This series of articles is to
help forex traders understand how to avoid having a bad experience with a forex
broker. Firstly, a forex broker does not intentionally set out to punish you or
your specific trading strategy, however, the fact is that many forex brokers
are limited to the type of trading strategy they can accept and handle
comfortably.
There is not a broker in the
world that can accept every trading strategy, and as such, any broker that does
is simply not being transparent. Many traders have found out the hard way.
How to choose the right forex broker?
There are many aspects of choosing
the best Forex broker for you and this decision is probably the most important
decision of all.
Every broker is good, honest and
reliable, until the point that they realise that clients are operating a
profitable trading strategy, EA or scalping robot. This is where the real
issues start for clients trading with MARKET MAKERS.
Once you've reached this stage,
there several manipulations employed by market makers to look out for such as,
strange trading behavior a change in execution quality and possibly
re-quotes. At this point, if you are an experienced trader, you will ask
yourself “do I actually trust this broker to pay my profits?”
Let’s share a secret, these
brokers are ones that trade against you and make money when you operate a
losing trading strategy!
Coming up - How does a forex trader identify a market making broker?
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