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  • #121
  • Nov 3, 2016 1:36pm Nov 3, 2016 1:36pm
Quoting erkan123
{quote} I just learned that they developed such attitude. Most of the previous previews were excellent. What would you suggest then .... Irwan. Thanks
No matter how good are the broker,what are they regulated by,just don't forget broker is not your friend and not your enemy either,they can turn agains you at any time from good to bad.
Actually i'am Master Sergeant in ForexPeaceArmy,in my 8 years experience with broker,here what i can list to all of you my friend traders.

1.You need to choose broker that have office in your country,if anything happen(agains you) you know where to find them.

2.You will know the true colour of your broker when your withdraw request above USD10k, a lot of broker can full fill your withdraw below USD10K without cos you any problem but when it's more than usd10k!? as i mention above,you will know the true colour of your broker good or bad.

3.If the broker always change their rule and condition including when high impact fundamental even occur(Brexit,US Election) beware of the broker they may delete all your profit make at that even.(if that happened to you this will help you to get your money back http://www.winchargeback.com/fpa)
we at ForexPeace Army trying our best to help retail trader like you and my self.

4.Attend at lease ones on your broker seminar if it held in your country so you know them face to face.

5.Don't deposit big amount,start with small amount (below USD1K) when make profit try withdraw,if they cos a problem that is a time to leave them.

6.Record all your trade by picture or video(if you trade with big amount at high impact fundamental even)for proof in future if the broker start to play fool with you.

7.Make a good relationship with your Bank individual person especially the bank you used for deposit to your broker,if your broker playing some dumb and fool to you so you can go to your bank ask for help,actually your bank can get your money back very easy(reimbursed system) only bank can do that and the broker will have no change to play fool when they are dealing with the bank,for sure the bank will come to your broker with first lawyer letter(by email) regarding the reimbursed and nothing broker can do about that just full fill it.

8.Ask the bank individual person in dealing desk department(who do the bank trading)about brokerage,they know better than us.(depend in your country)
in my country Maybank is the biggest bank and the best is they have their own trading platform can be use by domestic retail trader (pip a bit higher)USD/JPY always 2+pip,but it surely safe to used for trading,account,deposit,withdraw and platform at one same place.Try to ask your bank(big bank) and decide which best for you.

And lastly next week 8 nov US Election begin so beware if you still holding USD position it will be a massive volatile on dollar.

Thank You.
  • #122
  • Nov 3, 2016 1:54pm Nov 3, 2016 1:54pm
Quoting Decima
{quote} I do not trust the reviews from FPA. There are employees/affiliates of unserious brokers giving good ratings to their brokerage. As well as giving bad ratings to some serious brokers. LMAX is the best broker I have used without comparison. If they got bad reviews and maybe the biggest bucketshop around, namely Hotforex, is given a 4 star rating, there is something seriously wrong. Hotforex is drowning this forum with a handful of contributors trying to hide all the negative posts about Hotforex. Just read through their thread here. After...
Some retail trade believe and give all their trust to broker and some don't,that is normal my dear.But for me,i don't give all my trust to any broker big,small,regulated or not,broker is not your friend and not your enemy either.They can turn agains you at anytime.
  • #123
  • Nov 3, 2016 1:58pm Nov 3, 2016 1:58pm
Quoting Decima
{quote} I do not trust the reviews from FPA. There are employees/affiliates of unserious brokers giving good ratings to their brokerage. As well as giving bad ratings to some serious brokers. LMAX is the best broker I have used without comparison. If they got bad reviews and maybe the biggest bucketshop around, namely Hotforex, is given a 4 star rating, there is something seriously wrong. Hotforex is drowning this forum with a handful of contributors trying to hide all the negative posts about Hotforex. Just read through their thread here. After...
+1 for this.

Regarding LMAX,I can vouch for them.
I have first hand expirence with LAMX and they are one of the best solutions out there for retail traders.

On FPA you will see either bad reviews from competitors,loosers and some silly reviews how they were charged 20$ for a wire transfer as if LMAX is obligated to cover your bank transfer fees.LOL
  • #124
  • Nov 3, 2016 2:49pm Nov 3, 2016 2:49pm
Quoting Irwan1976
{quote} Some retail trade believe and give all their trust to broker and some don't,that is normal my dear.But for me,i don't give all my trust to any broker big,small,regulated or not,broker is not your friend and not your enemy either.They can turn agains you at anytime.
Firstly, I am not your dear.

Secondly, you did not understand anything from my post. I will eloborate it for you. It is quite easy to understand.

Alot of forex brokers are not even worth considering. I myself has first hand experience with brokers not beeing fair. Below are a link of this, post 545:

http://www.forexfactory.com/showthre...318634&page=28

So, I try to share my experience with others. Bad experiences and good experiences. Simple as that. It is not about befriending your broker.

