I'm a bit shocked at how this post turned into a full blown bash against all market makers. To be honest I think some of these responses are a bit exaggerated. I completely understand why FX Solutions changed their rollover policy and depending on the outcome of my trade might close my account and go somewhere else. What is great about free markets are that you decide with your money what company or service you'd like to receive or vote for in a sense. I know of other firms that offer 200:1 with interest so it won't be too tough to find what I am looking for. If enough customers do this either FX Solutions will change their policy back or simply cater only to short term traders and lose some business. I don't feel victimized at all since I can just close my account if I feel I've been taken advantage of. If you want to know about true vicimization just read about Pol Pot: http://en.wikipedia.org/wiki/Pol_Pot
pocketjacket- Its people like you that encourages and sympathises by saying its ok for brokers to do this, its ok for brokers to do that, ots ok for brokers to rape investors..blah blah blah blah. and encourage them to continue doing this. a friend of mine paied 50% premium on a 7 pip profit on AUD. took 7 pip profit, they took 3 . wow- f##k fxsol I will make sure i will spread the word arround till fx sol understands the power of its customers.
Who has 200:1 or even 100:1 with interest? PM me if you'd rather not post in the open as I am very interested to find another broker with the either of the above.
fx-newb, I appreciate your concern but I don't beleive you read the end of my post where I said "I don't feel victimized at all since I can just close my account if I feel I've been taken advantage of." The point I was trying to stress was that if I am unhappy, I'll just look elsewhere and encourage my friends to do the same. If enough people are unhappy the firm will be forced to change or lose business. The customer holds all the power over the company not the other way around. Without us the company cannot stay in business.
I hear ya, and I aggree with you also ... and good for you and for all of us. Though we can not function without these brokers, there should be a fair buisness practice - not blindly ripping customers because it it part of buisness. I don't even want them to walk out free and then say "that was then " " there was not rule" " no regulation " etc etc - because I know they will say that, but they should pay a price and some sort of financial punishment ( not awarded to me ), but just get pusnished for what they are doing. Because they know it is wrong to blindly just rip people off. I am trying to save the next victum.
fxcm still has guaranteed orders. except that it gives you a choice between that and no dealing desk. i mean, let's be realistic here. no market has guaranteed anything. fixed spread is sugar coding the market. in futures, for example, when you have a stop, it becomes a market order and then is executed at the next best price. also, fxcm has the best rollover in the market, as far as i am concerned.