I just opened up an account with the bucketshop FXCM micro. Kind of makes me nervous just how Easy it was to open the account ha and I still haven't funded it yet. I only plan on throwing $100 in and messing around with it for hopefully more than a couple days and more like a couple months if all goes as planned. I'm pretty set if the environment is like the demo and I don't get crazy random spreads like I've seen mentioned around....I'm hoping it's just people who've never traded anything in their lives complaining when they took a trade when no major markets were open. I'm just more worried about the withdrawal checks they send out. I haven't seen anyone say that they never got their money but there was a guy or 2 that said it took a couple of months. Hard to tell if the people saying otherwise were shilling or not. The plan is to trade with them for a bit, hopefully build my account up to around 400 or 500, and switch to someone a level or 2 up. I just don't want lock $500 or 1000 of my trading money in a Forex account now while I'm mostly just trying it out when most of it would just be sitting there when I could be using it somewhere else.
If any Forex representative (open or hidden) reads this, please respond to the above statement. This reminds me of a casino which kicks out customers who regularly win. cabletrader, I know you are a hidden representative of a currency broker (you should pay Baron sponsor fee after posting so much on behalf of your employer), would you confirm or deny the allegation that Forex bans customers who regularly win against the broker?
LOL, I see, and who would that be exactly? Too funny "...Forex bans customers...", lol, what does that mean, and who is this 'Forex' which bans customers? Come on sonny, if you've got a point to make try and make it lucidly and intelligently otherwise people might think you're just another moron who lost his shirt and needs someone to blame for his own stupidity! Try again.....
Now tell me, how can you have had any answers when you say my answers were "two evading questions"? Tell you what, you ask the questions and give the answers, that way you won't even need to post! Hope that helps! ps....out of interest, what exactly is an 'evading question'?
It is my understanding that if a trader is a very good trader then the fx broker will switch him from "bucketshop" account to "commission" account. This way you won't be able to take away more of the broker's money. It is also my understanding that if you are a bad trader, the fx broker will keep your account in "bucketshop" mode and will deplete your account. It is also true that if you are really, truly good as a trader, they will piggy-back your trades and might even offer you a job to trader their company accounts. So is currency trading a scam? It's only a scam if you turn a small account into a small fortune and they make fake trades in your account and thereby making your account a few bucks versus the few hundred thousand that you worked so hard to get your account to... I'll let you know if currency trading is a scam in about 1 year.