Discussions on new traders

[Magos]

to have fixed spreads at ALL times.

Fix spreads at all times are very hard for brokers since they are open invitation for arbitragers, a fix spread is reflection of variable spread- so if the variable spread goes high the fix spread remains low so ..... arbitrage.

Maybe not the fairest for the broker dealer.

The other problem is illiquid periods when there is no volatility the order book is thin = which means bigger spreads.

 

[Magos]

What about free candy being sent to your address right after your first deposit?

ACM Gold was sending free cakes for birthdays, and some other brokers who I can not mention alcohol, I guess everything is possible ))

 

[Purple Brain]

Fix spreads at all times are very hard for brokers since they are open invitation for arbitragers, a fix spread is reflection of variable spread- so if the variable spread goes high the fix spread remains low so ..... arbitrage.

Maybe not the fairest for the broker dealer.

The other problem is illiquid periods when there is no volatility the order book is thin = which means bigger spreads.

A factor I hadn't considered. But even so if PefectBrokers provide a fixed spread at 130.20/25 at all times and other brokers are at 130.10/40 during a news release - how would you arb that?

The fixed spread would always be 'inside' the wider variable spread. I thought there would have to be a skew where one broker's bid/offer were 'outside' another broker's offer/bid for any arb opportunities to present.

e.g. Broker-A 130.25/30 Broker-B 130.35/40.

 

[Magos]

A factor I hadn't considered. But even so if PefectBrokers provide a fixed spread at 130.20/25 at all times and other brokers are at 130.10/40 during a news release - how would you arb that?

The fixed spread would always be 'inside' the wider variable spread. I thought there would have to be a skew where one broker's bid/offer were 'outside' another broker's offer/bid for any arb opportunities to present.

e.g. Broker-A 130.25/30 Broker-B 130.35/40.

fixed spread at 130.20/25
other brokers are at 130.10/40

Fixed spreads are builded not on other brokers but on LPs (ECN).

Arbitrage occurs when the fixed spread < ECN (spread); therefore the brokers need to pay the difference if they keep the spread fixed.

All spreads are usually build on top of the interbank market i.e. something like ECN.

 

[Shakone]

ACM Gold was sending free cakes for birthdays, and some other brokers who I can not mention alcohol, I guess everything is possible ))

There we go. Knew it wouldn't be too long. Regulated in Mauritius is it?

 

[Magos]

There we go. Knew it wouldn't be too long. Regulated in Mauritius is it?

Is an example Shakone! What is wrong with you?

 

[Shakone]

Is an example Shakone! What is wrong with you?

Nothing, I'm opening an account. I want some free cake!

 

[Magos]

Nothing, I'm opening an account. I want some free cake!

Sarcastic, but I don not work for them.

 

[Magos]

Clearly a lot of people from different brokers are in this forum upsetting the overall forum behaviour. Examples can be seen above.

 

[Shakone]

http://www.forexpeacearmy.com/public/review/www.acmgold.com

i register with acmgold Ghana 19-04-2012 and fund my account using swift transfer to their Nigeria account with 2600$.

see the screenshort of my payment xxxxxx.jpg

after trading for over eight months and increase the profit of my account i got an email from acmgold that they are no more operating in Ghana and they also disable my account and seize my funds.

i contacted their representative here in Ghana , the guy told me he is no more working with acmgold and has refund all the money of their customers who pay through local bank here in GHana.

i finally contacted acmgold for a refund of my money they keep refering me to their local representative, the guy told me he has not receive any money from acmgold and also suggest i should ask for a proof of the payment uptil now acmgold have not send me any proof.

i have send several emails to them with no response, we are forming association to come to Nigeria and report them to efcc and other security agncies in Nigeria since they have office in Nigeria

they said they are no more in Ghana but they still have a link in their website for ghana

acmgold.com is a scam, they came to scam us in Ghana

They didn't even give him a cake. tut tut.

 

[Magos]

I am not debating on any brokers including AGM, but what I was implying was an example.

Very good example; I will put it under creditworthiness of a broker.

 

[Magos]

I am not debating on any brokers including AGM, but what I was implying was an example.

Very good example; I will put it under creditworthiness of a broker.

