I would be careful of non regulated FX providers. Even my experience here in Melb, has caused me anguish. Two providers I use are IG Markets and GFT. Of the two I like the IG platform, but have had some strange coincidents recently. I have made say $1000 in one evening only to find that a spike occurs in the opposite direction to my short or long position. I'm then wiped out exactly to the stop loss, This has happened at least 8 times when the trend is in my favour, and to my amazement the trend then continues on its merry way without me. Has anyone else had this happen?? I know they are marketmakers and their rules even permit this course of action. After about $15000 of losses I started to query the procedures. The ACCC does not want to know as they are allowed to make their own prices. It seems unfair, but they have to balance their books and someone has to lose!!! Looking now for non market makers.... Just my experience in the last few weeks. I think they have your stoplosses noted. jb24.
