Is Forex.com A scam?

This question has been asked to me many times because of Forex.com (or GAIN CAPITAL GROUP) notariatey in the public domain, people often wonder if Forex.com is a scam or is a legitimate broker.

There have been many things said about Forex.com that are very serious blows to their credibility.

# no end of problems with stopouts
# large out of nowhere spikes
# news constantly arriving late
# graphs freezing right before big announcements
# Manual rate execution is awful
# they use thier massive bank credits and connections to pile one against thier “clients” trade and clean you out.
# They pick your stops and buffer your profit targets.
# It seems about 30% of the time it will take a dive on you.
# The more you place an order the more you will loose your money!!!
# the charts don’t correlate very will with the current bid/ask
# they are taking back a pip when I exit a profitable trade
# I dont get the price that I click on to exit the trade but I get one pip less
# NFA’s disciplinary case against them in early 2007 for compliance violations
# disabled my account
# Gain Capital of New Jersey and New York City, and Forex.com are one and the same shyster outfit.
# SEEMS LIKE THEY ARE WORKING A SKIM OVER THERE.

To me all of these allegations are such ludicrous complaints that you as a trader are at fault for. One guy actually says “30% of the time, it seems like it takes a dive on you?” Is he out of his mind? That means you have 70% winning trades and you still are not profitable? Many of the allegations about Forex.com being a scam are just so out there that they can not be believed.

Forex Rebates Cash Back for Trades

Rebates on your Forex Trades?  Many people I talk to don’t know that there are services out there that will give you money back for every trade you make.  Since most brokers make their money by charging their traders X amount of pips in the spread, they leave it open to Introducing Brokers (I.B.’s for short) to earn a part of that spread just for referring you to the broker.  Basically, website owner A has a link on his website to Broker A, Broker A charges you 3 Pip spread on EUR/USD, but .3 pips go to website owner A simply because you found Broker A via his website.  Nothing new of course, but now you may also cash in on this Introducing Broker income by signing up to Broker A, B, C, or D via sites like Cash Back forex, making Cash Back forex your Introducing Broker.  Cash Back Forex gets a cut of your spread and gives it back to you.  If you pay 2 pip spread on EUR/USD, you might get a nice portion of that back instead of seeing it all go to your broker.

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‘NO SPREAD’ Forex Broker?

An ECN Broker With No Spreads? I know, it sounds too good to be true. But I recently came across a banner on a website touting that FX CLUB has no spreads on their currency pairs. So, I decided to investigate and see if this was truly the case and if there was a catch (like IForex.com’s Protected Account isn’t really protected). FXClub also claims to charge comission, however, gives instant refunds on non profitable trades, i.e., if you don’t make money, they don’t make money. A noble thought indeed, but how far do they go? Actually alot further, including NO SWAPS, and just .4 per $1000 traded in commission (they need to eat too). At any rate, I’ll be trying out the free demo starting Sunday night and get back to you all on how it goes Read more

Forex Brokers That Use Expert Advisers

Now, I’d like to preface this by saying this is more of a question to anyone reading than commentary about Forex Brokers. Since I am only familiar with a list of Forex Brokers that Use Metatrader4 (mt4), and in turn you are able to use any expert adviser for meta trader4 with that Forex Broker. Now I realize there are brokers with their own trading platforms that might offer their own expert advisers that let you trade automatically. I’ve been looking at expert advisers for a long time and have never found one that is right for every situation. Thusly, I never really tried any expert advisers with real money.

Forex Broker Reviews and Comparisons

Hello there everyone, found a few sites that will help you find a Forex Broker that’s right for you. Even if you have a broker already, you can use these sites to review your current one or find a better one. Personally, I think I might try out a couple of MT4 (MetaTrader4) compatable brokers from these lists by opening up mini accounts for $250 or less and test out some indicators that I want to try live, but don’t have the nerve (or stomach) to try with big lots. I don’t see anything too risky about this new approach, the initial investments I can easily part with if the markets don’t go my way. Let me know if this is too foolhearty, even if I trade mini lots. just know testing out these expert advisers out, they will be 3:1 win to loss, and losses always smaller than gains, historically. I’m interested in seeing what the spreads will be like, alot of these brokers keep that under wraps unless you ask. Read more

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