I started reading the referenced article but had to give up due to an accute ROFL attack after the following amazing "discovery" revealed by the author: I wish I had some of that $1.3 trillion in my demo account!
How ridiculous. Good spot! But I think there's some truth in this article, despite this ridiculous claim.
WM, I disagree with the "every" in the title of this thread. You have acknowledged that you are a neophyte in the forex market. So I can see where you are coming from. This June will mark my 11th year in the forex market. Do business with a reputable broker. The skill and talent required in trading forex is very rare. Just look at the USD/CAD thread.
WM, on the CFTC website you will be able to find out if the broker is registered with them, as well as any black marks that broker may have. Welcome to the forex market.
The best would be the ECN style forex brokers. The rest are market makers. Interactive brokers. MB trading CoesFX Hotspot FXi CurrenEX When CME/Reutures FXmarketspace spools up early next year, expect to see more ECN style brokerage offerings.
What about firms like MB trading though? They do charge a commission and you get a tighter spread...they don't trade against us do they?
Nope, they don't trade against you. They simply match orders with you and their liquidity providers. This is why they charge a commission. That's the only way they make money off you. Unlike the "no commission" market makers.