Finding a Success Through Forex Juctice

randi — Mon, 30 May 2011 23:24:18 +0000

As we know foreign exchange currency trading is a risky business with much to lose and much to gain. A professional forex broker and personal trader realized the fast profits this market can reap, while witnessing the dog-eat-dog nature of the beast, in which buyers lose their shirts every minute.

Whether you are a forex trader or just a person who is curious about forex currency trading, you owe it to yourself to separate the wheat from the chafe. The Internet is very awash in foreign exchange currency trading websites whose sole existences are dependent upon ignorant forex investors. Starting from get-rich-quick forex software schemes to free forex training, forex educational seminars, free forex signals, forex forums, and more, the fraudulence that surrounds the fx trading market is frightening.

Forex trading is very different from the U.S. stock market. The major differences include are Forex has no central exchange, Forex trading can be done around the clock, and Forex has no overseeing regulatory commission, such as the SEC

Moreover, the forex market is a wild, open arena without rules, laws, or a governing body. No one cares if your money is taken. There is no one will lose any sleep if you’ve been lied to. We also find that there are no repercussions if you’re treated unfairly. The investors will trade at their own risk and have no legal recourse to enforce justice.

The scammers have burned me more than once. In an attempt to further our own knowledge, we will feel for the magical software sales pitches and followed the crooked paths to the stolen treasures, only to be let down ad nauseam.

The best advice is do not trust anyone whose reputation you cannot validate and whose association is not legitimately tied to the actual forex market. This is so important when selecting your forex broker.

There is an allure of trading forex that can be overwhelming. It will attract many eager fx traders willing to gamble away their life’s earnings. The good news is that there are many forex professionals are honest and reliable, capable of assisting the most inexperienced fx trader succeed. We can follow forex signals and make profitable currency trades happening 24-hours a day, all around the world.

Many Forex review websites are veiled as informative, unbiased forex opinion forums. In actuality, they are doing little more than championing their own causes. These are what we say as neutral pages give the broker, forex trader, and interested parties a skewed view of reality.

Alternatively, Forex Justice is an innovative idea in forex trading. It is an open, two-way patented forex exchange system, reviews are considered from both the broker’s perspective and the trader’s. We can say that it is an unconventional method of publishing truthful forex stories to the investor and anyone else interested in forex has proven beneficial in reducing the number of forex scam websites and helped traders establish ethical business relationships.

This valuable tool, Forex Justice, does not allow peer bashing yet encourages honest communication. Its content is always reviewed but never edited so you get straight facts from real experiences. We can learn about the way forex trades are conducted and quickly size up the scam artists. There are more reviews we receive, the clearer the picture will become.

Is it true that all Metatrader and Retail Brokers are Scammer?

admin — Sun, 24 May 2009 16:26:56 +0000

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. What ECN wants is that you trade more lots. Of course there is a case that if you are counted as 1 of the people with the biggest profit, then the ECN will let the market marker play with your account. But, I think that is your fault also. Why? Because in a big and reputable ecn brokers, there are many successful trader, so your account is not sticking their eyes. If you are choosing a small ecn broker, that is your problem and your fault imho.

What I find true, is that all small traders have the highest risk in this industry. If you are investing, but not trading, in this market, you could survive. If you are trading, you have less chance to survive.

e.g. You are a scalper, you take profit for 10 pips and your stop loss is 7 pips. Because you are successful scalper then your broker is playing with you. They play with slippage between 3 – 5 pips. Your 10 pips take profit become 5 pips profit, and your stop loss become 12 pips stop loss. In some of the EAs here, the TP is 5 pips and SL is 35 pips. After the slippage, the TP would be 0 pip and the SL would be 40 pips. Imho, you’re lost and doomed.

e.g. You are a long term investor, your take profit is 400 pips and your stop loss is 100 pips. Because you are a successful investor, the broker is playing the slippage card, between 5 – 7 pips (of course if the slippage is too large and you still use that broker, then you should move. If not, that’s your fault). Your take profit become 393 pips and your stop loss become 107 pips. Imho, you still win.

That is why, I try to avoid any kind of scalping trading system or EA. I don’t even want to test them. I don’t even download them, it’s a waste of disk space. If it has a good indicator, I’ll download, but I’ll never use the system / EA. Imho, scalpers are at the lowest of the food chain and should really take good care of oneself.

In fact, there are many scalpers who would argue with me about this matter. So, to state that all retail brokers are scammers, is not appropriate IMHO.
After all if all retail brokers are scammers, where should we trade?

Forex Trading Money » scammers

Finding a Success Through Forex Juctice

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Is it true that all Metatrader and Retail Brokers are Scammer?

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