Quote:
Originally Posted by zuijlen
I think the bottom line is that you're on your own in judging a broker. If you feel safe with a company that has a lot of capital, go with FXCM. They have nothing to offer me, but that's a personal choice.
The only meaningful change the NFA (or whoever) could impose would be if the accounts of forex traders would not count as assets in case of bankruptcy. We all remember Refco: the futures traders were fine, the forex traders were screwed.
I also feel that rules and regulations have to be meaningful and I have my doubts about the NFA in that regard. Wait until they feel they need to have a say about anything and anyone concerning forex; soon you will not be able to post a chart without a disclaimer.
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FXCM dont work man they are a scam insider info etc etc ETC for years, saying how your positions aren't even traded its all a setup.
4 years ago I used them for about 3 months and lost about 90% due to odd things happening.Friends who had years in the biz told me to report them and I did and I never got a reply.
A guy just reported and filed a claim with the NFA against Farr Financial INC an ecn in California registered commodoties broker, and he received his payout.
WHy?Because they are a registered commodoties broker NOT just an FCM.
So if you trade the currency futures, at minimum margins etc, then you are protected, if you trade OTC you ain't got jack shit no matter who its through.