Hi KC ,I questioned him about SL orders ,he said you risk them both closing by hitting the SL but if SL had of been on I would have been in profit because the trades in profit were around £1400 each it is just the fact that the opposing loosing trades were nearly £3000 each
I’m sorry to hear that.
I hope you find a reputable broker.
KC
@ref1, i trade with ic markets, no issues whatsoever, i dunno if it s ok to mention brokers name as i m not trying to create publicity for them…anyhow, if i were u i d still trade real money, not demo, but i d be using microlots 0,001 untill i get the hang of it, have risk assesment in place and have a plan for when to open the trade, during, what if it goes against me, what to do if in profit, when to exit, how much am i willin to risk etc. do that so u d have a feel how it is and what u r gonna go through when u trade real money(not some1else), even if it s only micro. i started to make progress when i learned how to not lose money, to have patience for the high probability setups, to not chase price and stick to some rules and not get carried away, which is so difficult to do. if u can make a dollar and keep it, or let s say when u ll be able to do that(cos more then 90% give back what they ve earned) then ur set, repeat that over and over, and eventually u ll be able to increase the lot size(risk) etc… btw, u can also try tradingview for charting software…good luck and don t be to proud to ask for help, that s how u cut the learning curve, just make sure that who s givin u advice is legit, not just wanna be trader… cheers
lol sounds like a scam to me. My broker NEVER suggests what to trade or how to trade. Sounds like they are simply after you rmoney
Awww. 
So sorry to hear this. I hope you don’t go through something like this again. I think that there are really a lot of people trying to take advantage of newbies and the lure of forex trading, so we have to be extra careful about it. So sorry again.
Ok thanks for the advice , still not sure if it is a scam , received e mail today saying they have released what I had left in the account ,I been told it is illegal for them to advise on what to trade or use Any desk ,?
Thanks Ref
it is not illegal if u gave permission to trade on ur account,(account managing) as for advice, every broker is trying to give advice, u just have to ignore it. when u deposited u might have went for some managed account for a particular sum beeing deposited, so look into it, as they aren t s stupid to commit fraud for few cents, i imagine ur not theyr only client, so they have from where to milk. stay safe and do ur own due diligence before taking any action. cheers
Ahhh… And here we come to this wonderful thing called REGULATION.
No properly REGULATED broker is permitted to give you specific trading advice. And that is all there is to it. I get calls when there’s something major about to happen but (for example) it’s only to inform me of an upcoming event that may cause unusual volatility and stuff like that. They will NEVER call me and tell me to go long or short an instrument because of X, Y, or Z reason. Matter of fact: there have been times when I’ve tried to even get an OPINION from them and “sorry: no can do”.
so in my case , because they are regulated in Cyprus i would probably be wasting my time perusing it , i think it would be a grey area anyway, there is no way of proving what was said or done , no e-mails and if they return my remaining funds i would hard put to prove it was a scam ,thanks for the info
Well get your money FIRST would be my FIRST suggestion. And then TRY with CySEC. No reason to not TRY at least. If you do: keep us posted of what transpires. But get what’s left of your money FIRST IN YOUR BANK ACCOUNT!!!
I’m so sorry to hear about this. Take it as a lesson learned. 
It was the timing of both trades that made you lose your money. What was the strategy behind the hedging anyway? Because you can’t just go about opening two opposite sides randomly.
Hi Bob5star , that’s the point the broker did it ,he was supposed to be showing me how to trade ,I asked about stop loss orders he said this was a better way of minimising risk LOL . I realised soon as he did it that it could not work out ,the next day he panicked phoning me to say I needed to deposit more funds to save the trade ,I know this but it was beyond saving ,I told him where to go I would have lost much more .if it is not a scam then he as traded inappropriately .I thought this was the norm but after research and forums I realise that it is not .lesson learned ,I could have lost much more .
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Pro traders are always suggesting that a trader should work with credible and knowledgeable broker who can ensure safety. There are plenty of good brokers in the market who are even providing fund management and assistance for choosing strategies and conducting trading activities. Perhaps you may lose your money, but please take this as a lesson.
Absolutely. Choosing the right broker is half of your success career. Never trust smoke sellers anymore. Sad you lose your money.
What is the name if this broker? I trade with Forexchief broker and my account manager does not open trades for me, rather he only offers advice. What sort of a broker would open trades for clients in that way?
First of all i am quite surprise that a trader no matter a fresh gentle man having 6000 kbp eur usd in his ac triped. And empltied his ac balance. I suppose if your broker (any) allows you all kinds of strategy and even having 6000 in ac you got lost! This is the open example for all of us that we never take things sereusly. When you are lost the qustion is now being asked. Was not a better idea that you must ask and confirm all things before you in put your money on risk.
I am working as an ib having enough knowlege including expereince but still studing in MYBABYPIPS to reftesh my knowledge. I always try to morivate and prepare fresh traders as a winnor. I let them tell all about the excellent good normal and bad brokers technically. What we see the things are not same. You must know before you do what exactly you are going to do.
Keep care for future my dear
Forex cheif is paying fresh broker. But remember do not depend on any body else my dear. You must need expert suggested and tecommanded broker to trade. Experts have enough knowledge wether a boker is world class or third class do not depend upon brokers empty slogons only. I found most of the yraders do not know even how to deposit or withdraw money. How to log in mt4 what kind the brokers they are working with? So on…
And yes remember only trusted or paying brokers can not be considered as good. There so many other aspects to check and vote
Sounds like a scam, so whole that scheme with instructions where to sell and buy was provided by your broker, correct ? I simply trying to find some goals in that matter here. Thanks for pointing name and their location, next time do not go with offshore companies.