trading platforms for currencies & charting, page-4

Thanks Dream



Mike, what i have learnt since post; as found another post here with similar
search from someone



1st I learnt, many Forex M.Ms seem to have a habit



- of changing spreads

- taking out stop losses as they know where yours is placed in their software

- Become user unfriendly once making too much profit, eg providing a wider
spread or liquidating the position early or late to their advantage

- Not making it easy to access your cash



Etc etc



It is worthy to note that this usually
happens once profit is being made not during the practice accounts etc. I
was surprised to note, that one of the
worst being CMC markets they get bagged everywhere I look. Interesting
enough I have used them for shares but only a little and was not in profit so
cannot really comment.



I guess as per "Do you really want to
risk your money on hearsay" the answer is no! of course not. However one
has to start research somewhere. Yes there are pros and cons for each broker and
platforms. This provides a forum for this to be discussed.



Personally I need intraday charts, daily and an honest and reliable provider not
much to ask. However it seems that not many Forex providers provide the honest
reliable bit, once profits are being made.



If you are trading forex it would be appreciated to know who you have chosen,
how you find their platform, if they have been underhanded once making profit (
if you are making profit) and do they provide a simple cost effective way of
retrieving your winnings or funds.



Apparently there are several ways for a M.M. to take your money firstly convert
to U.S. dollars (incurs a fee) convert back to Aust dollars (incurs a fee).
Widening the spread during news breaks etc. swinging the market a bit wider to
take out your stop loss, if this was read once I would have thought a bit of
paranoia however read it in a few forums.



One of the Australian M.Ms claims to have removed this possibility of market
manipulation, by having no dealing desk eg straight through to the banks;
however it was interesting to read complaints against this M.M as well.



Then there was mention rather than use a M.M use a broker as the broker makes
money from the broking and not supposed to loose when you win so takes out the
vested interest. The first research done on a broker had numerous complaints and
worse than CMC were getting.



I guess one has to wonder if some of these posts are not put up by competating
agents, trying to discredit the other. I am a bit bamboosled by it all at the
moment, so am trying a platform by forex.com from memory. I feel the platform is
a bit poor as have to keep an eye out for often changes back to default when you
make a change and can easily submit an order different to what you had
anticipated. This would be easy to overcome though.



My main concern is finding a trust worth M.M or ECN broker or combination




M.M. = Market Maker



ECN Broker A
type of Forex brokerage firm that provide its clients direct access to other
Forex market participants. ECN brokers don't discourage scalping, don't trade
against the client, don't charge spread (low spread is defined by current market
prices) but charge commissions for every order.