Moving away from my broker - Suggestions please | Forex Factory

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Moving away from my broker - Suggestions please

  • #1
  • First Post: Nov 15, 2015 5:48am Nov 15, 2015 5:48am
Hello everyone.
Am with XM for some months now. Am not a good trader and I have made 1800-1900EUR loss till now.
After reading some horror reviews about them am afraid that IF I make some profit when I start to take the profit off they will suspend me like they did to others (reviews on many websites).
Am looking for a trusted broker, am sure that till I learn will louse some more EUR's but I want to be sure when I ask for withdraw to not have any problems.
Am not using any illegal methods like arbitrage or letency etc.. Am a honest looser and want to louse my money to the one who is hones.
Please, the users that joined 1-2 months ago please do not suggest anyone, am looking for suggestions from members that are in this business for a long time.

Thank you.
  • #3
  • Dec 7, 2015 10:04am Dec 7, 2015 10:04am
Quoting tejli007
Hello everyone. Am with XM for some months now. Am not a good trader and I have made 1800-1900EUR loss till now. After reading some horror reviews about them am afraid that IF I make some profit when I start to take the profit off they will suspend me like they did to others (reviews on many websites). Am looking for a trusted broker, am sure that till I learn will louse some more EUR's but I want to be sure when I ask for withdraw to not have any problems. Am not using any illegal methods like arbitrage or letency etc.. Am a honest looser and want...

Its best if you move to ECN Broker than a MM like XM they can quote any nonsense and forfeit your profits also their spreads will kill your account . I am trading with Activtrades for a while now without any problem , but choose a leverage of 200 or lower .

Also I have too traded with them , you see the difference between them and ECN , once you move to a good ECN Broker .

Good Luck .
  • #4
  • Dec 7, 2015 10:15am Dec 7, 2015 10:15am
Try brokers in http://www.forexfactory.com/brokers.php as a way to repay for this community. There are many good choices.
  • #5
  • Dec 8, 2015 11:27am Dec 8, 2015 11:27am
I am also looking for other good ENC broker in the US.
Love to hear from experienced traders. Can someone from the US use a UK broker ?
  • #6
  • Dec 9, 2015 5:48am Dec 9, 2015 5:48am
Quoting tejli007
Hello everyone. Am with XM for some months now. Am not a good trader and I have made 1800-1900EUR loss till now. After reading some horror reviews about them am afraid that IF I make some profit when I start to take the profit off they will suspend me like they did to others (reviews on many websites). Am looking for a trusted broker, am sure that till I learn will louse some more EUR's but I want to be sure when I ask for withdraw to not have any problems. Am not using any illegal methods like arbitrage or letency etc.. Am a honest looser and want...
You made 2K profit or loss them? A bit confusing.
Well the problems with big withdrawals can occur if broker traders against you (act as your counterparty). It means your losses are their profits and vice versa. In case you make too much profit consistently broker may find you a pain in the ass and do their best to drive you accounts to zero. Try to use some well known brokers like Hotforex or FXCM its not likely they go bust as they're top leaders in the industry (in my view). But pay attention to trading conditions as its prerequisite to make profit from trading.
  • #7
  • Dec 9, 2015 7:18am Dec 9, 2015 7:18am
definitely move away from your broker if he is a market maker,
you should use a ECN if you want to trade freely without interference and manipulations.
I can suggest 2 ECN's I have live accounts with,
Key to markets and Divisa Capital,

if you have lost that much already, you should trade only on demo until you can handle your emmotions.
and you can follow the rules of your trading method without wandering off. I been there
Bulls are stupid Animals!especially when Im short!
  • #8
  • Dec 10, 2015 4:54am Dec 10, 2015 4:54am
Demo will not help to handle emotions.
Emotions you can train only at live account. There is no other way unfortunately.
  • #10
  • Dec 28, 2015 6:39am Dec 28, 2015 6:39am
I would ask all of you for a big help.

A friend of mine tried to open Trading Account with broker I've been trading for some years now and did not have any complains. I have Business Introducer programme, and this client was reffering to me as Businee Introducer while openning account.

However, his request was rejected and he is now searching for a new broker. His inital deposit would be of around 100.000 EUR. What is most important for him are relatively tight spreads, reliable platform, regulation and no problems with withdrawal of funds.

Since he would probably trade with large amounts I would actually like to gain some profit as a Business Introducer of his (since profit for BI is based on amount traded), so I would also switch to a broker that offers this possibility for private, non-professional or licenced traders.

Could you recommed broker that is reliable, no-problems with withdrawal, offers tight spreads and has BI programme for private traders.

Thank you very much in advance.
  • #11
  • Dec 28, 2015 7:10am Dec 28, 2015 7:10am
Quoting tejli007
Hello everyone. Am with XM for some months now. Am not a good trader and I have made 1800-1900EUR loss till now. After reading some horror reviews about them am afraid that IF I make some profit when I start to take the profit off they will suspend me like they did to others (reviews on many websites). Am looking for a trusted broker, am sure that till I learn will louse some more EUR's but I want to be sure when I ask for withdraw to not have any problems. Am not using any illegal methods like arbitrage or letency etc.. Am a honest looser and want...
I have traded with XM for about a year now. During that time I have also used a number of other brokers. I can vouch that XM do seem honest; I haven't noticed any stop hunting or any other dubious tactics nor any problems with withdrawals. Their only drawback is their spreads are rather high, but you can see that straight away for yourself.

Yes, XM are a MM so supposedly trade against you... but I have used ECN brokers who blatantly stop hunt, so I take all that with a pinch of salt.
  • #12
  • Dec 29, 2015 8:42am Dec 29, 2015 8:42am
Most of the time bad spikes comes from LP, had 2-3 of times with Hotforex when candlestick tails triggered my SL's which was far enough, but inquiry to their support fixed the issue, I was reimbursed, seems fair for me.
  • #13
  • Dec 31, 2015 8:28am Dec 31, 2015 8:28am
Are you serious in what you wrote? I hope it’s not any hangover from that much loss. I mean how can you say that they are bad? I believe we should never comment like that unless we are certain. I am working with TradeWiseFx broker, I will suggest you this as there is no trouble over withdrawal and i really hope you don’t lose, as losing is never fun thing.
  • #14
  • Last Post: Jan 4, 2016 1:47am Jan 4, 2016 1:47am
I can say much about MM brokers, but the trend does point out that MM brokers do contain the possibilities of big profits, pocket change is ok but bigger profits ends up with lots of haggling. this is only based on what i read and i did avoid MM broker, I would stick to STP or ECN, well no broker is perfect but i do earn, small or big it still pushes through.
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