Am i getting ripped off bad?

peilthetraveler

peilthetraveler

I opened a mini account with Forex.com, but after reading some other websites now, i think i may be getting ripped off. Only USD/JPY has a low pip spread with them (usually around 3 pips, but sometimes about 2.5 pips if im REALLY lucky) But with other spreads, like USD/CAD there are 8 pip spreads with that. USD/GBP is usually about 5-6 pips. I read all these sites like GFT that says "as low as 1 pip spreads" Is this true? I already plan to get out of forex.com because of there terrible chart software, that usually takes 30 seconds or more to update which can really mess you up when you are looking at lots of charts. Theres been at least one time where I thought there was a breakout from the moving averages, only to find out seconds later after i put in an order that there wasnt. So Am i getting ripped off with the pip spreads.
 
Be aware the forex company that charges zero commission like forex.com because they totally gonna make money against you in whatever way they can.
 
what I can't wrap my pretty little head around is

how in the world are these FX bucket shops even legal ??????????
 
fx is not a regulated market. its the same as if you go to Mc donalds an buy a hamburger at 2 USD, and aroudn the corner someone sells the hamburger at 2,50. Its your choice where to buy. Its different to futures :-))
Thats a clear transparent regulated market.
 
Quote from moarla:

go only with ECN forex brokers
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More expensive, risk of slippage, same quotes as most bucketshops......where's the benefit?

If you're worried about the potential bucketshop conflict of interest then trade futures.

The 'bucketshop vs ECN vs Futures' is an old argument which has been debated to death on pretty much every trading forum, no-one ever agrees!
 
Quote from cabletrader:

More expensive, risk of slippage, same quotes as most bucketshops......where's the benefit?
More...

you are either insane or some noobie, bucket shops play a virtual reality game with you and they are the masters
 
Quote from rtp100:

you are either insane or some noobie, bucket shops play a virtual reality game with you and they are the masters
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lol, yeah ok.

Like I've said, the 'bucketshop vs ECN vs Futures' argument has been flogged to death, old news and no-one ever agrees.

Pro's and con's for both, read this thread and educate yourself first before making inane comments, then come back and argue your point with more than personal insults :)
 
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