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Attachments: Reality of FOREX: my experience with brokers + share yours
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Reality of FOREX: my experience with brokers + share yours

  • #541
  • Nov 18, 2016 10:31am Nov 18, 2016 10:31am
Quoting Chris1008
@TradingLife: "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?
I am really not sure, but I can only think of that "credit" is granted usually by liquidity provider to prime broker, or directly by prime of prime broker. Prime brokers are for institutions, where trading 1 lot usually mean 1 million.
So perhaps it's similar or the same as leverage that retail brokers give us, retail traders.

That would mean this company were prime broker and became retail broker?
PW
  • #542
  • Nov 21, 2016 3:11am Nov 21, 2016 3:11am
I've had a demo account with Plus500 for several months now to experiment with now and then. You get plenty of Forex/CFD instruments to choose from, a balance of £20,000 to play with which resets if you mess up so as a learning tool, it's pretty good. The mobile app is quite stable, their servers are rarely down tbh.

You get a £20 bonus for joining, I squandered that almost immediately as I had no idea what I was doing. BUT maybe you can use that free money to multiply it. Can't see any ability to use robots/scripts though.
  • #543
  • Nov 21, 2016 3:18am Nov 21, 2016 3:18am
i read all thread from the beginning
and wanted to thank you for the best thread about brokers, at least in from my point of view
great thread, very helpful, especially with details happening beyond our scope/horizon, as retail traders and/or beginners

i want to share a partial idea / flow of thought, that i like to think about, for some time now
a good solution against unfair brokers
and what i visualize,
is a software which automatically records video for each and every trade of everyone
(something in the line of bitcoin+youtube, but just potential fraud videos)
a software that will be the standard for every retail trader
and when brokers cheat, there will be clear standard proof
proofs that can be uploaded to the webserver (or cloud or whatever, something like youtube)

then,
it should have a mechanism to prove validity of trader's account with that broker
here it's kind of misty in my mind, for now
maybe an API should solve this
an API through which the software can exchange info with willing brokers
of course, willing brokers will be only the fair ones,
they will have interest to be a part of "fair brokers" network,
who are willing to cooperate with this anti-fraud mechanism

then,
some kind of protection agaist fraud from traders
here i'm thinking recording without user's interference
user will be able to delete any recordings, and export them to mp4 or whatever,
but they will not be able to edit these recordings

then,
money needed to create such a software
probably the best way would be to have an honest broker starting this idea
they would have the money and the interest (edge against other brokers)

I am curious of your input, because i'm sure there must be some blind spots which i didn't see
what do you think of this anti-fraud method?
  • #544
  • Nov 23, 2016 4:03am Nov 23, 2016 4:03am
Hello everybody, my question is about bonus. As I was searching for different brokers, I found out that some of them offers bonus and some of them not. The percentage of this bonus was different in each brokerage. How they calculate this bonus and is it withdrawable or not?
  • #545
  • Nov 23, 2016 4:16am Nov 23, 2016 4:16am
Quoting carolscott
Hello everybody, my question is about bonus. As I was searching for different brokers, I found out that some of them offers bonus and some of them not. The percentage of this bonus was different in each brokerage. How they calculate this bonus and is it withdrawable or not?
you can withdraw bonus after specific lots of trading varying brokers to brokers with profit. Huge bonus offers indicate scam broker as free money never exist.
Never Gamble Forex
  • #546
  • Nov 23, 2016 5:06am Nov 23, 2016 5:06am
Thanks to the author of course, but it seems the thread raises more questions than answers.
Are you guys really think 1 person experience it's a general view? The market is a complex system with its players. They compete with each other for customers. So you have bonuses and leverage.
What we're doing in forex? We're trying to f*ck brokers for money? No? or market whatever
You/we want to make money on other people's losses.
And then we go everywhere and talk about scam. I have been trading for many years. Now mainly engaged in managing of others. And I still can't say for sure who's scam.
Sometimes a well-known and reputable broker is actually much worse than unheard. As brands, only name

Green pips to all
  • #547
  • Nov 23, 2016 5:29am Nov 23, 2016 5:29am
Quoting carolscott
Hello everybody, my question is about bonus. As I was searching for different brokers, I found out that some of them offers bonus and some of them not. The percentage of this bonus was different in each brokerage. How they calculate this bonus and is it withdrawable or not?

There's simple rule, if broker offers percentage bonus from deposit you can be sure that it's MM scam that plays against you!
  • #548
  • Nov 23, 2016 2:56pm Nov 23, 2016 2:56pm
Everything is mm or are we dealing directly with Yelen ??
Let's not waste time with the illusion of ecn, mm, stp, dma, bitch who gave birth.
You make a profit, will you pay for it? That is the question. The rest is computer programming and nothing more.

