Reality of FOREX: my experience with brokers + share yours

By the way I am sorry for not being so much active here - the last days were just extremely hectic for me, but I will try to contribute here as much as possible again!

Hello traders.First of all my gratitude to TradingLife for starting this thread and all thanks to all of you great traders for you valuable contributions to this thread...I am contemplating on opening an account with InstaForex and I need your honest opinions based on your personal experience trading live account with them..With this information I can decide whether to sign up with instaforex or not.Please no demo account experience.Only live experience.Thank you.

Better you DANCE with Swazi girls ...why in forex dude? It's pathetic business . If you're really from Swaziland then you definitely fun loving , yummy filled guy . Enjoy agriculture , be happy . Forex is rude business and Instaforex is scam broker. Try to open account with any FCA or ASIC regulated brokers. If you have very low capital you can try Agea( very small broker but consistent since 2005) . Have Fun.

Hi,

I would like to ask if any traders out there faced a problem where there were trades being executed in your trading account mysteriously? I found additional trades opened in the opposite direction in my trading account recently and it was very scary!

Anyone can help would be good.

Yes , very old and pathetic problem mostly from Russian operated bucket shops. Some brokers to name a few Instaforex, Youtradefx,IronFx, Liteforex, Casear Trade , sunbirdfx, ..not only that even fund stolen without permission happened in Instaforex earlier. Withdrawl problem ? Yeah too much.

Gosh! I was using a regulated broker in Australia though! Didn't think that would happen and my fund was just 50k to 200k.

Other than the Russian ones, anyone experience anything with UK, US or Australia side?

I see that my trades were closed early too. Seems like I have to constantly monitor my trades..

Bonus is my eyes will make I harder for you to profit and withdraw because of all the fine print into those bonus..companys cannot just givea 500bucks or more to every new client.. or in some case the platform will work against you on purpose to re-coup the bonus money! Bonus suck in noobies

Why do you want to open account with Instaforex? It's the biggest scam forex broker that exist!

Ig markets!!?? Any experience to share??
Good trades.

had a good concept on oanda but no longer. A few days ago I received an email of oanda. a broker can do this ... it is legal?

Dear (my name)

Please be advised that OANDA Europe Limited has made changes to our fxTrade Customer Agreement effective October 13th, 2016. If you have any questions about these changes, please see our Frequently Asked Questions.

The material change made to our client agreement is the addition of:

35) Inactive Accounts. You acknowledge that in the event there are no open Trades in your Account for a period of at least 24 months, OANDA may designate your Account as “inactive.” If you request to reactivate your Account, you agree to provide whatever information and execute such additional documentation as OANDA may reasonably require, and to be bound by the version of this Agreement in effect at such time. After such minimum 24-month inactivity period, OANDA may, without advance notice to you, charge your Account a monthly inactivity fee (the “Inactivity Fee”) for each month the Account remains inactive by debiting the Inactivity Fee from your Account. The monthly Inactivity Fee will be equal to the lesser of (i) 10.00 units of the currency in which your Account is denominated (with the exception of Accounts denominated in JPY and HKD, which will be charged 1000 JPY and 75 HKD respectively) or (ii) the remaining balance in your Account.

Please find the revised fxTrade Customer Agreement on the web site for full details regarding the changes.

If you wish to reject the changes under the revised agreement, you will have 10 business days effective from October 13th, 2016 to do so. If you do choose to reject the terms of the revised fxTrade Customer Agreement, you can do so by contacting our Customer Support Team. OANDA Europe Limited will complete all transactions under the existing terms of the Agreement that will permit you, the customer, to close your account without detriment or raising any charges for closure of the fxTrade account. If such notification is not received, you are deemed to accept the changes under the revised fxTrade Customer Agreement. Thank you for trading with us.

Kind Regards,
The OANDA Client Experience Team

my experience with fxcm broker very good he always on line and also solve the problem .

 
I was in GBPAUD trades. So on one and to on another were executed very well, no slippage, which is unusual for Oanda, since often they slip me 1 pip on each order, be it Sl or Tp. Surprisingly well. 

I am surprise that nobody speak of the ping of each broker to choose one, here a example.

The last 3 weeks i travel > China to Hong kong > Moscow > Greece > train in Greece > Moscow > Seoul > Hong kong > China.

I check the ping of 2 brokers on each city. except Moscow, no free wifi in airport if you don't have a local mobile phone :-(

first broker C7:

Second broker FXPRO.

To be honest , i do not even care what is a broker business models.
For ME, forex trading is we are trade the quotes.

If we are buy EURO/USD. where the Euro Goes?
I mean. come on. i only deposit few dollars in my trading account, and what i can expect?

My order can move the market? lol.

Sometimes it makes me laugh when an investor/trader. said something high and sophisticated when they talk about broker.
like we must trade with ECN/DMA broker, because they forward trader order into the market? what kind of market?lol.

fruit market?fish market?

We are retail trader, trade the OTC instruments, decentralized market. so do not expect too much
For me, a good broker is they provide great trading conditions and paid my WD fast.

Yeah I also think so. I read that its more a requirement from a regulator rather than advantage for clients

Seen lately ...Bogus orders also possible!

Read this !

http://www.reuters.com/article/us-fl...-idUSKBN12E196

Nice one! Only ...40mln?
I've got to learn more about bogus orders

Today I've received a reply from LMAX that my account has been approved and it's ready for funding. I'll let you guys know how it is going.
I'll trade through MT4 because LMAX platform doesn't have hedging function, also the amount of P/L is calculated in the cross currency not base currency or pips, which I found difficult to deal with, since I want a quick look to know how much I'm up or down in pips and USD (my account's base currency). So the only way to go is MT4.

Later I plan to open an account with Dukascopy Ch. I don't know much about Dukascopy EU, how safe is it?

I was looking at Swissquote, but the minimum trade units is 0.1, that' 10,000, after that increase by 1000 units is allowed. o it can be 0.11, 0.12, but not lower than 0.10. I need a broker with 0.01 a the starting amount. Dukascopy has it.

I decided not to go with ActivTrades, and generally avoid non-ECN brokers. Too many bad stories. It seems there is a fashion among them to cancel profits due to price latency, accusing trader for arbitrage. Scumbags.
In a meanwhile I'll still have 1 account with Oanda Asia-Pacific. Their overnight financing fees are low, and people say Asia-Pacific is the best division of Oanda to be with.

So for now that' it. Thanks a lot for your advice about using LMAX, and for this thread!

@TradingLife:

Something interesting happened to Axiory. R Capital Solutions sold their brand Axiory to Lloyds and Fisher. The brand name changed to purple trading. Having a look at the Cysec page, the only thing that seemed to change is the line "Granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction:", which was true under R Capital Solitions but no longer under Lloyds and Fisher.

Cycec: R Capital Solution
http://www.cysec.gov.cy/en-GB/entiti...ypriot/40651/#

Cysec: Lloyds and Fisher
http://www.cysec.gov.cy/en-GB/entiti...ypriot/72454/#

Do you or does anybody else know what this line means?