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Dude
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Post by Dude » Sat Mar 14, 2009 9:42 am

some customers at forex.com are not happy campers...
…This is the worst trading platform I have ever used. For starters the layout is appalling and account transaction statements won’t work. The java edition is very unstable, crashing every other minute. Secondly, execution of orders is slow and you are only successful after several attempts. Thirdly when I tried phoning them I was waiting for half an hour before I gave up, nobody answered the phone. Their live chat is useful but they’ll give you a phone number and then when you try it they’ll say there are problems with that line, duh! Fourthly, their 5 pip spread on GBP! Don’t waste your time and money with them…
but no one can please all the people all the time.

I also ran across this...
FOREX.com is a registered Futures Commission Merchant (NFA ID #0339826) and a member of the National Futures Association. As an FCM, FOREX.com is regulated by the Commodity Futures Trading Commission (CFTC), must uphold the highest standards and business practices and is subject to strict financial requirements and reporting. Interested parties can visit the NFA web site at any time to review FOREX.com’s record as an NFA member in good standing…â€
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Post by Dude » Sat Mar 14, 2009 9:47 am

Hobbyist,

a while back all forex sites were just like the online poker sites, in that they were completely un-regulated. but it looks like things may have changed lately.

about the fills, I just was trying to say that there is a big difference between the forex sites and how they operate. some just out and out take money from their customers and don't really allow anyone to make anything. these are usually the smaller sites.
the larger sites have enough customers and enough trades taking place that they can profit off the spread they are making with each trade, this spread can add up to enough money where they can then pay out money to the winners and still have a nice profit left over.

so before you open an account, you should check out the site and make sure they are currently pay their customers who are winning. there are a lot of forums and review sites where you can check and get updated information on what the different sites are doing.
There are only 10 kinds of people in this world,
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Post by Dude » Sat Mar 14, 2009 9:58 am

here is the file on forex.com at the NFA

-http://www.nfa.futures.org/basicnet/Det ... id=0339826

they have one action against them for sales practice from 2007 which is not a big deal, and they paid $100,000 for it.

they have had 4 complaints and it looks like they have all been settled with the customer, so that is a good record.
based on this record, I would say this site is as good as any of the regulated brokers out there.
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Post by Hobbyist » Sat Mar 14, 2009 5:30 pm

Wow... I go away for a couple of hours and Elmer has done a ton of research for me... thanks dude!

The reason I thought I would put some real money into a forex account is because I did so well with the practice account.. I had to be dilberately "go for broke" stupid to loose... well that's the way it seemed... I've set up another 30 day practice account and I'm going to see if things go the same way... I assume the commisions are coming off the same as they would in a real account... It seems no matter what point you buy, things are going to go up and down from that ratio in the two currencies... as long as you are paying attention and sell when the ratio has gone up (slightly), you're in the black... as long as you do it with very small amts of cash per "buy" there will be very few buys that never go back up above your purchase ratio eventually... since you outright loose on very few purchases, and gain somewhat on the vast majority... at least the last time I fooled with a practice account.. it seemed prety much a no brainer... to heck with trying to weigh in world events, etc

But, I'm no in no hurry to cough up the $50.. I don't even trust EBay sellers with perfect records with that kind of money :-)

Thanks again for the effort bud!

Update -> They seem to have done away with the micro account option... that used to let you play for a $50 stake... now the minimum is a mini account and that's $250 to start.... hmmm... maybe this is too rich for my blood :-)
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Post by Dude » Sat Mar 14, 2009 10:00 pm

I have been interested in Forex for a long time, but have never opened an account. I have seen some people who where able to make good money with it, and that has always interested me.

and, my guess is when they were registered with NFA they probably had to make a lot of changes.
But it's probably worth the extra money knowing if you complain they will take care of you.
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Post by Market Wizard » Sun Aug 09, 2015 2:42 pm

Death Spiral Financing pays huge returns sometimes 100% or more in just months, with very little risk.

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Post by Dude » Sun Aug 09, 2015 2:44 pm

[QUOTE=Stock Market Wizard;897808]Death Spiral Financing pays huge returns sometimes 100% or more in just months, with very little risk.

This 27-Year-Old Made Millions Riding the Death Spirals of Penny Stocks[/QUOTE]

I have read about that, just never sure how to get into that business?
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Post by Webscout » Sun Aug 09, 2015 4:02 pm

Death Spiral Financing pays huge returns sometimes 100% or more in just months, with very little risk.[..]


Death Spiral Financing .....that pretty much says it all for me....
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Post by Dude » Sun Aug 09, 2015 6:56 pm

200 million in deals, all with something over 50% profit.

I think that says a lot.
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Post by Webscout » Mon Aug 10, 2015 5:06 am

[QUOTE=Dude;897812]200 million in deals, all with something over 50% profit.

