Who can be trusted.

Discussion in 'Forex Brokers' started by gusmarone, Oct 25, 2008.

  1. I have read so many testimonials online about these forex brokers. I must admit I enjoy trading forex and have made some good money with forex.com but have not traded heavy size. I am getting nervous that if I do trade heavy size I will get screwed as they are a site that obviously books a lot of these bets.

    My question out there is what bucket shop can you really trust to not be on the other sides of your trades. I mean it makes sense to me to have these shops want you to win as the amount they make on a frequent trader with the spread is crazy.

    Who can I trust that will give me tight spreads and not jerk me around when I decide to trade size. Do I just go to IB or is there a legit shop that can be trusted. Thanks.
     
  2. What is your idea of heavy size?
     
  3. For me right now I have been trading 10-20 minis per. Would like to step it up to 5-10 bigs. Thanks.
     
  4. Surdo

    Surdo

    10 bigs is not exactly "heavy Size" my friend. that's $1mm!

    Trade Fx futures if you don't want to get bent over.

    You will NEVER have an issue of your stops not being honored or being picked off by the other side on Globex.
     
  5. I understand heavy size is all relative. But at a hundred points a pip I want to make sure I dont get anally raped and am not quite sure forex.com can be trusted. Thanks for the tip, I will check them out.
     
  6. Which firms actually take your trades and trade them with the big banks and which firms just book the bets themselves. How are we the customers supposed to know and find out this information.
     
  7. You have 2 real world choices for doing size: trade on an FX ECN or trade CME FX futures.
     
  8. Yes I now know that forex.com is a market maker and the answers they gave me were quite comical. They should not be trusted to do size.

    Now I know as far as the retail ECN's go there aren't a lot of choices. Even interbank FX was sued for a false claim of being a non dealing desk.

    What are the best non dealing ecn's out there for a retail customer. Its not just paranoia dealing with dealing desks, its the fact they are like a casino with a license to print money and house edge that is through the roof , and rules they can create at any time, as far as taking out stops etc .

    Does anyone have any thing to say about forexclub?
     
  9. As mentioned elsewhere, you should check the broker reviews. Interactive Brokers or MB Trading, margined access Currenex.

    I recommend Interactive Brokers because they are a large, well established firm and you can trade many instruments in one account.

    STOP LOOKING AT ALL OF THESE COUNTLESS LITTLE FX BROKERS. THERE ARE MORE THAN ENOUGH BIG FX BROKERS TO HAVE 2-3++ ACCOUNTS GOING...
     
  10. And to qualify, as per my 'MB Trading - Spot FX Execution Failure' posts, I have MB Trading on the tightest leash ever...
     
    #10     Oct 26, 2008