Agree ! the old forum one was any day better
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are you still with finpro trading?
Can you define âtoxic flowâ?
Thx!
Reading all this drama about Finpro has me rattled. I contacted customer service and showed them the Forex Peace Army link and advised that they have a representative touch base with the community. Trading Forex is a serious business for me and hearing a story about a guy building his account up only to find out after years that his profits are trapped is beyond nightmarish. I have spent thousands upon thousands of hours over 2.5 years trading full-time - and when I say full-time, I mean FULL TIME - until I was able to develop a successful trading mentality and a system that fits my personality. I am profitable now and I am expecting to make a lot of money for a lot of years. I am considering moving to a U.S. broker. I never trade more than 1% of my account at a time with maybe 4-5 trades on at once. I am a swing trader so ultra-low spreads are not a requirement. Any advice?
Iâm even considering contacting some prop trading firms to see what kind of brokerage conditions I would have with them. Iâm certain they would be interested in someone with my background but have been hesitant to âshareâ if you know what I meanâŚ
LAF
A prop firm is only going to care about your proven track record and youâre ability to make $$$ with them. Being cagey with them will only send you out the door.
That âScammed by Turnkey Forex!â thread strikes me odd on several counts.
For one the guy acts under the assumption that he holds all the cards with an unregulated broker. He does not. He simply is allowed to trade with them outside current US restrictions. Being unregulated also means the broker can make up their own rules. Acting entitled isnât going to help his case either.
I also know some brokers donât like people portraying as retail when they are running complex algos as a business. Thatâs why some brokers ask that question upon sign up. Thereâs also plenty of brokerages that will shut down pattern traders, etc if they sense something is afoul. Even in a regulated brokerage.
The golden rule dealing with these offshore outfits is to never have all your eggâs in one basket, and only hold enough on any brokerage that youâre willing to part with.
If i had 250k+ account to trade with, then I would most likely go straight to to a futures brokerage in the states.
EXACTLY
And I fail you understand they (the active participants of the conversation) fail to understand this. Its all about broker shaming off late .
And I wonder why we need to bring the conversations from another forum and discuss them here, when there is already a conversation going on FPA and these guys themselves are participants to it?
Do they want to see or buy into something & even if they do, why are they hell bent on proving that their allegations ? Have been reading the same things being tossed again and again.
Amused ! But Iâll be watching this circus 
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most traders like higher leverage thatâs why we went offshore, sound like you donât need the higher leverage
Does Finpro finally admit that they are owned by the exact same person as Turnkey?
To be honest, the ONLY reason Iâm offshore is due to requiring access to multiple brokers so I can split my overall ticket size across all of them simultaneously. If the CME had crosses with liquidity I would be trading on exchange.
Gain is a bucket shop with subpar spreads and worse than 50:1 leverage on most pairs. Oanda manipulates their spreads around reports.
I do have Oanda raw core pricing which charges $10 commission and requires >10K deposit. That is probably your best bet in the states.
yes, Iâm still there. I use an EA to copy my trades to them as well as 4 other brokers. My last withdrawal was late Oct via bitcoin.
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Toxic flow is any type of trading that risks the market maker broker/LP (ultimate market maker on the other side of all your trades) being able to consistently hedge your trades for a profit via internal client matching or utilizing multi bank ecns.
- Scalping in fast markets
- Arbitrage (taking advantage of latency in their feed vs another broker/venue
- News trading in fast markets
- On the institutional side of things⌠Sweeping an aggregated order book containing multiple executing banks forcing all of them to attempt to hedge your total order in the open market simultaneously.
&
@maypip @nick21521 @albanianking @grandpipmaster @limitlesschr1s @hphpwnwn @smurgman111 @lickit @hphpwnwn @pinman314
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lol, you are so correct
Can you elaborate on what this entails, as most of the brokers seem to allow scalping, so I am curious about any differences.
Thanks.
If common sense governs logics, then its very clear to see how these post users came flocking social media right at the same time that hugosway was launched. Literally as per whois records (Whois hugosway.com) Hugsway domain was bought on 23rd Feb and it was bought using Domains by Proxy (https://www.domainsbyproxy.com/) that lets people create domains without giving out any information about themselves.
