Through the grapevine I hear all brokers have some problem. The US brokers have that stupid set of FIFO regulations engaging today. In the real world that says if I have red wheat and white wheat, I must close my white wheat long before I close my red wheat long. That’s stupid because white wheat makes cake and red wheat makes bread. They have different seasonal peaks. The NFA is headed with brokers trying to find better ways to chisel you and crush competition.
Then you have the buketshops and market makers. Anything using MT will be a market maker. they make liquidity by chopping large lots into small chunks you and I can trade. They are legally required to countertrade you, with their “dealing desk”. Firms claiming no “dealing desk” simply have a robot program like the virtual dealer desk.
You can also trade on the ECN but they have their own quirks, and probably larger lot sizes AFAIK.
The broker is acting as the counterparty to your trade but that does not mean the broker is legally required to act as the counterparty to trade against you with their dealing desk . The broker will be the counterparty to your trade regardless of the type of execution you use, whether it be dealing desk, ECN, Straight-through-processing, no dealing desk, etc.
What is more important is how the broker manages the risk as counterparty. Is it held by the firms dealing desk, or offset immediately using no dealing desk, straight through processing or ecn.
yes that part is true. I to have an liteforex real account… I started out with $24.00 within 2 weeks i made $110 dollars, then it went down to $22.65. I which that i had found babypips 2 weeks ago, now i have to reboost my liteforex account., But hey its worth it
we know that the Russian federation has always had troubles with legalisation. When it comes to money-making, noone can ever find the one who is responsible for your prblems and losses…
Actually my experience was of crooked foreigners operating in Moscow. And here we have an operation from Nigeria: A country notorious for shadiness. If they open a London office, does that cast a dim light upon the British tradition?
rossiya, i think that does not really affect Bitain, you know, the country has its own legislation, so if a negirian broker stars operatin there, he’ll have to adhere to the local rules.
About the crooked foriegners in Moscow: if it’s not a governmental secret, who have they been? It seems strange that foriegners operate in Russia…
Well the foreigners who ripped me off are American, Australian, and Nigerian. Foreigners came to Moscow in early '90s when there was a deficiency of common business practices. As they are unconnected to Russia, they often scour the edge of the market looking for easy marks. Most I know were now serious players and now operate unlicensed through contacts them made twenty years ago.
It’s my observation that foreigners don’t abide by local rules is they can get away with it, but prefer operating within their own group. They’re not trying to assimilate into Russia, but instead establish an enclave: A mental fort. An as a group, the bad habits operate at a genetic level and are ignored only at great risk by the customer.
It’s all mainstream media garbage, funded by the banksters so they can push Russia into some backwater status. In Moscow foreign firms often do not compete well because they refuse to adapt to the local market. Foreigners complain about a great conspiracy, but they they are obliged to adapt, not the Russian people. Your condescending attitude implies you have some knowledge to bestow, but of course you in fact have little insight, but only an unfounded self-righteousness and ideology.
IKEA peddles shabby Chinese products and most Russians are capable of making their own furniture, or they prefer higher quality. My girl prefers Italian and she sold the gifts I bought from overseas, as she has a higher standard. I also bought a Russian car as the foreign cars are destroyed on Russian roads. And so it goes. If you don’t like Russian market then simply stay out. Complaining only proves you are noncompetitive and have a sense of entitlement for what is NOT rightfully yours.
As for being ripped off, London takes the prize. They have Nigerian banking staff that start draining your funds as soon as they’re wired.
Russians themselves are fine to work with. Of course, the government must operate on another level, where foreign powers would carve Russia up like a turkey given the chance.
I’m afraid you’re completely wrong, but enjoy your Russian car!
Foreign companies don’t compete well because they refuse to partake in the corruption culture you have. And so they prefer to leave and you’re worse off for it.
It’s you who have to adapt if you want foreign investments.
The condescending attitude wasn’t present in my post, that’s something you contributed now instead.
It’s that attitude of yours that keeps Russia in the backwater you speak of.
A hint: Russia is in right down at place 143 along with countries like Pakistan, Indonesia… Sweden is in fourth place.
So yeah, I’ll continue staying away from Russian businesses and I’ll have to live with driving German and Swedish cars. We must have better roads than you, cause they don’t break here.
OK well you’re obviously just a hater and probably a marginal trader to boot. Soros finds plenty of opportunity in Russia. But then again, he’s a billionaire and you’re not. I’m not going to derail this thread by indulging your bile.
Dear rossiya! It’s really nice to have such a passionate defender of Russia itself and russian markets and people. I must say, your knowledge is very impressive, bravo! =) Me myself totally agree with your statements: of course, it’s neither russian citizens’ nor russian entrepreneurs’ fault that the country lacks regulation, is very corrupted and has a high level of red tape - as your opponent stated, this was due to early 90’s government that couldn’t create a real market in former soviet land, 'cause they simply, first of all, didn’t know how it works and how to do it and, secondly, they realized they could take much profit from the process, so thwy did what they were good at - swindling common people.
Nevertheless, companies which still operate in russian market (even foriegn companis) try to make the situation better, as well as Russians themselves do too.
If talking about Forex trading in Russia, I must say this sphere lacks regulatory measures too, that is why many forex brokers operatin in Russia are offshore companies
Yes Russian people are pessimistic after communism. But several of my friends from Moscow had nothing more than a world-class education, yet now they are millionaires. Yet at the same time I see jealousy on the part of bankers and Western media who lack the boldness to take Russian economy on it’s own terms. Instead they whine and moan how Russia lacks cheap labor, how Russia resists foreign opportunists exploiting it’s natural resources, how Russia protects the labor market and it’s borders. There is a legitimate, concerted effort by the West to undermine Russian interests, and complain bitterly in the media when Russia rightly reacts. And foreigners who find themselves uncompetitive in the Russian marketplace add to the choir. The West is characterized by a very real fear of Russian empowerment. It’s almost comical! And the record clearly shows these very interests seeded Communism in Russia, in an effort to undermine it.
Yet many institutions, including Hollywood itself, were founded by Russians. The nation focus on survival can be irksome, but other supposedly advanced economies are being hampered by ethnic balkanization and mired in debt by international banking cartels. Russia has a chance in history to set the new standard with intellectual capital with little debt and real freedom. The West quips about freedom, but they export debt enslavement and loansharking to other nations. One need only look at Africa and India to see the cumulative damage accrued by these interests. While the West is reforming, it has wandered far down a dark alleyway. Russia is, by contrast, at the starting gate.
rossiya, you are right. recently the Russian Federation has got down to some institutional reforms, particularly in banking sector and the government even concidered the legislation of Forex trading, though the latter is still being in process
Dear Forexgamer, I really do believe that Russia might be legislating Forx Trading (well, at sooner or later it should happen) =)
I think nowadays some steps towards the trend have already been made
