Broker For Scalping Found !!!!!!!

Discussion in 'Forex Brokers' started by NickBarings, Aug 19, 2006.

  1. Care to explain exactly why they are different from the hundreds of other scams out there?
  2. sim03


    Please tell me you're kidding, right?...

    How about just a few red flags:

    1. Where's the contact info? What country are they in?

    2. Domain just created on March 21, 2006 through GoDaddy... details completely hidden behind "Domains by Proxy, Inc." That's reassuring.

    3. No NFA ID


    4. Not registered with CFTC

    --> How in the world do they legally operate as an IB for Peregrine, which is an NFA member / CFTC-registered?

    5. Gotta love the we-are-sooo-full-of-integrity-and-honesty-really "Open Letter from Our Broker". I'm getting all misty-eyed.

    6. Fixed 2-4 pip spreads. No commissions.

    7. A market-maker AND managed accounts, all in one? One stop shopping, huh. "Forex Redefined", indeed. Conflict of interest... what conflict of interest?

    8. Speaking of managed accounts, where's the required performance record and risk disclosure? Or is this it:

    "Let our profitable strategies work on making you money! All of our strategies are thoroughly backtested in various market conditions."

    Backtested? WOW. I am floored.

    Welcome to the wonderful world of bucketshops.
  3. Do you know of any other broker stating
    this so explicit ?

    Let someone who trades with them
    confirms their claims.

    Let me be clear, I DON'T back their claims...
  4. sim03


    Sure. For the utmost integrity in forex dealing, try Refco.

  5. siki13


    Didn't you already find broker for scalping EFXGroup ?

  6. Their sight says more re-assuring stuff than most.

    The idea, that a consumers complaint might cause someone to be fired, is brilliant marketing.
    Assuming you could prove it, strange they didnt mention how one might do so, but still.

  7. Yes, EFXgroup is top notch but if
    nm would offer fixed 2 pips and fair
    dealing they would be cheaper than
  8. ROFL:p
  9. FarajL


    There others out there that say they allow scalping.
    I seriously doubt that!! The liquidity providers themselves will reject trading with scalpers.
    But the best is to have opinions from someone who actually does scalp with them! Anyone here who has this kind of hands-on experience???
    #10     Aug 21, 2006