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The search for a good broker

  • #141
  • Aug 8, 2016 9:36am Aug 8, 2016 9:36am
This is all very informative, thank you very much. I have been doing demo for awhile but have only been using scalping which I don't think is very realistic for a small money investor.
  • #142
  • Aug 8, 2016 1:42pm Aug 8, 2016 1:42pm
LuckyD first of all I would like to thank you for your post and recommendation that’s very helpful. Anyway I would like to know whether in the period of cooperation with your broker some contentious issues such as your application did not work? As you wrote you trade with your broker for 4 months already, so you may be traded during Brexit, was everything okay with that?
  • #143
  • Aug 9, 2016 2:31am Aug 9, 2016 2:31am
Quoting Malphorix
This is all very informative, thank you very much. I have been doing demo for awhile but have only been using scalping which I don't think is very realistic for a small money investor.

On demo account you can check only spreads, there are no slippages and execution is lightning fast
  • #144
  • Aug 9, 2016 2:39am Aug 9, 2016 2:39am
Quoting Collosus
LuckyD first of all I would like to thank you for your post and recommendation thats very helpful. Anyway I would like to know whether in the period of cooperation with your broker some contentious issues such as your application did not work? As you wrote you trade with your broker for 4 months already, so you may be traded during Brexit, was everything okay with that?

To be honest, it can't be ok during such big event as Brexit, spread on GBPUSD could be over 100 pips for a while, slippage more than 300 pips also could happen. There is absolutely no liquidity, so everything can happen. I don't know if it was one tick move, but there was 500 pips move on 1 min candle. I don't think 500 pips slippage is good for you It's simple, if you normally use big leverage, always stay away from market when big news are coming, because you can lose for example money 50 bigger than your account
  • #145
  • Aug 9, 2016 5:58am Aug 9, 2016 5:58am
Quoting Collosus
LuckyD first of all I would like to thank you for your post and recommendation thats very helpful. Anyway I would like to know whether in the period of cooperation with your broker some contentious issues such as your application did not work? As you wrote you trade with your broker for 4 months already, so you may be traded during Brexit, was everything okay with that?
Well, I trade on Fixed and everything was rather well. of course, such big event influenced on broker: many currency pairs were switched to "close only" mode and opening of new positions were temporary unavailable. Margin collateral was reduced 1:50. Also there was a notification about possible slippage, but I didn't have any problems. All these changes were during the period 20-28 of june.
  • #146
  • Aug 13, 2016 11:28am Aug 13, 2016 11:28am
Well I never thought that after all, there is any perfect broker with whom everything goes smoothly and perfect. Especially during such a huge events around which concentrates such numerous amount of commercial applications and bids. But I have to find the closest one to ideal. Anyway could you make clearer and tell more about what it means to trade on Fixed exactly?
  • #147
  • Aug 13, 2016 1:54pm Aug 13, 2016 1:54pm
Quoting Collosus
Well I never thought that after all, there is any perfect broker with whom everything goes smoothly and perfect. Especially during such a huge events around which concentrates such numerous amount of commercial applications and bids. But I have to find the closest one to ideal. Anyway could you make clearer and tell more about what it means to trade on Fixed exactly?
Fixed account means that there is a fixed spread. It doesn't changes on news and starts from 2 points (on EUR/USD, EUR/GBP pairs). Fixed account is good for automated trading
  • #148
  • Aug 14, 2016 4:59am Aug 14, 2016 4:59am
LuckyD
excuse me but what do you mean when you say automated trading. Is that means that you have some computer soft that makes trading instead of yourself based on your settings? Or you just making bids relying on your own forecasts? Do you mind to tell more in detail about that issue?
  • #149
  • Aug 14, 2016 6:21am Aug 14, 2016 6:21am
I never see it talked about but anyway. I'm far from opening a brokerage account to go live with, I have only recently started demoing. is TDAmeritrade a good place too open an account? I know they offer Forex and also ThinkOrSwim. All opinions are welcome I'm just starting too look early so at the point i'm ready to go live I am ready in every aspect to go live.
  • #150
  • Aug 14, 2016 6:47am Aug 14, 2016 6:47am
Hello everyone, found this..

