This information worths your time only takes 5 minutes and will short your way on trading

Hello guys, this is my second post in the forum, thanks for letting me contribute, now there’s one serious thing i’ve been noting since the first day i started with trading and that thing is that i’ve been noticing that is not good to trade with market maker brokers and the reason is because they can MANIPULATE the prices, trust me, the first day i traded i was using and guess what, i anotated my entrances, i only had 1 open position and then guess what… well at the other day i was stumbed upon they changed my entrances they modified the TAKE PROFIT, the STOP LOSS and the original entrance, the thing is that i lost the trade because they modified everything but FORTUNATELY i took a screenshot of it and told the technical support department they were doing fraud, by that point they told me they weren’t doing anything of that and to keep it short they told me that was the original position (WHICH I KNOW IS NOT TRUE BECAUSE LIKE I SAID I TOOK SCREENSHOT), after that i wanted to give another try to FOREX this time i tried with a broker whose name is ICMARKETS that is an ECN broker that means that your profits are not their losses and their losses are not your profits you are trading with someone real on the market, and i highly suggest you always do this cause otherwise what happened to me could happen to you if you use a market maker broker like XM, to describe everything above in short words my best opinion for novice traders is to always trade with an ECN broker because there’s always an interest lying up in the middle betwen market makers and you :slight_smile:

Yes IC markets is a safe house, albeit their forex spreads are higher than FP markets, and Pepperstone who are both safe brokers. Blueberry is as well, with great communication with you, albeit their platform needs a major updating.

Agree completely. You need a reliable broker to be anyway successful. Youve learned your lesson early which is great :slight_smile:

Is it safe to trade with IC Markets Global under FSA Seychelles regulation or Pepperstone Markets under SCB Bahamas regulation?

IMO, yes, because both of these long established brokers segregate client funds from their own. I’ve traded with ICM live for a few years, however their standard account spreads are not as good as Pepperstones (or FP markets or Blueberry)

From my research, full client protection are overseas brokers who are also (at least) regulated by FCA (UK) or USD or EUR regulators, provide guaranteed stop losses (GSL) AND would cut trades if your MARGIN was breached. However GSL only protects you from any excess over and above your capital.

You would need to Google it to be sure, as I’m not qualified to give financial advice - my disclaimer, ha ha.

Agree, they are quite useful and their spreads are good so at the end of the day, it depends on what platform that you like and to trade with