Truth about 95% forex brokers

aldragon

aldragon

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As the title states ,95 of the Forex brokers cheat, I can provide with answers to many of the trader's questions here at BHW due to the fact that I spent many years doing SEO for 2 forex companies, and also worked many time doing shifts at the "dealing room"
This means basically that I know most of the cheats they do to you and I'm offering advice on how to avoid them.
I opened this thread mainly for the ones that have traded already and are interested to continue trading.
 
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I have no forex experience. However, interested in knowing how they cheat?
 
I am doing trading from 3 years on agea which is marketivia before. Tell us what do you know.
 
I know that too, but not from my experience but from former worker of some forex company.
 
also interested to know the master cheats...!
 
Hi,

Id be extremely interested to find out how they work out of a currency is about to fall or go up ? In a short period ?

Is there a little cheat for this ?
 
MrSoiza said:
Hi,

Id be extremely interested to find out how they work out of a currency is about to fall or go up ? In a short period ?

Is there a little cheat for this ?
Click to expand...

This. Can you answer this OP?
 
I think this thread would be more useful if you told us what you know to start. This way people
can really know what to ask.
 
By the way that the OP says that 95% of forex brokers cheat you, I would say that his knowledge of forex is very very very limited. It is the kind of crap you hear from people who have had their finger burnt in forex, believing that they were going to become an overnight millionaire by buying some crap software. Trading forex is a skill and not for everyone. As for dealing desk brokers, simply do not use them use an ECN forex broker instead.
 
mickyfu said:
By the way that the OP says that 95% of forex brokers cheat you, I would say that his knowledge of forex is very very very limited. It is the kind of crap you hear from people who have had their finger burnt in forex, believing that they were going to become an overnight millionaire by buying some crap software. Trading forex is a skill and not for everyone. As for dealing desk brokers, simply do not use them use an ECN forex broker instead.
Click to expand...


You are right.

The majority of Dealing Desks make money on your trading losses. They don't need to "Cheat you" per say... since the average joe who is not smart enough to seek out a ECN is going to lose anyway as trading in the Forex market is incredibly tough.

I have seen evidence some real shoddy brokers stop hunt on some accounts and that may be what the OP is referring to.
 
All dealing desk brokers make money on your losses as they make money by trading against you, they also make money on the spread whether the trader wins or loses. In theory it is best for a broker if you continuously win as then you are continuously paying a spread. There are some however (the bucket shops) who are just there to take big chunks of money and very fast. But to say 95% is ludicrous and proves very very limited knowledge.
 
Most noob traders are just too stupid and greedy when it comes to FX. So they blame brokers for their losses. Small brokers cheat. Option Brokers cheat you out of a couple of pips and cents, but overall tader's lose their money because they are bad at what they do.
 
mirrorer said:
This video says it all guys
http://www.youtube.com/watch?v=bGWAEX5xtpY
Click to expand...

No this video is an add for a broker saying don't use any other broker use ours. This is why forex trading is as it is. You have every broker inventing stories about other brokers trying to give them a bad rep. Then you have the idiot newbie traders who think they have been robbed because they have no clue what they are doing. Forex is for people who know what they are doing, lets be honest a person does not just get up in the morning and become a pilot, and then blames the plane if it crashes.

Oh and this is nothing like how fraudulent brokers scam people, this is just some invented shyte. Fraudulent brokers freeze their platforms and lock people out so that they cannot pull out of their trades.
 
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knowledge is the power bro.if you do not know and do not pay attention on the terms and conditions of the broker,well you will cry at the end and you will blame the broker.he is cheater.:banghead: how he can do such a thing.
PS wise money-goes up % ,gamblers or forecast money-you know the answer:tropical:
 
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