your profits live.
Currenex if u are serious about trading
Quoting Jason Rogers
{quote} FXCM offers traders No Dealing Desk (NDD) forex execution. That means each client order is offset one-for-one with the best prices from 10+ competing liquidity providers: http://www.forexfactory.com/brokers.php#spreads Since we don't take the market risk on the other side of your trades, FXCM doesn't profit from your losses or lose from your profits. Instead, we make our money from your trading volume. This aligns our interests with yours, so we want you to have a long and successful trading career.
Yeah your NDD is really trustworthy... regulators fine FXCM £2m exactly for not giving people the best quotes on your No Dealing Desk.
http://forexmagnates.com/nfa-fines-f...-clients-back/
Also reports of you trying to keep £6m of money that should be your clients
https://uk.finance.yahoo.com/news/fx...115358055.html

I did say "for many reasons" - in FXCM's case you can add endless reports of ripping people off (see over this forum and forexpeacearmy.com), proven complete dishonesty + trying any hustle they can and MULTIPLE lawsuits and fines from regulators (search for them all). With the company's track record I don't see why anyone should believe a word you say.

Before choosing a broker do a lot of research people.
Quoting messiah01
{quote} Yeah your NDD is really trustworthy... regulators fine FXCM £2m exactly for not giving people the best quotes on your No Dealing Desk. http://forexmagnates.com/nfa-fines-f...-clients-back/ Also reports of you trying to keep £6m of money that should be your clients https://uk.finance.yahoo.com/news/fx...115358055.html...
how's that all those reviews are sending traders nowhere close to civilization, if you know what i mean? fxcm is good in my experience. p.s. jpmorgan, ubs, deutsche, etc have paid more fines than fxcm (and more often) for rigging the markets, etc. and they are still considered trustworthy! :-)
Quoting hatzius
{quote} how's that all those reviews are sending traders nowhere close to civilization, if you know what i mean? fxcm is good in my experience. p.s. jpmorgan, ubs, deutsche, etc have paid more fines than fxcm (and more often) for rigging the markets, etc. and they are still considered trustworthy! :-)
People seem to forget this.
UBS was fined $660 million and they are still considered a trustworthy bank.
  • Post #36
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  • Edited 9:34am Dec 22, 2014 7:32am | Edited 9:34am
Quoting hatzius
{quote} how's that all those reviews are sending traders nowhere close to civilization, if you know what i mean? fxcm is good in my experience. p.s. jpmorgan, ubs, deutsche, etc have paid more fines than fxcm (and more often) for rigging the markets, etc. and they are still considered trustworthy! :-)
This is hilarious - A user that joined in Nov 2014 and who's only other posts are saying how great FXCM is haha!! At least make your propaganda half-way believable.

And you have no point, so it's ok that FXCM has ripped a load of it's clients off because there are other (mostly unrelated to forex) frauds committed by some big banks? - great logic... I've got an idea, why not just use a trustworthy broker.
Quoting messiah01
{quote} This is hilarious - A user that joined in Nov 2014 and who's only other posts are saying how great FXCM is haha!! At least make your propaganda half-way believable. And you have no point, so it's ok that FXCM has ripped a load of it's clients off because there are other (mostly unrelated to forex) frauds committed by some big banks? - great logic... I've got an idea, why not just use a trustworthy broker.
sorry dude if i made you suspicious! don't have to be! the only reason i use ff is to have a link to what others say/complain about fxcm (which is the broker that i use). i'm not here to absorb or share knowledge. basically, if you don't agree with what i said (that there's no trustworthy broker from a-z), just ignore me! it's that easy! thanks anyway for background checking my profile :-)
Quoting mitch77
{quote} People seem to forget this. UBS was fined $660 million and they are still considered a trustworthy bank.
mitch, here's a link to some (not so) recent article:http://www.bloomberg.com/news/2014-1...on-probe.htmli agree with messiah01 that my argument might have been flawed. but i disagree that one should play the innocent in this environment. it's the cftc & nfa role to play the moralist here. looking for a honest broker and having the liquidity providers rigging the market is... such... a great achievement!
How about Fxpro, is it good broker?
Quoting sonata95
How about Fxpro, is it good broker?
no
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