And this is EXACTLY why Forex traders fail...honestly, everyone needs to accept the reality of this game. There are plenty of reputable brokers on this board, however everyone's definition of reputable seems to be a little different.
When I think reputable, the only thing I ask for is a good trading platform, a reliable server to connect to, a way to deposit and withdraw my money easily (without charge or penalty), and the ability to get in and out of trades. Customer service is only icing on the cake...
However, seriously...I see so many single instances of a few trades going bad and the first thing I see people do is rush to the forums to bitch. This is why Merlin and crew hate bitching about brokers...it's serves only paranoia. Statements like these are a result of broker bitching.
Sure people are just venting...but guess what...EVERY broker is going to generate a losing trade for you at one point.
I think what I see 95% of the time are people projecting their anger in themselves onto their broker. "I would have made a profit if I didn't get slippage...damn broker" or "Ugh, the price went crazy during news release and I couldn't get out of the trade" or "man, my stop was hit down to the pip".
Look, sure there are bad apples. Sure there is stop hunting. Sure there is slippage. But this IS the reality of Forex. It isn't equities or futures, friends. Regulation is at a minimum. Accept the inevitable probability that you will get into a bad trade and that obviously if you didn't get slipped or your stop didn't get hit, then you would have made money.
Tell you what...If I had bought the GBP/USD at the beginning of 2001, I'd have about $10 million in the bank...and nary a draw-down. That's probably because my broker told me it was a bad idea...broker's fault? yeah...sure...
Come on...brokers are going to slip you, they're gonna stop you, they'll even trade against you...but that's the reality of the game...play by the rules or leave.
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