It is about having a contracting relationship, where the broker fullfills their obligations towards the client, in a fair manner. Some will do that, others not...
Do not let the cost of being wrong, exceed the prize of beeing right
  • #125
  • Edited Nov 4, 2016 6:42am Nov 3, 2016 3:55pm | Edited Nov 4, 2016 6:42am
Quoting Irwan1976
{quote} No matter how good are the broker,what are they regulated by,just don't forget broker is not your friend and not your enemy either,they can turn agains you at any time from good to bad. Actually i'am Master Sergeant in ForexPeaceArmy,in my 8 years experience with broker,here what i can list to all of you my friend traders.
1.You need to choose broker that have office in your country,if anything happen(agains you) you know where to find them. .

Thanks Irwan for your precious guidelines regarding a choosing a decent broker. I Agree a 100% with what you just said especially the first point. As some one said somewhere "YOU NEED TO BE WHITEN 100 METER FROM YOUR BROKER OFFICE, HAD SOMETHING WENT WRONG, THEY WOULD BE WITHIN YOUR REACH TO SUE THEIR ASSES".

I would also add the following important article to discern if the the ECN brokers are really what they say they are, In my pursuit to learn about real ECN Broker i found this interesting article though not every one will be able to make use of it but specialized technicians:

How to Identify True ECN Brokers?

https://www.dukascopy.com/fxcomm/fx-...34&language=en

AND i am not a fan of duckascopy and i don't trade with them but i believe this article is very informative.

The problem is not all traders lives within the proximity of a broker and some live in countries that have no forex brokerage firms around and here comes the trouble. This is why Traders resorts to trading websites to narrow their search and reduce their agony of having a bad experience and loss of money trying one broker after the other. They want to learn from the experience and pains of the other so that they can keep their pains to a minimum.

After going through a huge number of threads and web pages, traders [including me] end up confused and had no clue who is the best and who is the worst . That goes for every thread discussed in the web regarding this subject. Someone has to STEP UP and spell out an honest, a neutral opinion regarding the best broker for the best terms and conditions.

And you are right again: "THINGS CAN GO CHAOS AT ANY TIME WITHOUT ANY PRIOR NOTIFICATION"

Thanks again
  • #126
  • Nov 4, 2016 9:28am Nov 4, 2016 9:28am
interesting stuff thanks.. I am doing some research to look at putting in a structure that keeps traders money separate from brokers and can be transferred when you close your trade in profit .. not at the request of the broker thus provide some protection where unregulated brokers may want to take funds and hold them...(or close down).

also not allowing the brokers to control orders by manipulating spreads and pushing stops...

remember that each broker does not get the same FX rates as there is no centralised LP so every broker sits in a world of their own when it comes to spreads and market lvls... this is why there is such a disparity between brokers..

if you see a tight spread (1 pip) they are more often than not B booking.. but if you are a scalper this is where you may find spreads widening...
  • #127
  • Nov 6, 2016 2:03am Nov 6, 2016 2:03am
Quoting erkan123
{quote} Thanks Irwan for your precious guidelines regarding a choosing a decent broker. I Agree a 100% with what you just said especially the first point. As some one said somewhere "YOU NEED TO BE WHITEN 100 METER FROM YOUR BROKER OFFICE, HAD SOMETHING WENT WRONG, THEY WOULD BE WITHIN YOUR REACH TO SUE THEIR ASSES". I would also add the following important article to discern if the the ECN brokers are really what they say they are, In my pursuit to learn about real ECN Broker i found this interesting article though not every one will be able to...
Yes you are right erkan123,( not all traders lives within the proximity of a broker )that is unsolved big problem,we still to find the way to fix this but for now we have our best lawyer (winchargeback) for retail trade who seek for help regarding money scam broker.
I'll come back to you about Dukascopy later.
  • #128
  • Nov 6, 2016 2:07am Nov 6, 2016 2:07am
Quoting J.Farrell
interesting stuff thanks.. I am doing some research to look at putting in a structure that keeps traders money separate from brokers and can be transferred when you close your trade in profit .. not at the request of the broker thus provide some protection where unregulated brokers may want to take funds and hold them...(or close down). also not allowing the brokers to control orders by manipulating spreads and pushing stops... remember that each broker does not get the same FX rates as there is no centralised LP so every broker sits in a world...
Good Idea man!continue with your reasearch and update your progress please.Very interesting to look forward.
  • #129
  • Nov 9, 2016 2:04am Nov 9, 2016 2:04am
The BIG question is Where are those regulators like FCA from those SCUMS who build their wealth by playing frauds and scamming the traders. Why are their rules is limited for developing regulations and selling Licenses. Why they keep ignoring what is happening by those SCAMMERS and why they did not put a limit to this ridiculous fraud game.

