Very concerned... All brokers untrustworthy?

Beginner Questions
1

So i’ve started learning Forex about two weeks ago now. I’m just starting to get my head around it all. Started running demo trades as you do… only to find out that making wrong trade decisions is not the only factor in emptying my account balance when I decide to do this for real!

What is all this about Forex brokers all being scammers? I see they make money from our losses and therefore stop hunt freeze platforms and cancel winning accounts???

The thing that really concerns me is that i’ve only done a few quick demo trades and even there my platform was freezing when i tried to close the trade at least 30% of the time. This means my price value has changed from when I actually chose to close the trade. Seriously what is this nonsense?

How can any one overcome the odds of losing money based on your own decisions, added with fraud Brokers who are also out to get you with there slight of hand which you can do nothing about.

I read about ECN however it seems you need more capital to sign up to these. Also I wanted to sign up to aSpread Betting company in order to not have to pay taxes here in the UK.

This Forex challenge really seems to be getting more and more unlikely. Sure give me a challenge in technical analysis, but dont let me make 100 pips to then have the broker screw me over…

IF there are any trustworthy brokers or spread betters please let me know because so far I cannot find a list saying “here are your trustworthy brokers”. So are there any? …

And just how concerned should I be?

Sad face :frowning:

2

not all are like this. there are many good brokers. have a look at 100forexbrokers site, there are 5 star reviews there

i have demo and live accounts with pepperstone and ic markets aussie local broker, both have solid reviews.

3

Stay with a reputable broker AND make sure YOU have a fast enough internet connection.

Sometimes its not so much the broker but your connection to them. I’ve been with my two brokers for two years and have yet to run into an issue with them. If it’s not your connection and it IS the broker freezing up in a demo, that’s a sign to stay away.

4

A broker is not going to mess with a demo price feed. Why would they do that? If you are seeing a an order execution lag on demo its a connection issue. You didnt say how long of a lag your seeing 5 seconds or 5 minutes. A few seconds is normal depending on the broker and platform.