Most Forex Brokers Are ....

[randy1953 10]

I posted about my response on a different thread. I admit I became too defense too quick but it sickens me when traders from a different market feel the need to put down the market I make a living from and they do this out of ignorance not out of research..

 

When you said most brokers that is close to a absolute . Are you familar with the NPA not NFA but Forex peace army. they do honest reviews of all forex brokers take a look and you will find that most are ok to very good and a few are scams.

 

Anyhow i have my truce flag up now waving at you..

randy

 

 

 

I don't know whether you are being deliberately obtuse or you did not read my posts properly. You attribute things to me that I have never said. I have tried not to make any judgement calls about anything or anyone. I certainly have not used any words like 'scum'. I will re-state things as plainly as I can.

 

Point 1)

1) There are two broad types of forex 'brokers'.

a) Brokers that allow transparent trading on an ECN.

b) Bookies (or Market Makers if you prefer) that take the other side of your bet/trade.

 

Point 2)

Many people that are critical of spot FX are talking about type b) (though not all there are straight up market makers).

 

Many people that are not critical of spot FX (or are even enthusiastic) are talking about type a)

 

Point 3)

Many of the disagreements about experience (which if you look back in this thread and actually read carefully what I said I have not offered my experience) come about because the naysayers are talking about two completely different set ups.

 

The irony is if you looked at what I had actually said rather than what you think I meant you might find that we agree. If you want to discuss what I have said fine, but the ad hominem attacks obscure your argument rather than add gravitas.

 

To make it simple (again) if you are saying that there are staright brokers out there that a retail trader can make money with trading spot FX, I agree. Not only that but depending how you trade you can do absolutely fine with both types. There now you have my opinion as well.

[macdfx 10]

Enjoy the Kool-Aid, Randy

:sleep:

[randy1953 10]

lol you sound like my kids but they have a excuse there 8 and 10..you sir just have a hard head you should go back to futures you will never make it in Forex with that attitude.

But I make it and do extremely well funny all the things you mention if they were real has no effect on my trading..

randy

 

 

 

Enjoy the Kool-Aid, Randy

:sleep:

[thalestrader 14]

Again you do not know what your talking about and it shows...

 

You have an attitude that is better suited to ET and it shows.

 

-Thales

Edited April 23, 2010 by thalestrader

[BlowFish 10]

I posted about my response on a different thread. I admit I became too defense too quick but it sickens me when traders from a different market feel the need to put down the market I make a living from and they do this out of ignorance not out of research..

 

When you said most brokers that is close to a absolute . Are you familar with the NPA not NFA but Forex peace army. they do honest reviews of all forex brokers take a look and you will find that most are ok to very good and a few are scams.

 

Anyhow i have my truce flag up now waving at you..

randy

 

No harm no foul :D.

 

The important thing is to get people that have had bad experiences with market makers (or bookies if I am being provocative ) to check out real ECN brokers. (Someone kindly posted a list earlier). Of course some people can not afford to trade with such brokers but that is a separate issue. BTW I am not saying that that all MM's are bad news but that is the 'wild west' end of the retail market.

 

Things are certainly improving for retail guys. Not so long ago there where hardly any brokers that offered transparent access (EFX & MBT where the first I am aware of). Until then Also with the plethora of MM type 'brokers' you are bound to get some decent ones though it does seem (only from anecdotal evidence) that they can slide after a while.

 

Mind you FX ECN's didn't exist for retail or commercial guys until about ten years ago, it was all RFQ (Request For Quotation) which meant phoning up the banks desk and asking for a price, impossible for a retail guy. I did have a CMC markets account before then but they actually made the market using CFD's.