Quote:
Originally Posted by JoseLeon
Yes, and many of them (even great ones) scam you in many other different manners. Itīs not the same but nowadays forex traders must be careful in which broker they are going to trade  |
Yep, well said Jose. I always tell people, when they get good and have a strategy that give out consistent profits to do themselves a huge favor and look into ECN brokers.
Unfortunately for the small retail forex trader this option is not viable due to sometimes high minimums and a commision structure that makes it expensive to trade with small accounts.
I know that MB Trading for example lets you open an account with like $400 +/-
so some of you folks may wish to look into them.
Right now my bucketshop portfolio is as follows:
InterbankFX
Alpari
FXDD
Yes although Alpari is among the supposed best, they are still a dealing desk forex broker and yes they do engage in trickery. It happened to me once when I opened a large position of 1 lot (yes 1 standard lot) with a SL at the opening price. The price went above a few pips but then the server disconnected me for 1 second but enough to take out my stop loss. Then guess what happend, the EUR/USD rallied 180+ pips. I would've made $1800+ on that move.
I would've not been suspicious of that disconnect had it not happened 1 second after I opened the position. To me I think what happend is that they noticed my position and it just happen to be that it was counter to what the broker's position was and saw too that I was gambling a bit (with a stop loss placed at the opening price) and took me out immediately.
Those brokers which say they have no dealing desk use software which takes over a traditional dealing desk's role.