When selecting a Broker - don't forget this KEY point - my opinion
To McGarry and the Rest of the Group here...
No - I am NOT using FXCM - despite their claims...Here's why.
Trust NO one. That is, EXCEPT for MB Trading - an exceptional, unique company and unlike the rest. Please take a moment. It's a long one - I hope you can hang in there.
I am an FMT "user" - using that word loosely - as I primarily trade traditionally, (manually, using price action and several indicators). I use real money, up to $100 USD per pip (100 mini lots trade size) - and am supplementing my retirement. I trade for a living, not as a video game.
I am writing this for one reason - to spread the word about a company which I believe is so different - and can help any individual trader better succeed. This is my second post anywhere in 3 years - so I rarely take the time to do this. I am not related in any way to MB - except as a retail customer.
I recently met with a group of Asian businessmen who were exceptionally wealthy and in the process of doing their research to establish a forex dealer / brokerage entity. They revealed some very interesting "inside" info about why they wished to enter the business - and how it was like "shooting ducks in a barrel" - in terms of their ability to almost print money at the expense of their customers / traders.
It absolutely ASTOUNDS me that thousands of traders use any number of Brokers who can work directly against them. No one should EVER use a broker who takes a trade against you or hunts your stops. Never. You are just giving your hard earned money away. But you are deceived into believing you can be a winner. It's like a slot machine - you lose, you lose, you lose, then you win a bit - and that keeps you pumping money into the slot machine - making the casino richer.
1. An absolute key in broker selection is that the broker is an inert, objective, disinterested party - that is, they do NOT take a position against you as do market makers and those with a dealing desk.
MB has A TRUE non-dealing desk approach UNLIKE so many others that take direct positions against you (sort of like having the dealer always seeing your hand at the poker table). And they do NOT use the term "no dealing desk" loosely as do so many others - leading you to believe that they never take a position against you.
2. They now provide the MetaTrader platform - but their version of the platform is UNLIKE ANY OTHER - in that, as I understand it, has closed the back doors to ensure that the Broker cannot steal - read their info. I was told by those wealthy Asian businessmen (so this makes it hearsay - and not to be accepted as fact - ugh!) that MetaTrader was being to sold to them with the INTENT of allowing them, as a potential broker / dealer to manipulate the trades of their customers to their advantage. Go here - and read why MB says their version of MetaTrader is different. http://www.mbtrading.com/metatrader4.aspx?page=overview)
I learned as you all have that accurate and immediate executions are key. But most important of all - is that your Broker does NOT have a vested interest in seeing you lose.
3. I have been with MB for approx 3 years - and have found their support responsive and available.
4. I read the complaints others have had in this posting and while no company is perfect - it appears that the issues are more often than not customer error, customer inexperience, customer failure-to-understand, etc. - as opposed to MB failures.
5. Their executions are CONSISTENTLY and AMAZINGLY instantaneous.
I find reasons to compliment anyone very rare these days. However when I encounter an exceptional vendor who is truly different - and legitimate - I am driven to comment. I recommend MB trading without reservation - and to those who wish to truly trade on a more level playing field.
I encourage you to do your own in depth research - and NOT be taken in by the hype of fancy Forex Broker websites - offering you extras - that in fact are meaningless when compared to the possibility that they take trading positions against you and use software which allows them opportunities to further manipulate your success. I may be all wrong and incorrect in my opinion. If so, I apologize.
Again, do your homework and form yours - validate everything, test my beliefs and take no action without doing your own independent research - after all, this is again, just my own, unprofessional opinion and feeling - as a customer - nothing more.
I wish everyone the best in their pursuits.
To McGarry and the Rest of the Group here...
No - I am NOT using FXCM - despite their claims...Here's why.
Trust NO one. That is, EXCEPT for MB Trading - an exceptional, unique company and unlike the rest. Please take a moment. It's a long one - I hope you can hang in there.
I am an FMT "user" - using that word loosely - as I primarily trade traditionally, (manually, using price action and several indicators). I use real money, up to $100 USD per pip (100 mini lots trade size) - and am supplementing my retirement. I trade for a living, not as a video game.
I am writing this for one reason - to spread the word about a company which I believe is so different - and can help any individual trader better succeed. This is my second post anywhere in 3 years - so I rarely take the time to do this. I am not related in any way to MB - except as a retail customer.
I recently met with a group of Asian businessmen who were exceptionally wealthy and in the process of doing their research to establish a forex dealer / brokerage entity. They revealed some very interesting "inside" info about why they wished to enter the business - and how it was like "shooting ducks in a barrel" - in terms of their ability to almost print money at the expense of their customers / traders.
It absolutely ASTOUNDS me that thousands of traders use any number of Brokers who can work directly against them. No one should EVER use a broker who takes a trade against you or hunts your stops. Never. You are just giving your hard earned money away. But you are deceived into believing you can be a winner. It's like a slot machine - you lose, you lose, you lose, then you win a bit - and that keeps you pumping money into the slot machine - making the casino richer.
1. An absolute key in broker selection is that the broker is an inert, objective, disinterested party - that is, they do NOT take a position against you as do market makers and those with a dealing desk.
MB has A TRUE non-dealing desk approach UNLIKE so many others that take direct positions against you (sort of like having the dealer always seeing your hand at the poker table). And they do NOT use the term "no dealing desk" loosely as do so many others - leading you to believe that they never take a position against you.
2. They now provide the MetaTrader platform - but their version of the platform is UNLIKE ANY OTHER - in that, as I understand it, has closed the back doors to ensure that the Broker cannot steal - read their info. I was told by those wealthy Asian businessmen (so this makes it hearsay - and not to be accepted as fact - ugh!) that MetaTrader was being to sold to them with the INTENT of allowing them, as a potential broker / dealer to manipulate the trades of their customers to their advantage. Go here - and read why MB says their version of MetaTrader is different. http://www.mbtrading.com/metatrader4.aspx?page=overview)
I learned as you all have that accurate and immediate executions are key. But most important of all - is that your Broker does NOT have a vested interest in seeing you lose.
3. I have been with MB for approx 3 years - and have found their support responsive and available.
4. I read the complaints others have had in this posting and while no company is perfect - it appears that the issues are more often than not customer error, customer inexperience, customer failure-to-understand, etc. - as opposed to MB failures.
5. Their executions are CONSISTENTLY and AMAZINGLY instantaneous.
I find reasons to compliment anyone very rare these days. However when I encounter an exceptional vendor who is truly different - and legitimate - I am driven to comment. I recommend MB trading without reservation - and to those who wish to truly trade on a more level playing field.
I encourage you to do your own in depth research - and NOT be taken in by the hype of fancy Forex Broker websites - offering you extras - that in fact are meaningless when compared to the possibility that they take trading positions against you and use software which allows them opportunities to further manipulate your success. I may be all wrong and incorrect in my opinion. If so, I apologize.
Again, do your homework and form yours - validate everything, test my beliefs and take no action without doing your own independent research - after all, this is again, just my own, unprofessional opinion and feeling - as a customer - nothing more.
I wish everyone the best in their pursuits.
