Please Share your Experience with Thinkforex ECN Broker? Are they ECN and Reputable?

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moyes

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I am currently using the demo on Thinkforex as they claim to be ECN for scalping purposes. The only issue is at times it takes about 5 seconds for an order to go through.So far they seem alright but I would like to hear from someone that has a live account with them to share their experience.

Please also recommend any other broker that is good for scalping?
 
Hi Moyes,
From my past trading experiences, I recommend "FXTG” is a good online trading broker as they provide several trading services (e.g. CFDs, Indice, Energy and Commodity), 1 pip fixed spread, first deposit with 30% bonus and Electronic Community Network with low commission, which are valuable offers when people are starting out. The other benefit they offer is "Guarantee Stop Loss" order without any commission charge. Final, there are three types of trading ways for traders to use, such as Wireless Trading, Web Trading and Mobile Phone Trading platforms. Actually it depends on the needs of the trader.

Go and have a look the information on their website: FXTG - Forex Trade | Forex | Foreign Exchange | MetaTrader | Online Forex Broker
Good luck with your trading
 
Rickyang62 said:
Hi Moyes,
From my past trading experiences, I recommend "FXTG” is a good online trading broker as they provide several trading services (e.g. CFDs, Indice, Energy and Commodity), 1 pip fixed spread, first deposit with 30% bonus and Electronic Community Network with low commission, which are valuable offers when people are starting out. The other benefit they offer is "Guarantee Stop Loss" order without any commission charge. Final, there are three types of trading ways for traders to use, such as Wireless Trading, Web Trading and Mobile Phone Trading platforms. Actually it depends on the needs of the trader.
Click to expand...

Rickyang62

You have posted 7 posts in different threads the one day since you joined. EVERY ONE of those 7 posts are promoting FXTG. You are an obvious shill

Some of those 7 posts were responses to Dorothy Dix questions about brokers, so I am assuming that you are also using the dishonest method of using multiple nics here on the forum to attempt to market this dubious FXTG group.

Perhaps you would like to tell us what the licence number is for FXTG since there is none on their website (which is a breach of the Australian Securities law).

Also, why don't you tell us who the Directors of FXTG are. Also the Management of the Company. Since the Directors and Executive Management details are also missing from the website

If you do NOT post it here, I can only assume that this is another scam broker and I will forward a copy of these details to the Australian Securities and Investment Commission ASIC ( http://www.asic.gov.au/asic/ASIC.NSF/byHeadline/financial services compliance)
and the Office of Fair Trading ( http://www.fairtrading.nsw.gov.au/default.html )for follow up.
 
Last edited:
There is no such thing as a reputable forex broker. Forex brokers fall into two groups, those that have been fined for defrauding their clients and those that havnt been caught yet.
 
moyes said:
I am currently using the demo on Thinkforex as they claim to be ECN for scalping purposes. The only issue is at times it takes about 5 seconds for an order to go through.So far they seem alright but I would like to hear from someone that has a live account with them to share their experience.

Please also recommend any other broker that is good for scalping?
Click to expand...

5 seconds is not ecn 5 milliseconds is

look at my thread finfx-is it as good as it looks?

your opinion about this broker could be very helpful

still hesitate to move my acct there and wait for more info

from those who have live accts

regards..........
 
zammitman said:
Rickyang62

You have posted 7 posts in different threads the one day since you joined. EVERY ONE of those 7 posts are promoting FXTG. You are an obvious shill

Some of those 7 posts were responses to Dorothy Dix questions about brokers, so I am assuming that you are also using the dishonest method of using multiple nics here on the forum to attempt to market this dubious FXTG group.

Perhaps you would like to tell us what the licence number is for FXTG since there is none on their website (which is a breach of the Australian Securities law).

Also, why don't you tell us who the Directors of FXTG are. Also the Management of the Company. Since the Directors and Executive Management details are also missing from the website

If you do NOT post it here, I can only assume that this is another scam broker and I will forward a copy of these details to the Australian Securities and Investment Commission ASIC ( Australian Securities and Investments Commission - financial services compliance)
and the Office of Fair Trading ( NSW Fair Trading: Homepage )for follow up.
Click to expand...

zammitman,
I have checked this broker out and there AFSL is on there site it is located on the footer, for your reference the license number No is 290108, They are regulated I trust them as there in Melbourne like me, plus I have been burnt by many brokers in the past, since my nature is to think positive this is why I would rather talk about good brokers rather than steering on bogus brokers.
 
