The problem with retail forex brokers is that there is an inherent conflict of interest because the broker takes the other side of your trade and supplies the prices that you are trading. This looks like a classic example of price manipulation to run customer stops. Here is a link to the chart of the futures and the futures were running approximately a 3 tic/pip spread under the cash on Friday: (click "intraday chart" for Euro FX (E)) http://legacy.futuresource.com/partners/cme/default.asp?id=Foreign Exchange
until 5 pm est and some fx spot prices end at 3 pm , some at 4 pm , some at 5 pm est (?) so that can explain what you might be seeing as different prices in spot ?
No, I would guess that it happens whenever they can make a killing by doing it or at least as often as they think they can do it and not loose too many customers. I doubt that it has anything to do with it being Friday but then I can be a cynical bastard.
http://quote.fxtrek.com/misc/fxcm.asp The spike to the 123.30 area on Friday afternoon (EUR/USD) has been removed. Anybody trading with FXCM that went short on Friday afternoon with a stop above 123.05 and below 123.30 that held it over the weekend (or tried to)? We would love to know if you got stopped out.
Trader333, I feel that only with forex can you trade $10K into a billion dollars. But, after studying forex for about 7 months I think it can be done certainly. You do need to (at least) double your account (or close to it) every year though. Check this out... Year 1 $10K Year 2 $20K Year 3 $40K Year 4 $80K Year 5 $160K Year 6 $320K Year 7 $640K Year 8 $1,280,000 Year 9 $2,560,000 Year 10 $5,120,000 Year 11 $10,240,000 Year 12 $20,480,000 Year 13 $40,960,000 Year 14 $81,920,000 Year 15 $163,840,000 Year 16 $327,680,000 Year 17 $655,360,000 Year 18 $1,310,720,000 <-- Year you hit 1 billion! Think big! Forex can take you there. If you pay taxes your time to reach one billion may be longer, or, if you do better than double your account each year, it may take you less time to reach billion dollar status. c
Anyone has got any experience trading forex OTC options with either Saxo or CMC? Also how about GFI/Fenics? Your comments would be appreciated.