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| Which criminal can we use? https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=182 |
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| Author: | POH [ Thu Jun 28, 2012 6:22 am ] |
| Post subject: | Re: Which criminal can we use? |
Unfortunately I don't have anything positive to post up about any criminals so I'll just talk about what they do best. Both of the following account are/were live. Firstly: Markets.com At first they seemed alright, but the more and more I started trading with them I realized they are liars, they tell you one thing on the phone, but what actually happens is different. Only had a small account with them and ended up losing $100 due to their lies. Secondly and this just happened today: fxprimus.com I took a small trade this morning with small profits and noticed that after I took that one and only profitable trade my account balance was some how less than what it was before I even took the trade. So account balance + profit = less than starting account balance. So I looked through my account and did some calculations and even got a friend to double check and I was right they had some how taken my money and it was not displayed in my Empty4 account history or my online statement. So I got in contact with the live support, after wasting my time and constantly trying to refer me to email another department I caught them between a rock and a hard place and they had to admit that what I was saying was true. I have the whole conversation copied, but here is a small bit of it: FXPRIMUS Online Support: I see one transaction through Allied Wallet amounting 2000, and there is a commission of 8.39 FXPRIMUS Online Support: So that could caused the differrences ****: commission for what? FXPRIMUS Online Support: But I'm not sure what is that commisson or charges for In the end I still didn't get an answer as to where the magical commission has gone. After having a good look at Empty4 and my statements, it appears that they re-quote every trade to the spread value(so you will always enter a trade being negative the set amount of pips) and then after this re-quote (which is their spread commission). They charge you on top of that again to get their spread, essentially paying spreads x 2 for every trade. This is no where on their site and seems like a load of .... to me. |
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| Author: | slowkey [ Thu Jul 05, 2012 3:55 pm ] |
| Post subject: | Oanda and Cowboy IBFX |
I have traded manually with Oanda for several years. The spreads are excellent and I do not trade news so short term widening is not a bother to me. What I like is that Empty4 and FXtrade are linked. So that I can use FX trade to manage a Empty4 position. FXtrade is a very poor charting platform. It is a fabulous execution platform. You can trade any amount of units from 1 unit to a 20 million units and with any leverage which you can adjust your self with out any phone calls. It is instantaneous in its transactions. I do not use Oanda for Bots. I use a Micro-Account at Cowboy IBFX for Bots. Trading Nano-lots is ideal for Bots. Very forgiving. I would not trade a bot on a standard account especially Oanda. It would not be a good choice for a bot because of the way they setup there Empty4 backend. Oanda is a market maker. They are straight with you about that. According to statistics that are now mandatory under the new laws governing criminals, Oanda statistics indicate that more of the traders trading with them are profitable on a monthly basis than the other criminals in the market. |
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| Author: | RockyJ [ Fri Jul 06, 2012 11:36 pm ] |
| Post subject: | Re: Which criminal can we use? |
I do not know if this link has been posted here but I came across this interesting site today. You can compare actual spreads between many brokers. Looks to be in real time , http://www.fxintel.com/live/ several different ways to look at info and you can add in commissions as well. |
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| Author: | garyfritz [ Thu Jul 12, 2012 3:58 pm ] |
| Post subject: | Re: Which criminal can we use? |
In the wake of the PFG blowup, I'm looking for a new crim. Has to be US-friendly, and I really want it to be GMT+2/3 so it has 00:00 at 5pm NY, which produces 5 clean 24-hr D1 candles per week. Cowboy IBFX is probably pretty good but they are GMT+0. I'm trying to set up a demo at MB Trading but I'm running into a snag there. Any other suggestions? |
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| Author: | Fx93 [ Thu Jul 12, 2012 4:31 pm ] |
| Post subject: | Re: Which criminal can we use? |
