I hate my FX Broker

By marketing on Oct 4, 2011 | In Forex Diary | 2 feedbacks »

Complaints about brokers are very frequent. Some are scams, others are using nifty little tricks to draw more money out of your pocket and then are those who seek their own advantage against their customers. One of the tricks they use are changing margin requirements. Dukascopy from Switzerland changes margins for weekend leverage from 100 to 30. If you exceed new weekend margin, they open a trade against you that will cost you a fee and you will be responsible to close it again. They don't just cancel your existing trade for free. Saxobank has problems in showing exact margins to people who frequently open and close FX options on the same day.

Follow up:

It can occur you open a new spot trade that is well within existing margin requirements to be stopped out at a loss just seconds later with explanation of insufficient cash or margin call. Very frustrating experiences.
My new goal in FX trading will be to trade FX options and not spot. This way I will not derive my profits from other traders' losses but from the cash balance of my broker. Revenge is sweet!

Comment from: Norman [Visitor]
Where I can find a trader to manage my account?
tried my account many times but I've only lost money, anyone knows a good trader who manege my account please?
11/24/11 @ 20:33
Comment from: Osman [Visitor]
A good trader? ......... mmmmm the only one I've seen that really gives you a sensible profit according to my friends is a trader Shiroma name, I forget the name, you can search in google - *Shiroma trader* - I think you should appear, he is from Japan but speaks English and Spanish .
11/25/11 @ 14:01

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