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Captn_Calico

Członek od Mar 14, 2010  7 postów Capt'n Calico (Captn_Calico) Mar 14 2010 at 23:17 (zmieniany Mar 14 2010 at 23:31 )
biz0101 posted:
the regulation is there for a reason... and i'm sure many here would see it as a big negative point rather than an advantage.


Yes the reason is becoming extremely clear and it IS actually an advantage and I'll explain why and how... Why do they incest of passing regulations that the people do NOT want??? they want to keep retail traders from pulling money out of the corrupt and highly manipulated stock markets and putting their money into Forex. Like the Obama administration, this is history repeating itself all over again. Free markets work better when government: 1) stay's out of the way; and 2) keeps the playing field fair and free of fraud (nothing more, nothing less). The powers that be fail to understand history and this point eludes them for reasons that could only be described as ideological in nature.

This is exactly what happened when Futures were gaining market share, and the options brokers didn't like the fact that money was moving elsewhere. What did they do, push for regulators to decrease the leverage so that futures were no longer more attractive than options. Now it's Forex that is the more attractive marketplace... why? because there are many more participants... why? because you don't need a lot of money and it cannot be easily manipulated. Sure there are big fish, but the only thing scary to a big fish is a bigger fish.. and there is ALWAYS a bigger fish!

The problem with the regulators (like the Obama administration) is that they will FAIL not for lack of effort, but because they cannot see the forest from the trees and fail to grasp that a free market by its very nature is immune to socialist agendas. Let me explain... 1) NFA does NOT make money off of the retail investor, they make their money from the signatory member brokers with membership fees etc. It's the member brokers who make there money from the retail trader to pay the hefty membership dues; 2) All these regulations are doing is pushing the money overseas and to companies out of the jurisdiction of the NFA (like JadeFX.) With no money being made by the retail forex brokers, they will stop paying membership fees to the NFA and what really makes the NFA upset is that they can NOT force their policies on the rest of the world (although it can be argued that it is this very reason alone why they attempt these regulations -- hoping the rest of the world will follow -- but it will not.)

So while NFA member brokers have a handicap that diminishes their ability to compete freely in a global market, like water which always finds the lowest point, so too will the money.. right into the hands of those brokers ready to capitalize and fill the need being created by such socialistic policies and as pointed out we are already seeing examples of this.

History tells us the main problem with socialist agendas is that eventually you run out of people to tax.
Pray for Obama. Psalm 109:8

As it is with running any business we make money by buying wholesale and selling retail.
tbuitendyk

Członek od Dec 31, 2009  141 postów T. Buitendyk (tbuitendyk) Mar 16 2010 at 06:46 (zmieniany Mar 16 2010 at 06:46 )
Been trading with JadeFX since the beginning of 2010 and the experience has been positive. Very good spreads. Good execution. Fast account set-up. Plus I agree with the philosophy of these guys to not give-in to fed regulation. A very clean and easy trading environment that is a relief after trading with FXCM.

Gear on the left...
BenScoobert

Członek od Sep 20, 2009  276 postów Ben Scoobert (BenScoobert) Apr 29 2010 at 21:26

Captn_Calico posted:
    biz0101 posted:
the regulation is there for a reason... and i'm sure many here would see it as a big negative point rather than an advantage.


Yes the reason is becoming extremely clear and it IS actually an advantage and I'll explain why and how... Why do they incest of passing regulations that the people do NOT want??? they want to keep retail traders from pulling money out of the corrupt and highly manipulated stock markets and putting their money into Forex. Like the Obama administration, this is history repeating itself all over again. Free markets work better when government: 1) stay's out of the way; and 2) keeps the playing field fair and free of fraud (nothing more, nothing less). The powers that be fail to understand history and this point eludes them for reasons that could only be described as ideological in nature.

