Here is an entire set of articles of the POTENTIAL forex brokers questions you should ask. I do not reveal true scammers but do question them before signing up
Here is another gem from one of my email subscribers. I consider an absolute gem to peel back the entire ‘forex trading broker scam. This person put together a compilation of links and commentary on this topic. You are definitely no alone. A big thanks to him who is out of Australia!’
Some things to note for newbies
Forex and CFD broker comparison
Market maker brokers pretending to be ECN Forex brokers
HOW TO CHECK YOUR BROKER IS ECN AND NOT A HYBRID DEALING DESK?
HOW CAN ECN/STP FOREX BROKERS GO BUST? (FXCM, Alpari,SaxoBank)
The Truth About Forex Brokers Best Forex Broker For Beginners
Mt4 Virtual Dealer Plug-In: The Perfect Forex Scam?
Look at the video at the end of the web page.
What is A book vs B book in Forex trading?
What is the A Book and B Book that forex brokers use?
A Book and B Book Model
In Australia https://www.asic.gov.au/about-asic/media-centre/find-a-media-release/2015-releases/15-026mr-asic-cancels-licence-of-margin-foreign-exchange-provider/
ASIC was concerned Enfinium failed to have adequate risk management systems, in particular, controls on its Meta Trader 4 (MT4) trading platform and a plug in device known as the ‘Virtual Dealer.’
This powerful piece of forex broker manipulation software allows them to do virtually anything to your trades before, during and after they have been set in motion.
Some of the nasty things this plug-in is capable of doing are:
Widening spreads in order to trigger stops
Ignoring, modifying or deleting outstanding (pending) orders
Configuration for the automated widening of spreads, limits and stock levels prior to news announcements
On-the-fly reduction of leverage to force liquidation of large positions the broker’s customer may have open
if you trade with OANDA – this may be useful:
As always in the Forex casino – Caveat Emptor!
NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!