Reputable and trustworthy brokers

[The Leopard]

I had to start out there. I did not have the money, or the experience to start out BARX, which is where I ended up before getting to FXAll. I was basically cash poor and a good Student of trading.

I think the thing that helped me, was my insistence on designing the perfect trading system that never failed. Later, I learned that such a system would NOT be within my intellectual reach (lol), but spending all that time honing my custom indicators to a razors edge of performance, meant that they ended up being high performers once I learned how they really were supposed to be used. After that, I integrated them into a full blown trading system.

So, pushing for perfection (through complete ignorance), ultimately forces the best indicators and thus the best trading system to the surface. With that, I was able to graduate out of Retail Bucket Shop Hell.

Similar story, I started out 'trading' indices with a UK bucket shop (spread betting company).

Obviously I've moved on to DMA with an actual broker.

In hindsight though it would have been better to go straight to a broker and just trade a 1 lot and build up from there. I didn't because I was worried about position sizing.

 

[kimo'sabby]

I reckon this site is riddled with SB employees. Can T2W do anything about it,...probably not.

 

[The Leopard]

I reckon this site is riddled with SB employees. Can T2W do anything about it,...probably not.

Would they want to if they could? I don't get adverts any more (adblock plus) but I'd imagine there are SB ads all over the site.

That said, I must be fair to T2W. It's nothing like as bad as Babypips.

 

[kimo'sabby]

Would they want to if they could? I don't get adverts any more (adblock plus) but I'd imagine there are SB ads all over the site.

That said, I must be fair to T2W. It's nothing like as bad as Babypips.

Nearly everybody on T2W, has a 'technical edge', based on arbitrarily annonated charts. Wonderland, or is there something else going on?

 

[The Leopard]

Nearly everybody on T2W, has a 'technical edge', based on arbitrarily annonated charts. Wonderland, or is there something else going on?

I don't know about other people. My own approach is the Slooplappy method, which involves trading after the event from the left side of the chart.

Usually get about 300% per trade.

 

[kimo'sabby]

I don't know about other people. My own approach is the Slooplappy method, which involves trading after the event from the left side of the chart.

Usually get about 300% per trade.

 

[ChocolateDigestive]

I don't know about other people. My own approach is the Slooplappy method, which involves trading after the event from the left side of the chart.

Usually get about 300% per trade.

kin too right. plenty of nasties on here are a fan of the left hand side of the chart. I call it 'the hard left edge'

now where's that coin I should be a flippin. fooking genius

 

[TraderNumber7]

Would they want to if they could? I don't get adverts any more (adblock plus) but I'd imagine there are SB ads all over the site.

That said, I must be fair to T2W. It's nothing like as bad as Babypips.

I just got what you guys were talking about, "SB."

I thought you were misquoting the firm SMB Capital, and just leaving out the "M" and the "Capital."

Now, I know what you mean. We just used to call it Saxo.

 

[TraderNumber7]

I spelled principles incorrectly - I meant: Principal and Principals, etc., etc.

 

[The Leopard]

I just got what you guys were talking about, "SB."

I thought you were misquoting the firm SMB Capital, and just leaving out the "M" and the "Capital."

Now, I know what you mean. We just used to call it Saxo.

Sorry, SB short for spread betting.

 

[alan5616]

This has just been posted on a private members forum. Looks like another cowboy outfit to steer well clear of.

"Just an FYI... a popular trading book service, Myfxbook, was running a contest sponsored by a dealer, Commexfx. Personally, I've never even heard of this dealer but they must be pretty bad. It seems enough traders pooh-poohed the sponsor to get Myfxbook to cancel the event until they find a different sponsor. You may want to blast this out if you haven't already done so. A quote from Myfxbook.com follows:

"Latest Contest Cancelled
August 5th, 2012 We’ve been getting a lot of emails from concerned members regarding the sponsor of the contest (Commexfx), who notified us of several worrying reviews on other websites (which we weren’t aware of). After a long discussion, we’ve taken the unusual step of cancelling a contest.

We would like to thank all of the members who notified us with this situation and would like to apologize for the inconvenience.

On the same note, a new contest will be announced next month, which you’ll be able to register for.

The Myfxbook team."

 

[TraderNumber7]

Sorry, SB short for spread betting.

Then, I've still got it wrong - but of course, knew about "Spread Betting."

