How easy is it for a broker to stop hunt

This is a discussion on How easy is it for a broker to stop hunt within the General Trading Chat forums, part of the Reception category; some very good points made by the Hare there. I support his thoughts on the bucket shops. We may occasionally ...

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Old Dec 18, 2011, 7:14pm   #71
 
Lord Flasheart's Avatar
Joined Jan 2004
Re: How easy is it for a broker to stop hunt

some very good points made by the Hare there. I support his thoughts on the bucket shops. We may occasionally be subject to the odd shafting and stop taking,but probably not as often as you think. They nearly always have better spreads on the majors than the major companies, and often give good benefits and cash back etc.
The main problem with them is their spreads on any pair other than the majors is where you will lose out. Thats why I generally have two accounts up for trading.
Take a look at intertrader and fxcm and compare spreads and what they offer, you will see what I mean. I am not recommending fxcm, far from it,but if you join up with intertrader then Im happy to receive an introducers fee. I would also say which other broker I now use but have not been with them long enough to be sure about them. This thread is taking a slight diversion but a good one and good points being brought up.As a thought why not have a thread of brokers we recommend, I'm sure a panel of us could debate and come up with a decent broker ideal for each trader and advise newbies etc.
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Old Dec 18, 2011, 9:01pm   #72
 
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Re: How easy is it for a broker to stop hunt

There are some decent SB brokers out there though, they're not all stop grabbing crooks.
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Old Dec 19, 2011, 8:25am   #73
 
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Re: How easy is it for a broker to stop hunt

This is OLD OLD news. You telling me you guys really didn't know about VD?

I put in a post a very long time ago that I only use MT4 for charting and NEVER for trading and remember getting some quite negative replies...
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Old Dec 19, 2011, 9:00am   #74
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Re: How easy is it for a broker to stop hunt

Quote:
Originally Posted by nunrgguy View Post
This is OLD OLD news. You telling me you guys really didn't know about VD?

I put in a post a very long time ago that I only use MT4 for charting and NEVER for trading and remember getting some quite negative replies...
Yes, many of us have already known this, but the videos (now removed) showed the VD plug-in and the Metatrader Manager in action, and the user was demonstrating exactly how it worked. Very interesting.

Peter
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Old Dec 22, 2011, 7:54am   #75
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Re: How easy is it for a broker to stop hunt

I have re-uploaded the videos:

Vimeo
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Veoh
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Old Dec 22, 2011, 7:58am   #76
Joined Mar 2011
Re: How easy is it for a broker to stop hunt

Thanks.

I find this one particulary worrying. Watch Videos Online | Changing History with MetaTrader Administrator | Veoh.com
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Old Dec 22, 2011, 9:24am   #77
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Re: How easy is it for a broker to stop hunt

What i find worrying is that in the time-frame while the MetaTrader exists no-one has ever stood up for traders. Sure, some stuff was leaked before, like the VD pdf. But as I'm assuming, people don't take this kind of stuff seriously. They are, for some reason, always hoping that this stuff might be fabricated.

So what's actually happening on both sides?

Broker
It's quite easy to setup a brokerage company. First thing you need to decide is what kind of broker you want to be - regulated, unregulated, mm or ecn. The amount of investments you will need depends on your decision. The most cost effective is regulated/unregulated Market Maker. Since the unregulated brokers always seem more SCARY and unreliable then the regulated ones, not much difference separates them. The regulators are more or less a badge they hang to attract you. So the basic steps of getting on your feet as a broker - buy yourself a cool domain name with letters FX in it, get yourself a black box - your market quotes which are stolen from some bank and finally get yourself a team of soulless fu**s who will gladly take the last 25 dollars from a Nigerian widow - and I'm not exaggerating here. So since you are a market maker, you don't need real liquidity, only thing you need is for people to think that this is real liquidity. Even if you had the balls to make a 100 k investment to get your self some real liquidity provider, you ain't gonna use him much, since 95% of all trading will never go outside your company. The fact is that the 95% of people will loose with some or a lot of help of the broker. The other 5% thou, might damage you a lot. Either he sends your orders to the liquidity providers, or he makes you loose.

Trader

You poor *******. If you had the privilege of being born with enough brain to get yourself well educated enough, to never trade - you are lucky. You are very lucky, if you have found a way to cheat when trading (cheating - a low risk, guaranteed income). You are even more lucky if you have made up a great strategy, which allows you to be profitable at all times. And you are the luckiest person in the world if you are THE Trading Guru. But if you are reading this, most probably you are not lucky. You have been cheated and scammed. And your fight against the wrong broker for the money is like a bunny vs napalm bomb. You blame yourself for the loses, you read the ****ty material - books, forum posts, articles which the brokers themselves post, for you to find a way to blame yourself. The forums are full of insiders, pretending to be your friends, to be one of your kind. Writing good reviews for themselves and throwing poo at each other. So if you are still persistent enough to trade with the classic setup mm+mt4, or any mt4 broker in that case - i wish you best luck. You deserve to loose.
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