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)
Due to the new regulations on the forex USA broker market they are now forced to publish the profitablity rate of their active non management retail accounts.
more than 20% on average is profitable, the 5% rule seems to be a big lie ?!!
Oanda is jumping out with a whopping more than 50% profitable customers.
I don't think this proves 5% is not true.
This table shows profitability in that particular quarter, but doesn't take into account how many times an account has been funded.
And where do inactive accounts land - my guess is on the profitable side. How is this calculated is another concern.
Note: most of these brokers' # of accounts are declining. I'm betting that accounts which blow up and closed, aren't even accounted for.
While I don't believe in the 5% figure that gets thrown around, these numbers are likely the absolute best, and they aren't particularly good. If I wasn't already trading profitably, not sure these numbers would encourage me.
Why would I hate it?
Yes, US law is such a high standard...
I'm fascinated why so many people care how the average trader is doing?
Fine if you're looking to enter the biz, but if you're on futures.io (formerly BMT) it's likely too late for you to consider.
I'm far above average and I love the fact only 30% are profitable (even lower when you consider material profitability)
Note the percentages have dropped at most of the brokers, but I think it's more interesting to look at the total number of accounts. They have dropped dramatically at FXCM and FX Solutions, but have increased at Oanda. Losing a third or half of your accounts in a year seems excessive. Do you think they have actually lost that many accounts? Hmmm.