tell me please, how I can be sure, that I have chosen a certain broker,that I will trade in the REAL market Forex, instead of in the virtual environment created by the broker where the trader doesn't trade, and plays for money with the broker? Unfortunately, such dealing centers which only create Forex market is much illusion. So such broker companies can manipulate a situation in the market in the virtual environment up to quotations!
Broker's manipulations
- Thread starter Andru
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Manipulation is everywhere (not on a large scale) but i guess there is always risk in dealing with any broker no matter how well known they can be (small risks)
i mean, look for a regulated broker, with good history, all brokers have issues, no broker is perfect, it goes down to how much a broker takes care of its investors/traders.
review sites, forums, blogs, awards, news. all of these should give you a general IDEA.
there is no such thing as a perfect broker that does things by the BOOK word per word. but there are good brokers out there.. that try their best to achieve perfection.
i mean, look for a regulated broker, with good history, all brokers have issues, no broker is perfect, it goes down to how much a broker takes care of its investors/traders.
review sites, forums, blogs, awards, news. all of these should give you a general IDEA.
there is no such thing as a perfect broker that does things by the BOOK word per word. but there are good brokers out there.. that try their best to achieve perfection.
Go with one of the big boys, you are safer that way. You could also open multiple accounts, and keep all trading windows open at the same time so you know you are getting a fair price from the broker you are trading with.
I have not, but since you are googling those I would recommend PaxForex to you. Check them out and see if they offer what you are looking for. Either way, the best thing you can do is to pick a broker you are comfortable with and open a micro-account so you can test them. It is the only way you will find out for sure.
I've been trading with accentforex for latest time and rather satisfied with trading. From very beginning I traded on demo account. Now I trade on live micro account. So I've really appreciated their conditions and most of all their bonuses.
If you think about it, what do you care if the broker is a market maker? As long as they don't play with your stops (causing extra slippage) and provide you with wrong quotes they're ok. If they are regulated and there are no issues with withdrawals (key issue with market makers) it should be ok. If you are still concerned I would go with STP brokers rather than ECN just because of the slippage issue
My broker has never played games with me and I feel really safe trading with them. I can only recommend traders to try for themselves as that is the best way to find out.
Well min sum of deposit is 10$. There are a lot of specific trading conditions. If you wanna I can give you a link.
Well thanks for information. Could you tell what benefits of STP broker as to ECN. What difference. And if I prefer scalping strategy what is the best variant for me? Thanks in advance.
PaxForex is not regulated, therefore inacceptable.
In addition, their spreads are ridiculously high.
My advice is to stay away from bucket shops like that.
Here is the print-out of a chat I had with them a few minutes ago:
What's the problem with unregulated brokers? Many of them become regulated sooner or later - that hardly changes anything in real trading conditions.
But it often makes a hell of a difference when trying to withdraw money.
In addition, unregulated brokers have less inhibitions about manipulating price, because they do not have to fear fines from their regulators. Who is the customer going to complain to anyway, if there is no authority to turn to?
You are not seriously promoting unregulated brokers, are you?
Cheers,
P.
The only thing about regulation that I have to say is that both brokers that I still use to trade FX (unlike the one for stocks) were unregulated when I began to trade with them. Now, one of them is already regulated for about a year. The other is still unregulated. Never experienced any problems with any of them.
I do not suggest going with an unregulated broker as a preferred choice or that regulation is just adding needless restrictions (didn't notice that either). I just believe that there are more important things to a broker than its regulatory status.
Well, I absolutely and strongly disagree with that ... for me, regulation is the paramount criterium in choosing a broker, followed by segregation of clients' funds.
But everybody chooses after his/her own fashion, hehe.
Cheers,
P.
But everybody chooses after his/her own fashion, hehe.
Cheers,
P.
PaxForex is nothing close to a bucketshop. I have been trading with them for over a year and your claims that an unregulated broker will cause issues when requesting a withdrawal is ridiculous.
The chat you posted shows nothing wrong. True they are not yet regulated which does not change a thing. Having said that, I agree with what you said...we chose according to what we like.
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