Forex Trading Money » ea http://virtualmakemoney.com Forex Trading Money Tutorial Wed, 21 Jul 2010 10:35:09 +0000 en hourly 1 http://wordpress.org/?v=3.0 Sharing Trading Experience at FXOpen using Forex EA http://virtualmakemoney.com/sharing-trading-experience-at-fxopen-using-forex-ea.html http://virtualmakemoney.com/sharing-trading-experience-at-fxopen-using-forex-ea.html#comments Fri, 29 May 2009 04:36:56 +0000 admin http://virtualmakemoney.com/?p=66 Someone wrote me about his forex trading experience at FXOpen, let’s read!

I have to tell my experience about my trading with FXopen.

Last month I opened 2 live accounts to trade EURGBP with two forex EA’s
1)YourLucky
2)Thunder

In the first days, It was good but suddenly I began to lose.. to keep a track I did start to compare the quotations with others brokers like Tadawulfx, GTLonline and GoMarkets. All these three stay on a margin of +2 or -2 pips, which is good, but when I compared with Fxopen, the difference became until 20 pips!! Always on the assian session! and always against you!!
Can you believe it???!!!
So I start to realize that they weren’t honest forex brokers…

BUT THIS IS NOT THE WORST!!!
I joined an IB which rebate me 80usd per 10 lots. I informed FXopen about my subscription to their IB with the referral link and I did just like they ask me to join, but at the end of the month I didn’t receive nothing ..??!!
Then I contacted FXopen and this is what they told me:

From: FXOpen [mailto:finance@fxopen.com]
Sent: Miércoles, 08 de Abril de 2009 01:25 a.m.
To:
Subject: Re: Acc. 168355 and 168353 not under IB ID.97465

Dear finance department,

In the last month I opened two accounts (168355 and 168353) under http:// xxxx.com/ IB. ID 97465. I got surprise when asking for the rebate, the IB in mention told me that those accounts are not registered under them? I have made almost 20 lots on those accounts and I need you to clarify this situation and make the proper payment to them so they can refund me.

Many thanks,

—————————————————————————-
Hello,

according to our database accounts 168355 and 168353 have been opened directly from our website without using any referral’s link.

————————————————————————
From:
Sent: Miércoles, 08 de Abril de 2009 08:50 a.m.
To: ‘FXOpen’
Cc:
Subject: RE: Acc. 168355 and 168353 not under IB ID.97465

Dear Sirs,

I am done with your lack of professionalism. I will make sure that this story be in all the possible forex forums available.
You have lost one customer and you will gain bad feedback in all the forex forums.
Thiefs !

THEY STEAL MY REBATE!!!

I DON’T WANT THIS SAME THING HAPPEN TO YOU!!! IF YOU WANT A TRUE AND HONEST BROKER DONT GO WITH THEM, THEY WILL DO THE SAME THING TO YOU!!

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]]> http://virtualmakemoney.com/sharing-trading-experience-at-fxopen-using-forex-ea.html/feed 1 How to choose Forex EA Robot and Broker? http://virtualmakemoney.com/how-to-choose-forex-ea-robot-and-broker.html http://virtualmakemoney.com/how-to-choose-forex-ea-robot-and-broker.html#comments Sun, 17 May 2009 22:01:41 +0000 admin http://virtualmakemoney.com/?p=60 I’m not going to tell you my broker or give any specific recommendations for one, but i hope the following will help you

You will probably want a broker which is offering MT4 platform (not all do)

- check the minimum account size is okay for you

- make sure they offer demo so you can check your trading / EA on demo first

- demo should be as close as possible to live, at least the spreads should be identical
(I can tell you the executions on demo are always nice while on live they play all the games with you)

- check the spreads on the pairs you wish to trade (or your EA will trade) and make sure they stay in the range you require to be profitable during the time of day you trade
(often a certain range gets advertised but you’ll find that 90% of the time only the upper end of the spread range is actually being offered)

- be clear about the lotsize they are offering

- make sure you understand what a lot is

- do yourself a favor and make a sample calculation … take your lot size and stop strategy you will use and find out how it will affect your risk in relation to your account size

- understand how funding and withdrawal work (funding can often be easy… but when you try to withdraw thats when they like playing games)

- complicated withdrawal process can mean trouble as you may need to be forced to stop any EA on your account until process is complete

- if they say they are regulated consider that a joke
Write them an email if in doubt so you have something you can refer to later if there is any confusion. I have found that with some brokers if you ask the people on their chat then 3 different people will give you five different answers.

Just a quick writeup, if anything is unclear then ask!

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