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Originally Posted by Morpheus
Do they know that what they (IBFX and FXDD) do will be discussed on these forums? Yes, but I don't think they care. As of right now, IBFX and FXDD must still be making money. I think they are doing the cut and run thing. Take your profits, close down the business and head out somewhere else or pop up again under a new name. Hell, it's probably legal. If things get to bad, they'll just close down the business and you may or may not get your money from them. I guess it depends how much they may have lost.
I'm just speculating here so I don't know but what else could a broker with that many disconnections and errors do in the end ? If you , engage one of their live operators in a discussion they really seem to take on the attitude of just not caring. That tells me that they have a plan B already in the works.
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BS!
For the past 3 weeks or so, FXDD has been having tech issues with the MT platforms. Why do I know this, because I've been trading left and right during all of the sessions (mainly London/Euro into the uS open) and they've had issues with servers and scripts and what have you, all the technical jargon that I don't really understand. What I do know is that every single time I have called to get answers, they have made me whole again 100%, without question or hassle.
I was not in the market during NFP, so I can't comment specifically on that.
To the person who posted that FXDD had "10 times more complaints" on that forexbastards.com site, you are an obvious idiot, as you can't even read. Most of those posts said that they were a decent or honest or good broker that although had some issues, would be used again by each reviewer.
I will be calling my contacts at FXDD to get what the story was on Friday morning and will be happy to post that here.
As written in an email from Tom O'Reilly to me, his quoted words were:
"You will never be asked to leave on account of profitability - it makes no difference to us. With the low success rate in this industry, it is always nice to see a fresh light of winners amongst the rest of the crowd."
Tom is the Senior VP of Sales and has always done everything in his power to help me and anyone else i send to him as best as he can.
I've said it before, and I'll say it again - THOSE WHO TRADE THE NEWS SPECIFICALLY ON A RETAIL PLATFORM ARE BOUND TO GET SCREWED BECAUSE THERE IS NO GUARANTEE OF WHAT WILL HAPPEN!!!
If you're going to trade the news, do it on an ECN or through the CME with the futures. Hell, intraday margins are as low as $500 for 1 standard contract, which is higher leverage than most Spot brokers give, ie with 100:1 on cable you'd be putting up nearly 2 grand at today's rates.
The bottom line is, FXDD isn't a scumbag company and I'll continue to do business with them until I have a good reason not to do so. My only complaint is the way that sometimes they shift the price and/or don't update it as quickly as others, but this is an advantage if you know how to exploit it.