David_Warner Posted April 26, 2021 Share Posted April 26, 2021 There are some truly retarded answers here, let me give you the straight dope. There are three types of brokers. Bucket shop brokers - Are effectively trading against you, they call these “dealing desk” brokers, or try and hide what they are, but effectively these guys know that 90% of traders lose, so they get all your money by trading against you instead of a small fee. These are the brokers offering you bonuses for singing up, advertising on the internet, with many fake reviews. It’s a trap! If you manage to win, these guys will stall and stall about paying you out, they are mostly regulated in countries without much regulation. Real ECN Brokers - The interbank FX market trades in 1 million dollar lots. These brokers perform a service for a fee, they buy and sell million dollar lots, and break it down into the small chunks retail traders need. Fees are low, but they make money whether you win or lose, so they have no dog in your fight. This is what the retail broker should be looking for. Prime Brokers - This is what the hedge funds and banks and large private funds use. You need at least $5m and probably $20m in the real world to be using them. This is above my pay grade. Few brokers I know is a legit ECN broker, they are financially stable, and generally have the best practice for not f*cking clients. You can get them here https://finowiz.com/ . A significant proportion of what I would regard as the “serious retail traders” use them. Quote Link to comment Share on other sites More sharing options...
moneyrig Posted April 29, 2021 Share Posted April 29, 2021 If you choose real ECN or STP brokers, who charge commission or spread only, you'll succeed. These brokers don't care about your losses, since they do not profit from it. An example is Forexchief ECN broker. They charge commission only and are very stable. In fact they usually help their clients with money whenever they about to hit margin, just so they could have enough time to replenish their account. Quote Link to comment Share on other sites More sharing options...
e_abrams Posted May 19, 2021 Share Posted May 19, 2021 I think the legitimate companies make money even if you do succeed. Quote Link to comment Share on other sites More sharing options...
gds221 Posted June 9, 2021 Share Posted June 9, 2021 In fact, this is rather an advantage for brokers. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 10, 2021 Share Posted June 10, 2021 On 4/29/2021 at 4:06 PM, moneyrig said: If you choose real ECN or STP brokers, who charge commission or spread only, you'll succeed. These brokers don't care about your losses, since they do not profit from it. An example is Forexchief ECN broker. They charge commission only and are very stable. In fact they usually help their clients with money whenever they about to hit margin, just so they could have enough time to replenish their account. I am doing my Forex trading with the International and True ECN Forex Broker FXOpen Markets Being an ECN Broker all the trades are being sent to the Liquidity Providers. Quote Link to comment Share on other sites More sharing options...
Gidencenti Posted June 10, 2021 Share Posted June 10, 2021 it all depends on which broker you work with and what his attitude towards his traders is, this is very important Quote Link to comment Share on other sites More sharing options...
gds221 Posted June 14, 2021 Share Posted June 14, 2021 Basically, if you choose the right broker, then the company will be quite interested in the success of the trader's work. Quote Link to comment Share on other sites More sharing options...
Gidencenti Posted June 14, 2021 Share Posted June 14, 2021 it all depends on the broker himself, because in fact there are now many who interfere with the work of their traders Quote Link to comment Share on other sites More sharing options...
gds221 Posted June 15, 2021 Share Posted June 15, 2021 As for me, only the trader should think about how to achieve the result himself. It is worth realizing that he is most interested in this. Quote Link to comment Share on other sites More sharing options...
Gidencenti Posted June 15, 2021 Share Posted June 15, 2021 it is clear that each trader needs to take care of his own result, only there are brokers who will greatly interfere Quote Link to comment Share on other sites More sharing options...
Vaabum Posted June 15, 2021 Share Posted June 15, 2021 As for me, the main thing is for the trader to succeed. In my opinion, this does not depend on the broker. Quote Link to comment Share on other sites More sharing options...
gds221 Posted June 17, 2021 Share Posted June 17, 2021 It is more important here that the trader himself wants to make money. If a trader wants this and works on himself, the result will be. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 29, 2021 Share Posted June 29, 2021 On 6/17/2021 at 6:45 PM, gds221 said: It is more important here that the trader himself wants to make money. If a trader wants this and works on himself, the result will be. In the business of Forex trading the main and the important fact is to be able to do our trading with proper plan of action. Quote Link to comment Share on other sites More sharing options...
gds221 Posted June 30, 2021 Share Posted June 30, 2021 As for me, getting successful results of work is the task of the trader himself. Quote Link to comment Share on other sites More sharing options...
Dora Wi Posted July 1, 2021 Share Posted July 1, 2021 You are right, ECN brokers are the best choice. You should also beware binary options because in binary option trading the broker also has a conflict of interest with you, profiting off your losses and not so much from your wins. Quote Link to comment Share on other sites More sharing options...
e_abrams Posted July 1, 2021 Share Posted July 1, 2021 It depends on the broker. The bucketshop just out to profit from you doesn't. They're actively trying to rip you off, and it happens often, unfortunately. Quote Link to comment Share on other sites More sharing options...
gds221 Posted July 1, 2021 Share Posted July 1, 2021 As for me, companies can also be quite interested in this, because they will make a profit for it. Quote Link to comment Share on other sites More sharing options...
Gidencenti Posted July 6, 2021 Share Posted July 6, 2021 each broker works according to its own principle, and here you already need to pay attention to which broker you are working with Quote Link to comment Share on other sites More sharing options...
Erienner Posted July 8, 2021 Share Posted July 8, 2021 the main thing is not to fall for those brokers who interfere with the work of their traders, and there are really a lot of such companies now Quote Link to comment Share on other sites More sharing options...
gds221 Posted July 9, 2021 Share Posted July 9, 2021 As for me, this should be the goal of the trader. Everything is simple here. If a trader wants, he can get the desired result. Quote Link to comment Share on other sites More sharing options...
Gidencenti Posted July 13, 2021 Share Posted July 13, 2021 it is clear that there are brokers who will interfere with the work of a trader, but for example, I work with Amarkets, and such moments were not noticed, there is always someone to prompt and help Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 13, 2021 Share Posted July 13, 2021 2 hours ago, Gidencenti said: it is clear that there are brokers who will interfere with the work of a trader, but for example, I work with Amarkets, and such moments were not noticed, there is always someone to prompt and help I have been doing my trading in the Forex markets with the International Broker FXOpen Markets Quote Link to comment Share on other sites More sharing options...
Vaabum Posted March 13, 2022 Share Posted March 13, 2022 I think that for brokers it is not very important. For example, I work with a broker from ExpertOption, and I have not had any problems with this. Quote Link to comment Share on other sites More sharing options...
uncle gober Posted March 14, 2022 Share Posted March 14, 2022 The selection of the existing broker must be able to be considered carefully, this is done so that traders can be more leverage in getting maximum trading security and comfort like what I got from Tickmill. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted March 14, 2022 Share Posted March 14, 2022 3 hours ago, uncle gober said: The selection of the existing broker must be able to be considered carefully, this is done so that traders can be more leverage in getting maximum trading security and comfort like what I got from Tickmill. We will need to make use of such kind of a Forex Broker which is Regulated and that is Truly International like FXOpen Quote Link to comment Share on other sites More sharing options...
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