efexjunkie
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Just wanted to drop a line and say hi to all:clap: I currently am trading with SAXOBANK,Strictly FX (Eur/usd) and dollar yen.Have a profitable day.
Hi To all
- Thread starter efexjunkie
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Axis of Evil
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Hi there.. welcome to the community. It's not that I want to worry you, but i heard some nasty stories about Saxobank. I've read that whenever a rate cut or any other important news having affect on Forex and you made a profit, they will turn it back if they didn't adequately hedge your position. Scalping and other day trading methods are also not allowed. This all has to do with you not playing the market, but you playing against Saxobank. They're the "market maker" so to say and take the spread. The bigger the spread, the more they make. Also, they don't have to report to any market regulators (at least not in Europe), like most other brokers (e.g. US brokers) and thus, If you ever get into a fight about their reasons for taking your profits, they will remind you about the contract you signed and do nothing else. I wanted to get an account for myself, but after some searching on the net, and loads of bad stories on Saxobank, one word kept pop up time after time... bucketshop!
Anyway, good luck to you nonetheless. Be profitable and mostly careful!
