Thread: Forex Club

Originally Posted by ;

I've got a query, as they don't have the NFA minimum requirement of 5 millions, is it ok to exchange together?

I could be wrong on this but beginning from May 19th, 2009 the capital requirement will be raised to $20,000,000.00. So you might want to get hold of them (their live chat tech support was not have the ability to answer this) and ask them how this may affect their performance. I'm still waiting for a reply from their financial division.

IMO A brokers fiscal health can be evaluated (to some extent ) by simply taking a glance at the adjusted net capital. Having said that though a brokers trades and rankings, exposed to market occasions (CEO mishaps, better informed traders) blah blah#8230;.can influence capital levels fast (I don#8217;t know if you recall REFCO). The best thing you can do if you#8217;re trying to find a new broker is 8220;DO YOUR HOMEWORK#8221;. Its important to know how a broker manages its risk when it concerns the protection of its own assets and its customer assets. A better way might be to employ your won management and only deposit what's absolutely necessary to exchange and draw money or profit as you see fit. Any ways that#8217;s only my to cents.

Another thing you might want to think about is whether it is true NFA members have series three permits, need to back up client #8217;s money with there own capital to some degree LOL, below go annual audits, etc . . The segregation rule dose not actually apply to FOREX brokers IMO as if a broker gets into trouble there customers might be 8220;abandoned at the position of unsecured creditors of the thing concerning attempting to collect anything in the FCM#8221;, and there is no guarantee you will find any of your earnings/deposits. I have confirmed that through many talks with brokers including mine. So is your money safe with over-the-counter derivatives or off-exchange such as FOREX absolutely NOT.

On another note, I downloaded the ExpressFX presentation from curiosity because they're offering the zero disperse, and found it to be very perplexing.

For example: On my presentation

There are not many possibilities for chart setups.
You set your stops and limitations in dollar amounts.
There coloring options for the charts make studying price action hard.

Unless you are a new to forex and this your first platform these things IMO prefer the broker more than customer.

I also agree with fxtrader42 on the whole #8220; IF YOU LOSE YOU DONT PAY A COMISH#8221;

you need to read between the lines in regards to investing/purchasing anything such as cars, houses, furniture, and FOREX is no distinct #8230;. . .LOL I believe either they will still get compensated. Most brokers currently have their losing customers put up on a separate server they can accumulate on, and also those that win will only be past to the clearing house that they will collect the commission.

Brokers aren't all bad, and this really is a company, I am just not a big fan when it comes to exactly what forex brokers can and cannot get off with. I have nothing against the broker in question, only trying see it in the clients point of view to bring some insight.

Happy Trading,

Can

I've nothing against the broker , I just happen to know there is a lot better out there. If you lose, every broker is exactly the exact same and it doesnt matter where you trade. However, should you win then you've got to look for the best option(s) along with also the safest...

all the very best

Lava,

When a broker doesnt get paid when clients lose money, how can a broker earn money, particularly when in the absolute best only 10% of traders earn money? Moreover, if you earn money more times then you shed why would you pay 4 pips on majors when just about every other broker charges half as much?

Answers?

Originally Posted by ;

IMO they are a very honest broker and a good broker generally. For me, the only fault I find with them is that their guide implementation. Sometimes you need to wait around for as much as a moment before you receive a quote! As regards slippage etc, I haven't experienced any such thing. If you set an order, it is certain to be filled at the specific price you requested.

Overall they are an excellent broker, but if you are interested in finding quick in, and quick out scalps with guide implementation, forget it!

Sometimes you must wait around for as much as a moment before you receive a quote! As regards slippage etc, I haven't experienced any such thing.

thats funny. . To wait 1 minute IS that the slippage. . I ve seen movements of more than hundred pips in a moment

Originally Posted by ;

Sometimes you have to wait for up to a minute before you receive a quote! When it comes slippage etc, I haven't experienced any such thing.

thats funny. . To wait 1 minute IS that the slippage. . I ve seen movements of more than hundred pips in a minute

like I said bro, they're not the very best broker about when it comes to manual execution but I make a lot of cash with them so that I can't complain....

I can't call it slippage because manually closing does not involve stop or limit ORDERS.... You have 4 seconds to make up your mind when you ask a quote manually.... If you do not like the price, you do not take it. I've never placed an order together that wasn't filled in the price I originally set....ever. To me that is credible.

That is just how they are. All brokers have pros and cons and I use them as my mended spread broker and I don't have any issues with them otherwise...

Originally Posted by ;

As I stated bro, they aren't the very best broker around when it comes to manual execution but I earn a lot of cash together so I can't complain....

I cannot call it slippage because manually closure doesn't involve stop or limit ORDERS.... You have 4 minutes to make up your mind when you ask a quote .... If you don't like the price, you don't take it. I've not placed an order together which was not filled in the price I originally set....ever. To me that's credible.

That's just the way they are. All brokers have pros...

so that you are the guy that paid 100K for exactly the exact same car that I paid 50K for!

Originally Posted by ;

so you are the guy that paid 100K to get the same car that I paid 50K for!

No!!! ...I'm the guy that you paid the 50k to get a car that you thought was worth 100k.... It was actually worth 5k stupid...

Appearance.... Trade with whoever the hell you want to exchange with. . I have nothing more to add to the thread.

Originally Posted by ;

No!!! ...I am the guy that you paid the 50k for a vehicle that you thought was worth 100k.... It was really worth 5k dumb...

Appearance.... Trade with whoever the hell you wish to exchange with. . I have nothing more to add to the thread.

Haha, fine return genius... but you're the one over paying, even if you made money you would understand that.

Originally Posted by ;

I have never placed an order together that was not filled at the price that I originally set....ever. To me that's plausible.

I am 100% agree with you. Because you can pay 1-2 pip(round-turn) but one executed stop with a 50pip slippage can ruin everything you was working for. We all need is ensured fills!

Originally Posted by ;

please stay out of it... you'll loose your first account and MORE!!!!

Folks do you know what it is you are talking about? 40 cent for $1K
signifies $40 for $100K that is in other words 4 PIP SPREAD

so if you win 70 percent of the time (the customer they don't desire )
you LOOSE with them on the disperse...

yes, they will forgive you the disperse as soon as you pay them your lost commerce LOL

If you'd learn a little bit about forex trading you would be impressed how much money will you make trading with no spread and $0,4 commission.