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#1 Nov. 25, 2008 13:19:00

BobHall
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Anyone Have A List Of Reliable / Trust Worthy FX Brokers

Hi everyone,


I have a question for all experienced traders


One thing that worries me. Using Expert Advisers.

I have a forex robot that works extremely well, so well it's generated heaps already and has the potential to earn many millions a year.


From my understanding, forex brokers need to have a minimum of $5 million capital before they can become a Forex Broker.


How do I know if these Forex Brokers are in fact going through the interbank exchange, and not just moving funds from one of their websites to another one of their network of websites acting like a Ponzi; paying peter to pay paul, if you understand my meaning. Because the last thing I need is that I am making more that they have in their accounts to actually pay out. See where I'm coming from?


Can anyone list a number of forex brokers who have actually paid more than $200,000.00 per month for many years without any delays?


I'm with North Finance and FX Pro, of which is their sister company, but these guys make me a bit nervous. You see, I asked them the other day what is the total volume can I trade, it says in their terms 20.0 volume is the max, but when I spoke to them they said there was no limit. So effectively if I had like $10,000,000 in my account I could trade a volume of 1000.0 ($10,000.00) per pip. How can I be assured that they can pay out millions a month. Isn't there some sort of way to check up if they are regulated / approved brokers?


Thanks for any advice you can give.


Bob

P.S

Doesn't MetaTrader have their own brokerage company?

[ November 25, 2008, 01:20 PM: Message edited by: BobHall ]

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#2 Nov. 25, 2008 16:59:00

Sequitor
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Anyone Have A List Of Reliable / Trust Worthy FX Brokers

quote:
Originally posted by BobHall:
How do I know if these Forex Brokers are in fact going through the interbank exchange, and not just moving funds from one of their websites to another one of their network of websites acting like a Ponzi; paying peter to pay paul, if you understand my meaning. Because the last thing I need is that I am making more that they have in their accounts to actually pay out. See where I'm coming from?

There are no guarantees... consider Refco, for example.

You are probably looking for U.S. Commodities Futures Trading Commission, particularly their reports of Financial Data for Futures Commission Merchants.


Be careful of something that's just what you want it to be. Waylon Jennings
The more we want it to be true, the more careful we have to be. Carl Sagan

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#3 Dec. 4, 2008 03:05:00

o5iri5
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Anyone Have A List Of Reliable / Trust Worthy FX Brokers

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#4 Dec. 4, 2008 03:53:00

marcusvox2
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Anyone Have A List Of Reliable / Trust Worthy FX Brokers

Call me wrong, call me mad, but I smell a spammer winding up to a pitch.


“That man must be an intellectual; no ordinary person could be that stupid.” Orwell

"Sometimes I wonder whether the world is run by smart people who are putting us on or by imbeciles who really mean it." Twain

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#5 Dec. 4, 2008 06:44:00

weejock2
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Anyone Have A List Of Reliable / Trust Worthy FX Brokers

quote:
Originally posted by Marrcus:
Call me wrong, call me mad, but I smell

Your wrong, your bad and you smell, of spam! [Big Grin] [Wink]

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#6 Dec. 4, 2008 08:24:00

MarginCallMagnet
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Anyone Have A List Of Reliable / Trust Worthy FX Brokers

Damn Marrcus! You born in the year of the Dog? Good call. Obviously, this EA bot had jumped right out of an Asimov novel.

Weejock, can you plz fix up ur avatar? It's gving ppl a bad case of dizziness. Thx.


Insomnia? Count pip, not sheep.

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#7 Dec. 4, 2008 08:29:00

weejock2
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Anyone Have A List Of Reliable / Trust Worthy FX Brokers

quote:
Originally posted by MarginCallMagnet:
Weejock, can you plz fix up ur avatar? It's gving ppl a bad case of dizziness. Thx.

[Big Grin] [Roll Eyes] [Eek!] [Frown] [Cool] [Smile] [Wink] [Razz]

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