My curiousity is at peak on this issue. I understand that these new rules apply ONLY to retail traders and not institutions. If that is correct, were these new rules to protect the retail trader OR were they more likely intended to direct traders away from the spot fx market and to the NFA futures members so that the futures brokers could get a bigger slice of the pie from losing retail traders? I am also curious as to how many retail traders have shifted their accounts away from NFA brokers and or taken them offshore of the USA? I wonder if these rules are going to have a negative effect as the money from retail traders is presumably shifted offshore and possibly start an exodus of traders away from the USA. We will probably never know the real truth, but we will most likely get some manipulated truth simliar in fashion to the unemplyment reports (U3 vs U6). This reminds me of the passages in Reminiscences where Livermore traded with stock bucket shops that were outlawed, only to later be introduced as options (deravitives).
Good point, and it's timing conviently coincided with the introduction of M6 micro futures.....it makes you wonder.
yes very strong point indeed ! however as good the idea of the micro, there is no liquidity... they should have made the contracts fongible ( e6, e7, m6... )
yeah tell me about it. my friend's aunt had an account and let someone manage $$ on ibfx.. the account dropped 80% in less than 2 weeks. they asked me for my help to recover, and i can tell you from tick data that they completely screw you. When you are long a position, they feed you a price that is 3-4 pips behind, and when your short they show you a feed that is 3-4 pips ahead! AND they try VERY hard to "push ping" the price. total bucket if you don't know how to trade..
I read your comment about oanda in the broker section... Do you still think that ? why are you still trading with them ? Do you still have connectivity issue ? Do you see a pattern in the connectivity issue ?
I guess I need to update my review sometime. Connectivity has improved but we're still seeing some quote delays in fast moving markets. You might say that's a plus but it's not, the displayed quotes are not executable prices unfortunately Overall I think they're only marginally better than any other forex shop, for me it's a case of the devil I know!