I am really got sick when reading the Forex brokers review on the internet. If I consider all the reviews, I shouldn't trade in forex. At last, I decided to open Pepperstone account. Does anyone have bad experience with them?
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Disliked{quote} You can use several different platforms that also allow you to use automated strategies, e.g Multicharts and Ninja Trader. With regard to hedging, I don't know for sure. I heard that it is not allowed in the US ( it never made sense to me anyway). Yes, commissions are lower, this is because in the futures industry there is much more competition and inovation than in the FX business, imho.Ignored
DislikedI am really got sick when reading the Forex brokers review on the internet. If I consider all the reviews, I shouldn't trade in forex. At last, I decided to open Pepperstone account. Does anyone have bad experience with them?Ignored
DislikedLmfx, Has what most US traders are looking for decent leverage up to 1: 1000,spread is 1.2-1.6 usually.And decent customer support.But the bonus structure is like no other broker I've traded with.The leverage of course being the most attractive feature for newbies,but be aware that there bonus scheme is where they get you.Here's how there setup works,if you take the 100% bonus you don't really have the 1:1000 leverage, that's a smoke screen.You technically have the leverage but if your negative trades are more than the bonus,(not your total equity)then...Ignored
Disliked{quote} Forget about all unregulated brokers, because you can lose all your money. https://www.100forexbrokers.com/fx/broker_results.php This is good browser, just select "regulation" - "is regulated" and "US clients accepted" - "yes". Unfortunately it's really hard to recommend any broker that is located in USA, because their trading costs are too big or they provide Market Maker model or brokers was fined for cheating clients. You can check this broker, check conditions on demo account http://www.fastbrokers.com/en_us/forex/fxexecution.php...Ignored
QuoteDislikedNot all regulated brokers are honest and not all unregulated brokers are crooks.
DislikedI just want to add something here, following a bit in the footsteps of pipmaster77; {quote} Over zealous regulation can actually restrict a broker and thus worsen the trading conditions for the end client. While the EU does have compensation schemes, they are not a guarantee of recovery, and the US, AU, and HK/SG don't even offer this service. The one GOOD thing about regulation is oversight. However even with oversight a crook is still a crook, just a more 'professional' crook. Obviously I run, what is considered to be, an 'unregulated' broker,...Ignored
DislikedSomeone, somewhere, really needs to create a more all-encompassing indemnity style insurance for FX brokers. Something that can provide protection over and above the FCA 50k GBP limit, to brokers and their clients who meet certain criteria. This is the only real hardcore benefit of a regulatory body.Ignored
Disliked@lasty Well, it's not going to get better, that is for sure, history has been very clear on that point. Tightening regulations do not help profitable traders. Regulators do not understand that limiting access to leverage, hedging, deposit options, etc., does not limit risk, as newbies will always loose money; what it does is limit more experienced traders from having the flexibility needed to trade out of risk.Ignored