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Good broker that allows profitable traders?

  • #1
  • First Post: Dec 21, 2016 12:58pm Dec 21, 2016 12:58pm
Hi everyone, over the past 2-3 years, I have become profitable in forex and is now my full time income. I was with pepperstone and after some real bad slippage I moved my funds over to vantagefx. Everytime I withdraw each time it's getting longer and longer to get my money, to the last withdrawal which involved questions about my trading etc, which really is not their business but I have nothing to hide.

Now I am getting close to making my first 6 figure withdrawal, I am now worried or paranoid that for some reason Vantage will get to a point where they start holding my money and refusing withdrawals, just have a funny feeling, which is crazy because apparently they are ECN so should not bother them if im profitable or not.

So my question is to the serious forex traders who regularly withdraw 5 figure amounts and 6 figure, who do you use as your broker?
  • #2
  • Edited Dec 22, 2016 2:10pm Dec 21, 2016 2:27pm | Edited Dec 22, 2016 2:10pm
Quoting deankenny21
Hi everyone, over the past 2-3 years, I have become profitable in forex and is now my full time income. I was with pepperstone and after some real bad slippage I moved my funds over to vantagefx. Everytime I withdraw each time it's getting longer and longer to get my money, to the last withdrawal which involved questions about my trading etc, which really is not their business but I have nothing to hide. Now I am getting close to making my first 6 figure withdrawal, I am now worried or paranoid that for some reason Vantage will get to a point where...
Hi Dean,

Not only do I work with FXCM, I'm also a client and have made 5 figure withdrawals from my trading accounts here in each of the last 4 years. On the No Dealing Desk (NDD) forex execution we provide to all Standard accounts (5k minimum opening balance) and Active Trader accounts (25k minimum), FXCM offsets each client order one-for-one with the best prices from competing liquidity providers. That means we don't profit from client losses, or lose from client profits. Instead, we profit from client trading volume.*

Your forum profile mentions you live in the UK, so you'll be interested to know FXCM has offices in London regulated by the Financial Conduct Authority. Furthermore, your first 50,000 on deposit with FXCM UK are covered by the Financial Services Protection Scheme though I appreciate from your post that you may have substantially more in your trading account. It's worth noting this could qualify you for commission discounts through our Active Trader program.

FXCM's goal is to be an industry leader when it comes to providing traders with transparency regarding our financials, so I encourage you to review the latest figures, and please let me know if you have any additional questions: http://bit.ly/2frHm12


* Last year, FXCM introduced a new Mini account size for which we provide DD execution to traders who can start with as little as $50 opening balance. It's worth noting that we use the same base price for DD execution on Mini accounts (before adding the fixed spread markup) as the base price we use for our NDD execution (before adding the commission). That's a key reason you can have confidence trading with FXCM regardless of the account size you choose.
  • #3
  • Dec 21, 2016 3:31pm Dec 21, 2016 3:31pm
Thanks for the reply Jason, unfortunately I have used FXCM in the past, and I was actually doing a logging spreadsheet of slippage at the time between pepperstone, vantage and FXCM using the same strategy, and FXCM came out at the worst slippage with each trade being a minimum of =0.8pips slippage, and anything over 1.0 lot came in at a staggering 2 pips or more slippage.
  • #4
  • Dec 21, 2016 7:13pm Dec 21, 2016 7:13pm
Quoting deankenny21
Hi everyone, over the past 2-3 years, I have become profitable in forex and is now my full time income. I was with pepperstone and after some real bad slippage I moved my funds over to vantagefx. Everytime I withdraw each time it's getting longer and longer to get my money, to the last withdrawal which involved questions about my trading etc, which really is not their business but I have nothing to hide. Now I am getting close to making my first 6 figure withdrawal, I am now worried or paranoid that for some reason Vantage will get to a point where...
Been with GoMarkets many years. No problems & less slippage, spread etc than the others you mention which I have tried & discarded in the past
Combat crazy markets with crazy trading
  • #5
  • Dec 21, 2016 7:15pm Dec 21, 2016 7:15pm
Quoting CrazyOz
{quote} Been with GoMarkets many years. No problems & less slippage, spread etc than the others you mention which I have tried & discarded in the past
And if it's not too personal of course, what kind of sums do you withdraw and how often? and if so, does it take long, any questions asked etc, thank you.
  • #6
  • Dec 21, 2016 9:38pm Dec 21, 2016 9:38pm
Quoting deankenny21
Hi everyone, over the past 2-3 years, I have become profitable in forex and is now my full time income. I was with pepperstone and after some real bad slippage I moved my funds over to vantagefx. Everytime I withdraw each time it's getting longer and longer to get my money, to the last withdrawal which involved questions about my trading etc, which really is not their business but I have nothing to hide. Now I am getting close to making my first 6 figure withdrawal, I am now worried or paranoid that for some reason Vantage will get to a point where...
oanda. my largest withdrawal was 50k. in my bank within 5 hours
  • #7
  • Dec 22, 2016 2:12am Dec 22, 2016 2:12am
Quoting deankenny21
Hi everyone, over the past 2-3 years, I have become profitable in forex and is now my full time income.
Interesting, may i know how long you have traded before you have achieved this level of consistency?