Good trades
  • #549
  • Nov 29, 2016 9:35am Nov 29, 2016 9:35am
hello my friends, I am really sorry to not being active here - a lot of things are going on at my side, but I am happy to hear that some of you went through the thread and that the thread helped you! I will try to go through the unread messages and respond if needed. In anyway, feel free to share your experience with brokers, bad or good, doesn't matter - just share it!
Acta non verba
  • #550
  • Nov 29, 2016 9:38am Nov 29, 2016 9:38am
Quoting Esp86
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..
If you saved some detailed statement of your account and have some evidence of executed prices, just let them know and claim the bad practices. If they won't respond, just contact their regulator. It would be probably also better to change the broker to some more professional one.
Acta non verba
  • #551
  • Nov 29, 2016 9:40am Nov 29, 2016 9:40am
Quoting forexvert
{quote} 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
Yep, I definitely agree with this!
Acta non verba
  • #552
  • Nov 29, 2016 9:46am Nov 29, 2016 9:46am
Quoting piupiu
Ig markets!!?? Any experience to share?? Good trades.
IG, IG Index, IG Markets - all brands are from the same company - well known between traders to be a cheating broker. There is also a petition against them.
Acta non verba
  • #553
  • Nov 29, 2016 9:51am Nov 29, 2016 9:51am
Quoting gilik
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...
Lol, I hope that this is joke!! However, I am not surprised.. Oanda is in the "brokers to avoid" right from the beginning of the thread. Saxo Bank has the inactivity fee too. They are just finding more and more ways to scam traders... be careful! And if your broker has the inactivity fee and you will leave them, ask them to completely close your account and delete your personal information. Or you could be surprised after 10 years how the fee will look like..
Acta non verba
  • #554
  • Nov 29, 2016 9:56am Nov 29, 2016 9:56am
Quoting scalpeur
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: {image} {image} {image} {image} {image}
Hi and thanks for interesting posts. Seems like FXpro has bad ping from all your locations. Regarding C7 broker, I don't know them, but I found that they are regulated by Vanuatu Financial Services Commission - I have no idea where does this regulator come from.
Acta non verba
  • #555
  • Nov 29, 2016 9:58am Nov 29, 2016 9:58am
Quoting nairate
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? ...
By the market it is meant that the orders are sent to more liquidity providers who compete to offer the best quotes and orders execution. If you trade only against your broker, then it's just like a casino. I have to agree that a good broker provides great trading conditions and pay WD fast, the fact is that market makers don't provide great trading conditions and usually don't pay fast
Acta non verba
  • #556
  • Nov 29, 2016 10:02am Nov 29, 2016 10:02am
Quoting yesyoucan
Seen lately ...Bogus orders also possible! Read this ! http://www.reuters.com/article/us-fl...-idUSKBN12E196
Hehe, those fast money aren't worth it but if he will hide the money, maybe his 6th generation will live well
Acta non verba
  • #557
  • Nov 29, 2016 10:07am Nov 29, 2016 10:07am
Quoting Chris1008
@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/#...
Hi Chris, yep, they changed their brand to Purple Trading. My account from Axiory got transferred to Purple Trading and everything is smooth with them. The only thing for now that changed is that Axiory wasn't able to offer services for managers and investors. So based on them they decided to switch their license and they had to change their brand too. So now they have some services for money managers and investors too. But the team of people is the same as well as their liquidity providers, orders execution etc.
Acta non verba
  • #558
  • Nov 29, 2016 10:11am Nov 29, 2016 10:11am
Quoting Paul4970
{quote} I am really not sure, but I can only think of that "credit" is granted usually by liquidity provider to prime broker, or directly by prime of prime broker. Prime brokers are for institutions, where trading 1 lot usually mean 1 million. So perhaps it's similar or the same as leverage that retail brokers give us, retail traders. That would mean this company were prime broker and became retail broker?
Not sure about this, they most probably do some services for institutions as well as retail traders. But their trading conditions as well as ECN / STP accounts are the same: https://www.purple-trading.com/account-types/, except the money manager account which was added.
Acta non verba
  • #559
  • Nov 29, 2016 10:13am Nov 29, 2016 10:13am
Quoting FiveK
I've had a demo account with Plus500 for several months now to experiment with now and then. You get plenty of Forex/CFD instruments to choose from, a balance of 20,000 to play with which resets if you mess up so as a learning tool, it's pretty good. The mobile app is quite stable, their servers are rarely down tbh. You get a 20 bonus for joining, I squandered that almost immediately as I had no idea what I was doing. BUT maybe you can use that free money to multiply it. Can't see any ability to use robots/scripts though.
Plus500 is a big NO, just a bucket shop that will totally scam you. You can have as many demo accounts as you want with any broker.
Acta non verba
  • #560
  • Nov 29, 2016 10:14am Nov 29, 2016 10:14am
Quoting ifmihai
i read all thread from the beginning and wanted to thank you for the best thread about brokers, at least in from my point of view great thread, very helpful, especially with details happening beyond our scope/horizon, as retail traders and/or beginners i want to share a partial idea / flow of thought, that i like to think about, for some time now a good solution against unfair brokers and what i visualize, is a software which automatically records video for each and every trade of everyone (something in the line of bitcoin+youtube, but just potential...
This sounds very interesting.. do you think that something like this is doable?
Acta non verba
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