Also clearly the above account should write an email to Financial Services Commission of Mauritius or call them.

http://www.fscmauritius.org/contact-us.aspx

Chief Executive
Financial Services Commission,
FSC House,
54 Cybercity Ebene,
Mauritius.

phone_icon : (+230) 403-7000
fax_icon : (+230) 467-7172
mail_icon : [email protected]

 

[Magos]

Day 2 - Summary

retail traders care mostly about:

1. Freebies
2. Fixed spreads if possible! having no or partial understand why spreads increase at illiquidity or volatile periods
3. Regulation, people are concerned with regulation! (maybe due to marketing?). If the broker is not listed in the UK or the US then regulation causes an issue! Mainly due to confusion on the channels where traders can report their claims, i.e. formal procedure when the broker/dealer does not satisfy the traders needs.
4. Independent providers on broker/dealers such as forexpeacearmy.com provide an inside to the broker/dealers credibility mainly using real examples.

looking forward for day 3.

 

[Shakone]

Day 2 - Summary

retail traders care mostly about:

1. Freebies
2. Fixed spreads if possible! having no or partial understand why spreads increase at illiquidity or volatile periods
3. Regulation, people are concerned with regulation! (maybe due to marketing?). If the broker is not listed in the UK or the US then regulation causes an issue! Mainly due to confusion on the channels where traders can report their claims, i.e. formal procedure when the broker/dealer does not satisfy the traders needs.
4. Independent providers on broker/dealers such as forexpeacearmy.com provide an inside to the broker/dealers credibility mainly using real examples.

looking forward for day 3.

What's your evidence that retail traders care mostly about freebies?

The rest of your post doesn't make any sense.

 

[Magos]

What's your evidence that retail traders care mostly about freebies?

The rest of your post doesn't make any sense.

DitterPD comments.

 

[Magos]

What's your evidence that retail traders care mostly about freebies?

The rest of your post doesn't make any sense.

Are you going to help send some good messages across to new traders or you are just gonna be bitter?

 

[Shakone]

Are you going to help send some good messages across to new traders or you are just gonna be bitter?

I'm not bitter at all.

Good messages:

-Avoid unregulated brokers.

-Avoid the advice of those who suggest it is ok to trade with an unregulated broker.

-Make sure that even if regulated, the regulation guarantees your deposit.

-Understand that when it comes to legal issues and guarantees of your deposit, some countries are much more likely to be safer and more reliable than others.

-Do due dilligence, and look at this thread for what some of that entails

http://www.trade2win.com/boards/new...ney-safe-basic-due-diligence.html#post2182302

-Understand that there are users who want to scam you and take your money. These people are wolves in sheep's clothing. They post here! You've read their posts.

-Understand that unless you're willing to do all this due dilligence, you are better off trading on a real exchange - including forex.

-Understand that there's no free lunch in this world. If something sounds like a great gift, there's a good chance they're giving with one hand and stealing your wallet with the other. This applies to free cakes too

 

[Magos]

I'm not bitter at all.

Good messages:

-Avoid unregulated brokers.

-Avoid the advice of those who suggest it is ok to trade with an unregulated broker.

-Make sure that even if regulated, the regulation guarantees your deposit.

-Understand that when it comes to legal issues and guarantees of your deposit, some countries are much more likely to be safer and more reliable than others.

-Do due dilligence, and look at this thread for what some of that entails

http://www.trade2win.com/boards/new...ney-safe-basic-due-diligence.html#post2182302

-Understand that there are users who want to scam you and take your money. These people are wolves in sheep's clothing. They post here! You've read their posts.

-Understand that unless you're willing to do all this due dilligence, you are better off trading on a real exchange - including forex.

-Understand that there's no free lunch in this world. If something sounds like a great gift, there's a good chance they're giving with one hand and stealing your wallet with the other. This applies to free cakes too

Very good message

you might need to expand on the following, for newbies:
-Avoid unregulated brokers.
-Avoid the advice of those who suggest it is ok to trade with an unregulated broker.
-Understand that there are users who want to scam you and take your money. These people are wolves in sheep's clothing. They post here! You've read their posts.

 

[Shakone]

Very good message

you might need to expand on the following, for newbies:
-Avoid unregulated brokers.
-Avoid the advice of those who suggest it is ok to trade with an unregulated broker.
-Understand that there are users who want to scam you and take your money. These people are wolves in sheep's clothing. They post here! You've read their posts.

What don't you understand?

 

[Magos]

What don't you understand?

is not about me Shakone is about the new traders.

When you are saying about regulation and non-regulated brokers you need to define pros and the cons? not being absolute!!!

also another nice topic is onshore and offshore brokers!