PositiveInput
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Good day all, can the forex traders out there give me the names of a few safe, secure and trustworthy forex brokers?
Reputable and trustworthy brokers
- Thread starter PositiveInput
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There's no such thing as a trustworthy forex broker.
PositiveInput
Newbie
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Well then who is the most popular, who do you use?
I wouldn't trade forex, it's open to abuse by brokers. Just google 'FXCM fine' or 'Gain Capital fine' and you'll get some idea about how these companies operate.
PositiveInput
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I use 1:2000 leverage with Exness and trade with the same lot but smaller margin
Too funny
alan5616
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We can now add this lot to our, ever growing, list of rip off merchants.
NFA hits FXDD with multiple charges including asymmetric slippage, fine will cost it over $3.5m | Forex Magnates
I no longer trade forex as there are too many of these scam artists out there. It's good to see that the NFA are prepared to take action. Here, in the UK, we have nobody to investigate the market makers, and spread bettors, who are cheating their clients every day. Please don't anyone say the FSA. The Joke of the Day thread is somewhere else on the forum!!
rsh01
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Is that enough leverage?
rsh01
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Even if you didn't work for them you would say the same?
rsh01
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All financial markets are fixed in one way or another - its well documented all over the place and even in MSM. As wackypete mentioned in another thread you need to be aware of how this may affect your trading and either work around it (if you can), or look for a more suitable market.
I find manually exiting (market order) removes the main risk in getting an SL triggered unfairly by 'accepted' SB slippage.
alan5616
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Last edited:
SimonTemplar
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I am with ETX Capital in the UK, in my third year with them and very happy with the service, withdrawals etc.
Marty Stevens
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What's the point of 2000:1 leverage?
Assuming a 1.5 pip spread, opening a position at full margin would instantly kill 30% of your account in spread costs alone.
I don't know any professional trader who uses high leverage. The big firms use even less.
Year in and year out, the big firms and true professionals survive and profit, but retailers like us die off at a very high failure rate.
Think about that.
Assuming a 1.5 pip spread, opening a position at full margin would instantly kill 30% of your account in spread costs alone.
I don't know any professional trader who uses high leverage. The big firms use even less.
Year in and year out, the big firms and true professionals survive and profit, but retailers like us die off at a very high failure rate.
Think about that.
jungles
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Best retail broker, go with FXCM.
Why?:
1] NYSE listing and Ernst & Young auditing
*promotes transparency and accountability in terms of organisations financial health,
and trade environment (feed, spreads, fills etc) for traders
*remember, CFTC and NFA fines relate to activities conducted prior to public listing
2] CFTC and NFA fine FXCM
*fines force transparency and integrity in price feed and trade order execution
3] Trading Station is one of the better retail forex platforms and it’s free
4] good spreads as an active trader or off the dealing desk
*don’t get your knickers in a knot, read FXCM’s definition of a dealing desk first
5] 200:1 margin
*for most traders higher margin increases risk, for me it decreases risk
6] excellent customer service
7] there are successful traders using them, here is just one
.
Why?:
1] NYSE listing and Ernst & Young auditing
*promotes transparency and accountability in terms of organisations financial health,
and trade environment (feed, spreads, fills etc) for traders
*remember, CFTC and NFA fines relate to activities conducted prior to public listing
2] CFTC and NFA fine FXCM
*fines force transparency and integrity in price feed and trade order execution
3] Trading Station is one of the better retail forex platforms and it’s free
4] good spreads as an active trader or off the dealing desk
*don’t get your knickers in a knot, read FXCM’s definition of a dealing desk first
5] 200:1 margin
*for most traders higher margin increases risk, for me it decreases risk
6] excellent customer service
7] there are successful traders using them, here is just one
.
