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Thread: Forex.com

  1. #1
    I beleive FOREX.com is commiting fraud. I hope I'm mistaken.

    Allow me to clarify why I believe so.

    Their platform lets you set a stop from the entrance price and greater.
    This could really wipe out of your account when the trade goes against you.
    The stop should be 1 pip in addition to the spread for you to get a possibility of winning the transaction and not having an opportunity of getting wiped out.

    For instance in the Euro/Usd pair in which the spread is 3 pips you buy in 1.3403 and place a stop at 1.3403, or1.3402, or 1.3401 along with a goal of 1.3404.
    Your cease and limitation are sell trades. Because of the spread the moment your buy is implemented, your bid price is 1.3000 that is below the stop. If the position continues to go against youpersonally, your account could be wiped out right away.

    I asked lots of men and women that are into Foreign Exchange trading this query and they thought that so long as you set a stop loss below the entrance price which you cannot lose more than what is defined by the stop loss. After I contacted and pointed out this they agreed with me that the platform should not permit this. I requested the direct business contact address, e-mail or the phone of Mark Galant,CEO, to discuss that issue with him. They ignored my orders. A number of them stated that they'd contact increased managent to mend this. They've neither rectfied this nor contacted me.

    I'm only concerned about individuals that are not aware of it and shed their hard earned cash for no reason.

    I understand some people will say nobody should put a stop that close. That's beside the point. I am talking about dishonesty, in my view.

    I hope Merlin, vdluca, firedave and others who know a lot more about Foreign Exchange and trading will address this issue.

    Peace,
    Mangala

    [: edited thread title]

  2. #2
    hmmm...

    i wouldnt call this fraud. Perhaps more like a quark within their platform. You wouldn't have any motive to input orders like you're suggesting. It might need to be an error on your part. Errors can cost a lot, you need to be quite careful to always double check your orders. You may earn a one-keystroke-error that costs you 10% of your portfolio, thats the game we play with.

  3. #3
    Thanks, Merlin.

    I'd imagine somebody like Mark Galant, who had been included in the computer business, would make certain something like this wouldn't happen.

    I want to give the benefit of the doubt to Forex.com. I hope they rectify this.

    FXCM and Refco use the identical platform and have the built-in safety feature of not allowing a cease to be put less than 5 pips away. This works good for the majors.

    I discovered something else with Forex.com. I hope others noticed it also. While the prices remained the exact same or shifted somewhat in the dealing rates window, the prices fluctuated wildly in the charts. I hope someone can explain this.

    Merry Christmas into Everbody!

    Mangala

  4. #4
    Quote Originally Posted by ;
    I noticed another thing with Forex.com. I expect it was noticed by others also. While the prices remained the exact same or altered somewhat in the dealing rates window, the prices fluctuated wildly in the graphs. I hope someone can clarify this.
    Those charts are not coming out of the Forex.com rates. I discovered this also. Never have I seen any quotes that flutter up to the forex.com charts.

  5. #5
    I am also with forex.com -
    1) Concerning the stops- I thought it was obvious that the minimal stop is at least 4 pips off on the majors. When petty with their demo I knew it.

    Two) about their charting software - It does not load for me anyhow - I use metatrader for the charting and also find that it correaltes quite well with the forex.com prices.

  6. #6
    I entered long in USDJPY at 118.41 yesterday and today average rate is 118.365, I gained over 5.5 pips only within an overnight rollover.

    How much can you make in rolloers, the utmost sum that I have earned isn't over 1.5 pips each day.

  7. #7
    Quote Originally Posted by ;
    I entered in USDJPY in 118.41 yesterday and today average rate is 118.365, I gained over 5.5 pips just within an overnight rollover.

    Just how much can you earn in rolloers, The maximum sum that I have earned isn't more than 1.5 pips a day.
    __________________
    I left my job on trading. Full-time trader since April 14, 2006
    Hi

    1)118.41 - 118.365 = ?
    two)Full-time trader since April 14, 2006.... Does this mean you become a full time trader tomorrow ? .... All the best on your trading

    Any extra pips in rollover are probably due to to the Easter Holidays as certain markets are closed on Friday and/or Monday meaning that its an extra long weekend untill settlement.

  8. #8
    Hmmm... I have never heard of that... Extra pips??? Are you sure???
    There's generally something called SWAP, that can be overnignt interest.
    Can You possibly post a portion of your account activity report?
    Something that will illue this transaction...
    This sounds quite intriguing...

  9. #9
    Quote Originally Posted by ;
    I entered in USDJPY at 118.41 yesterday and now average rate is 118.365, I gained more than 5.5 pips just in an overnight rollover.

    How much do you make in rolloers, the utmost amount I have earned isn't greater than 1.5 pips each day.
    On Wednesdays rollover is x3 (times 3).

  10. #10
    Quote Originally Posted by ;
    On Wednesdays rollover is x3 (times 3).
    Hello habeeb

    Why?

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