Gary, I had ATC Brokers on my list along with PFGBest as a CFTC broker who allows hedging/netting on Empty4. Their minimum is .1 lots too. if you don't need Empty4, IB might work. I'm thinking about going offshore to FinFX for my smaller accounts for the 1:200 leverage and hedging. |
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| Author: | AnotherBrian [ Fri Jul 13, 2012 3:23 pm ] |
| Post subject: | Re: Which criminal can we use? |
The Aussie regulator hasn't doe much for those that lost $$ from the MF Global disaster. You should look into how your funds are protected. In Canada, it's IIROC, and protected to 1 Million. Check out this link http://www.stevehopwoodforex.com/phpBB3 ... 7&start=10 |
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| Author: | garyfritz [ Fri Jul 13, 2012 3:26 pm ] |
| Post subject: | Re: Which criminal can we use? |
Pity they won't take US clients. (Right?) |
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| Author: | AnotherBrian [ Sat Jul 14, 2012 1:10 pm ] |
| Post subject: | What about the auditor! |
I think one of the most important points when searching for a broker is the auditor! In my business, we only hire well known reputable auditors. The large auditors are less likely to hide errors since they need to maintain their reputation. PFG used some guy living in a house... WTF!! Then I went looking to see who did the auditing for MF Global, PWC (PriceWaterhouseCoopers), so even the auditor doesn't make a difference!!! (This company is big). As revelations emerged Tuesday about alleged accounting shenanigans at the bankrupt brokerage MF Global — which reportedly commingled its own money with customer accounts — auditor watchdog Francine McKenna posted a terrific piece at Forbes called “99 Problems and Auditor PwC Warned about None.” As MF Global’s auditor, McKenna reported, PricewaterhouseCoopers gave the brokerage a clean report as recently as May (and apparently billed MF Global $12 million for its services over the last year). Angry MF Global investors are probably wondering whether they can load any of the blame for the brokerage’s downfall on PricewaterhouseCoopers. The answer, according to a prominent plaintiffs’ lawyer I talked to Tuesday, is almost surely no, at least in terms of tagging the auditor with liability for MF Global’s losses… more here - http://www.forbes.com/sites/francinemck ... bout-none/ What do you guys think? Combo of auditor and regulator? How about the person or department in the NFA who was sending the docs to a PO box? I say they are FIRED without severance, what a retarded error to make, trust a PO box without checking on it? It's a simple phone call to confirm to the bank, isn't this part of their process? Do all the retards who cant get a job in the private sector go to work for the regulator? |
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| Author: | Fx93 [ Sat Jul 14, 2012 1:58 pm ] |
| Post subject: | Re: Which criminal can we use? |
If this was to me, ATC does, as I believe they are US based, and FinFx does still as well. Here is a nice page of offshore brokers still allowing US clients. http://forums.babypips.com/rate-my-brok ... -cftc.html The 200:1 leverage makes a 5%/mo. winner with 50:1 into a 20%/mo. winner. If you start with $1500, after two years you'd have $120k and after 3 years $1mil, if my math is right. Regardless, it allows much more cushion for strategies that have a chance to blow the account. Download a demo yourself, I did last week and pushed G+ to make 13% last week. The danger of course is it is doubtful that one could get one's money back were they to shut down, so if the account becomes nice sized I'd transfer to a US broker and let it simmer. I think also if you are a US citizen living offshore with residency there, you can sign on with about any reputable offshore broker and enjoy the high leverage. I decided to do this with small accounts after I saw FXDD was cheating, which is the only US broker offering micro accounts and hedging/netting that I know of. Here is an excel income compounding spreadsheet, which I find useful, it keeps morale up anyway lol. |
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| Author: | garyfritz [ Sat Jul 14, 2012 4:40 pm ] |
| Post subject: | Re: Which criminal can we use? |
No, I was responding to Brian. The "they" I mentioned was the Canadian brokers with their IIROC protection. Thanks for the babypips link. Looks like virtually all the foreign brokers that accept US clients are no-name bucket shops that I wouldn't trust with my money. FinFX is the only exception. BTW here is another list: http://www.earnforex.com/forex-brokers-us-traders/ |
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