Belgium one-ups France, bans all leveraged Forex, CFD and binary options trading

"Both the French ad ban, and the Belgium advertising-and-trading ban, are apparently the result of increased complaints being made over the past year by retail traders in both countries to their respective country regulators. The complaints have centered on two main issues – aggressive marketing of leveraged products (especially by binary options brokers), and outright fraud, such as the inability of traders to withdraw money from their accounts at many brokers."
  • #151
  • Aug 14, 2016 1:39pm Aug 14, 2016 1:39pm
Quoting Karpa
Hello everyone, found this.. Belgium one-ups France, bans all leveraged Forex, CFD and binary options trading "Both the French ad ban, and the Belgium advertising-and-trading ban, are apparently the result of increased complaints being made over the past year by retail traders in both countries to their respective country regulators. The complaints have centered on two main issues aggressive marketing of leveraged products...
So annoying how people who lose money and can't see it's their fault exist.. and they try and ruin it for the rest of us.
  • #152
  • Aug 14, 2016 3:43pm Aug 14, 2016 3:43pm
Quoting Subliminal
{quote} So annoying how people who lose money and can't see it's their fault exist.. and they try and ruin it for the rest of us.
Hello Subliminal, thanks for reading.

English is not my native language and my interpretation of the article is that there are retail traders that are not able to withdraw their profits from certain brokers.

Sadly we (retail traders) will only know to have this problem after having traded for some time and built up the account.

I think my above post is in the correct thread and we should pick a broker with extra care, this was an alert, take it with a grain of salt.

Regards
  • #153
  • Aug 14, 2016 5:05pm Aug 14, 2016 5:05pm
Quoting Karpa
{quote} Hello Subliminal, thanks for reading. English is not my native language and my interpretation of the article is that there are retail traders that are not able to withdraw their profits from certain brokers. Sadly we (retail traders) will only know to have this problem after having traded for some time and built up the account. I think my above post is in the correct thread and we should pick a broker with extra care, this was an alert, take it with a grain of salt. Regards
Thanks for further explaining Karpa. I'm not ready too pick a broker yet however I will definitely steer clear of shady brokerages.
  • #154
  • Aug 16, 2016 11:38am Aug 16, 2016 11:38am
Quoting Collosus
LuckyD excuse me but what do you mean when you say automated trading. Is that means that you have some computer soft that makes trading instead of yourself based on your settings? Or you just making bids relying on your own forecasts? Do you mind to tell more in detail about that issue?
Collosus, yes, you are right. I put some settings according to my strategy and the robo trader works)
  • #155
  • Aug 20, 2016 3:57pm Aug 20, 2016 3:57pm
LuckyD, could you tell me, please, is there an opportunity that MetaTrader 4 offers or you are using some other platform for trading? Or maybe you are treated to some private company or a programmer who wrote you a specific program by your technical project?
  • #156
  • Aug 21, 2016 9:35am Aug 21, 2016 9:35am
As I always say, the most important thing in a broker is how quick and easy the withdrawal process is.

I had no problem making big withdrawals from these 3 brokers : exness, hotforex and XM

http://photoshar.in/my-18000-XM-withdrawal

Hope this helps!
  • #157
  • Aug 22, 2016 8:59am Aug 22, 2016 8:59am
Hello, I really recommend First Rate FX. I use them all the time and they are very trustworthy and reliable.
  • #158
  • Aug 29, 2016 4:10am Aug 29, 2016 4:10am
In my case, I've heard many experiences from other traders. When they gave advice to me, they always told me NOT TO CONSIDER COMMISSION when you choose broker. It depends on person, but I agree in some parts. Because if the broker offers cheap commission, they will serve a little poor service to the clients.
I've traded few times, but still a beginner, and I learned that highly customized service was the best for the clients. So I'm looking for some brokers who are offering
free education for FOREX. I know few website did, but it was quite difficult for me. I want recommendations.
  • #159
  • Aug 29, 2016 4:51am Aug 29, 2016 4:51am
i have experience alot with many brokers and many times success of traders lies on the hand of broker, broker can add to your success and as well add to your losses in forex market, do you know why ?
  • #160
  • Aug 29, 2016 7:17am Aug 29, 2016 7:17am
I recommend to skip Cypriot brokers who provide large bonuses.
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