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"...explained that MT4 is not really compatible with ECNs."
and as I understand MT4 don't care about traders they only care about their cleints market makers ( Brokers) .. so what TF are we doing using MT4
Maybe its better to contact Metaquotes and know the truth from them
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another interesting posts about the dirty business of the brokers http://www.talkgold.com/forum/r95352-.html
and see the links on the first post
Yep, I love MT4 just as much as everyone else here, but it's the sad truth. That's why I only use MT4 for charting not trading. Oh well, it is a great free charting platform..? sigh....
All this information you guys are starting to uncover is very disheartening to me. Not that I am naive to forex or investing at any level, but I am begining to believe that anyone who cannot afford an ECN account ($50,000+) is pretty much on the outside looking in. Meaning that these dealing desk crooks are going to methodically (over time if your lucky) drain every penny out of your account because they have the advantage and we just don't know it. Honestly...I'm a big boy I can take it someone please fill me in if this is the case and the forex market will never get another penny of mine.
The relatively large initial balance required to have your account traded is here for a reason , and the reason is to permit me to be able to sleep at night without worrying about Bernanke speach, Nfp , 9/11 , Tsunami's or god knows what can happen.
aleccoh
Hi aleccoh,
Do you have any provisions for those with only small amounts to trade?
All this information you guys are starting to uncover is very disheartening to me. Not that I am naive to forex or investing at any level, but I am begining to believe that anyone who cannot afford an ECN account ($50,000+) is pretty much on the outside looking in. Meaning that these dealing desk crooks are going to methodically (over time if your lucky) drain every penny out of your account because they have the advantage and we just don't know it. Honestly...I'm a big boy I can take it someone please fill me in if this is the case and the forex market will never get another penny of mine.
I didn't know that, till alecco opened my eyes, I was happy with the mini accounts I am having fun with ... I stopped using standard account almost 7 month ago, once I got my stoploss hit by forex.com and the market never reached the price where they kick me out by a big spike they apologized and said tht one of thier cleints draw his money and that caused the spike, I got my money back, but still I was scammed.
when Brokers see standard account with big money they start to play their game, I saw this happening but only till alecco told me about it, I didn't want to believe...
The big question still stands .. is there is broker or an ECN provider than we can trust ? those who have experience with ECNs might help to answer
"And I would definately stay away from IBFX... I use to work there, bigger problems than you want to know about, trust me..! Stay away...."
by riffster
why the hell none of my team members or anyone on this thread warned me about these scammers before i introduced good people to them ?????
Now i am really mad
aleccoh
Yea, sorry... Here's the poop on IBFX. You can follow the paper trail on the NFA web site, but: IBFX truely doesn't have a dealing desk. In fact, they are basically just a hugh IB for a clearing firm call Forex Liquidity, but that's where it all falls apart. Forex Liquidity does have a dealing desk and one of the most sophisticated. Forex Liquidity is to the retail forex, what Halliburton is to the Iraq war. They are hugh and provide liquidity to a lot of the larger FCM's. Mini accounts are the key to staying under the radar. However, I would just stay away from them altogether.
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