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What do you expect from a broker?

Rosie Webster (rosie4x)
Aug 01 2012 at 12:54
posts 11
What do I expect from a broker? from my point of view, I expect tight spreads, fast deposit and withdrawal times, personal customer service and support so if the need arises, I can ask a question regarding my account 24/5 ! and most importantly.. Regulated by a recognised body, and as said above by Moreno, clients funds in segregated accounts.

Rosie4x
Igor
Igor123472
Aug 02 2012 at 06:04
posts 117
Hi Rosie. I agree that tight spreads is most expected of one trader, fast deposit and withdrawal.
But one respectful broker must be licensed and regulated once that there have will laws to following.
TheLastBear
Aug 06 2012 at 09:09
posts 186
Segregated funds is an illusion. Nice to read and have, but when it comes down to it segregated funds do not provide the security you may hope for.
Pax puts the X in Forex.
James_Bond
Aug 06 2012 at 12:59
posts 556

TheLastBear posted:
Segregated funds is an illusion. Nice to read and have, but when it comes down to it segregated funds do not provide the security you may hope for.

You can never be 100% safe as history proves us exactly that. I think all of these so called 'protections' are just there to provide a false sense of reassurance to the trader.
dlathrop
Aug 07 2012 at 13:02
posts 33

James_Bond posted:

TheLastBear posted:
Segregated funds is an illusion. Nice to read and have, but when it comes down to it segregated funds do not provide the security you may hope for.

You can never be 100% safe as history proves us exactly that. I think all of these so called 'protections' are just there to provide a false sense of reassurance to the trader.

As I've said before, most people think about managing their risk only in terms of trading. They should be more concerned with managing their risk in terms of where their money is being held!

I agree with you guys; which is why I believe that traders should use brokers in the United States, where brokers are subjected to the strictest regulation in the forex industry.
There are risk-lovers and there are risk-haters, but the best traders will take the risk as long as they get paid for it.
TheLastBear
Aug 07 2012 at 13:29
posts 186
I disagree with using brokers in the U.S. due to the regulation. It is the prime reason people stay away from that. Security cna be achieved in so many ways and as we saw with MF Global, PFG and others it does not protect you which is why the U.S. overall makes no sense for that.
Pax puts the X in Forex.
dlathrop
Aug 07 2012 at 15:16
posts 33

TheLastBear posted:
I disagree with using brokers in the U.S. due to the regulation. It is the prime reason people stay away from that. Security cna be achieved in so many ways and as we saw with MF Global, PFG and others it does not protect you which is why the U.S. overall makes no sense for that.

Most people don't usually do what's best for themselves. Sure, MF Global and PFG were a black eye for the NFA and CFTC; but that just decreases the chance of it happening again in the future due to the increased scrutiny. I would also like to point out that the majority of forex broker related scams/fraudulent occur OUTSIDE of the United States.

When forex brokers are subjected to looser regulation, there is a higher chance that they can go out of business. (I'm not referring to fraudulent activity here, merely the ability to profitably manage a business)

On the MT4 platform, U.S. brokers offer the ability to hedge* and exit trades in whatever order the trader would like too. The only thing U.S. brokers can't offer them is higher than 50:1 leverage - which good traders don't need. If you're using more leverage than that, statistics say you'll eventually blow up your account.

'is why the U.S. overall makes no sense for that.' - If you're going to make such a ridiculous claim please provide some substance to your argument.
There are risk-lovers and there are risk-haters, but the best traders will take the risk as long as they get paid for it.
TheLastBear
Aug 08 2012 at 11:46
posts 186
Every sound broker offers the ability to hedge and exit trades in whatever order the trader would like too so that statement makes no sense. It is no secret that most sophisticated traders and investors have fled the U.S. or are in the process to do so due to its regulation which is extremely counterproductive.

Sure, if you like it then go for it. In the end it comes down to what you prefer. I feel very secure where I am in my off-shore accounts and happy to be there. Every sophisticated investor and trader I know avoids U.S. based brokers. You may think it is ridiculous which is fine with me.

When it comes to leverage it is another personal choice and statistics don't always give you the best insight and always depend on the data collected as well as the source. When I stated that the U.S. makes no sense I referred to the idiotic over-regulation which does not provide a safety net but is simply in place to provide a false sense of security.
Pax puts the X in Forex.
dlathrop
Aug 08 2012 at 16:38
posts 33

TheLastBear posted:
Every sound broker offers the ability to hedge and exit trades in whatever order the trader would like too so that statement makes no sense. It is no secret that most sophisticated traders and investors have fled the U.S. or are in the process to do so due to its regulation which is extremely counterproductive.

Sure, if you like it then go for it. In the end it comes down to what you prefer. I feel very secure where I am in my off-shore accounts and happy to be there. Every sophisticated investor and trader I know avoids U.S. based brokers. You may think it is ridiculous which is fine with me.

When it comes to leverage it is another personal choice and statistics don't always give you the best insight and always depend on the data collected as well as the source. When I stated that the U.S. makes no sense I referred to the idiotic over-regulation which does not provide a safety net but is simply in place to provide a false sense of security.



''Every sound broker offers the ability to hedge and exit trades in whatever order the trader would like too so that statement makes no sense.''

There are plenty of forex traders out there who still don't know that U.S. brokers can offer the ability to hedge on the MT4 platform due to the Dodd Frank Act. Thus, it's a valid point to bring up.

