Steven_Smith
Private
- Messages
- 22
It's not for everybody.
income return
- Thread starter TimeTrade
- Start date
It's not for everybody.
Simon Edwards
Corporal
- Messages
- 90
As i understand it Brokers can make money in 4 ways :
A) They take the risk
B) Hedging
C) STP (Spread)
D) Paid by banks
A will fleece you B is not much better and D is irrelevant.
Theoretically C is the best choice as they make money on the spread and have no real vested interest in you losing.
The biggest problem you'll find is finding a *good* broker. The FPA does a good job in moderating the reviews but how much can you trust....
If a recruit posts a great review of a broker then i pretty much ignore it , the higher their status the more you can trust.
With retail trading getting more and more pushed on the net you can expect brokers to be posting there own reviews etc more and more.....i bet some have there own dept that solely posts great reviews and bad ones for other brokers.
The Scam brokers will get worse as well. I worked out today just how rediculously easy it would be to setup a scam broker and operate as if it was a real broker. That in mind before you part with money , INVESTIGATE them to a micro level and when i say micro i mean to the sub atomic level.
A) They take the risk
B) Hedging
C) STP (Spread)
D) Paid by banks
A will fleece you B is not much better and D is irrelevant.
Theoretically C is the best choice as they make money on the spread and have no real vested interest in you losing.
The biggest problem you'll find is finding a *good* broker. The FPA does a good job in moderating the reviews but how much can you trust....
If a recruit posts a great review of a broker then i pretty much ignore it , the higher their status the more you can trust.
With retail trading getting more and more pushed on the net you can expect brokers to be posting there own reviews etc more and more.....i bet some have there own dept that solely posts great reviews and bad ones for other brokers.
The Scam brokers will get worse as well. I worked out today just how rediculously easy it would be to setup a scam broker and operate as if it was a real broker. That in mind before you part with money , INVESTIGATE them to a micro level and when i say micro i mean to the sub atomic level.
Last edited:
Johnny2pips
Sergeant
- Messages
- 178
Well, I chose Avafx. Not that I fully trust them at this stage. Must still try to withdraw and all.
The reason I chose them is that:
Their website states that they don't gain if you loose.
They send you signals for intraday morning and afternoon that I have used profitably in my Demo Acc.
Their Debit Card can be used at an ATM for withdrawals.
I will still have to test this and post my experience in the "Broker Thread"
The reason I chose them is that:
Their website states that they don't gain if you loose.
They send you signals for intraday morning and afternoon that I have used profitably in my Demo Acc.
Their Debit Card can be used at an ATM for withdrawals.
I will still have to test this and post my experience in the "Broker Thread"
Simon Edwards
Corporal
- Messages
- 90
not sure about Avafx , I'm with MBTrading at the moment and as long as you don't want to trade News (Their slippage sucks worse than a 10 dollar hooker....avg 50 seconds to get filled on news release) they seem to be pretty good.
Trade small at first , slowly ramp it up , run another mt4 demo on another broker and watch to see if there are any major descrepancies bearing in mind that spreads will be different but any out of place spikes should have quazimodo ringing that alarm bell
