inherently unethical ??

Discussion in 'Forex' started by marketsurfer, Sep 28, 2003.

  1. i was recently exposed to the SPOT or single payment option trade method of forex trading. this technique seems inherently unethical targeting the obsessed gambler class. somewhat on par with "spread betting" any thoughts ?


  2. I find the entire Forex market filled with thieves and unscrupulos vendors. The datafeeds do not report a unified price from vendor to is unregualted as far as I know.

    You would not believe what they do with your order after they receive it!

    I went to an interview at a large Forex company whom I will not mention their name.....and learned a little about the specialist side of the business and what would be expected of me.

    Michael B.
  3. Just out of curiosity, do they also do those things with 1-lot orders?
  4. Don't really know a thing about it (haven't traded it) but, after having done a little snooping around on some of these online forex trading websites, I can't help but wonder that if *Uncle Jesse* were alive and kicking today that he wouldn't take a look at a glance and then mumble something in a low key that rymed with *bucket* - shop. :D
  5. I remember it was answering various banks and their inquirys on price based on the inventory.....this 3-10 pip spread gives a range to bid with on the specialist side.

    Michael B.
  6. izeickl


    Im ammused by the witch hunt that is still going full force, then again no other market is open to manipulation by anyone are they? The markets commonly traded on ET are run by saints are they not. A few people lose some money and ForEx is branded for life on ET. Isnt that one of the failures of a trader who blame the market and not themselves?
  7. WarEagle

    WarEagle Moderator


    I think that it is unfair to make that statement. No one is on a witchhunt against forex. I mean, what would the motive be? A few years ago I spent a lot of time researching forex and came to the same conclusion that marketsurfer did...all without anyone on ET's "witchhunt" agenda to influence me.

    I am not saying that people shouldn't trade it. There are several here who make their living exclusively in this market. But when you compare the common trade practices of spot forex to those of regulated exchanges, there are a lot of added problems that traders have to deal with.

    All trading has inherent risk, and all markets have various forms of unfair behavior and I doubt many people here would debate that. But some markets put you further behind the 8-ball than others. And that has been well documented on the forex threads here.

    I think this is a good example of how this site helps people...traders sharing their experiences with others so that you go in well prepared. Only a forex broker should have a problem with that.
  8. spot forex and SPOT (single payment option transaction) forex are different things with the same name ?? this seems to only add to the confusion. anyone ??

  9. There aren't unified quotes from vendor to vendor because it's the interbank market-- there's no 'exchange' to get quotes from.

    My understanding is that Esignal's forex quotes are a good benchmark.

    The other important thing to remember is that you're not trading against the world, your trading against your broker's desk. They can and will deviate from interbank benchmark prices to run stops (if all of their customers are doing the same thing)--OTOH, if you have a decent source of quotes that are _not_ from your broker, you should be able to recognize this kind of behavior.

    Just my $.02-- its a different framework.


  10. why are these SPOT "options" not allowed on the equity, commodity, and index financial markets ??


    #10     Sep 28, 2003