Hi,
this is my first thread in babypips. I wanted it to be a broker review, as it helped me to make my decision and finally choose a broker to start trading.
I just opened an account with markets.com. I am looking forward to hearing some opinions about my strategy as I started trading in a real account right this week.
So far I had success in 5 out of 5 trades and I am making an accumulated 3%. My goal is 5% each week. I am using simple ABCD strategies in EURUSD, setting interior and exterior trend lines, and trading with the trend. I use mostly a M15 supported by H1 and H4. I can make then 2-3 trades per day. I expect to be able to analyze 2-3 currencies a day and make 9-10 trades in the future.
Quotes change every second or more often, although I experienced some pauses and I freaked out, is this normal? Quotes are consistent when compared with quotes from Reuters and MT5. Are MT5 quotes reliable? For the time being I have no time to read the market, compare quotes, set lines and plan entry and exit points at the same time. I find this stressing as the numbers change quickly.
I am trading 0,01 lots. And planning to jump to 0,02 as soon as I get the promised bonuses, $50 from markets and $25 from cashbull FX. If I keep making profits I eventually will switch to a $500 account with Varengold, this is the smallest STP account I found.
Hope my contribution is appreciated!
Best,
I wish you the best to keep your results up…
Sorry to bump an old post, but I was wondering if you’re still around and how markets.com has been treating you. I am looking at doing some business with them and would love some real person feedback (not a sales pitch).
I would like to share my most unpleasant experience with Markets.com with other members. On the 18th of March 2013, the day that Cyprus had major banking problems, Markets.com was having serious problems with their their computers and trading platforms. I opened 3 positions in the morning. After sometime, when I came to check, I noticed that two of the positions had vanished. I immediately went on a live chat and explained my problem and was told that everything would soon to be taken care of. That day I had five live chats and three phone calls with them. For ten days till the 28th of March, trades that were closed would suddenly reappear on my trading platform with huge losses. Markets.com could not fix the computer glitch. My life came to a standstill.I stopped going out, cancelling appointments, waking up every hour to check and make sure that closed trades with huge losses would suddenly not appear and wipe out my principle.I was afraid that markets.com would refuse to take responsibilty and reimburse me.Finally, based on the suggestions given by them, I opened a new account.But the aggravation did not stop there. Markets.com refused to reimburse me part of my losses.For a month and a half they gave me the run around treating me like an imbecile with no respect or courtesy.I have traded with many companies in the past but never ever
been treated so badly.
I was given a $100 bonus as compensation and promised that it would be with no strings attached. Meaning that even if I withdrew money, they would not take the $100 out of my account. But as soon as I withdrew some money, they took the money out. Finally after I told them that I was going to lodge a complaint with the FSA and CYSEC, they sent me a waiver and said that if I signed it, they would reimburse the money. I refused. I saw no reason why I should sign a waiver to get back money that is rightfully mine. Then when I mailed them that I was going to go ahead and post messages on the websites and have FSA look in to this,they suddenly put the money back in my account.They are dishonest and unethical and I claim that Markets.com tried to scam me of my money since they felt that they could do so and get away with it.
Due to the problems with the computer, I could not close some of the trades and they are at a loss . As soon as things turn around, I will close these positions and close my account with Markets.com. But I do not trade with them anymore.
I am in the process of complaining about them to all the authorities they are regulated with and also seek financial compensation from FOS.I am doing this more as a matter of principle than money.These people need to be held accountable for harrassing me so much and putting me through such aggravation. No brokerage has a right to scam its clients of their hard earned money and the least they could have done is to have the courtesy to look into my repeated requests to investigate the matter further and return money that is rightfully mine.
Sure would be thankful if those of you with more experience and knowledge could give me guidance and feedback.
Thank you all for your time.
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