Well that gets scary now. Why will hugosway want to get domains from âhide you identityâ types of internet provider. Does it plan to run away with peopleâs money ???
Now lets make it even more interesting.
JAFX is also hosted with domainsbyproxy guys 
seriously, isnât that funny. Here is the link to their whois record Whois jafx.com
NOW doesnât they all point to the same direction.
A broker opened in 2007 at a hosting company has all the technology, hosting and backend exactly the same as another broker opened in Mid 2018. Now this is not Forex bridge or LP connectivities that there are only a small number of providers to it. This is basic âWebsiteâ hosting provider for which we have hundredâs of providers and they still (after 10 years) choose to use the same hosting provider. That cannot be just a co-incidence
all offshore brokers hide there identity including the ones i use, you can check your broker here
This is similar to the way that I view things. As US residents, our options are severely limited. As a result, we have to work with what we have available to us.
When you look at the type of complaints that some people post about various brokers, the timing and circumstances that were happening when the issues occurred, and you see both sides of the story, it quickly becomes evident that a lot of the issues could have been avoided in the first place, or at the very least, are isolated cases. Some of the issues that people are posting about are not even the brokersâ fault. But when a newbie reads a thread and sees the word SCAM, they are quickly turned away by it, regardless of what kind of details were actually provided or what circumstances lead to the issue(s) in the first place. This does not even touch on issues relating to heavy-handed, cross-border regulatory attempts or arbitrary, red-tape banking procedures et alâŚ
When you consider the probable amount of happy traders that continue to quietly use many of these brokers on a daily basis vs. the small number and severity of most of the complaints that get published, it becomes easier to sift through the nonsense. Not to say that this is applicable to all brokers, but even the best service providers in the world will have naysayers crying foul â regardless of what kind of business they are in.
The way that I look at it is thisâŚif you are going to use an unregulated broker, then you need to take the necessary steps to mitigate your risks accordingly. That means that you do not trade with more money than you are comfortable with losing at the drop of a hat. That means that you pull out profits, regularly, in the event that a broker decides to bail without notice. You do NOT put all of your eggs in one basket. As soon as you double your account balance (or, as soon as you are able), you pull your profits out so that you are playing with house money. You should trade everyday with the idea that the broker might disappear or get shut down tomorrow. If you do these things, then it does not matter if this or that broker is a scammer in the end â get in, secure your profits as often and for as long as you can, then move on to the next one.
People need to be smart and use some common sense. They need to read and educate themselves.
That being said, risk is subjective. My level of risk-tolerance may differ from the next guy, and that is okay. Trading is not for everyone. Trading with an unregulated broker is definitely not for everyone. I also do not rely on trading to pay my rent/mortgage, so it may be easier for me to think the way that I do.
Anything that I allocate for trading is play money; it does not matter if I lose it. I certainly would never load up an account with 6-figures, borrow money, use living expenses and/or my life savings etc. to trade with an unregulated broker. That just seems reckless and unnecessary to me.
Comments regarding broker anonymity are moot, in my opinion. Why? Because, again, it does not matter if a broker turns out to be a scammer in the end, so long as I am being smart about things. Not only that, but many of these brokers that are choosing to skirt regulation, albeit for more profits, are actually a gift for us US-based traders. Without them, we would really be screwed. It is understandable that they are going to have to do some shady things and hide their identity in order to service clients that reside inside heavily-regulated jurisdictions. If a broker is paying people for good reviews to get more exposure, I really do not careâŚso long as I can be profitable with my trading through them. If I cannot, or something doesnât seem right, fineâŚI move on to the next broker. I understand the reality that we face with these unregulated brokers.
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Exactly this. I also noticed that the individual in question was refunded his initial deposit, minus profits. Thatâs actually not that uncommon when and if a broker decides youâre no longer welcome on their brokerage. Regulated or not.
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<1 pip algo scalping in fast markets. This is mainly an issue with MM brokers with A/B books trading against clients but it can be problematic for STP brokers LPs if they are constantly taking losses hedging your trades.
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