Sunday, April 23, 2006
The Switch
I'm having second thoughts about depositing my money with FXCM after reading what other traders are saying about retail brokers.
There are reports of fraudulent activities such as stop hunting (spiking the price to trigger your stop loss) and trading against their customers using the advantages that they have.
From the above thread, InterbankFX seems to be the least evil among the retail brokers. They've received some pretty good testimonials from satisfied traders. They are also using MetaTrader4 as the trading station which allows a Windows Mobile usesr like me to trade on the go.
As soon as I managed to spare USD500 I'll open an account with them. I'm glad I didn't get started with FXCM. I believe it would have been a complete waste of USD300. It's always adviceable to check out what others are saying before putting your money with retail broker. Ultimately, once you have enough money (USD50-100k), it's time to go with the bigger brokers.
There are reports of fraudulent activities such as stop hunting (spiking the price to trigger your stop loss) and trading against their customers using the advantages that they have.
From the above thread, InterbankFX seems to be the least evil among the retail brokers. They've received some pretty good testimonials from satisfied traders. They are also using MetaTrader4 as the trading station which allows a Windows Mobile usesr like me to trade on the go.
As soon as I managed to spare USD500 I'll open an account with them. I'm glad I didn't get started with FXCM. I believe it would have been a complete waste of USD300. It's always adviceable to check out what others are saying before putting your money with retail broker. Ultimately, once you have enough money (USD50-100k), it's time to go with the bigger brokers.
# posted by Camus @ 4:24 AM 