I've been watching this section of this Forum (and others) every day for a while, hoping it would help with my search for a good broker. It has, but only with a great deal of filtering. If you took all the broker and platform posts here [never mind on forexpeacearmy ] to heart, you'd never trade Forex at all. Here's my take on it:
Some posters 'know' their brokers are cheating them, but stick with them - why?
There are a handful of big MM style brokers whose clients are noticeably more content - they're easy to find here. If you're happy to trade with an MM style broker, or have to with a smaller account, why use anyone else but those brokers?
The degree of heat and/or length of a critical post is often in inverse relation to its usefulness and credibility - someone told me that bad tempered people often make poor traders, I guess that would fit.
More ECN/Currenex clients are professional traders (as you'd expect), they're more often happy with their brokers, and their posts are more often measured, useful, and calm. They don't often make long negative posts here, but they do sometimes make long informative posts which are really useful (thanks guys).
As soon as you think you've at last found a highly recommended broker and/or dealing platform, you'll find posts shooting the broker down for being crooks and the platform for being unreliable. You have to try to sift posts for credibility, and be sure of what you personally need, because this always happens.
Even if it's irrational, I wouldn't use MT4 after watching this board (all sections) for a while. I have no personal experience that brokers manipulate MT4 orders, but I now know it's possible, and MT4 users appear to be far and away the most discontented group of FX traders (as well as the biggest). So, I wouldn't have confidence to trade with MT4, or a broker that recommends it. This is not wholly rational, but I can't ignore it, because having doubts about MT4 gives me an excuse not to be responsible for a trade ('not my fault, the broker was cheating' etc.).
Has this section of the forum helped you find a broker?
Max
Some posters 'know' their brokers are cheating them, but stick with them - why?
There are a handful of big MM style brokers whose clients are noticeably more content - they're easy to find here. If you're happy to trade with an MM style broker, or have to with a smaller account, why use anyone else but those brokers?
The degree of heat and/or length of a critical post is often in inverse relation to its usefulness and credibility - someone told me that bad tempered people often make poor traders, I guess that would fit.
More ECN/Currenex clients are professional traders (as you'd expect), they're more often happy with their brokers, and their posts are more often measured, useful, and calm. They don't often make long negative posts here, but they do sometimes make long informative posts which are really useful (thanks guys).
As soon as you think you've at last found a highly recommended broker and/or dealing platform, you'll find posts shooting the broker down for being crooks and the platform for being unreliable. You have to try to sift posts for credibility, and be sure of what you personally need, because this always happens.
Even if it's irrational, I wouldn't use MT4 after watching this board (all sections) for a while. I have no personal experience that brokers manipulate MT4 orders, but I now know it's possible, and MT4 users appear to be far and away the most discontented group of FX traders (as well as the biggest). So, I wouldn't have confidence to trade with MT4, or a broker that recommends it. This is not wholly rational, but I can't ignore it, because having doubts about MT4 gives me an excuse not to be responsible for a trade ('not my fault, the broker was cheating' etc.).
Has this section of the forum helped you find a broker?
Max