As I noted in my previous post, the vast majority of brokers don’t hold net positions so if someone is making money, they aren’t making it at the broker’s expense. Those profits come from the market, meaning other traders.
I have been trading with oanda for several years and found them pretty trustworthy. The largest margin I put up was $80,000 and made huge in the hedge trade (GBP/JPY vs CHF/JPY) plus capital gains. For these long term trades, slippages don’t mean a thing. As good as they are, Oanda’s daily interests were no match to what I got from MAN Financial Singapore.
A month or so ago I began to experience platform irregularities at Oanda during news times. They widen their spreads in the fly. In one NFP trade I was slipped 25 pips whereas my identical trade at MAN Financial suffered only a 9-pip slippage. Then there was another occasion in which Oanda pulled me out of the market 6 pips from what their chart was showing. Of course I did not bother to protest. I just evacuated my funds, but left a few hundred dollars there just in case I may need to get back in. Withdrawing from Oanda is easy and hassel-free. I got my money within 36 hours, right in my bank account. (Has anybody tried to close his account at IgMarkets Singapore? Hahahahaha!!!)
anybody have any reviews for fxsol brokers? trustworthy ?