Belgum FSMA had banned the Forex and Binary Options trading because of such dishonest and obnoxious manipulation of such huge multi-trillion dollar financial market. Those regulators gave the brokerage firms a full unsupervised, uncontrolled licence for fraud and manipulation of the market and traders.

What a Frustration!!!!!!!!!!!!!
  • #130
  • Nov 9, 2016 5:35am Nov 9, 2016 5:35am
I dont believe regulators should go as far as banning trading activity, you have a right to use your money as you wish, gambling online is massive obviously.. however they do have a responsibility to try to protect.. but they donot have a clear understanding of the markets and technologies employed. The idividual should take as much necessary precation and find out as much information as possible in regards to the broker they wish to use before depositing any money. No matter what the regulators do there will always be those that take advantage or stretch the rules.. FXCM were caught out by the chf move... there are those in the market like myself who want to make it safer and more transparent for those that wish to trade and remove alot of the guess work out of which broker to choose by separating their ability to hold clients money and or control what rates traders see.
  • #131
  • Nov 9, 2016 10:12am Nov 9, 2016 10:12am
Quoting erkan123
The BIG question is Where are those regulators like FCA from those SCUMS who build their wealth by playing frauds and scamming the traders. Why are their rules is limited for developing regulations and selling Licenses. Why they keep ignoring what is happening by those SCAMMERS and why they did not put a limit to this ridiculous fraud game. Belgum FSMA had banned the Forex and Binary Options trading because of such dishonest and obnoxious manipulation of such huge multi-trillion dollar financial market. Those regulators gave the brokerage firms...
The world of forex retail trading is full of lousy regulators. I do not believe that FCA is the first one you should point your finger towards. They are recognized as the best regulation for retail traders.

Wich regulation do you think is the better ones?
Do not let the cost of being wrong, exceed the prize of beeing right
  • #132
  • Nov 9, 2016 2:54pm Nov 9, 2016 2:54pm
Quoting Decima
{quote} The world of forex retail trading is full of lousy regulators. I do not believe that FCA is the first one you should point your finger towards. They are recognized as the best regulation for retail traders. Wich regulation do you think is the better ones?
ASIC may be good as well. And sometimes CySEC but only in several cases
  • #133
  • Nov 9, 2016 4:41pm Nov 9, 2016 4:41pm
Lmax is the champion of mine selection completely programmed to be a champion.
Good trades Traders.
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  • #134
  • Nov 10, 2016 9:51am Nov 10, 2016 9:51am
ECN trading has fast become very popular among forex traders these days. Opting for an ECN broker offers so many advantages. First of all, it’s instant trade execution; when the trader places an order, the order is passed on down to the forex market. Secondly, prices are derived from several sources hence you get better bid/ask prices.

As a true ECN broker, Vipro Markets provides access to deep liquidity, variable spreads, low commissions, fast execution of 0.3 seconds though our advanced trading servers located at the Equinix LD4 data centre in London.

The broker also provides some of the industry's lowest average spreads on WTI Crude Oil and precious metals including Gold and Silver.

Have you opened an account with Vipro Markets? Please share your experience.
LIVE account login: 888000229 Inv pword: HpLk5uQ
  • #135
  • Nov 10, 2016 1:04pm Nov 10, 2016 1:04pm
Quoting SickOfScam
Stay away from Global Prime, -->28 pips spread on GA and constant freezing of servers as soon as the PA on M1 jumped 15 to 20 pips. How quickly their servers frozen man would say that they are from Antarctica - and not Australia ... Cheers, S.O.S
Their Support told me their servers are in the US.
  • #136
  • Nov 10, 2016 1:28pm Nov 10, 2016 1:28pm
Quoting Vipro
ECN trading has fast become very popular among forex traders these days. Opting for an ECN broker offers so many advantages. First of all, its instant trade execution; when the trader places an order, the order is passed on down to the forex market. Secondly, prices are derived from several sources hence you get better bid/ask prices. As a true ECN broker, Vipro Markets provides access to deep liquidity, variable spreads, low commissions, fast execution of 0.3 seconds though our advanced trading servers located at the Equinix LD4 data centre in...
Your so new, working for how long, 1 Year?
  • #137
  • Nov 10, 2016 2:20pm Nov 10, 2016 2:20pm
Quoting Botan626
{quote} Their Support told me their servers are in the US.
Don't believe that baby's face Jem, their servers ( Global Prime) are frozen deep in the ice of Antarctica...
perhaps my English is not perfect - but I know the Jungle
  • #138
  • Nov 11, 2016 7:06am Nov 11, 2016 7:06am
Quoting tomuks
{quote} Your so new, working for how long, 1 Year?
Vipro Markets was established in 2015 and is authorised and regulated by CySEC (Cyprus Securities and Exchange Commission) and operates under the Financial Instruments Directive (MiFID).

