so is this true?

I now trade with Dukascopy. It's a good broker. I used to have account with HotSpot, but now they only accept institutional clients and only high net worth clients, over $1 mil. They transferred my account to FXCM. I withdrew afterwards and changed to Dukascopy.

Dukascopy is great, but I think the minimum to open standard account is $50k.

I am still with Oanda. They are okay. No problem with execution. They increase their spread when there's major news. So I guess it really depends on how you trade, be good in your money management and have enough discipline then you will do well, whether trade futures or spot forex.
 
Quote from Devin Brady:

Quote from RedDuke:

When Refco went down in 2005, futures customers had no issues withdrawing their funds, but forex customers could not withdraw funds for few years, and then got 10-15c on a dollar or something like this since funds are not really segregated. So even if forex shop is NFA registered no guarantee fro your funds either.


I was working for Refco during the debacle---good times lol.

Like I posted before. If you are worried about stop hunting and everything else that seemed prevalent during the infancy of FX you should look into using raw spreads.
You have to meet certain volume requirements, and a larger account size, but if you are a serious FX trader it looks to be the best and most transparent way to go.

Devin Brady
dbrady@globalfutures.com
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This is true. Do what Livermore used to do: use the bucketshops to make your nut and then go trade with the big boys.

Raw spreads are the way to go, just make sure your broker has multiple price feeds coming in, preferably one being DB's autobahn.

I use FXCM UK, regulated by FSA thereby requiring separate accounts. So you don't have to worry about another Refco situation. Still allowed to hedge. Active trader platform, min 25K.
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Quote from Devin Brady:

....but if you are a serious FX trader it looks to be the best and most transparent way to go.
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More transparent, sure, but not necessarily the best way to go.

Bucketshops have their benefits, it depends on how one trades and what one needs.
 
is GFT Forex also a bucket shop? i read above posts that with 25K you can access raw spreads so it's like a different account type. is such account available in all bucket shops?
 
The only problem I have encountered as far as trading spot goes is that my broker, FXCM, restricts you from placing entry orders or moving your stop loss to within 5 pips of the current market. There are certain strategies that I use successfully on futures (and used successfully on spot when I briefly traded with Oanda) that I just cannot make work at FXCM. My solution was not to trade it with FXCM.
 
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