I think that says a lot.[/QUOTE]


How successful have you been with them? How many deals have you done with them?
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Post by Dude » Mon Aug 10, 2015 8:04 am

zero,

I have no idea how you would find someone wanting a loan like that.

but it looks like the reason they pay such huge profits is that there are a lot of regulations, and most lenders do not want to go through the trouble of figuring it out for such a limited market.
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Post by Webscout » Mon Aug 10, 2015 9:07 am

Maybe it's Mafia related...
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Post by Market Wizard » Mon Aug 10, 2015 9:29 am

I just found a site called investimonials.com where people post reviews about stock related sites.
it seems to be a good source for finding out what other people are doing in the stock market.
Last edited by Market Wizard on Mon Aug 10, 2015 8:56 pm, edited 1 time in total.

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Post by Webscout » Mon Aug 10, 2015 11:53 am

[QUOTE=Stock Market Wizard;897877]I just found a site called ************* where people post reviews about stock related sites.
it seems to be a good source for finding out what other people are doing in the stock market.[/QUOTE]

Some people will say....do the opposite.
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An NDP win would bring massive financial uncertainty

Post by Webscout » Mon Aug 10, 2015 12:20 pm

An NDP win would bring massive financial uncertainty
SUBSCRIBERS ONLY
Special to The Globe and Mail
Published Monday, Aug. 10, 2015 12:40PM EDT
Last updated Monday, Aug. 10, 2015 12:45PM EDT
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Everyone knew there was going to be an election in October. The date is fixed by law.

Now the campaign is officially under way, and it’s going to be the longest one since shortly after Confederation. Round one came last week with the first leaders’ debate, and there’s much more to come.

By the time it’s over, we’ll have been exposed to so many promises and policy attacks that we’ll be pleading for mercy. At least, we can be thankful that we haven’t fallen to the level of personal mud-slinging that characterizes U.S. politics.

Of course, free elections are the cornerstone of the democratic process. But they can also be a disruptive force when it comes to the economy, the loonie, and your money. And this one figures to be even more disruptive than usual.

Why? One simple reason: the NDP. For the first time in our history, the New Democratic Party has a realistic shot at forming the next government of Canada led by a new prime minister, The Right Honourable Thomas Mulcair. Several polls taken on the eve of the campaign indicated the NDP had a slight lead, with more room to grow than either the Conservatives or the Liberals.

If those results hold up – and there’s no reason to think they won’t – look for a lot of turbulence in the stock and currency markets in the weeks ahead.

Money hates uncertainty – that’s one of the axioms of investing. And a national NDP government would present Canadians, and the world, with a massive dose of uncertainty. This is not to say it would be a bad government – Mr. Mulcair and his predecessor, the late Jack Layton, have done a masterful job of edging the party into the mainstream of Canadian politics, where voters seem most comfortable. And some provincial NDP governments have been quite successful in economic management (Bob Rae’s disastrous term in Ontario being a notable exception).

But such a government would be the political equivalent of Terra Incognito in its early months. No one would know quite what to expect, given than we have never had an avowedly left-wing national government in Canada. The Liberals under Pierre Trudeau were probably the closest we ever came – the West has never forgiven them for the National Energy Policy.

If Canadians wouldn’t know what to expect from an NDP government, imagine the consternation in Washington, which would likely see such a development as a socialist take-over of its closest neighbour. If a Republican should be elected president in 2016, relations between our two countries could turn very frosty indeed – especially if that president was Donald Trump.

As far as your money is concerned, I see two possible effects. They could be short-term or long-term, depending on how a new NDP government performed.

Downward pressure on the loonie. Our dollar already has the deck stacked against it, what with low oil prices, a weak economy, and rate cuts by the Bank of Canada at the same time as the U.S. Federal Reserve Board is preparing to tighten. Add to the mix the international uncertainty that would be created by an NDP victory and a drop to around 70 cents (U.S.) is not unimaginable.

A sell-off on the TSX. The question marks raised by an NDP government would likely prompt many investors, domestic and foreign, to reduce their positions in Canadian stocks. Mr. Mulcair’s pledge to raise taxes on large corporations would reinforce this thinking. This might not occur until after the results were confirmed on election day but the greater probability is that the sell orders would start to flow in September if the polls continue to show the NDP in or near the lead.

I know that these comments may be construed by some as supporting Stephen Harper’s mantra that only the Conservatives can be trusted to manage the economy and that voting NDP is a risk not worth taking. That is not my intent. It’s up to every voter to carefully assess all the facts before making a decision.

But. however the next few weeks unfold, I believe that the realistic possibility of an NDP victory will sow the seeds of uncertainty and have the effects I have described on the markets. Supporters of the party will contend that it’s a price worth paying. Investors will have to make up their own minds about that.
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