It’s just too easy to blame the broker – you lose a trade and blame the broker for stretching the market in order to stop you out. You try to exit a trade at a busy moment and you blame your broker for freezing the platform in order to prevent you from making a profit. You put your money and your trust with the broker and you feel that you’ll leave without them. But before wasting your time in complaining, there are quite a few things to do.
Well, in some cases you could be right. There are some problematic brokers out there and they do such tricks in order to turn your deposit into their revenue.
But if you’re trading with a broker that has no dealing desk, or an ECN / STP platform, that’s unlikely to happen. Such a broker passes your order to a larger liquidity provider and doesn’t play with your order. In such a case,the broker genuinely profits from the spreads, meaning that your interests are aligned with the broker’s interests. More trader success = more trades = more profit.
But also when your broker is a regular market maker, it doesn’t mean he’s stealing your money. if you’re trading with a regulated broker, there’s a smaller chance that this is the case. And if you’re trading with a regulated NDD / ECN / STP you should sure look for the blame elsewhere.
No matter what broker you trade with, you should first check out what went wrong: did you follow your trade plan? Were the Stop Loss and Take Profit orders carefully placed? Did you try to make an impossible trade?
It’s important to remember to first check yourself out. Complaining to friends or on message boards may be a great way to release the pressure, but it sure won’t bring your money back. Checking out what went wrong and learning a lesson will definitely help you make money in the future.
Well, in some cases you could be right. There are some problematic brokers out there and they do such tricks in order to turn your deposit into their revenue.
But if you’re trading with a broker that has no dealing desk, or an ECN / STP platform, that’s unlikely to happen. Such a broker passes your order to a larger liquidity provider and doesn’t play with your order. In such a case,the broker genuinely profits from the spreads, meaning that your interests are aligned with the broker’s interests. More trader success = more trades = more profit.
But also when your broker is a regular market maker, it doesn’t mean he’s stealing your money. if you’re trading with a regulated broker, there’s a smaller chance that this is the case. And if you’re trading with a regulated NDD / ECN / STP you should sure look for the blame elsewhere.
No matter what broker you trade with, you should first check out what went wrong: did you follow your trade plan? Were the Stop Loss and Take Profit orders carefully placed? Did you try to make an impossible trade?
It’s important to remember to first check yourself out. Complaining to friends or on message boards may be a great way to release the pressure, but it sure won’t bring your money back. Checking out what went wrong and learning a lesson will definitely help you make money in the future.
Editors’ Picks
EUR/USD retreats to 1.0750, eyes on Fedspeak
EUR/USD stays under modest bearish pressure and trades at around 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD struggles to hold above 1.2500 ahead of Thursday's BoE event
GBP/USD stays on the back foot and trades in negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The renewed US Dollar strength on hawkish Fed comments weighs on the pair as market focus shifts to the BoE's policy announcements on Thursday.
USD/JPY surges to near 155.50 as Fed expects to prolong policy rates
USD/JPY extends winning streak amid hawkish sentiment surrounding the Fed’s stance on monetary policy. Fed's Kashkari anticipates the prolonging of elevated rates and suggests that further rate hikes are not entirely ruled out. The Japanese Yen depreciated despite the potential for intervention by Japanese authorities.
Editors’ Picks
EUR/USD retreats to 1.0750, eyes on Fedspeak
EUR/USD stays under modest bearish pressure and trades at around 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD struggles to hold above 1.2500 ahead of Thursday's BoE event
GBP/USD stays on the back foot and trades in negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The renewed US Dollar strength on hawkish Fed comments weighs on the pair as market focus shifts to the BoE's policy announcements on Thursday.
Gold fluctuates in narrow range above $2,300
Gold struggles to make a decisive move in either direction and moves sideways in a narrow channel above $2,300. The benchmark 10-year US Treasury bond yield clings to modest gains near 4.5% and limits XAU/USD's upside.
SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51
Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.
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