Quote:
Originally Posted by tymen1
I think the brokers all have the same boss - his name is Osama Bin Laden.
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I certainly hope you were making that statement in jest, otherwise that might very well be the most inflamatory statement I think I have ever seen on any forum of this kind.
While I certainly agree with Tess that the business model for the dealing desk brokers presents opportunities for abuse, let's not start labeling them all crooks and fronts for organized crime and/or terrorists. I'd be willing to bet that most folks in the business are honest types. As ever, it just takes a couple of less than honest ones to create an industry-wide bad impression.
I can't help but laugh at all of these charges of impropriety. I'm not talking about people walking away with customer funds or anything like that. I'm referring to stop running and other price manipulation type complaints.
First of all, most cries of foul come from folks who did stupid things in the market, lost money, and want someone other than themselves to blame. Secondly, people act like forex brokers are the first to be accused of such things. The guys in the trading futures pits (a highly regulated market) have been accused of running stops and the like for years. Ever heard of "fast market" conditions?
My point is you need to understand the structure underlying your trading, and obviously do your due diligence in terms of the folks with which you are dealing. If you do that, you can avoid getting caught out.