I have been demo trading for 2 years now. In my research on brokers, the only people I know that are trading live are trading only with ECN type brokers. They use the charts from the "dealing desk" type brokers, but they don't put there money there. It makes no sense to trade with a broker that is trading against you.
Here is what happened to me yesterday:
I am trading a Demo account.
MT4 platform with ALPARI-US
I placed a Pending Sell Stop Order
September 23, 8:45 - 8:51 on the Meta clock
EUR/USD
Sell Entry at: 1.4757
Stop Loss at: 1.4769
Take Profit at: 1.4738
Order # 287509
ACC # 67113
Within a 5 minute bar price went from 1.4805 to 1.4710, I though cool I just
got 31pips. Wrong.
I was still in the Trade only it Entered the Sell Trade at 1.4712
The stop was still in the same place but the Target was gone.
Immediately price bounced back up and took out the stop loss for a total
loss of 57PIPS!!!!!
I then checked my account history and it has the trade listed as:
Price (entry) 1.4712
(No take profit)
Stop Loss: 1.4769
for a minus -57pips
Sell Entry 45pips below my set entry??????? Come on!
I have sent 12 emails try to get a response from Alpari-us and Alpari-uk, but nothing so far. If this is the way it all works then what is the point.
I have been putting off learning the platform offered by MBTrading (an ECN broker) but it seems now they are my only hope for something honest. I think their minimum account is $400USD.
It what the guys I know that are trading live are using.
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