What kind of problems do you have with your forex broker?
- Thread starter fx.cfd
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before I choose a broker. I always consider, with a friend, and a senior in forex business. so I will run the business with the facilities to remain comfortable. and the things that usually make the trader can not wait is the time of withdrawal. yeah, of many cases indeed it is most often complained every trader at a broker.
its very common issue in trading that you are having hard time with your broker, but if you choose your advisor smartly,you would not have to face issues. i m using signalstimes for a long time and never faced such issues.
This happened to me a year ago or so when I was trading with IronFx which has now become scam even though they are accepting deposits shamelessly! The trading conditions was getting worse, with spreads widening, price spiking suddenly, huge slippage, constant re-quotes. Later they started canceling profitable trades and in worst case freezing accounts. Needless to say, such fraud brokers still exist which bring bad name to the forex trading world!
Most bucket shop brokers have the same problems as those mentioned by Danish Faridi but ECN brokers are usually a lot better. With a bucket shop broker if you lose money then they win so there is a conflict of interest. They want you to lose. But with an ECN broker, they only make money on the commission so they just want you to keep trading. I would only every use an ECN broker
Well, I see retail Forex traders don’t face such a big problem in their trading, but institutional Forex traders are very much careful on broker issue, since they are trading with a huge trading capital! Well, my 1st live trading broker was a market maker, they blocked my trading account after making 300% profit, such a bad experience! Then I understand the importance of using regulated Forex broker!
Yes, now this broker is not available! Are you here or already left the trading industry?
It seems to me that if you have any problems or difficulties with your broker, then you should change your broker first and as soon as possible. That's because working with a dishonest company can result in you losing your capital. But from what I have heard from my friends, the biggest problem that I often see among traders is poor quality trading terminals, which do not allow you to fully develop the desired strategy, which you like and in your opinion can bring you a stable income. In addition, very often traders do not have the opportunity to assess the real market situation, because the charts show false data, etc. And such situations are not uncommon, it is actually very sad!
I believe no broker could be just perfect from all aspects. Some general issues I face with brokers are wild spreads, slippage, poor execution speed etc. That’s why I keep my funds segregated with 2-3 brokers. I have tried many brokers so far including XM, Fxpro, Fxview, ICM but can’t say any of them is just perfect.
Every broker has a different system and procedure to work, so they may have various issues. The major issue comes when they are monetary aspects included.
I haven't had any big issues and actually can't complain about costs either. The only things I really wish my broker had would be some type of promotions, like bonuses or maybe even demo contests.
no issues with any of the brokers i use to be fair, ive been with them awhile and so far so good
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