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Reading Between The Lines

Discussion in 'Company Articles' started by Javier Keeth, Jan 8, 2011.

  1. Javier Keeth

    Javier Keeth FigFx Representative

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    Hello Respected Readers,

    My name is Javier Keeth, and I represent the interests of FigFX Brokers.

    Today, I decided to write this article which I personally think will reveal some sad, yet true facts about forex brokerage services.

    For over 2 years, FigFX has been offering it's services to clients worldwide, and with any other broker around, we have had scam accusations and different types of cases and investigations.

    Traders in one hand, always find a reason or a way to shout loud, this broker is a scam. Brokers on the other hand, always try to always defend themselves by proving that that accusation was not true.

    Just because of this never-ending conflict, the FPA exists. It was meant to be offering some sort of supreme court that tries to settle down such issues between traders and their brokers.

    I myself, have been here over the FPA (and other) forums solving issues and offering help where possible. Some people cursed me, some called me a spinner, some love my way of handling things, and some feel their day is destroyed if they see me around.. Wonder why??!!

    Maybe I look at things from a different angle, maybe it's the nature of my work handling such cases for a company, while still making sure to satisfy the client.. Believe me, it can not be called an easy job.

    Today, and after FigFX Brokers sent out a regular email to some users, I got what I can a decent reply from a user, who found a spare minute to express himself absolutely frankly.. he said everything he had in mind.. his answer is quoted below.. and under that is my explanation and comments about the reply.

    Let's read between the lines:

    1- your program is that it is too complex.
    This gives me a first impression that this user is a newbie. He does not even have any experience with Metatrader.

    2- I thought is that I just have to open an account and deposit some money and then I will start making profits.
    How sad this is; Really. Google Analytics for FigFX Brokers show us that 8.12% of users opening trading accounts in 2010 did read the risk warning before doing that. I have no doubt that the other 92% though exactly the same thing, they just an account and profit will start to come in.

    3- your rules are too many and they are written as if you expect that it is everybody that already knows about forex.
    Hhmm.. Well, yes actually, that's true.
    When you hit any broker's website, it is expected that you know where you have just landed and why are you there exactly.

    Don't get fooled if some broker has an education section with some "foo" articles.. those were put there just for SEO reasons. The broker does not actually care in general weather you know what you are doing or not. The less you know, the more mistakes you will make, the faster you will lose and the faster the broker will win.

    I would suggest all traders to-be to pay Investopedia a visit, check other resources that teach you the rules of this new arena, then jump in and fight. Ok, you do not need to know the complete glossary, but you at least expected to understand what it means that bears put more pressure on bulls trading the loonie today, the RSI is heading south but fib 31.8 is waiting. If you do not know what that exactly means, do not trade forex; it's that simple.

    ------------------------

    I wish I made my point clear, educate yourself, you will need that sooner or later. I just loved how this person was honest in letting us know he is not qualified, saving us and me personally tons of trouble when he gets his first requote or get a 'context-busy' message. No doubt he will shout scam before reading about it.

    Finally, I would like to wish you all happy trading experience with your beloved broker.
     

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