You’re right, I haven’t tried to find honest unregulated brokers, so I can’t say they’re all dishonest. I just have to question why so many people who are asking for money manage to re-locate their businesses to small hot places where there is little financial regulation. Maybe its just coincidence.
Either way, from your research, what are the key ways to see if a broker over there is honest or if he is not?
t-
regulation is a double-edged sword: it costs a LOT for these little brokerages to become USA regulated and THEN they can only offer 50:1 max leverage which is tiny compared to the rest of the world
You’re being scammed hard. you need to wait for them to spike up which is not on the other broker then sell into it. Price will fall back where it should be.
rickster, problem is that when the spike occurs, the spread is gigantic…probably not worth it because the fill will be awful, but thanks for the thought
Oh if the spread is huge then your just getting ripped off lol. Leave them. Look for one that ddnt spike prices.
yep, gotta go off shore then to get better spreads if you live in the USA
What were those two addresses you used the other day on another thread??? Laughed my head off.
Don’t tempt me Dale, I always try to be polite.
I trade with Oanda and so far haven’t had any issue with this. I trade higher time frames though so my stops are wide. If price is close to my stop at around 5PM I will widen my stop and keep an eye on the actual price of pair.
IG is available in US now… I don’t trade with them but I am told they have tighter spreads. Something you could look into if you haven’t already. 
tsm: thanks, will look at IG but pretty sure all the US forex brokers are cr@p…for some reasonn all the ECNs were driven out a few years ago
Not only was it a bank holiday weekend, we also had the EU parliament elections.
No wonder spreads widened.
I’ve used Oanda for years, never had an issue
All brokers will hit your stops. Forex is rigged
They don’t hit mine as I only trade long-term, my stops are way too far off for that game.
But as for scalping, let’s say trades in under 5 minutes average, well anyone who isn’t already a successful trader in some trading field shouldn’t even think of it. If you walk into the lion’s den, expect to get eaten alive.
I doubt Oanda hunted your stop loss. It’s very possible though that someone out there is hunting your stop loss. Namely, the large institutions, institutional traders. Most traders put their stop losses at predictable locations. The market is trending up. It pulls back, and creates a support. You put in a buy order. You place your stop loss directly under the support. You are not the only one with your stop loss under the support. There are a massive amount of stop loss orders there. Since you did a buy order, your stop loss order is a sell order. So, it is pretty obvious that there are a lot of sell orders at that level. A bank wants to do a massive buy order. They need sellers in order to complete their massive buy order. Somehow, the price sails down into that area and takes out all the sell stop orders. You have just become a seller to the bank. Now, the market sails back up. You take the loss. The bank makes money. The cool thing is that maybe, you have caught a glimpse of what the institutional traders are doing. They seek to trade at the lowest prices in an up trend. They seek to reduce risk and increase reward. The sometimes lose as well. But, they seek to have very tight risk and very large reward in their trading. They seek the lowest prices. If they got in in the above scenario right at the bottom of that support level, do you think that is an effective entry price in that move?
The problem is not that Forex is rigged. There are a lot of traders who make money with Forex. The problem is that the institutional traders have also taken your education classes. They understand how you trade. However, they don’t believe in your education classes. The more they understand how you trade, the more they can use it against you, and to benefit them. They are trading much differently than you are. They are doing monstrous orders. So, they must take different approaches to trading than small retail traders. They seek to do balance transfers of your small accounts into their accounts. They are what you might call, predatory. They think you are remarkably stupid. It’s not one individual account, but if you add up all the small traders who lose all their money in Forex, about 90 percent of all those that trade, that a lot of money to be transferred from small time losing traders into the bank’s accounts. Somehow, if you want to trade successfully, you have to learn to trader with them, and more like them, rather than trading like any other retail trader. Now, as for your broker… Yes, the system is corrupt. But, I don’t think they hunt stop losses. They run a business where, they have the traders separated into different pools. 90 percent lose money. They auto trade against those traders. So, they have a 90 percent probabiliity of winning. Winning traders go into the other pool. They auto trade against those traders. But, they hedge their position. This way, they most likely can still make money from spreads or commissions. All of the stuff they do is automated. They are like a casino. They play the odds. They most likely don’t care about your stop loss.
Just please, for your own financial safety, trade like this. Trade on demo or paper until you consistently make money month to month for many months. Switch to real trading. Trade with a small level of risk per trade, such as 0.25 percent of your account size risk per trade. If you make money over a month or two, switch up to 0.50. Finally, get to 1 percent. Keep it at 1 percent risk per trade. Don’t go higher than that. These brokers give you the capability to trade with massive risk levels. They know that everyone loses trades. So, if you trade like that, you will absolutely transfer all of your money to the bank. Traders who trade systems and make money over time do not trade that way. They trade with a small amount of risk per trade. They see how their wins and losses add up over time, seeing what type of win percentage and risk to reward ratio they attain over time. Risk to reward ratio is peak on their list of priorities. Trading with 1 percent risk, it is possible, if you attain just a 50 percent win percentage, and a 1 to 2 risk reward ratio, (in other words, you winds are twice as big as your losses), you can make solid money trading over time. You won’t get rich quick. That a pipe dream created by the banks in order to try to get you to give them your money.
Sarcasm reply or anything else? I think, only market maker brokers do so.
If your broker moves prices away from the underlying market, trade against them.
If your broker widens spreads to ridiculous amounts, change brokers.
If the entire market moves against you to hit your stops, then your broker will just have to follow the market. So learn a whole lot more about TA and stop placement.
Or just trade longer time-frames.
This is not a global conspiracy by the illuminati to rob you of your cr@ppy 50 quid per trade.
I hope not, good broker I thought
Yes… Oanda does that. I had a trade (EURCAD short) that hit a stop loss today (06.14.2019) at 12:30PM GMT, at 1.5029. Checking the chart, highest point of that candle is 1.5023. Also looking a little back on the chart, 1.5025 was touched without triggering the stop loss. The trade then proceeded in my direction for almost 40 pips. So yeah… Oanda does that, and it’s frustrating.