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Reality of FOREX: my experience with brokers + share yours

  • #301
  • Sep 7, 2016 4:15am Sep 7, 2016 4:15am
Quoting leebsurag
{quote} What is the regulator of Dukascopy Europe?? Probably CySec, thats why there is so much difference from their Swiss branch
Dukascopy Europe is probably regulated by FCMC - FKTK - regulator in Latvia - from what I've heard Dukascopy Bank are running the same people with only some lawyers in Switzerland who are keeping the Swiss banking license.
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  • #302
  • Sep 7, 2016 4:21am Sep 7, 2016 4:21am
Quoting piupiu
{quote} Hello Alex With respect to all information that you shared with us, I am grateful. Just my real experience on the: HotForex (my experience is different from yours, I'm there since they started, always paid me, have types of accounts for all tastes) Lmax (the Asian period is startled to see the high spreads practicing "abnormal before all competing offers" Excellent trades for all of us,
Hello, I am happy to hear that you have no issues so far with HotForex. However, Hotforex execution of orders is a very poor-quality. Here is some thread about HotForex at FF.

By the way if I mark brokers to be avoided, then it doesn't mean that the brokers will not pay you - I consider brokers to be bad (and rather avoided) if they simply cheat traders in slippages, spread widening, platform freezing or offering suspicious services.
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  • #303
  • Sep 7, 2016 4:24am Sep 7, 2016 4:24am
Quoting TradingLife
{quote} As already mentioned here, it's definitely better to go with Dukascopy Switzerland, but I would be pretty cautious with Dukas as they offer binary options and deposit bonuses. If you will take a look over this thread at brokers with bad experience, these brokers usually offer deposit bonuses and similar offers . From what I've heard when I was talking with traders they usually choose Swissquote rather than Dukas. I personally chose Swissquote too due to the binary options / deposit bonuses of Dukas. Here...
Don't forget to mention refreshment part I like Dukascopy and Instaforex becoz both of these firm Have Beauty Contest but unfortunately most of participants ( Disclaimer:- I don't trade either with these two brokers)
belongs to Soviet Union in both brokers I requested them to bring other beauty pageants but guess will take some more time.
https://www.dukascopy.com/fxcomm/mis...st&language=en
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Never Gamble Forex
  • #304
  • Sep 7, 2016 4:26am Sep 7, 2016 4:26am
Quoting insomniawawa
{quote} Not really, because all my trades are copied from account where I trade only 0,01 lot, so I see the difference between this 0,01 lot execution and 10 lots for example The only problem is that copying EA has 0,5 sec delay:/ However, all stop loss orders and take profit can be compared perfectly
Ok, I understand - you are right - with 0,01 lot there should not be much of slippage, but in higher volumes there will be probably more difference.
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  • #305
  • Sep 7, 2016 4:29am Sep 7, 2016 4:29am
Quoting 4EverMaAT
{quote} Yes, this is definitely more than 'odd'. Very stressful when a broker you thought was legit does not pay out withdraw. I had a situation with an Australian bucketshop broker who did pay out after I got in contact with some industry contacts for them to pay. They thought waiting several days before processing withdraw requests was 'normal' behavior. The 2nd best thing to do is to generate an account statement locally immediately. Also take screenshots that clearly show the closed trade history and profit, along with the account balance/equity....
Thanks for posting this - there is more truth in your post than usual trader can imagine. Could you provide us here more information about the Australian broker that you were dealing with and be little bit more specific?
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  • #306
  • Sep 7, 2016 4:32am Sep 7, 2016 4:32am
Quoting yesyoucan
{quote} Don't forget to mention refreshment part I like Dukascopy and Instaforex becoz both of these firm Have Beauty Contest but unfortunately most of participants ( Disclaimer:- I don't trade either with these two brokers) belongs to Soviet Union in both brokers I requested them to bring other beauty pageants but guess will take some more time. https://www.dukascopy.com/fxcomm/mis...st&language=en {image} {image} {image}
I wonder if traders are rather watching the Miss Dukascopy pictures than placing orders with them
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  • #307
  • Sep 7, 2016 4:37am Sep 7, 2016 4:37am
Quoting TradingLife
{quote} I wonder if traders are rather watching the Miss Dukascopy pictures than placing orders with them
You know Trading is boring business, It's sort of Eye Management with Money management. We have to stay charged always . Thanks to Dukascopy.
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  • #308
  • Sep 7, 2016 4:58am Sep 7, 2016 4:58am
Quoting yesyoucan
{quote} You know Trading is boring business, It's sort of Eye Management with Money management. We have to stay charged always . Thanks to Dukascopy.
Yep, maybe they will offer a live chat with miss dukascopy for the most active traders
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  • #309
  • Sep 7, 2016 4:59am Sep 7, 2016 4:59am
Quoting galexandr
{quote} I traded with FXCM from 2005 until 2009. I experienced mountains of slippage, problems with freezing platform, especially when I was exiting a spike in my favor....this is just a few items...It is of no point to go on with a past list. What speaks mountains of an institution is the amount they are fined over their life. http://www.bing.com/search?q="FXCM"%2C+"Fines"&go=Search&qs=n&form=QBRE&pq="fxcm"%2C+"fines"&sc=4-15&sp=-1&sk=&cvid=9B2CFD98941F4665892F02B84C92109D I would like to know the total amount of fines over their business life,...

