Newbie Help Request

[Stringer]

Hello,

I recently became interested in the forex market. I opened up an account a few days ago with forex.com. The minimum account was $250. Its all gone.

I wanted to get a micro account instead. Where do I go? I keep hearing the word scam so I wanted to be sure i dont get scammed as im already out 250 in a couple days. Who do I go with? I asked the forex.com rep about a micro account and i got the run-around ... maybe they have it, maybe they dont. just alot of crappy information. they couldnt help. Then i tried signing up at FXCM Micro and it didnt work ... apparently my SSN, name, car, and phone are all fake so they wont let me join.

Then i joined fxopen and it seems really lame. the live help person doesnt speak english, there is no login button on their home page, and islamic crap is on their website. online reviews are all from ppl in nigeria.

please help. i want to get involved with forex before all these roadblocks take away my interest entirely.

thanks for looking.

[chedahead]

Is this just part a scam used by MT4 brokers? See the thread below about the dealer plug-in that allows “dealing desk” or in this case Non-dealing desk, because it is all computerized, brokers manipulate the trades and prices.

Is Forex trading the “Las Vegas” of the financial markets?

[chedahead]

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.

[Stringer]

dude what are you talking about? and why are all the posts backwards? this is rediculous.

[Stringer]

this post belongs at the bottom, and my original post belongs on the top. is everything backwards around here??

[chedahead]

Did I mess something up? Sorry if I did, I'm new to this posting stuff, my apologies to you.

[Sweet Pip]

Originally Posted by Stringer

this post belongs at the bottom, and my original post belongs on the top. is everything backwards around here??

You can set preferences in your profile as to how you want to see the posts ...newest on top, or oldest...you decide, but it defaults to begin with

[Pips4Breakfast]

Originally Posted by Stringer

Hello,

I recently became interested in the forex market. I opened up an account a few days ago with forex.com. The minimum account was $250. Its all gone.

I wanted to get a micro account instead. Where do I go? I keep hearing the word scam so I wanted to be sure i dont get scammed as im already out 250 in a couple days. Who do I go with? I asked the forex.com rep about a micro account and i got the run-around ... maybe they have it, maybe they dont. just alot of crappy information. they couldnt help. Then i tried signing up at FXCM Micro and it didnt work ... apparently my SSN, name, car, and phone are all fake so they wont let me join.

Then i joined fxopen and it seems really lame. the live help person doesnt speak english, there is no login button on their home page, and islamic crap is on their website. online reviews are all from ppl in nigeria.

please help. i want to get involved with forex before all these roadblocks take away my interest entirely.

thanks for looking.

It just simply sounds like you need to open up a demo account with a broker. This serves two purposes: 1) You get to explore that broker, learn if it is a company you want to stick with, and 2) You get to practice Forex with no real money at stake.