Hi and welcome to the world of forex trading where nothing is what it seems to be from the surface. Welcome to the world of forex market makers, pretend STP's and false ECN's. And welcome also to the forex world where your broker is actually your counterparty and therefore has a direct conflict of interest with you. It works this way: You place a trade, they are on the other side of it. Therefore when you buy, they sell to you and vice versa. It is therefore in their interest for you to lose money because from being on the other side of your trade they profit from your losses. And if you win too often, you are taking money from them. That's when some games start to happen like delays, freezing platform, slippage, requotes, offquotes and so on. And although they advertise STP and ECN many of these brokers are simply bucketing the majority of trades in house carrying the risk so it is in their interest to take care of the losers and make life hard for the winners.Why on earth do forex brokers do this sort of practise, it makes no sense, I mean if you are making money from trading doesn't that mean you will stay longer, therefore make more trades, therefore provide more income to the broker. I am preplexed as to why forex brokers feel the need to resort to this sort of practise
Any thoughts on this anyone?