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Name 5 brokers You would trade with for 60ts> usd trading account without fear

K2000
Mar 31 2014 at 05:19
8 投稿
Which broker You would trade with, without fear of bad behavior, like a not US citizen ? (maybe question just for pros full-time traders)

Name 5 brokers You would use for trading account over 60 000> usd, for trading 1400-2000> lots RT/month, without fear of criminal practices (like false spikes, candlesticks-price manipulation, different price filling without market touch, withdrawal holding, fraud, asymetric pricing, asymetric slippage, dealing desk execution order dellay for requotes...) still with reasonable spread/commision ?
K2000
Apr 02 2014 at 07:16
8 投稿
Nobody believes in no broker 😄

... how to trade ?
PTG (ProTradersGroup)
Apr 02 2014 at 08:13
386 投稿

Trade at NFA, FCA, FINMA… regulated brokers with over 10 years operating.

Good luck!...
K2000
Apr 03 2014 at 21:30
8 投稿
Thank you ! :)

yep, regulated broker is very good point.


No conflict of interest will be good thing too. (I forgot wrote it before)


Regulated by .., over 10 years and no conflict of interest - hard to say if any like this exist.
Bob LLewellyn (ForexAssistant)
Apr 04 2014 at 20:37
465 投稿
There are two answers to that question. The first is the straight out answer, Lucror out of New Zealand. I can say that because I know the owner and talk to him on skype from time to time,so I feel that I can trust him. But that brings up the send part of the question, can you really trust anyone?

What is preventing my friend from going insane? Or dieing? When you are setting up your investment strategy, the best or safest strategy is to diversify often. Add new brokers and keep the total balance small. If you are a US citizen and are restricted to 50:1 for the margin, I can recommend FXDD (have had an account with them for over 5 years). For those with smaller investments, IBFX has mini accounts where each trade is 1/10th the standard account. Use this for faster growth.

I was around when 'One World' went under with all the investors money. Make sure that your broker segregates the investors funds from their own. One World didn't try to rob anyone, but because they were not segregated, when they went belly up, the courts put the freeze on the investors holdings.

Last piece of advice is to use a straight through brokers (ECN) that is, they don't take the other side of the trade from you. They pass the trade on to a computer bank, which is also a bank's computer and they, the brokers, then has no invested interest in playing with the price or any of the little tricks and devices that all brokers can do.

So I have given you some names of trusted brokers, but I will end in the advice offered by President Ronald Reagan when he said, 'Trust but verify'. I say, trust but diversify.

Bob
where research touches lives.
FxMasterGuru (FxMasterGuru)
Apr 05 2014 at 10:51
1608 投稿
Mostly I agree with Bob, except for the fact that ECN brokers 'don't take the other side'. Well, some ECN brokers do take the other side sometimes, and they use the term 'A' and 'B' booking for it. 'B' booking meaning that they take the other side of their clients trades, so those orders never see the 'real' market. (Naturally, 'A booking' means that the orders are routed to the liquidity providers, the 'real market').

Actually 'B' booking is not necessary bad, as sometimes the broker (especially if it were a mainstream broker with thousands of customers) can provide better 'internal' liquidity than the actual 'real market'. I have seen that with one of my strategies.

You may ask: Why would any ECN broker in its right mind provide better liquidity for its clients than the 'real market' (i.e. the liquidity providers) and take the 'other side' (i.e. the risk) of their clients' trades? Well, the answer is in the statistics: 90-95% of traders lose their monies, so by taking the 'other side' they collect not only the commissions and the 0.1-0.2 pips upmark of the REAL ECN spread, but they also take whatever 90-95% of their clients lose. Most definitely it makes sense... (statistically).

Once they notice that some of their clients are 'too good' (i.e. belonging to the 5-10% on whom they lose by taking the other side), they simply convert those accounts to 'A booked', so this way their 'B booked' clients are mostly those who keep on loosing and giving their losses to their brokers as profit. Pretty good and rational business plan...
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Bob LLewellyn (ForexAssistant)
Apr 05 2014 at 22:57
465 投稿
realize that definitions can get a bit blurred over time so I look up the current Investopedia definition;

Definition of 'ECN Broker'

A forex financial expert who uses electronic communications networks (ECNs) to provide its clients direct access to other participants in the currency markets. Because an ECN broker consolidates price quotations from several market participants, it can generally offer its clients tighter bid/ask spreads than would be otherwise available to them.

Investopedia Says
Investopedia explains 'ECN Broker'

Since an ECN broker only matches trades between market participants, it cannot trade against the client, an allegation often directed against some unscrupulous retail forex brokers. Because ECN spreads are much narrower than those used by everyday brokers, electronic communication networks brokers charge clients a fixed commission per transaction.

https://www.investopedia.com/terms/e/ecn-broker.asp

Bob
where research touches lives.
FxMasterGuru (FxMasterGuru)
Apr 06 2014 at 10:40
1608 投稿
Well, ECN brokers - who 'B book' their clients - do not trade 'against' their clients, they simply take the other side of their trades. It is their choice - if and when - they decide to act as legitimate market participants (in addition to being a broker). There is nothing wrong with it, especially, if they can provide better and faster executions this way.

Although the above info is not from Investopedia, it was explained to me by a representative of a well-respected and mainstream ECN brokerage.

P.S. An additional info from a hedge fund manager: Most orders below 50 lots are 'B booked' by the retail brokers, i.e. such orders do not even see the 'real market' (i.e. the liquidity providers). Again, there is nothing wrong with it, if it does not involve execution delays and slippage.
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cubist
Apr 06 2014 at 17:23
10 投稿
I have traded actively with Oanda (US, then Canadian division) since 2008. Fair, reliable and sound. I would not risk any other. (which is not to say there aren't other good ones out there)
 
K2000
Apr 08 2014 at 06:28
8 投稿
I very much thank you All for helping ! :)


So, it looks like the solution is:

- FCA, NFA, FINMA regulated
- long time well working company
- segregated accounts
- ECN/STP, NDD/STP
- to be careful about conflict of interest
   - if it not influence slippage, delays and so on - It is ok
   - 'trust but verify' !
   - 'A' booking, 'B' booking orders exist
   - volume of order - yes, it does matter
- to diversify money to more brokers
Bob LLewellyn (ForexAssistant)
Apr 08 2014 at 07:40
465 投稿
You know, I have a lot of this written up but forgot about it, but here's what I look for.

https://forex-assistant.com/brokers

Might help a little.

Bob
where research touches lives.
FxMasterGuru (FxMasterGuru)
Apr 08 2014 at 10:17
1608 投稿
K2000 posted:
I very much thank you All for helping ! :)

So, it looks like the solution is:

- FCA, NFA, FINMA regulated
- long time well working company
- segregated accounts
- ECN/STP, NDD/STP
- to be careful about conflict of interest
   - if it not influence slippage, delays and so on - It is ok
   - 'trust but verify' !
   - 'A' booking, 'B' booking orders exist
   - volume of order - yes, it does matter
- to diversify money to more brokers

Yes, you have summarized it quite well.
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
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