Rickyang62 said:
zammitman,

I trust them as there in Melbourne like me, .
Click to expand...

I have no doubt that you are probably one of them

Why don't you tell us who the Directors of FXTG are.
Also who are the Management of FXTG .

Also why not tell us the employment histories of the Directors and Management so that we can see the quality (or lack of ) of their work.

Those details are suspiciously missing from the website
 
zammitman said:
I have no doubt that you are probably one of them

Why don't you tell us who the Directors of FXTG are.
Also who are the Management of FXTG .

Also why not tell us the employment histories of the Directors and Management so that we can see the quality (or lack of ) of their work.

Those details are suspiciously missing from the website
Click to expand...

zammitman,
sorry, I don't know their Directors and Management because I am not working there.
I have several trading accounts, such as GFT and CMC, I only trade with the reliable broker for my investment.
Thank you for your reply
 
Rickyang62 said:
zammitman,
sorry, I don't know their Directors and Management because I am not working there.
I have several trading accounts, such as GFT and CMC, I only trade with the reliable broker for my investment.
Thank you for your reply
Click to expand...

If you only trade with the reliable brokers (GFT and CMC) AND you are not working for FXTG, then why are you spruiking such a dubious group as FXTG?
Rickyang62 said:
From my past trading experiences, I recommend "FXTG” is a good online trading broker
Click to expand...


And, if you have checked out FXTG (as you said that you have because they are in the same city as you (Melbourne), then why do you not know who the Directors and Management are?
Did they say their names or do you normally actively promote and spruike for companies where the staff have not told you their names?
 
pboyles said:
There is no such thing as a reputable forex broker. Forex brokers fall into two groups, those that have been fined for defrauding their clients and those that havnt been caught yet.
Click to expand...

:LOL::LOL: Give FXTG some time. They are only very new. :LOL::LOL:
 
Hi and thanks for the replies with regards to Thinkforex broker. Im not interested in FXTG broker.....sounds dodgy to me!

Im trying to find out if anyone has/had a live account with Thinkforex and what the person thinks of them?

My other options that I would consider based on research would be Vanatgefx, Dukascopy and MBtrading in the UK. They seem well regulated etc but since Thinkforex is closer to home ie New Zealand I thought I would try them out. It would be great if anyone could please share their expeirence with Thinkforex as there arent anough reviews online to make a proper call whether they are worth a try.

Look forward to a few replies. Thank you.
 
From a trader on FPA:

They are bucket shop scam broker, they stop hunt and bet against you. checkout here Resolved | ThinkForex Stop Hunt Issue Exhibit N 1

From Ayum, trader on FPA:

I admit that they did some improvement to their depth of market information because the board comes to show not "0.0K" anymore but ALWAYS SHOWS "3.0M" now for both bid and ask of each currency pair, and when changing either bid or ask becomes "5.0M" for a moment and goes back to "3.0M".

Still ridiculous. It is still not useful for trading at all.

Before not so. The total amount shows bigger amount as "17M" once even "60M" was seen and fluctuating continuously .

If they can not repair fully to their former level, it shows their liquidity becomes so little and which is risky for us traders.

2013-01-06 2Star They quit offering usable market depth information with one-click tool at least to me.

Till last week using one-click tool at pro account, I could see order price variation and total order amounts for bid and ask for each currency pair respectively, which was very useful for my trading.

But sometime before NY close of last week, I noticed something strange about the tool, because suddenly the total amount shown on the tool became very little, then the price varilation listed on the tool became out of order.

I thought it might be cause by sluggishness of the stock market at that hour, and hoped would be OK on Monday.

But even Monday today the tool has been showing total order amount for eur/usd is 0.0K and there is no price variation.

Rediculous.

I contacted with their support, but no result.

I am very much disappointed at this.

If they do not offer the market depth information, they can not be a real ECN broker.

I want to know this is caused whether by their strategy change or by personal interference to my trading.

If it is caused by their strategy change, maybe I should go back to Japanese broker.

