Jump to content
Exchange Blog Cryptocurrency Blog

Fresh Forex


Best Change



Do forex brokers actually want you to succeed?


Recommended Posts

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.

trading.jpg

 

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.

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

  • 3 weeks later...
  • 3 weeks later...
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.

Link to comment
Share on other sites

  • 2 weeks later...
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 :)

Link to comment
Share on other sites

  • 7 months later...
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 :D

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...