FXCM fined and ordered to pay restitution of $14.2 million to settle charges

[alan5616]

I agree exchange trading is better than forex and some dodgy brokers could hunt your stop , but that doesn't change the fact that in exchange trading your stop would be slipped and the market could move in your favor after hitting your stop , afterall this how the market operates ( price discovery ) ....

Tar,

Obviously, you're an experienced trader but, you seem to be missing the point which I am making here. Either that or, I am failing to explain it effectively.

There is a big difference between a market controlled by brokers (Spot forex) and a market controlled by the traders (Futures). On the latter market, Level 2 information is available, as is price verification from the relevant exchange. If you ever get to have a conversation with an ex-employee of a MM or SB, about spot forex, I assure you that it will be "a road to Damascus" event for you. You will never look at spot forex trading the same way again.

Surely, they don't trade against their clients?

 

[bluepaul]

@ alan5616. would it be better to trade with an STP broker rather than a market maker to stop the broker trading against you, or is that a problem as well.

 

[pc62]

So why there isn't any FX Trading Exchange like NY stock exchange or Nasda? Each country should have their currency trading centralized through Central banks and the FX broker like TD amertade or Etrade in the USA.

 

[alan5616]

@ alan5616. would it be better to trade with an STP broker rather than a market maker to stop the broker trading against you, or is that a problem as well.

Sorry for the long delay in replying but, I have given up financial trading completely. I have found that trading sports markets on Betfair/Betdaq is far more profitable. My only regret is that I didn't change tacks two years earlier.

 

[sushiwasabi]

@bluepaul: read everything on this thread so you will gain a deeper understanding:

www.forexpeacearmy.com/forex-forum/...ers-refresher-intermediate-level-traders.html


@pc62: there is a FSA regulated MTF in London called LMAX
you'll also find more info re LMAX at the first page i listed above.

good luck.

-sw