Friends, if you are also a user of the tool, please inform me whether the tool still offer you useful market depth information .

please let me inform ThinkForex HAS there TRADINGDESK department.

I did not understand what their tradingdesk department's task is
if they are NDD.

I want to see how they reply to this.
 
STINKForex (ThinkForex) are NOT ECN by any stretch: they are market makers, Bucket Shop, Boiler Room BEASTS. They lie, steal, manipulate and sabotage you from the get go. They have a Dealing/Trading Desk even though they lie repeatedly and say they do not.

The Virtual Dealer in their MT4 platform is turned on and they trade against you all the way. Please watch this video to understand what they do: http://www.forextradingwork.com/selecting-the-forex-broker.html

Stephen says that some counterfeit ECN brokers may not actually have a Dealing Desk, but STINKForex does. You cannot trust them at all. They shall be sued and go down to Hell.

Zammitman on this board is right to demand the names - THE NAMES - of those in management and directorship on any brokerage. STINKForex won't give you such names, even the names of those who sabotage your account like Neha refused to give me when I demanded to speak to those in the "Compliance Team" who sabotaged my account. But God knows exactly who these devils are and I curse them to Hell. Join me in cursing them and all market maker brokers who lie, steal and destroy like their father the Devil.
 
I have a new account with ThinkForex as well as a couple of other brokers and have had no issues. I have actually found ThinkForex customer service to be the best, even withdrew some recent profits.

Talking about specific brokers aside, I think it is time that all of this speculation on Market Makers and false ECNs and other wild misinformation (the link above being a fine example of bad information) be put to rest. The truth is none of it matters. If you use a disciplined risk management program and do not over leverage and overtrade there is no level of manipulation (perceived or real) that can impact you. You can never lose more than you risk.

Yes price spikes do happen as a result of complex technologies working together. As with all technologies there can and will be glitches. Even NASA doesn’t get it right 100% of the time. What most traders fail to understand is that when a price feed has a glitch, most times on the LP side, your broker becomes aware of it after the fact and is taking steps to resolve any accounts impacted. Instead of jumping on chat, sending in angry emails, or running to the nearest forum you should stop and pause and wait at least 24 hours to see if your broker resolves the issue and adjusts any impacted accounts.

The final fact is, it does not matter who the counterparty is to your trade. No broker, regardless of their execution model, needs to manipulate client trades. They make plenty of profits by simply providing a service and earning profits based on spreads and commissions where charged. Yes in the early days of Forex trading there were bad outfits that did bad things but that is the past and does not represent the industry as a whole. Here in the present, where there is wide competition for clients and client retention, customer satisfaction is critically important. They want to retain clients over a long and mutually beneficially relationship.

It is time to stop focusing on unproven conspiracies and focus on the art of trading….yes it is an art that requires education, experience learned from gains and losses, and a disciplined approach to trading supported by a firm risk management system. Any trader who fails to realize this and take it to heart will fail in trading in the end.
 
LogicalTrader said:
I have a new account with ThinkForex as well as a couple of other brokers and have had no issues. I have actually found ThinkForex customer service to be the best, even withdrew some recent profits.

Talking about specific brokers aside, I think it is time that all of this speculation on Market Makers and false ECNs and other wild misinformation (the link above being a fine example of bad information) be put to rest. The truth is none of it matters. If you use a disciplined risk management program and do not over leverage and overtrade there is no level of manipulation (perceived or real) that can impact you. You can never lose more than you risk.

Yes price spikes do happen as a result of complex technologies working together. As with all technologies there can and will be glitches. Even NASA doesn’t get it right 100% of the time. What most traders fail to understand is that when a price feed has a glitch, most times on the LP side, your broker becomes aware of it after the fact and is taking steps to resolve any accounts impacted. Instead of jumping on chat, sending in angry emails, or running to the nearest forum you should stop and pause and wait at least 24 hours to see if your broker resolves the issue and adjusts any impacted accounts.

The final fact is, it does not matter who the counterparty is to your trade. No broker, regardless of their execution model, needs to manipulate client trades. They make plenty of profits by simply providing a service and earning profits based on spreads and commissions where charged. Yes in the early days of Forex trading there were bad outfits that did bad things but that is the past and does not represent the industry as a whole. Here in the present, where there is wide competition for clients and client retention, customer satisfaction is critically important. They want to retain clients over a long and mutually beneficially relationship.

