Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Wow! Thanks brother. I also no longer trade forex for this very same reason. Initially thought this only (mainly) happened if you accounts with brokerages outside the US, but seems like it's almost all the same no matter where you turn.
Fellow Traders, So which accounts can I still trade FX using Ninjatrader if I want to trade using margin? Is FXCM the only broker Ninjatrader provides for FX trading?!?
Maybe I am off base here but if the trading wisdom that most retail traders fail is true, wouldn't FXCM kind of automatically win just by taking the other side without any hanky panky playing with spreads and such. Someone please explain? Is taking the other side of the trade illegal? I thought equity brokers like TDA do it all the time.
For disclosure, I have no love for brokers and market makers.
Interactive brokers is still an option with NT. atleast they were recently, but i think i heard you could only trade a max of 30,000 lots. i am about to start doing some research to find out for sure.
if anyone else has info please let us know!
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
I just hung up with FXCM. They could not tell me anything other than they with publish a communication in a few hours on their investor relations page with details.
Waiting.......
Here's the post from MarketWatch.....for your reading convenience....
As far is as I know this has always been the case that FX brokers can take the other side of retail traders. Let'em take the other side of my trades.... I'll take anybodies cash, gladly.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
I think what you're saying about the long term odds being in favour of the house is true, but sadly both regulated and unregulated markets are less than squeaky clean. The temptation to increase the short term odds can prove irresistible. UK spreadbetting firms play games with handy little price spikes that don't appear on other companies charts. BATS supply data at two different speeds. The SEC have had their selective vision detailed in 'Fooling Some of the People All of the Time'.
The flash crash has been blamed on a UK trader, now extradited to face the US justice system, for placing spoof orders from his bedroom. FXCM made the schoolboy error of having no director with the surname 'Corzine'. The authorities have raised looking in the wrong direction to an art form.
There is one thing I definitely agree with Donald - the swamp is in need of drainage.
- sigh - I literally just opened an account with them since I couldn't trade FX at IB ($10M account minimum required for FX until Dodd-Frank gets a "do over").