This is exactly what happened when Futures were gaining market share, and the options brokers didn't like the fact that money was moving elsewhere. What did they do, push for regulators to decrease the leverage so that futures were no longer more attractive than options. Now it's Forex that is the more attractive marketplace... why? because there are many more participants... why? because you don't need a lot of money and it cannot be easily manipulated. Sure there are big fish, but the only thing scary to a big fish is a bigger fish.. and there is ALWAYS a bigger fish!

The problem with the regulators (like the Obama administration) is that they will FAIL not for lack of effort, but because they cannot see the forest from the trees and fail to grasp that a free market by its very nature is immune to socialist agendas. Let me explain... 1) NFA does NOT make money off of the retail investor, they make their money from the signatory member brokers with membership fees etc. It's the member brokers who make there money from the retail trader to pay the hefty membership dues; 2) All these regulations are doing is pushing the money overseas and to companies out of the jurisdiction of the NFA (like JadeFX.) With no money being made by the retail forex brokers, they will stop paying membership fees to the NFA and what really makes the NFA upset is that they can NOT force their policies on the rest of the world (although it can be argued that it is this very reason alone why they attempt these regulations -- hoping the rest of the world will follow -- but it will not.)

So while NFA member brokers have a handicap that diminishes their ability to compete freely in a global market, like water which always finds the lowest point, so too will the money.. right into the hands of those brokers ready to capitalize and fill the need being created by such socialistic policies and as pointed out we are already seeing examples of this.

History tells us the main problem with socialist agendas is that eventually you run out of people to tax.
Pray for Obama. Psalm 109:8


If there was an applause smilie here, you'd get it.

See my profile for a no nonsense signal service.
MyLiveEA

Członek od Mar 21, 2010  68 postów MyLiveEA Apr 30 2010 at 02:14
Well I got all excited but then I saw the deal breaker. The Max leverage is 100:1 horrible many EAs need high leverage to run ..
randy

jhn_sells

Członek od Feb 10, 2010  3 postów Jim (jhn_sells) May 15 2010 at 16:49
When Jade decided to change liquidity providers a few months ago, first they said all open trades would be moved to the new provider. Then they changed their minds, got a little crabby and not so nice to get along with and forced everyone to close out open orders. I lost a lot of money (about $12k) because of Jade. Definitely would not recommend them. I thought they were the greatest thing around for the first few months. I should have listened to the folks preaching about them not being regulated. Live and learn. Don't make the same mistake.

If you're not paying taxes you're either dead or poor.
Captn_Calico

Członek od Mar 14, 2010  7 postów Capt'n Calico (Captn_Calico) May 16 2010 at 07:30
I was with them through the move and I never recall then saying the trades would be moved to the new liquidity provider (I'm not even able to wrap my mind around how that would even work in theory), but I was given ample time to wind down the open positions. In fact I was so tired of the slippage with the old liquidity provider that I wound down my trades early and requested the move early.

With that said, I am NOT happy with the new liquidity provider! At least the old liquidity provider would slip you both ways (for and against you)... this new one will ONLY slip against you, never for you. They also have been experiencing down time that is unacceptable during normal market hours. Their tech support is not as easy to get a hold of anymore. It's sad to see with all the new technology improvements, the quality of service has gone downhill.

I will be moving my accounts to FxOpen (True ECN) with the hopes that the ECN aspect will help make the marketplace a more fair marketplace as was the case when NASDAQ and their SOES system was unfair. For those who were not around during this time, NASDAQ did everything in their power to make it a fair place to trade for there own NASDAQ traders, and NOT a fair place for anybody else. NASDAQ bandits they were called for simply offering better spreads to the trading public. When NASDAQ complained, the regulatory bodies said there was nothing they could do because these 'NASDAQ Bandits' were making it a better place to trade for the retail trader. So what did NASDAQ do, implement crazy rules like the 5 min rule that said you had to hold a position for 5 mins before you could turn around and close it, and the 17 sec rule which said other NASDAQ traders were allowed to verify who the order was going to and had 17 seconds to reascend the order (so they could keep it all in-house). It wasn't until Island ECN and Archipelago routing reached that tipping point that forced NASDAQ to clean up it's act and start trading like a fair and free marketplace.