I must have fallen behind the times on the lingo. However, I consider stuff like Spread Betting a form of Retail Market (Cocaine-like) abuse. Not that I would know anything at all about cocaine, but I do watch the 6'O'clock news from time to time.

Its like a naked Call or Put contract, except you don't get the benefit of capping your losses at the premium paid, unless you use a stop - in which case you add to the aggregate risk taken, by way of increasing the potential frequency of getting stopped out (by definition).

[you can actually reduce the aggregate risk taken by not using a stop as a method for preserving capital, but by using a reversal signal. however - that's not material to this thread]

Anyway, thanks for the education on the lingo! Now, I know that you guys are not talking about Saxo Bank (SB).

 

[pboyles]

This has just been posted on a private members forum. Looks like another cowboy outfit to steer well clear of.

"Just an FYI... a popular trading book service, Myfxbook, was running a contest sponsored by a dealer, Commexfx. Personally, I've never even heard of this dealer but they must be pretty bad. It seems enough traders pooh-poohed the sponsor to get Myfxbook to cancel the event until they find a different sponsor. You may want to blast this out if you haven't already done so. A quote from Myfxbook.com follows:

"Latest Contest Cancelled
August 5th, 2012 We’ve been getting a lot of emails from concerned members regarding the sponsor of the contest (Commexfx), who notified us of several worrying reviews on other websites (which we weren’t aware of). After a long discussion, we’ve taken the unusual step of cancelling a contest.

We would like to thank all of the members who notified us with this situation and would like to apologize for the inconvenience.

On the same note, a new contest will be announced next month, which you’ll be able to register for.

The Myfxbook team."

Reincarnation of PrimeFX who were notorious.

http://www.forexpeacearmy.com/forex...mari-prime4x-return-commexfx-commextrade.html

 

[ChocolateDigestive]

here is a glimpse into how the 1%ers trade. that's spot euro, you can see all the liquidity, Goldman, JPM, BOA, Nomura, BNP etc. At this moment in time you will see the best bid/offer is a 0.5pip spread, normally goes lower, sometimes to zero. rofl.

this is why people loose among other more re7arded reasons.

 

[neil]

Quote:
Originally Posted by jungles
5] 200:1 margin
*for most traders higher margin increases risk, for me it decreases risk

Below post by Trader7

For most Nubes, 200:1 is total suicide! If you miss the exit ramp on a Swing Trade, you can kiss your account goodbye. If you day trade at 200:1 and you are not trading with high accuracy to a very specified target, then you can expect your Stops bleed out your account.

You have to be either a very accurate Day Trader, a Swing Trader with lots of time on their hands when things go wrong, or a Scalper who understands how and where they should place their order for maximum momentum follow through. And, your Cost Basis per trade needs to be extremely low - or you had better really know what you are doing with higher CB risk.

Using 200:1 as a reason to trade with a Bucket Shop like FXCM and all the others, is really telling.


He's right. Even Oanda will not let you go above 50 to 1 Leverage. ( I am biased in that I think Oanda is one of the better shops out there if you really must deal with one)

 

[awesomo4k]

I know it's a bit late, but I've been happy with MBTrading. Hardly any technical glitches and user friendly. Let me know if you have any questions. MB Trading also decreased their commission rate by 15% from 2.95 to 2.50. Good luck!

Good day all, can the forex traders out there give me the names of a few safe, secure and trustworthy forex brokers?

 

[neil]

There are many fx broker in currency market. But it is true to say that not all broker are reliable. Most of the brokers wants to gain money but For Forex-Metal is quite different. That is very trustworthy. I am with it after a long time

spammer

 

[nginx]

I just check on the trip advisor for brokers, give me a re quote and I'll flame them with a bad review! : toptradingbrokers.com

why not show your brokers how you really feel!!

 

[FringFX]

I'd go for MF global myself - HUGE company - regulated by FSA - customer funds held in segregated accounts.. get through the audit every year..

you should check out their auditing firm.... it's really huge

 

[FringFX]

here is a glimpse into how the 1%ers trade. that's spot euro, you can see all the liquidity, Goldman, JPM, BOA, Nomura, BNP etc. At this moment in time you will see the best bid/offer is a 0.5pip spread, normally goes lower, sometimes to zero. rofl..

which one is it, Choco?