So what is the take on this?? Is FXopen a scam shop?
Not always, but there are a few things that don't sound quite nicely.Originally Posted by ;
The purpose is that Shing from Dukascopy into FX open is similar to going backward. Specially if the sole purpose is for much better spread... that I'm sure it's just theoretically because comparing a presentation with a true account. Indirectly I found out that fxopen might not have same price feed to their presentation as well as the real accounts. ( see this thread that is unrelated. . There an FxOpen customer claim that Demo and real can have as much as 5 pips difference https://www.forexsoutheast.asia/cryp...-high-low.html )
Dukascopy Bank is among the very best choice were to transaction if our funding grows. At a certain amount of investment, deposit security ought to be the most significant part our trading.
J.
Of course live and demo have various prices. Demo has infinite, simulated liquidity, whereas a live account has real liquidity requirements. Digital Liquidity along with other demo traders at the publiion. Dukascopy and FXOpen will be the exact same in that regard.Originally Posted by ;
As for for security of capital in Australia, you can find lots of legislation to defend you and you are aware that FXOpen complies with ASIC guidelines RG212 which deals with the way client funds are held and used and what is done with said monies should the broker go bust. ie. The customer gets his cash prior to any lawyers or liquidators can touch it. Not to mention we in FXOpen AU have the full support of our buddies at FXOpen NZ that's a huge company in it's own right.
I would not strongly think this resourse. 40% are artificial reallyOriginally Posted by ;
WOW, it's the first time that the Broker representative admits to price manipulation in their platforms.Originally Posted by ;
I mean, the prices that are quoted in the ECN already reflects the worldwide liquidity. That is the reason they change, spike or whatever.
So, you mean to tell us that FXopen doesn't quote those prices to their clientele?
Could you explain from where Fxopen get the price that fed the demo accounts? Your statement that depends of other demo traders in the novels is somewhat absurd. If that was the case... that the Eur/Usd could be some 1000 pips away from real worldwide quotes.
If FXopen feed the demonion with straight true quotes in the ECN, and then quotes distinct price to Actual accounts clients, then FXopen is manipulating the price on real accounts.
When Fxopen feeds the ECN quotes straight true the real accounts, and also the quotes in the demonion are distinct, then FXopen is manipulating the demonion quotes... that will render the demos useless to ck spreads or some other kind of testing.
Which one is it?
Dukascopy doesn't work like that. The price feed is exactly the same for demonion and real... of course, the demonion execute instantly, and also the real once in a while would implement 1 or two decimals of a pips off due to the delay of accepting that the order if too significant. But the price of execution doesn't means that the quoted prices keeps moving along in both platforms in a synchronized manner. . . Since that is the current prices.
Regarding safety of Funds. . .Here is the gap (in plain English) involving trading using FXopen and Dukascopy is the event of the businesses go BUST.
In case your deposit in FXopen is $25 000 and FXopen go Bust... after intervention, audit and liquidation, it's found that FXopen loss 50% of clients cash... then they will hand you $12 500. You loss of your deposit, that is its end.
If Dukascopy go Bust..and after intervention, audit and liquidation it's found that they loss 50% of clients money... you'll get $12500 from liquidators and yet another $12 500 in the Swiss Compensation Fund... that ensured all clients up tp 100 000 CHF in Bust instances. You lost NOTHING.
Throwing up how hard ASIC guidelines and rules is smoking mirror.
The main point is that is irrelevant to the chance of a business to acquire in fiscal troubles and quit complying. No business is immune to failure.
J.
If FXOpen AU and NZ are genuinely independent entities (as mentioned previously ), why would FX Open AU expect to obtain the aid of FX Open NZ at the case of bankruptcy (as stated below)?Originally Posted by ;
Originally Posted by ;
FXOpen will get demo prices from prices offered by numerous liquidity suppliers aggregated together with all the orders of other demo traders.Originally Posted by ;
That is not correct. I think you misunderstand how an ECN operates. Our page in http://www.fxopenaus.com/ECNForexTrading.aspx describes in detail how an ECN works. Please have a read of this.Originally Posted by ;
Dukascopy doesn't work as you explained either so I don't think you have attempted accounts at either broker.Originally Posted by ;
I'm not here to argue the advantages of one regulator within another. ASIC is just one of the Major regulatory authorities and recognised globally as such. ASIC's tough law is one reason why Australia had an extremely soft landing throughout the last Global Economic Crisis.Originally Posted by ;
While the firms have separate management, financing etc.. . FXOpen AU gets considerable aid from FXOpen NZ at the kind of the planet leading ECN engineering and years of experience that we may borrow from.Originally Posted by ;
FXOpen will get demonion prices from prices offered by several liquidity providers aggregated with all the orders of other demonion traders.
... what's that suppose to mean??????
So, your demo receives the prices from various Liquidity providers then your real accounts Liquidity Providers???
What in the heck Aggregated with all the orders of other demonion traders signifies????? . . Does this imply that demo prices vary according to orders from demonion traders???? .
That's not Correct. I think you misunderstand an ECN operates. Our page in http://www.fxopenaus.com/ECNForexTrading.aspx explains in detail how the ECN works. Please have a read of this.
The Way the ECN (Electronic Communiions Network) operates is insignificant.
The only things that matters is from where FXopen get the prices and that which Quote to their clients and what prices nourish the demos.
Dukascopy does not work as you described either so I don't think you have attempted accounts at broker.
Of course it will... I really do trade using Dukascopy Bank.
And Because I have too much to lose I would never trade with an Australian Broker with more then a few thousands I can afford to shed 100%.
If a forex Brokers go Bust or Bk in Australia, there's not any recourse of getting deposits encircle... maybe 20, 30 cent per each dollar but not 100% following Regulators stop the Broker from working.
I'm not here to argue the advantages of one regulator on another. ASIC is one of the Major regulatory authorities and recognised globally as such. ASIC's tough regulation is 1 reason why Australia had a very soft landing during the last Global Economic Crisis.
You return to Regulator Authorities... Agencies that regulate, supervise and intervene if necessary due a non-compliance of regulations. However, this regulatory agencies DO NOT dish out cash to Clients of businesses which fail or if the bureau itself fail to do their job.
In a sense you're right. . There is not any point in arguing what Regulatory agency is better. . .ASIC, FINMA, FSA or other EU regulatory agency.
THE BIG DIFFERENCE is that in Countries like Switzerland, UK and the European Union, in top of getting the Regulatory Bodies. In addition they have Compensation Funds schemes that will dish out the cash to the clients if controlled businesses fail. (to certain maximums). So Traders like us have a real independent resource for cash recovery in case of Broker failure.
J.
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FXOpen AU Pty Ltd * Spread from 0 pips * Pure ECN * ASIC Regulated * Australia really is the lucky country!
Cease drinking Jafar. If I follow your comments each of us can open a demo account, place some fanciful orders (delirious demand/offer) and make spikes as we want. Your standing requires to be regild.Originally Posted by ;
Your joke made my afternoon.