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Thread: Smarttradefx

  1. #21
    Hey Marv,

    Wrong Man!

    I do not work with STFX. I am just a new (noob) client expressing my own thoughts.

    chris

  2. #22
    Quote Originally Posted by ;
    I am just a new (noob) client expressing my own ideas.
    By praising a bucketshop in your very first post?

    Either you work for them, or you ARE a noob.

    Anyhow, if it is the latter, my first advicefor a real broker.

  3. #23
    If they are an STP broker, how can they be a bucketshop? If that seems naive pardon my ignorance. I know what a bucketshop is, but my understanding of a STP/ECN broker is that they can not control the transactions and therefore can not be a bucketshop

    If they prove to be bad news, who do you imply here in canada?

  4. #24
    Hi used2b,

    What did you consider the safety of your money? My concern is that their performance will be run by them and wind up using clients funds, and then go bankrupt, and our money is unrecoverable.

    Glad to hear from someone actually using them.

    Good fortune learning fx. My information is invest only a little. Just take the opportunity to learn the market until your investment assembles out of your own earnings. The pride of knowing you built it will probably be well worth it. Additionally, it will save the thousands you'll lose differently. Better to lose hundreds or tens for the first six months instead.

  5. #25
    Quote Originally Posted by ;
    If they are an STP broker, how can they become a bucketshop? If that seems naive, pardon my ignorance. I understand what a bucketshop is, but my comprehension of a STP/ECN broker is they can't manipulate the trades and therefore can't be a bucketshop

    should they turn out to be bad news, who do you suggest here in canada?
    There's a massive gap and universe of difference between what a business agent tells you in a email, and the way they make you 'feel' versus what is written in the client agreement which you agree to - that legal record takes precedence and is everything that matters. The 'fine' email response you get and receiving phone calls replied are unworthy.

    I tried their (demo) MT4 platform and it is excellent: super quick server responses, no requotes, along with an ability to place SLs/TPs quite close (ie., lt;1pip when I recall) to your current price. This makes it a much better implementation many other top tier players that are Alpari, than ATC, LCG.

    If you're starting with $500/$1K/$2K even though that's a lot of $ to get some, in the scheme of things it isn't. And, chances are, you will lose it - or margin call. (the latter being positioned to the benefit of the house/broker/market - ie., using a $5K account, you can find a margin call with $3500 of equity still left) Whether you lose your funds to the house/broker or the true market is immaterial - you'll never truly understand and are never truly able to demone it. Their customer agreement seems to say your order may not flow to the 'market.' I can't imagine they have lots of accounts past $10K. If I'm going to set up a $50K account, there are too many flags: why not disclose your liquidity supplier and also the order flow, if you are indeed *not* a bucketshop? 200:1 leverage? Please. That's the expressway to accounts, when utilized in conjunction with their percentage margin requirements; if you want trading electricity bet double your intended amount with a account.

    I don't want to enter the details of the email response they provided, but it is childish, very low level, filled with lies and half-truths throughout, placing the accent on completely futile 'feel good' steps - all of which can be in no way any form of a promise, and so immaterial in light of their customer agreement.

    On Canadian brokers, I've tried Questtrade and CMC - every has capital protection. The Questrade interface is 1990's, FIFO, and also you do not get accurate pricing reflective of the market; they assert 5-digits, but the price does not variate just like a proper feed. And, there appears to be a form of rounding on standing value, as it does not update as fast as the spot price. CMC's platform is non-standard and overly awesome for me personally; both platforms hide their quantity, which stacks things against the retail trader - why you would like to use inferior tools is beyond me. Not sure of other options - I have pretty much given up, and am seeking to a professional ECN platform that has capital protection for larger accounts, out of Canada.

    However, after all my writing, if it is a couple thousand one is investing, providing smarttradefx a spin is minimal risk - ideally and obviously the goal is to profit, and, taking out the initial 25%/40% or 100% (of initial depost) is always a nice feeling, and, when fully successfully, at least your initial deposit is recovered. However, it's always important to make cogniscant that lots of things can go wrong and, that'll impact the dollars in your account.

  6. #26
    Beljevina,

    how do you judge execution speed and high quality of matches by using a demo account ?

    I just visited their upgraded site, they now have Euro denominated accounts.

    Oh btw, they ought to brush up on their English.

    It reads : Your deposit remains in Euro's, no need to convert to USD if your Europe

    That is two mistakes in one sentence, seems like some high school kid, lol.

  7. #27
    Only saw their commissions. . .holy shite.

  8. #28
    Quote Originally Posted by ;
    It reads : The deposit stays in Euro's, no need to convert to USD if your Europe

    That's two mistakes in 1 sentence, sounds like a high school kid, lol.
    Lol Yeah I always laugh at those bucketshops that don't even bother employ a professional translator. Just goes to show how professional they are.

    Quote Originally Posted by ;
    If they are an STP broker, how can they be a bucketshop?
    Almost all bucketshops are calling themselves STP br?kers these days.

    I believe you utilize them.

  9. #29
    Quote Originally Posted by ;
    ,

    how do you judge execution rate and quality of matches by using a demo account ?
    You are right. It is an indior and approximation of perhaps best-case scenario. The demonion should speak to the server as the dwell account, and one expects as they would with the live, they have dealer plugin or any bridge triggered produced delays. And typically no requotes and other delays on demonion (along with an assertion on their website of 'no requotes') ring well for live operation. Furthermore, if the demonion allows trading inside the disperse and SL the next pip percent awayif the live.

    If you examine enough MT4 demos, you do really get requotes, and overall slowness - if one can not make their presentation glow, then why would your dwell, though, as a possible customer, you appreciate the frankness, and hence, you never turn into a customer.

    But a fantastic demo doesn't alleviate the other issues of this broker.

    Separately, yes, their website is filled with grammar and spelling mistakes. For me, another red flag. But then again, Duakascopy's website has language errors.

  10. #30
    IM only using STFX and DUKA because these brokers are fair, trading requirements are precisely what traders dream about, and customer support is a phone call away.

    Never per requote.
    No disconnects
    Very Competitive spreads
    Gold, Silver, SP, along with also other Futures

    Metatrader actually functions like its suppose to. And, I thought it had been MT4.... lol

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