''When it comes to leverage it is another personal choice and statistics don't always give you the best insight and always depend on the data collected as well as the source.''

lol. Spoken like someone who regularly over-leverages and blows up accounts.

''When I stated that the U.S. makes no sense I referred to the idiotic over-regulation which does not provide a safety net but is simply in place to provide a false sense of security.''

That 'idiotic' over-regulation helps to prevent forex traders from scams. Does U.S. regulation guarantee the safety of our funds? Of course not. The U.S. Regulation increases the chances that forex traders won't be scammed. Remember, the majority of forex brokers who engage in fraudulent activity or go out of business are located OUTSIDE of the United States. That sir, is a fact supported by historical evidence.

'It is no secret that most sophisticated traders and investors have fled the U.S. or are in the process to do so due to its regulation which is extremely counterproductive.'

What does this statement and the stock market have in common? Both are divorced from reality.
There are risk-lovers and there are risk-haters, but the best traders will take the risk as long as they get paid for it.
TheLastBear
Aug 09 2012 at 10:38
posts 186
Glad you think you know anything about my trading. Your statements simply display that you have a severe lack of knowledge. You are fortified in your believe which is ok. You think I over-leverage and blow up accounts because I informed you that your statistics don't give the right insight. You are the type of person who blames the tools and not the idiots who don't know hoe to use them. I guess you are happy with your 10% annual return and just don't know better. Your lack of intelligence is not your fault and the only thing divorced from reality is you claiming to be a trader.
Pax puts the X in Forex.
dlathrop
Aug 09 2012 at 11:37
posts 33
Trading statistics don't give the 'right insight'?? lol. Statistics are just an interpretation of raw data. I think you over-leverage and blow up accounts because you hide your trading record and insist over-leveraging isn't a fatal mistake.

My trading profile is public. Yours is not. Your talk is cheap if you aren't willing to back it up with a public trading record.
There are risk-lovers and there are risk-haters, but the best traders will take the risk as long as they get paid for it.
TheLastBear
Aug 10 2012 at 09:12
posts 186
You can be proud that you publish your trading profile and I could not care less about it. It is fine with me if people want to subscribe to your ideology and agree with it. I don't have anything to proof, especially not in a forum. I am here to state my opinion like most people. You are the one running around making idiotic assumptions about traders that you probably make in your trading portfolio.

Do you what you think is best for you is what I am leaving this discussion with as you are clearly not worth my time to have a discussion with. I have no problem talking about a topic with someone who has a different opinion, but without making assumptions.
Pax puts the X in Forex.
guru
Aug 11 2012 at 16:12
posts 6
Good reputation, a proven record of stability and no known history of scams, lots of useful tools, fast system and good support!
Igor
Igor123472
Aug 12 2012 at 06:25
posts 117

guru posted:
Good reputation, a proven record of stability and no known history of scams, lots of useful tools, fast system and good support!

That's correct!
remkade
Aug 21 2012 at 06:14
posts 2
Could someone explain how a US based broker can offer hedging? All the ones I've asked do not offer it, since its against regulations.

Is it really too much to ask that those of us who are aware of the risks of hedging be allowed to do it?
James_Bond
Aug 21 2012 at 07:09
posts 556
remkade posted:
Could someone explain how a US based broker can offer hedging? All the ones I've asked do not offer it, since its against regulations.

This is probably some sort of a backdoor in NFA regulations since as far as I'm aware, US firms cannot hedge (maybe they use an offshore branch). I just hope it won't backfire on them.

remkade posted:
Is it really too much to ask that those of us who are aware of the risks of hedging be allowed to do it?

I don't think it's too much. On the same note, I'm not sure why they're forcing it on everyone, this should be left to the trader's choice. Cigarettes for example are much worse than hedging, yet they are still being sold.
stevewalker
stevewalker
Aug 21 2012 at 09:04
posts 1439
the only way is offshore
they can also offer higher lev with that way
ATC does that

remkade posted:
Could someone explain how a US based broker can offer hedging? All the ones I've asked do not offer it, since its against regulations.

Is it really too much to ask that those of us who are aware of the risks of hedging be allowed to do it?
dlathrop
Aug 21 2012 at 22:33
posts 33
remkade posted:
Could someone explain how a US based broker can offer hedging? All the ones I've asked do not offer it, since its against regulations.

Is it really too much to ask that those of us who are aware of the risks of hedging be allowed to do it?

There are quite a few brokers in the U.S. that allow hedging on their MT4 platform. For example - see point #2 https://www.beamfx.com/videocatalog/chooseus.php
There are risk-lovers and there are risk-haters, but the best traders will take the risk as long as they get paid for it.
RobSchiz
Nov 18 2021 at 19:21
posts 567
dlathrop posted:
remkade posted:
Could someone explain how a US based broker can offer hedging? All the ones I've asked do not offer it, since its against regulations.

Is it really too much to ask that those of us who are aware of the risks of hedging be allowed to do it?

There are quite a few brokers in the U.S. that allow hedging on their MT4 platform. For example - see point #2 https://www.beamfx.com/videocatalog/chooseus.php
I expect a smooth and tension free service from my broker.
GraceGilm
Nov 26 2021 at 16:35
posts 154
from the broker you need to expect the right response from the staff and reliable, high-quality work!
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