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Attachments: Can you really cancel a losing trade? Anybody tried this?
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Can you really cancel a losing trade? Anybody tried this?

Quoting meyoik
{quote} If the price of the insurance is variable, then I would agree with you; but if it's fixed at ~1/7 like the example they show, it's still an option for news trading.

Of course, it's variable, read agreement. After first NFP they would go bankrupt if long and short positions insurance costed only 27,2 pip. I would set both sides take profit 40 pip before NFP every month
Quoting insomniawawa
I would set both sides take profit 40 pip before NFP every month
That's why you make the big bucks
Quoting The-Flipper
{quote} You're obviously a noob who can't smell BS. Of course do you miss 2 things: 1. a scam broker comes out with 2. a new scam

He may also be engaged in their promotion though...
Just an assumption
Hmm....brokers are always coming up with witty schemes to empty our bank accounts...The insurance simply means you pay for winning trades and also pay for losing trades plus spread again...Hehehe.
How could you cancel an already open trade if it is sent to the real market? You can’t, is the answer. Not a singly real STP would agree to cover 85% of your loosing order. So, in my mind this is yet another tool created by bucket shops which enables them to rob clients in a more subtle and gentle way.
Quoting UlliC
How could you cancel an already open trade if it is sent to the real market? You cant, is the answer. Not a singly real STP would agree to cover 85% of your loosing order. So, in my mind this is yet another tool created by bucket shops which enables them to rob clients in a more subtle and gentle way.
Actually it would be very easy for a market maker to do that. Besides, this "cancel a trade" option is only valid for 1 hour from what I read on this post. But for for sure I agree with you, in a "normal world" it should not be possible....
The Pips man cometh
To good to be true
Quoting meyoik
Ha ha ha, fair enough Still, if someone in this forum has actually tried it, would love to hear what they have to say
they are telling you already its a scam.. your are going to lose in the long run PERIOD

You play with offshore brokers, you still dont know how to trade and every single question you made reflex your true side "i want easy money and fast and i dont care if its a scam, if its sound to good to be true then.. IM IN"

for god sake man.. take the advices people give to you, use your brain for a second and learn the lesson !!
Inserted Video
Thank you for sharing this video. It pretty clearly explains what some of us already said above – this was just another method for a market maker to take a big portion of your hard earned money.
Thanks for posting this!

It looked like an interesting proposition....but it's not really....

Thanks for clearing up the doubts on this!
Easy markets has been around for a long time .

I wouldnt call them a scam broker because they offer a new product.

Easy markets offer vanilla options so I'm guessing they have dumbed that down for the average retail punter into an insurance format.

Quite clever.
The broker must have done an analysis of how much a trade would move within the first hour. It must be profitable to them to make this kind of offer.
As it has been mentioned by "Artcool" in the linked thread, this is equivalent to buying an option. Nothing looking like a scam or anything there.
To call it "CANCEL" a trade is a bit misleading, but except that, nothing really special.
Quoting wizlon32
{quote} But you have to pay it up-front. So when you win you have to win that bit more to cover this fee. And if you get in to the habit of taking this "insurance" you will be stacking even more odds against you in the long run. They are not stupid. If this was an advantage to the retail trader they would not be offering it. It's a gimmick!
You are 100% correct
  • Post #36
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  • Last Post: Jun 11, 2019 8:44pm Jun 11, 2019 8:44pm
Sometimes they also cancel winning trades
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