Do you day trade or are you a trend follower?

Apologies for side-tracking
  • #8
  • Dec 22, 2016 4:47am Dec 22, 2016 4:47am
Quoting deankenny21
Hi everyone, over the past 2-3 years, I have become profitable in forex and is now my full time income. I was with pepperstone and after some real bad slippage I moved my funds over to vantagefx. Everytime I withdraw each time it's getting longer and longer to get my money, to the last withdrawal which involved questions about my trading etc, which really is not their business but I have nothing to hide. Now I am getting close to making my first 6 figure withdrawal, I am now worried or paranoid that for some reason Vantage will get to a point where...
I have withdrawn in total over £500k from pepperstone in past. Always arrived in account within 24 hours. That was over a period of 1.5 years. Never ever questioned or delayed.
  • #9
  • Dec 22, 2016 8:23am Dec 22, 2016 8:23am
Quoting limzy
{quote} Interesting, may i know how long you have traded before you have achieved this level of consistency? Do you day trade or are you a trend follower? Apologies for side-tracking
If you check my profile on FF, you will see since about 2011, I use my own strategy of supply and demand which I actually created a thread devoted to it, which become quite popular. You can check all these things out yourself checking my profile and threads made etc.
  • #10
  • Dec 22, 2016 10:11am Dec 22, 2016 10:11am
So let me get this straight -

trading forex is supposedly accessing a vast - infinite money supply, the biggest game in town.

Yet here we have traders worried that if they make - no not millions, nor hundreds of thousands, just a measly five figures (10k) - their broker/s may close their accounts as they are too good and are in danger of breaking their bank????

yet their broker claims to make their profits from the spread clients pay, so the more successful the client the bigger the brokers profits???

Do all the wall street city slickers have to worry about this while they dream of how they will spend their 10k fortunes????

Yet some pro footballers get paid half a million or more per week.

WTF SMH
  • #11
  • Dec 22, 2016 10:36am Dec 22, 2016 10:36am
Quoting dax30
{quote} I have withdrawn in total over 500k from pepperstone in past. Always arrived in account within 24 hours. That was over a period of 1.5 years. Never ever questioned or delayed.
Excellent, may be worth giving Pepperstone another shot, as apart from the slippage I got everything else I experienced with them was very good.
  • #12
  • Dec 22, 2016 10:42am Dec 22, 2016 10:42am
Quoting Nebula
So let me get this straight - trading forex is supposedly accessing a vast - infinite money supply, the biggest game in town. Yet here we have traders worried that if they make - no not millions, nor hundreds of thousands, just a measly five figures (10k) - their broker/s may close their accounts as they are too good and are in danger of breaking their bank???? yet their broker claims to make their profits from the spread clients pay, so the more successful the client the bigger the brokers profits??? Do all the wall street city slickers have to...
Withdrawing 10k or under I have never had a problem with both vantage or pepperstone, but it's been a very long time since I withdrawn so little, but since withdrawals of 75k and over, it's been close to 3-4 weeks before it reaches my bank account, whereas when I was making withdrawals under 50k it was within the week.
  • #13
  • Dec 22, 2016 10:57am Dec 22, 2016 10:57am
Quoting deankenny21
{quote} Withdrawing 10k or under I have never had a problem with both vantage or pepperstone, but it's been a very long time since I withdrawn so little, but since withdrawals of 75k and over, it's been close to 3-4 weeks before it reaches my bank account, whereas when I was making withdrawals under 50k it was within the week.
This may be due to increased scrutiny at the banking level more than anything else. I can personally attest to the vast changes that have taken place over the last 6 to 18 months when it comes to the 'ease of banking'. This is especially true for USD. Simple transactional Banks don't make money from retail FX brokers so that combined with the risks associated with third party transfers means that costs rise, compliance heightens, and the wheels move slower and slower.
Kevin Murcko | CEO at FXPIG
  • #14
  • Dec 22, 2016 10:57am Dec 22, 2016 10:57am
Quoting deankenny21
{quote} Excellent, may be worth giving Pepperstone another shot, as apart from the slippage I got everything else I experienced with them was very good.
Yeah...I started also with tradeview. Only 15k there. Once I get to 30 or 40k I will try a withdrawal there as I don't know what they're like for withdraws but execution is better than pepperstone.
  • #15
  • Dec 22, 2016 11:05am Dec 22, 2016 11:05am
Quoting FXPIG.Kevin
{quote} This may be due to increased scrutiny at the banking level more than anything else. I can personally attest to the vast changes that have taken place over the last 6 to 18 months when it comes to the 'ease of banking'. This is especially true for USD. Simple transactional Banks don't make money from retail FX brokers so that combined with the risks associated with third party transfers means that costs rise, compliance heightens, and the wheels move slower and slower.
That makes perfect sense Kevin, and may be me just being over paranoid, thanks for the explanation.
  • #16
  • Dec 22, 2016 12:25pm Dec 22, 2016 12:25pm
Quoting deankenny21
{quote} Excellent, may be worth giving Pepperstone another shot, as apart from the slippage I got everything else I experienced with them was very good.
Please read reviews about pepperstone before giving them another shot. There are a lot of bad reviews in the internet about them and they closed my positions without my permission, so I sent cases to FCA and ASIC. But there are a lot of pepperstone affiliates in broker discussion section, you should read messages carefully

