Forex.com was my 1st so called 'broker'. 2004 ? maybe. It took me less than 30 days to close account. Some of the worst forex service out there then. Being based in NJ never helped.
FF = Forex Faggots
Have your ever heard about latency arbitrage? 137 replies
High speed traders - a history of latency arbitrage since 1790 1 reply
Latency Arbitrage in Metatrader 0 replies
broker latency studies 0 replies
Broker Server Latency 0 replies
Disliked{quote} All Retail forex brokers are casino, not just forex.com what do you think you are buying or selling? Physical currency? Of course it is not. Unlike stock trading where u can request a certificate of shares u own. U never ask your retail broker/dealer to show the currency u sold or bought because they never existed!! Think of it. It is just a online casino game. Many brokers accept deposit/withdraw from SKRILL, which is linked to poker games and gambling. What is the difference between online gambling and online forex trading. There is not...Ignored
DislikedI have a question. How many would you agree that the second you enter your order into the market, they know; what your stop loss is. If you use Leverage you have an automatic stop loss; called margin call. Without leverage a regular joe, wouldn't be able to enter an order into the market. Most people let losses run for thousands in pips, imagine how many pips you would of won going the opposite way of your Bias. Here is proof of people holding onto thousands of pips in red. {image}Ignored
Disliked{quote} If they use what is called a "Virtual Dealer Plugin" in MT4, they know EVERYTHING that you do in your account the SECOND that you do them, your trade entry price, stop-loss, tp target. And on top of that, they of course know all of your account information like how much money you have left in your account and the margin that you face and etc. With all that information, they know EXACTLY how much pain you can take and the approx. amount of risk that you are willing to take and with the Virtual Dealer Plugin, they can hunt your stop,...Ignored
Disliked{quote} Knowing all that, do you still trade live ? If yes then do you have a way to avoid all those scary things you mentioned above ? If we are that much at the mercy of brokers there is no point to keep on trading.Ignored
DislikedI've received their final reply. shameless fraud. Dear Mr. Yun, After a review of your account, your complaint is not upheld and we now consider this matter closed. If you are unsatisfied with our decision on this matter, you may refer your complaint to the Financial Ombudsman Service within six months from the date of this email. http://www.financial-ombudsman.org.u...complaints.htm Sincerely, {image} Stephanie Bromm, Compliance Manager | GAIN Capital Forex.com UK Ltd. d: UK +44...Ignored
DislikedI'd just like to point out, that whether you use MT4, tradestation, FxTrade, Ninjatrader, CTrader...it doesn't really matter. The broker still has back office control. They can still widen spreads, still affect latency and still requote you. Essentially a platform is just a GUI. The function is still the same, they still receive quotes from LP's via a bridge, and their in house software then processes the quotes into the platform. Arguably MT4 is more open to corruption due to it's very nature, but using another platform won't make all these things...Ignored
Disliked{quote} You should report this to NFA and other Regulators in UK, so Regulator aware and investigate correctly on this matter.Ignored
Disliked{quote} And this is WHY I don't use SL and just monitor my trades and close them manually when necessary.Ignored
QuoteDislikedHe already did. He reported this to the FCA in UK, one of the toughest regulator in the world and this is the response that they gave him, completely siding with forex.com.
I am not sure if NFA would even bother to listen to him since he's not a USA citizen and his account is not with forex.com in US.
DislikedIn Australia, it does not matter what the terms and conditions are, they have to be fair. Brokers can put what they want in the PDS, if it is not fair, it will be voided by FOS. I guess that is the difference between regulators. Traders prefer FCA regulated brokers because of the 50K pound guarantee etc. There is no such guarantee in Australia (as all guarantee comes at a cost). Before the GFC, australian banks do not have any gaurantees since they don't need one. But when every country starts having guarantees during GFC for their banks, Australia...Ignored
DislikedIt doesn't matter who he reports this to, there will be no resolution. He will be unable to prove his case, and the broker is acting within the small print of their agreement. People should understand that regulation, even in the highest categories is extremely limited. Mostly all it does is restrict how the broker segregates your funds, anti money laundering policy, and dictates how much operating capital they are required to have. Due to the small print agreements we all agree to with live accounts, there is precious little any regulator can do...Ignored
Dislikedmmswe, each trader need to evaluate which broker is best depending on his/her trading style, I choose my Australian broker based on the criteria in this order: 1. zero cost to deposit & withdraw ( to Aussie banks) - I was surprised some not homegrown Aussie brokers charge for local withdrawal !. 2. Has Bpay facility to deposit. For those traders intending to use Australian broker, fly to Aus and open a bank account here. Do not use internet banking to fund, use Bpay. Bpay is a Australian wide vendor payment facility. Vendor receive a file each day...Ignored