It is time to stop focusing on unproven conspiracies and focus on the art of trading….yes it is an art that requires education, experience learned from gains and losses, and a disciplined approach to trading supported by a firm risk management system. Any trader who fails to realize this and take it to heart will fail in trading in the end.
Click to expand...

Calling me a liar, now are you? The only liar I see is you. A paid shill for the criminals at STINKForex run by the filth Nauman Anees et al.

Changing my leverage from 500:1 to 100:1 in mid-trading with open trades in order to sabotage and traumatize me and my trading is nothing less than conspiratorial and criminal.

The reason I have taken great efforts to warn others about STINKForex is that I wish I had seen such warnings before I chose to use their criminal outfit of ****.

The STINKForex damage team has censored my Public Complaint as often as possible. They have also continued to lie and say that they never gave me 500:1 leverage, much less admit to changing it in mid-trading to cause Stop Loss Hunting and sabotage. The facts prove them to be the criminals I continue to expose and warn against.

Here is a recent comment from an insider at STINKForex which further vindicates what I have said as soon as I found out about their wickedness:

Comment by Disillusioned ThinkForex Employee:
ThinkForex is a dealing desk brokerage. They slip your trades and adjust your account because they are not making commission off your trades, they are collecting your "losses" into the pockets. They will vehemently deny that they are a dealing desk and even most of their employees in the dark regarding this. Ask about their liquidity partners, however, and they will give you the run around without any clear answers.

The company also takes deposits into customer accounts and uses them to fund daily operations and BMWs. The awards they flaunt ('Fastest Growing FX Broker' and 'Best Forex Customer Service') were purchased and are meaningless.

They also illegally operate out of the US (111 W Jackson Blvd Chicago, IL), which is where Nauman, Faisan and most of the team are based. Nauman Anees is the evil mastermind and Faisan Anees is the mentally delayed side-kick. When they run out of money, they simply "go out of business" and open again under a new legal name. They have already done this at least 2x that I am aware of.

Good luck working with the "regulators." You're never seeing that money again.​

Lying, Deceiving IllogicalTrader: Take your lies and **** off back to the dark hole from when you came.
 
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What you see is irrelevant. You should get your glasses checked. I'm a independent trader and educator but if you would prefer to believe i come from the "dark side" - not sure what that means" ill have to re watch Star Wars to see if there is some insight to be had" - then by all means have that belief.

Everyone has a right to be crazy.
 
LogicalTrader said:
What you see is irrelevant. You should get your glasses checked. I'm a independent trader and educator but if you would prefer to believe i come from the "dark side" - not sure what that means" ill have to re watch Star Wars to see if there is some insight to be had" - then by all means have that belief.

Everyone has a right to be crazy.
Click to expand...

The only "crazy" one we see is you and your partners in crime.

Those that justify lying, thieving criminals like those at STINKForex (Nauman Anees, Gang Leader, et al) are abominations.

Now, shut up and spue your filthy bilge elsewhere. We've had quite enough of souls like yours.:mad:
 
moyes said:
I am currently using the demo on Thinkforex as they claim to be ECN for scalping purposes. The only issue is at times it takes about 5 seconds for an order to go through.So far they seem alright but I would like to hear from someone that has a live account with them to share their experience.

Please also recommend any other broker that is good for scalping?
Click to expand...

Thinkforex isn't a real ECN.
It is shame that brokers now class themselves as an ECN model when clearly they are not.
I am from Dubai and I only trade with UK brokers. However all of them are doing the same.
From my research and experience (I have accounts with so many brokers) I have found only 4 in the UK that are actual ECN brokers.
So even in a country where there is so much regulation and the rules are upheld strictly, companies can still get away with offering a service that they clearly are not.
Even those calling themselves an Exchange (LMAX) claim to be ECN. How can they be when some of their liquidity providers are market markers!
FXCM claim to offer their retail liquidity into their ECN. So how is still an ECN?!
This industry has become more confusing than ever.

Rant over, sorry.

I use 2 main companies, one runs an high frequency algo (similar to scalping) and both companies have been very good.

Please be careful who you trade with, end of the day, it is your money at risk
 
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