I agree that per definition all retail brokers are scammers. But that’s per definition only.
We, people who have less than $10,000,000 (ten million dollars) are considered as retail traders. And we are only allowed to trade using retail brokers. We are not allowed to trade in institutional broker. If all retail brokers are scammers, then we are all doomed.
In fact, there are people who have been living comfortable by trading full time, and their account size is nowhere near 10 millions.
I also don’t think that ECN brokers are also doing this. ECN gains no profit / loss by playing with our account. (more…)