We are also registered in other prestigious jurisdictions including:

FCA (United Kingdom) – Financial Conduct Authority
BaFin (Germany) – Federal Financial Supervisory Authority
CONSOB (Italy) – Commissione Nazionale per le Societŕ e la Borsa
ACPR (France) – Autorité de Contrôle Prudential
CNMV (Spain) – Comisión Nacional del Mercado de Valores

Please let me know if there is anything else I can help you with.

Kind regards,

Michalis Michael

Vipro Markets Representative
LIVE account login: 888000229 Inv pword: HpLk5uQ
  • #139
  • Nov 11, 2016 1:23pm Nov 11, 2016 1:23pm
Quoting J.Farrell
I dont believe regulators should go as far as banning trading activity, you have a right to use your money as you wish, gambling online is massive obviously.. however they do have a responsibility to try to protect.. but they donot have a clear understanding of the markets and technologies employed. The idividual should take as much necessary precation and find out as much information as possible in regards to the broker they wish to use before depositing any money.
You make several great points, J.Farrell

Quoting J.Farrell
No matter what the regulators do there will always be those that take advantage or stretch the rules..
Quoting J.Farrell
FXCM were caught out by the chf move...
I'm not sure if your two comments are related, so I would like to address any possible concerns. It's important to understand why FXCM and other STP brokers had much bigger exposure to the CHF flash crash last year than dealing desk brokers (AKA market makers). For all forex trades placed by our clients on standard FXCM accounts, we are a no dealing-desk broker and offset each trade one-for-one with our liquidity providers, and only make money on trades not customer losses.

Obviously many of our competitors who are on the opposite side of their clients trades did not find the EUR/CHF trade to be helpful to their bottom line, as they lose money when traders profit. We saw many of the dealing desk firms begin to increase overnight rollover cost as well as raise margin requirements to get these trades off their system.

At the time of the SNB announcement over 3,000 FXCM clients held slightly over $1 billion in open positions on EUR/CHF. Those same clients held approximately $80 million of collateral in their accounts. As you know this was the largest move of a major currency since currencies started floating 1971.

The EUR/CHF move was 44 standard deviation moves, while most risk management systems only contemplate 3-6 standard deviations. The move wiped out those clients account equity as well as generated negative equity balances owed to FXCM of over $225 million. We believe that the FXCM system operated properly during this event.

The caveat of our no dealing-desk execution system is that traders are offset one for one with a liquidity provider. When a client entered a EUR/CHF trade with FXCM, FXCM Inc. had an identical trade with our liquidity providers. During the historic move, liquidity became extremely scarce and shallow, which affected execution prices. This liquidity issue resulted in some clients having a negative balance.

While clients could not cover their margin call with us we still had to cover the same margin call with our banks. When a client profits in the trade FXCM gives the profits to the customer, however, when the client is not profitable on that trade FXCM Inc. ends up having to pay the liquidity provider. For anyone that still thinks FXCM is running an FX dealing desk despite stating that we provide No Dealing Desk (NDD) forex execution to all our standard accounts, we have now demonstrated that such is not the case.

Also, despite the events of 15 January 2015, FXCM's capitalization remains at levels similar to before the CHF flash crash. As of May 6, 2016, the minimum regulatory capital requirement for our worldwide operations is $60 million. However, FXCM has regulatory capital of $167 million, a surplus of $107.2 million. Our clients appreciate this fact, which is why the latest financial data from the CFTC show traders continue to have more money on deposit with FXCM than any other US-regulated forex broker.
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  • #140
  • Nov 13, 2016 4:47am Nov 13, 2016 4:47am
These are the entities that can manipulates your orders in mt4 platforms and description of each entities.

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  1. MetaTrader 4 Server is the core of the system where all trade transactions are processed and all historical data is stored and managed.[This is where they screw you]
  2. MetaTrader 4 Manager processes trade transactions and manages traders' accounts.[This is where they screw you]
  3. MetaTrader 4 Administrator enables remote server administration, set-up of financial instruments, databases, etc.[This is where they screw you]
  4. MetaTrader 4 Data Center is a proxy server designed to increase platform scalability and security.
  5. MetaTrader 4 Client Terminal is the trader's tool that enables traders to conduct technical analysis, make trade transactions and work with Expert Advisors.[ This is where you get screwed]
  6. MetaTrader 4 Mobile Terminals enable trade account management and technical analysis from Pocket PC and Smartphones (mobile trading) [ This is where you get screwed too]

[Comments in brackets are mine.]

Source: http://www.metaquotes.net/en/metatrader4

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