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Reviews of Brokers and Data Feeds


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dishonest brokers

  #6 (permalink)

Market Wizard
Amsterdam, The Netherlands
 
Trading Experience: Intermediate
Platform: Sierra, IRT, ToS, Ninja
Broker/Data: Stage 5
Favorite Futures: NQ
 
bob7123's Avatar
 
Posts: 645 since Oct 2011
Thanks: 130 given, 2,468 received

FX

Why are they bucket shops?

For starters, in a recent futures.io (formerly BMT) webinar Gary Norden, an very experienced trader explains how and why they do it: https://www.youtube.com/watch?v=Rl_hMZZqZ74

Short story they are taking the other side of your trade, and can change the spread you see at will.

For a level playing field, try the E-micro futures contract on the CME. There are many brokers who will let you trade this; their commissions are the same whether you win or lose. The M6E is really the only one with enough liquidity, but at least this way you can lose your money fair and square.

They are nice and small, you can test out live trades without losing your shirt. Also you will learn the details of trading futures, after a while you may get bold enough to step up to bigger ones.

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