Unfortunately dishonest brokerages use a lot of methods for stealing their clients’ money. As usual they use legitimate reasons to hide behind. Perhaps you’ve already noticed that from time to time your broker refuses to process your requests. Sometimes your winning trades also get canceled and you don’t see any reason for this. So it’s high time to quit this scam brokerage. Beware of subtle methods used by scams. Learn how to recognize them.
Let’s start with “pip hunting”. I should say that this term is used when it comes to denoting short term trading strategies. For example this may be scalping. It’s not a problem for scams to negate this type of trading strategies. They impose severe rules on “minimum time” you must hold your positions. It’s clear that it’s impossible to close your trade before this time passed. Otherwise your trade will be canceled. This way they steal your profits. It’s sad isn’t it?
Keep in mind that these rules will be probably buried between other rules on the agreement. In other words you won’t be told about this essential nuance during registration. It’s clear that if you occasionally violate these rules then your broker will cancel your trade having rather a legitimate reason to do this.
Then I should mention requotes. Very often prices move so fast that when you enter your market order the prices have already changed. So your trading platform simply cancels the order placed by you and you’re given a new price. You have to enter the market at the new price. It’s a requote. It’s quite typical to this extremely volatile market.
Perhaps you are still unable to enter the market at the required price. You’re tired of removing barriers on your way. They create new ones on a regular basis. Requotes keep on eating your potential profits. Don’t be a silent spectator of this horror. Try to shift to another broker.
Traders might find this info on managed forex trading useful as they need to manage their activities somehow. Actually they can regularly search the Internet for Forex investments to get even more helpful details.
Author: Dmitry VasenyovThis author has published 113 articles so far. More info about the author is coming soon.