Without any doubt, the modern forex market is definitely not a centralized exchange. And so this clearly means that many different forex brokers may possibly have slightly various prices for just the same foreign currency pair. And due to that, many various individuals actually claim that all brokers are truly scams and also that they are probably out to get all your money. Whilst this may potentially be true for several forex brokers out there, a big part of them clearly does not do some illegal practices to take your cash. Besides, many different forex brokers are really legitimate business and it is so possible to earn good money with them.
In fact, there are commonly two main things which people obviously say such brokers definitely practice in order to scam you out of your cash. And thus those ones are slippage and also hunting. Of course, stop hunting is exactly when the forex broker clearly sees that there are many different stop loss orders in the books. Moreover, individuals also claim that the forex brokers also purposely make the current price go to such level, so that their customers get actually stopped out of a loss. And the slippage is particularly when you personally get a bad fill on your exit and enter orders, thus meaning that you obviously do not get that price which you wanted.
In addition, if you personally look online, you are going to see that nearly all forex brokers actually have some reviews that are saying that they practice one or also all of such trading methods. But why exactly is that so? And are all of forex brokers clearly stealing money of their customers? For sure, it is not true. Of course, such reviews are commonly from some losing and also newcomers who are not able to accept that they really placed their losing trades.
Without any doubt, foreign currency trading can certainly be difficult game, so that many individuals are not quite prepared to admit that it was actually their personal fault that they lost their cash. For sure, it is much simpler to blame forex brokers for hinting stops and also giving their orders a very bad fill. However, if such foreign currency traders were actually willing to put a bit more work in the trading methodology and also learn about current market dynamics, they probably would be aware that this just is not the case with the reliable and good forex brokers.
And finally, there have obviously been many cases where forex brokers have been known to be a true fault. But such dishonest brokers clearly do not last long, however, they probably cause you to believe that all forex brokers are just the same.
Before you decide to make a forex investment or start forex trading yourself, better find a good forex book and read more about the currency exchange market – this will save you from tons of troubles and traps.