I advice you to check different places, reviews before opening an account with new broker which will allow you to withdrawal profit in long term. But it is not easy to find it. It is also not easy to find casino who will allow permanent profit

Good luck.
  • #17
  • Dec 22, 2016 12:38pm Dec 22, 2016 12:38pm
Quoting profit.erol
{quote} Please read reviews about pepperstone before giving them another shot. There are a lot of bad reviews in the internet about them and they closed my positions without my permission, so I sent cases to FCA and ASIC. But there are a lot of pepperstone affiliates in broker discussion section, you should read messages carefully I advice you to check different places, reviews before opening an account with new broker which will allow you to withdrawal profit in long term. But it is not easy to find it. It is also not easy to find casino...

Being in the biz since 2011, the first thing I do is read reviews, from various different sources to try and get a good median of the general feeling about a certain company. I must say however, apart from the slippage I got for a period of time, Pepperstone never did anything else wrong to me personally, I have heard of closing trades not just from pepperstone but many different brokers, and it actually turned out to be a spread widening due to news or similar and trade hit SL, but on the chart of course price looks like it didn't go anywhere near your SL. It's like my withdrawal issue, why would any true ECN close trades purposely when it should not affect them in the slightest, as all they care about is the initial commision from the trade being opened, what happens after should not affect any true ECN broker at all, win or lose.
  • #18
  • Dec 22, 2016 12:56pm Dec 22, 2016 12:56pm
Quoting FXPIG.Kevin
{quote} This may be due to increased scrutiny at the banking level more than anything else. I can personally attest to the vast changes that have taken place over the last 6 to 18 months when it comes to the 'ease of banking'. This is especially true for USD. Simple transactional Banks don't make money from retail FX brokers so that combined with the risks associated with third party transfers means that costs rise, compliance heightens, and the wheels move slower and slower.
I wonder if the sports stars bank transactions are scrutinised by the banks when their weekly 350k + weekly wages are paid in to their banks?

the rest of us - with deposits of over 5k or 10k - your countries tax collecting agency probably gets told about it.
  • #19
  • Dec 22, 2016 1:10pm Dec 22, 2016 1:10pm
lol
"If The Fool persists in his Folly he will become wise." - William Blake
  • #20
  • Dec 22, 2016 2:23pm Dec 22, 2016 2:23pm
Quoting deankenny21
Hi everyone, over the past 2-3 years, I have become profitable in forex and is now my full time income. I was with pepperstone and after some real bad slippage I moved my funds over to vantagefx. Everytime I withdraw each time it's getting longer and longer to get my money, to the last withdrawal which involved questions about my trading etc, which really is not their business but I have nothing to hide. Now I am getting close to making my first 6 figure withdrawal, I am now worried or paranoid that for some reason Vantage will get to a point where...
Quoting FXPIG.Kevin
{quote} This may be due to increased scrutiny at the banking level more than anything else. I can personally attest to the vast changes that have taken place over the last 6 to 18 months when it comes to the 'ease of banking'. This is especially true for USD. Simple transactional Banks don't make money from retail FX brokers so that combined with the risks associated with third party transfers means that costs rise, compliance heightens, and the wheels move slower and slower.
Hey Dean,

First up, Merry Christmas and what a way to celebrate with a close to 6 figure withdrawal!

You're right that we do ask some extra questions around larger withdrawals, but this is simply to seek confirmation from the client as an extra security check for their benefit. When we receive confirmation from the client, the funds are wired to their nominated bank account on the same day.

As Kevin has alluded to, especially if you're withdrawing a large sum from our Australian bank (NAB), to a bank in Europe, you may experience some delays on their end. It's just a banking procedural process that large transfers now fall under. We are happy to send you a confirmation receipt to confirm that your funds have left Vantage FX and are on the way if you'd like for any future 6 figure+ withdrawals you make.

As a true ECN Forex broker, as you can testify to yourself, it is in our best interest to have professional, profitable traders on the Vantage FX book. We look forward to working with you in 2017!
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
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