AudreyTautou
Newbie
- Messages
- 1
- Likes
- 0
To become a successful trader, it’s necessary to choose a broker that is experienced and trusted!! I have been trading with VolumeFX and these guys are wonderful!! You can check out their website volumefx.com!
hatemypips
Established member
- Messages
- 697
- Likes
- 62
yes you traded with a scam and make a fortune. What a perfect story but well you could draw attention maybe 5 years ago, these tricks are dead now
Is forex bonus is good? Does that broker offer?
hatemypips
Established member
- Messages
- 697
- Likes
- 62
How can you prove that they have different spreads? Why spreads has to differ for different traders? I think broker has no right to adjust spreads according to trading styles simply because asymmetric transaction costs create distortions. Only market can decide if HFT will get higher spreads and its solely because of its high activity.
James turtle
Junior member
- Messages
- 36
- Likes
- 4
I know Turnkey Forex as i have my account with them. They are pretty good. Spreads and Commission are quite low.
alexwinkler
Experienced member
- Messages
- 1,308
- Likes
- 17
I've been using TD for years now and although I've tried many new platforms I've never fully left TD.
TOS stole my heart
TOS stole my heart
There are many local onshore brokers like oanda, fxcm etc are offering services to US citizen and some offshore brokers like lmfx etc can also be a good option in my opinion.
Me too, basically trading with them because of spreads, makes scalping easy. No problems faced so far, everything has been smooth. The only issue I have with them, is they stopped bank wire transfers, though got to learn about cryptos and all because of that, which opened another field for earning for me. All in all, I agree pretty good broker.
hatemypips
Established member
- Messages
- 697
- Likes
- 62
Very odd name for broker but I hope everything is ok besides this. Do you have experience with other brokers to compare or you prefer to avoid experimenting?
yes i do have few other brokers currently but main account is turnkeyforex, all good here
bhagesh.nair
Junior member
- Messages
- 26
- Likes
- 3
You must be new
hatemypips
Established member
- Messages
- 697
- Likes
- 62
And you must be old
and know everything. Let's use proper arguments, stop showing this kind of arrogant behaviour because it is unproductive.
bhagesh.nair
Junior member
- Messages
- 26
- Likes
- 3
Sorry, if i came across as arrogant mate.And you must be old
But your statement in the earlier post really seemed like that of a noob.
You really think spreads are not manipulated by the brokers and liquidity providers?
hatemypips
Established member
- Messages
- 697
- Likes
- 62
Clarify what you mean under manipulation? For liquidity provider spread is a function of supply and demand, they have to deter buyers or sellers from entering into trade somehow when sudden buying or selling imbalance appears and grows quickly. And they do that by widening spread. When they see that interest fades and conditions return to normal they decrease spreads attracting traders. This is the essence of market-making business - offer bid and offer price while making sure they won't find themselves on the wrong side of the market.
bhagesh.nair
Junior member
- Messages
- 26
- Likes
- 3
Well thanks for explaining the essence of the market making business for all the readers.
But in the real world scenario, the number of traders engaged in any trade is insanely high.
And we are specifically talking about retail traders here on this forum, and by manipulation i mean The broker can manipulate trade executions of traders at will with their liquidity providers, depending on their account size using their execution platform.
If you trade with multiple brokers yourself, i am sure you are aware of the trading rates offered by brokers to retail traders.
Some offer marked up spreads + Commissions. Some offer raw spread but charge a commission per million.
So many brokers and so much choice at the moment it depends what you are looking for in a broker and what you are trading look around before you sign up!
hatemypips
Established member
- Messages
- 697
- Likes
- 62
And how can we tell apart fake broker from a genuine one? Do you have any advice or examples on this account?
bhagesh.nair
Junior member
- Messages
- 26
- Likes
- 3
Every broker is a market maker as long as they have their dealing desk.
However some brokers claim they do not execute trades on the dealing desk and are 100% STP/ECN, but you can never be sure of this.
Try and do some research online, read some reviews, find out about the bodies that regulate the brokers business.
Every broker pretty much offers the same service, for me personally, the most important factor is customer support. Regardless of the execution time or how good the spreads of the broker are, i wouldnt work with the broker if their customer support is shit.
So to sum things up, work with a highly regulated broker that has good reviews online on genuine and unbiased platforms. And see to it that the customer support of the broker is kickass.
