Hi everyone. I’m brand new to FX. I’ve learned a lot in the past month, and I’ve actually made a few dollars in my practice account. I spend most of my free time trying to figure out how this all works, and I feel that I’m making progress. Well, last night I was surfing the web looking for more info to feed my appetite for knowledge when I came across two sites that listed complaints against Forex brokers. Right now I’m using CMS’s VT Trader. I read countless reviews from traders who claim that once they opened live accounts, they saw bizzarre things happening with their charts, as well as slippage that wasn’t present with the demo accounts, impossible customer service, difficulty opening and closing accounts before stops were hit, random server disconnects, and many other nightmares. I went on to look at FXCM, GFT, GTS, ForexYard, blah, blah, blah, and saw much of the same. Is this true? Do these brokers really do this on purpose? Some of these people state that they had two computers set up side-by-side and saw their charts dive-bomb immediately after opening a long position on one computer, while the charts behaved completely the opposite on the other computer. They refer to most of these brokers as “bucket brokers” (?) Is this something that is common? As I mentioned, I’m brand new to this, and I don’t want to think that I’m going to spend all this time and money, just to be scammed when I finally get the nerve to trade live. I don’t plan to scalp or trade news. I’m mostly looking at day trading or swing positions. Can you folks point me in the direction of a reputable broker? Or maybe somebody knows if these review sites are loaded with disgruntled traders, or perhaps even competitors making false reviews. I don’t want to get scared away from this, but I’m a little concerned after reading this stuff. Any insight would really be appreciated. Thanks.
ed