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Ivanovich
Moderator*
Registered: Oct 2004
Posts: 7576 |
08-08-07 01:04 PM
Heh...whatever. I'm not going to be drawn into such a silly discussion. If you don't know how to manage your risk, it's not my issue, mate. I do not close my eyes to anything. I do my own due diligence.
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inggscap
Registered: Aug 2007
Posts: 15 |
08-08-07 01:12 PM
Daal raises a valid point but I look at it as a business risk. Enron and Refco could be put in the same box regarding how it gave everyone a surprise.
The fact of the matter I think is that if a company wants to hide something, they will and you won't ever see it no matter what. Either in forex or outside industries. So all we can currently do is be happy if our current broker is over the NFA requirement. Other than that it's keeping an eye on the service, slippage, shady dealings/contradicting claims the broker does to decide if you want to stay with them or leave.
That's the way I see it. Have a great week all 
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Daal
Registered: Oct 2002
Posts: 5181 |
08-08-07 01:29 PM
Quote from inggscap:
The fact of the matter I think is that if a company wants to hide something, they will and you won't ever see it no matter what.
I agree and thats what I want fx traders to admit, that they are taking a big gamble that their broker might fail and they lose all their money not hide behind the idea that oanda/fxcm/my-broker is more sound than the others without any facts.
Once they admit that and everybody is on the same boat then we can start to find ways to diminish that risk by choose the least likely to fail broker using some kind of historical criteria, I have no idea which criteria would work. the fact that oanda pays more interest than the others is almost surely a negative though
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Ivanovich
Moderator*
Registered: Oct 2004
Posts: 7576 |
08-08-07 01:32 PM
No one is saying any broker is better than any other here. No one is saying there's no risk. You're the one with the (two, now) threads on OAnda, claiming that there might be rot beneath the carpet. If there is, show us the proof.
It's ok to check up on brokers. But do some research and prove what you say is true before coming here and trashing a broker that might not be deserving of it.
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Daal
Registered: Oct 2002
Posts: 5181 |
08-08-07 01:34 PM
Quote from Ivanovich:
No one is saying any broker is better than any other here.
You must not know how to read
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MKTrader
Registered: Dec 2005
Posts: 763 |
08-08-07 01:39 PM
For what it's worth, Oanda appears to be one of the most professional, sound FX brokers. They don't have all the "open a demo or small account and learn to get rich" ads, don't do all the deals with IBs, etc.
Of course, appearances can be deceiving, but that's the impression I get.
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