mikero
09 Nov 2013, 04:29

Only 7% of all Forex traders make money. The rest lose their house, their car, and their shirt.

90% of Forex platforms are brokerage houses. They lose out every time you win. You don't need to be Einstien to figure out how badly they want you to lose. The only remarkable thing is how ruthless they are. These guys don't steal from their grandmothers if they have to, they steal from their own family every chance they get. This is the personality you are dealing with.

And they certainly don't care about 'reputation' coz there's ten more idiots, just like you, waiting desperately in line to get rich quick.

A brokerage house sets the price and it has no bearing on (nor any effect on) the real market other than it sorta kinda follows the banks, when they want to. Other than that, it's whatever they have to do to set a price where winner takes all. It's all 'spikes' right?

As mentioned above, the only chance you have is via STP (straight thru processing), and that is regulated. The agent has a positive interest to see you do well because you'll come back for more. Forget about ECN the crafty brokers claim to be ECN, they are not STP.

A rule of thumb is, If the 'agent' charges a commission, and low spreads, they are stp. They want you coming back over and over again to grab a percentage. It's not a safe bet, it's not concrete, but the best you're gonna get.