The same needs to take place in Forex and I welcome a true ECN (that allows hedging -- sorry MBT) and I encourage all traders to demand ECN trading so that we together can make this marketplace a more free and fair marketplace.

As it is with running any business we make money by buying wholesale and selling retail.
protraderforex

Członek od Oct 16, 2010  10 postów protraderforex Oct 16 2010 at 04:16
I have to Admit that out of 15 Brokers i have used in the past 7 Years . JadeFX is the Best . Some new traders will always Complain and scream at nothing. Some of us traders , expect things that only exist in our dreams.

Three things that i need to trade successfully

1. Low insititutional Spreads & Fast STP Executions
2. Low Commissions
3. Honesty in their executions

I believe some of us traders need to understand that brokers do business to make money and they are not charity but as long as i know what i am paying at the forefront then i have no problem . I have been with JadeFX for over 1 year and frankly , they are one of the Best in the business and no bullshit .They are honest and provide all the 3 things i need to succeed.

Now if the 4th thing you need is A Good Trading System not 99% Garbage Expert Advisors being sold on the Internet. Without a Good Trading system that can survive all the Market conditions it does not matter how good your broker is, you will always loose money . So Get yourself a good trading strategy , automate it , Backtest it , forward test it and then Trading it.


protraderforex

Członek od Oct 16, 2010  10 postów protraderforex Oct 16 2010 at 04:27

MyLiveEA posted:
    Well I got all excited but then I saw the deal breaker. The Max leverage is 100:1 horrible many EAs need high leverage to run ..
randy


I guess you need to wake up and realize the truth about Leverage. True STP or ECNs to True Banks offer between 50:1 to 200:1 but mostly 50:1 to 100:1 . That is because that is the Risk the True Banks are willing to take on Leverage.

Any Broker offering you anything about above 200:1 e.g 500:1 or 400:1 or 300:1 is a Dealing Desk though they might tell you that they offer STP. You need to find a broker who is a PURE STP or ECNs.

But also you have to be careful about ECNs .Not all ECNs go the Liquidity Banks and it also depends on what is in their Liquidity Banks Pool ( Liquidity Banks, Prime Brokerages & Retail Traders )

Treideri

Członek od Mar 30, 2010  1 postów Treideri Mar 10 2011 at 21:12
The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of a complaint in the U.S. District Court for the Western District of Wisconsin charging defendants Jacob Juma Omukwe, JadeFX Ltd. (JadeFX) and Jade Investments Group, LLC (Jade), all of Wisconsin Dells, Wis., with operating a fraudulent off-exchange retail foreign currency (forex) scheme through the website www.jadefx.com. None of the defendants has ever been registered with the CFTC.

The CFTC complaint alleges that, from at least June 2009 through the present, Omukwe, Jade FX and Jade fraudulently solicited and misappropriated more than $3.2 million from more than 500 customers in the United States and throughout the world to trade forex. Contrary to Omukwe’s representations, only a fraction of customer funds were traded and most of the funds were misappropriated. In addition, the complaint alleges that JadeFX and Omukwe failed to register as a retail foreign exchange dealer (RFED) and associated person (AP) of an RFED, respectively, as required under the Commodity Exchange Act (CEA) and CFTC regulations.

Defendants allegedly made explicit but false guarantees on the JadeFx website including that (1) all customer funds are traded in forex, (2) customer funds are completely segregated from JadeFX’s operating accounts and (3) customer funds were protected from bankruptcy.

Instead of segregating customer money into separate accounts, Omukwe allegedly pooled all customer funds together into bank accounts that he exclusively controlled. From these bank accounts, only a portion of customer money was traded in forex. Omukwe allegedly misappropriated the remaining funds to pay for personal and business expenses, including the operational costs of JadeFX and Jade.


anhydro

Członek od Apr 14, 2010  16 postów Jozsef Nagy (anhydro) Mar 11 2011 at 03:34
Yes, it is bad....also having funds with JadeFx, hoping to get it back one day :-(

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.