Hi everyone. What is the truth about brokers? Do they play against the clients or not? If yes, then we don’t have any chance to win. All brokers claim that are Non Dealing Desk (but we are not sure about this) and that they want us to be in the game so they can take their commission each time we trade (the spread). I know someone from my country who training the dealers, and he told me that all brokers play against the client. Iam confused. Is it better for dealer to take each time we trade one very small amount from spread or take in just few days or few hours all the money from my account. I think the second is the best for them. Thanks.
I don’t think so some of brokers can be cheater but not all brokers do like that. So better is that you must know the ins and outs trading too, must know the market trends so brokers can’t cheat you.
If you were a Broker/Dealer in Forex and you had clients who where beating the market better than you were, would you trade against them, or trade with them? Fixing benchmarks and then front running trades is highly risky in Forex. Some firms are doing it. If you know what you are doing, the manipulators will push the market your way, for you. Just like if you were to find a trader who always made money, and you knew what the trades were, you would go with the flow. But you need to be concerned with your stops, and their slippage rules. They could hit your stops and call it slippage, but if you can prove them wrong, you will rake in on the suit. I read where a doctor got all the trades and punitive damages against a Broker who did that, he made $30 Mil. You need to know how to build your case though, so you would prevail. Bottom line…, know what you are doing. Know where the market is going before you enter it.
I think some broker may be cheaters but not all. Forex brokers are friends of us and they help to make good money in Forex . But we should choose a reliable and regulated broker.
There are very few good ones, but forex is poorly regulated even it gets better and better,
I would bet my right arm that 80 percent of all the online brokers trade against you or use some kind of tricks,
some brokers claim they are a ECNs but they are in fact plain out lying.
it is not easy to find a good one, and when you do find a good one, not even that one is perfect. slippage etc.
but generally what you need is a ECN broker, they will not trade against you, research the broker, find out if he is regulated in Europe or US, regulation in far east countrys don’t count. find out if it is a real ECN, how do you do that? first of all, the broker should have level 2, you should be able to trade in between the spread and you should see your order in the orderbook, if you can’t see it, it is not a ECN, simple as that.
be extra suspicious with brokers MMs with names like easypeacyfx easycashfx fastbuckfx etc
don’t trust a broker having both dealingdesk and claimed ECN accounts, he should be purely ECN or he is not trustworthy.
knowledge is power so long as you keep learning and getting up to date and relevant information, you will be able to do the best you possibly can
I agree that knowledge is power…and one other important thing- don’t get discouraged right away… I mean it’s true that there are some “evil” brokers out there, but you have bad people in every business, and that doesn’t mean they all fall in the same basket… If you think most of them are deceitful, you might be right, and exactly for that reason try searching for a broker that suits your needs… I am new as well, and I’ve opened a bunch of demo accounts, and spent hours researching the brokers that I’m interested in… because apart from being skillful in trading, it’s important to have the broker on your side, instead of trying to beat him…
Well, good luck 
In every system there is some up’s and down’s. we must know the pros and cons of trading before investing.
Friends! Read the wiki about MT4. I found an information there that every broker that propose you to use MT platform can “to play with a price”. But I think the main word in this sentence is “CAN”. I used the services of many MT4 brokers and I don’t want to change my favorite platform to something else.