[warning] Horrifying broker nightmare

Scott ShubertBusiness3 Comments

Horrormaske

They come straight out of hell.  And when you enter a trade you can almost hear them let out that shrieking cackle like the Wicked Witch of the West.  You know they are just waiting to see the last of your deposited capital get sucked from your account like a vampire biting your neck.    Every time you lose they dance around the fire with perverted delight. 

That’s the picture that many traders experience regarding their own broker and some of the paranoia is for good reason.  But for those who trade professionally and have already made it past the point of blaming brokers for their losses, they know that the broker  is their most respected business partner.   Your entire business depends on having a positive and mutually beneficial business relationship with a Forex broker.

How many times people ask me, “Do you know of a good honest broker?”   I’ve been searching myself and put the question to the community.  I started a little survey to ask “Who all among us is making a living from trading and what broker do you recommend?”   After all, if you read about a lot of people bitching and complaining about their brokers stealing their money you have to know that almost all of those people don’t know how to trade and don’t make a living from trading. 

So the only people whose opinion is worthwhile are those who do know how to trade and do make a living from trading The answers are still rolling in and so far it’s been quite educational for me.  I discovered a few real gems that I wasn’t that aware of before.

As the information comes in I will be updating you about what I found out.  And here is one of the names that so far came up over and over among some of the members of our international community of professional traders.   Have you heard of them?   Let me know what you think.   And I definitely want to know what you have found in your own experience so far.

 

Talk soon,

Scott

  • Mike

    Hi Scott,
    Who is your MT5 broker?

    • I don’t trade with MT5. I use MT5 demo as a charting tool. I also use Esignal and MotiveWave but recommend MT5 for free charting because it has the critcal extra time frames and after about 9 years Metaquotes has never updated MT4 with additional time frames, fibonacci expansion tool that is not stuck at 90 degrees, and other improvements that happened around 9 years ago In my opinion Metaquotes is the most incomeptent software company in the world and yet they still control the Forex trading platform market.

      Anyway, you can use Swisswuotes MT5 or download it directly from Metaquotes to use the demo for charts. For trading you can use your brokers proprietary platform or MT4.

  • Michael Stump

    starteed trading 7 months ago in that time the account produced over 1.6m and lost all but 500.00. up & down finaly cought on what was going on he would give 20k in wins and 40k in losses oh the market fliped on us you need to deposit more money so we can turn this around and 50k indeposits and 70k in bonuses = 2.4m in turn over requirements which was not explaned to the new guy. even if you read everything on the web site being new you do not understand it. after finaly getting it explained its to late. my qustion is don’t brokers make money on your winning trades? the company does. the web site was recommended and also the broker. did search on the web site and it had good recomandations. I have had bad luck on most of my endevers not just this one. HARD LESSION TO LEARN hope y’all have better luck