Question, how were you able to trade with LMAX when you are a US resident? I guess many are looking for good brokers out there. Oanda and FXCM are left, Im with Oanda, but may consider leaving them soon.
  • #310
  • Sep 7, 2016 4:59am Sep 7, 2016 4:59am
Plus500 and Alpari added to the first post.
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  • #311
  • Sep 7, 2016 5:23am Sep 7, 2016 5:23am
Quoting yesyoucan
{quote} Don't forget to mention refreshment part I like Dukascopy and Instaforex becoz both of these firm Have Beauty Contest but unfortunately most of participants ( Disclaimer:- I don't trade either with these two brokers) belongs to Soviet Union in both brokers I requested them to bring other beauty pageants but guess will take some more time. https://www.dukascopy.com/fxcomm/mis...st&language=en {image} {image} {image}

Hahaha, great reason to choose broker You can search for beauties whole internet Instaforex is one of the biggest scam!!!
  • #312
  • Sep 7, 2016 5:37am Sep 7, 2016 5:37am
Looks like my best bet if I want to buy facebook shares is FXpro then. They offer 10:1 leverage on them.
Doubt kills more dreams than failure ever will.
  • #313
  • Sep 7, 2016 6:38am Sep 7, 2016 6:38am
Quoting pcmaster
Looks like my best bet if I want to buy facebook shares is FXpro then. They offer 10:1 leverage on them.
Normally CFD is costlier than local exchange broker. You can take delivery if you trading locally regulated exchange. But if you trading future lot with same stock , minimum lot size can be higher and require good margin. So if you're looking to play future market stocks with low margin CFD is better option. Also CFD roll over charges higher unlike local exchange where you buy monthly contracts with fixed commissions for the entire period of contract and only margin is main concern.

Buy stock in local exchanges and same short in CFD brokers
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  • #314
  • Sep 7, 2016 8:57am Sep 7, 2016 8:57am
Quoting TradingLife
{quote} Well I personally don't consider xm to be a trustworthy broker - take a look at the first post. So it seems like FP markets has some different data feed, but so far you are satisfied with their orders execution / slippage / servers stability etc. - correct?

yes, execution from FP markets is slightly better. data feed being different is not so important...

XM is also a good broker.
  • #315
  • Sep 7, 2016 10:26pm Sep 7, 2016 10:26pm
Quoting TradingLife
{quote} Hello, I am happy to hear that you have no issues so far with HotForex. However, Hotforex execution of orders is a very poor-quality. Here is some thread about HotForex at FF. By the way if I mark brokers to be avoided, then it doesn't mean that the brokers will not pay you - I consider brokers to be bad (and rather avoided) if they simply cheat traders in slippages, spread widening, platform freezing or offering suspicious services.
Do you have personal expereince with them or you base your testimonial on third-party feedback? What I can tell about Hotforex is that it is solid and stable platform to run EA partciularly on their zero spread account, I have two accounts there with 1K and 5K deposits, first for EA tests, second for manual trading. Slippage does occur but not every second trade as it might have been claimed here, it all depends the style of trading (especially if you are a fan of momentum trading)
  • #316
  • Sep 8, 2016 5:56am Sep 8, 2016 5:56am
Quoting hunter101
{quote} Question, how were you able to trade with LMAX when you are a US resident? I guess many are looking for good brokers out there. Oanda and FXCM are left, Im with Oanda, but may consider leaving them soon.
Correct, LMAX is FCA regulated and shouldn't accept US residents. If you are a US resident, then it's pretty hard to find a good / reliable / serious broker. But if you are not, there are definitely better brokers out there.
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  • #317
  • Sep 8, 2016 6:00am Sep 8, 2016 6:00am
Quoting insomniawawa
{quote} Hahaha, great reason to choose broker You can search for beauties whole internet Instaforex is one of the biggest scam!!!
Yep, but it's probably better to not search for beauties while trading It's little weird connecting babes and fx trading - usually casinos do similar things.. definitely agree, insta are just scammers.
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  • #318
  • Sep 8, 2016 6:01am Sep 8, 2016 6:01am
Quoting pcmaster
Looks like my best bet if I want to buy facebook shares is FXpro then. They offer 10:1 leverage on them.
Does anyone here have some experience with FXpro? By the way if you will try them let us know your experience.
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  • #319
  • Sep 8, 2016 6:05am Sep 8, 2016 6:05am
Quoting yesyoucan
{quote} Normally CFD is costlier than local exchange broker. You can take delivery if you trading locally regulated exchange. But if you trading future lot with same stock , minimum lot size can be higher and require good margin. So if you're looking to play future market stocks with low margin CFD is better option. Also CFD roll over charges higher unlike local exchange where you buy monthly contracts with fixed commissions for the entire period of contract and only margin is main concern. Buy stock in local exchanges and same short in CFD brokers...
Interesting. If he would buy stock in local exchanges and same short in CFD brokers - then he would be just hedged, wouldn't he?
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  • #320
  • Sep 8, 2016 6:12am Sep 8, 2016 6:12am
Quoting demark1
{quote} yes, execution from FP markets is slightly better. data feed being different is not so important... XM is also a good broker.
Thanks for explaining further - I got it now.
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