Hey dude, nope no contradictions, just a bit of fleshing out for the tin foil hat crowd.
The Ever Aluminum Foil VIPER
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to your edit:
that is not true. you can trade just the same and same leverage, instruments and securities without using any bookie and without much more money at hand. and the execution etc isnt any slower. even banks as your broker offer you the exact same (as advantage percieved) conditions like any bookie does- besides 24/5 trading (they offer only 14/5 trading)
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it just takes a bit more of knowledge of instruments available like, warrants- for example.
the only advantage of the bookies is that they support and finance websites like this one here which advertises the ease and the easy usage of the bookies to the people who are just starting out.
the comunities formed on such websites and the connected forum then do the advertisements for the bookies by themselves. -just remember how many posts there are asking “which broker should i use?” and the to it belonging always same answares of members who are trading with a bookie and arguing with others how good their bookie is.
but the truth is that no pro or semi-pro trader trades with any broker advertised on this webpage. the truth is that by the broker choise someone can tell how experienced of a trader someone else is.
the truth as well is that bucket broker are not needed, not even by the people who only have/want to invest $500/$1000 into the trading idea. they just found a good method to make momey on inexperience and are using their advertisement machine in very effective ways. add to it a fairly easy to use trading platform/program and a very easy way to open and close trades (idiot proved) and the newbie retail traders hook on them without even knowing that there are long lasting proved and fairly strongly regulated alternatives that do not act as your counterpart in trades.
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To be honest with you, Having been forced by my Government, to bale out most of the major banks using my own money, after their diabolical activities pre-2008, and having been charged for “credit” at 18-22% in gratitude whilst being “Offered” interest on Savings of £200k plus of nothing better than 1/4 % by those same banks, I’d rather trade with a “genuine bookie” who unlike “Insurance companies” and their associated “Banks” refuse to take bets on Life or death events !
There is no sign that the “Banks” have changed their ways since either - here is UK there is a major enquiry about to be undertaken into the activities of one, possibly two in forcing business clients to become “Clients” of their "Rip off subsidiaries who eventually forced them into unneccessary liquidation. These in large numbers for huge amounts!
They have been shownn to be “Fixing” LIBOR Rates to their own advantage at the expense of retail customers. The nefarious activities of these institutions just goes on and on - They are solely responsible for selling unworkable and unfit PPI insurance worth billions to anyone who wanted a loan and is now being recleimed by millions of customers - again at MY expense - because I was too bright to “Fall for the scam!” But now they increase my charges to cover their own costs in repayments to the victims !
And you want me to trust these evil peopleand pay extra profits to THEM - rather than a proper bookie ?
I’d prefer one who actually does “hedge” imbalances in the rounding of his book in the real market though.
So which banks offer “Demo accounts” and why would they want to close their trading platforms for 10 hours every day ?
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Another take on “Banks” and their activities ;
Unless you don’t trade the money is safe, haha. It works like a margin for your position and the higher leverage the more are chances you will lose fast. So keep leverage low like 1:100 or 1:50
No fan of Anton Kreil… but this demonstrates the reality of Retail Forex…
How the Broker really makes money between buyer and seller…
Yeah…right… Thanks to M.K.A. for finding this video.
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Thats 2 points … 20 little points = 1pip
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the last 2 decimal numbers we are all looking at on any pair 10 of them is 1 pip NO…???
NO ! - the Pips are the 4th decimal place. If there is no 5th decimal place, there are NO points !
That is 2 PIPS.
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You were talking about the 4th number after the decimal, that is a pip (except in Jap pairs)
Just Google it or look on the Babypips school and you’ll see
It’s a nice topic really. But my question is different something, how the broker made money when they offer 0 pip spreads? I know spreads is a brokers cost and they earn from this financial tool. Can anyone please clear this with great detail ?
There is no 0 pips spreads broker. It’s all about scams. I never found that.
Hi, W. Take 100k, open an account with RJ’Obrien, you will see 0 pips all day long, but since it has a natural float, you might see .2, but definitely, you will see 0. Of course you will pay a fee per trade, but the Market Maker has to make a buck. Also you will be connected to 1-3 PB, depending on your volume, if you do a 1/4 of a yard per month, deeeeeep discounts in fees, and a global feed for data.
The Ever Elucidating VIPER
Nothing beats a bit of reality to shutdown an off topic thread…
This was the post m8 @eddieb
is there 5 Decimal places…? no even if there was is does not
change the fact i was right. THE LAST 2 Digits make the pip sooooooooo…
111.203 = 0,3 pips or 3 LITTLE Points
1.1010 = 1 pip or 10 LITTLE Points
0.87615 = 1.5 pips or 15 LITTLE points
Please Please please @Falstaff , @eddieb tell me i’m wrong …?
is this how you got your Title…? Hmmmm…
.
No problem, this is from the Elementary School section of Babypips School
No need for this nonsense, people are only trying to help you!
Nice 2 see; you are on the right track! Just keep it up! May be it’ll (your learning process) take such a long time; but don’t lose your learning interest! All the best.
It’s okay. Thanks for your information. I will inform you after opening the account how it works.
Both of you have the same difficulty, here: you’re confusing “brokers” with “counterparty market-makers”.
You’re both thinking of counterparty market-makers but using the word “broker” to describe them.
They’re not brokers. They’re pretending to be brokers. And this is the point that explains the issue.
Genuine brokers make their money as a commission, not from the spread. They charge a small fixed fee to place a trade into the market for you.
If you use a real broker, a spread of 0.0 to 0.1 pips is common. It’s normal.
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I Stand Corrected seems some brokers quote 5 and 4 decimal may have confused
myself… somehow…as well
My broker has 3 4 5 decimal places guess this may be some advantage…? or not …?
sorry…
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This is answer I needed. Thank you for nice reply. But practically it is quite difficult to make sure a real Forex Broker.