The future of the Forex industry - page 5

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Wizard2018:

In current realities - an "honest DC or broker", technically can only exist offshore.

Why? Have the statistics of profitable and unprofitable private traders changed? What prevents a DT from paying 30% of its revenue to 1 trader and taking the rest of the losses of a few thousand to itself? Ah yes greed.

Maybe you should go to the brokerage house and negotiate with them on good terms to save time for both yourself and the brokerage house. You may tell them openly that I have a grail, a lot of accounts opened in your brokerage house for friends and relatives and offer them a choice. Either $5 million immediately or 10 in installments over 2 years with fixed payments. Otherwise they will have to pay everything back until they go bankrupt. I do not envy the brokerage companies.

 
One can understand a higher tax on super profits when super corporations grow into the capitals of nations. But when I put my whole life to just live decently, to have enough to eat, what the fuck do I owe anyone. They just raised a privileged caste all over the world, who are well established and get money for nothing. They say that the West is supposedly so advanced, just look at the tax schemes, but it is a medieval society that lives off tribute. It's amazing that it still exists in this form. Because it's a proletarian society, they've never run any business themselves, they've just forgotten and go to work like robots. And they are parasitised on them.
 
If there was a fair and simple tax system. No one would even seek to evade it. I don't think people don't understand the need to contribute to a common cause. People avoid taxes precisely because the system is unfair and absurd in most countries.
 
Giorgio5:

Why?

Officiality costs are too high, all those licence-taxes etc. Paradoxically, licensing and being official makes brokers and DCs cheat. License has to be paid off, spreads and commissions do not pay for it. There are not many traders, there are millions only on the counters of the main pages of the brokerage sites for coolness. The unambiguous and unambiguous trend - the steeper the license and the more official, the worse the conditions. The lousiest conditions that I have met - were at forex from monster banks like VTB :)))

 
Wizard2018:

The lousiest terms I've come across are from monster banks like VTB :)))

But there is a good chance that the money can be withdrawn?

 

Wizard2018:

The lousiest terms I've come across are from monster banks like VTB :)))

By the way, you could withdraw decent sums from that bank. And they still do.

And if you mean the spread and its widening and the lack of loc and summing of positions, then it's even more comfortable. They don't need to be engaged in scalping. You may make 100-150 points in 1-2 bets in a week. And summing up the open positions is the best for me.

 
JRandomTrader:

But is it most likely that the money will be withdrawn?

Unfortunately, no. Having a licence does not increase any probability, apart from the likelihood that they will pick their pockets aggressively and in every possible and impossible way.

 

In any investment there is always the risk of losing money, but in offshore brokerage companies the risk is incomparably greater. It is one thing to play with a few hundred dollars or a couple of three thousand, another to work with hundreds of thousands or even millions. Here non-trading risks should be taken very seriously.

I have seen good conditions for such investments in Dukas. Segregated accounts in one of the 6 largest banks. But there were also restrictions, accounts from 100K and maximum leverage of 20. Trading conditions are acceptable, spread is one of the lowest. Don't know if they still have that.

 
Mykola Shevchenko:

In any investment there is always the risk of losing money, but in offshore brokerage companies the risk is incomparably greater. It is one thing to play with a few hundred dollars or a couple of three thousand, another to work with hundreds of thousands or even millions. Here non-trading risks should be taken very seriously.

I have seen good conditions for such investments in Dukas. Segregated accounts in one of the 6 largest banks. But there were also restrictions, accounts from 100K and maximum leverage of 20. Trading conditions are acceptable, spread is one of the lowest. Don't know if they still have that.

The regulators actually give nothing. Either the office works honestly or it doesn't. But you never know for sure. There are the little pranks of the broker, lazy to change unnecessarily. Make a diversification on 10 brokers, or on 20. And you won't have to think about it at all.

 
Mykola Shevchenko:

What is the future of Forex as we are used to seeing it.

Yesterday I decided to visit the site of one brokerage company with which I had a long-standing relationship, the site is not working, started googling, it turns out that it has been abandoned for a couple of years and disappeared with the balance of clients' funds. Then I decided to visit alp's site and looked at ratings of pams. Apart from Paymaster, with its 2 million, there are ALSO!!!! 7 accounts have investments of 100K, the rest have less. By comparison in 2015, the pams in the same alps with investments over 100K were making one wonder about the industry as a whole.

The reason is not entirely clear. It could be disappointment in pamm services and forex in general after a bunch of epic losses, maybe switching to crypto under the influence of general hype, or maybe the general financial crisis and instability.

It is not an easy topic, taking into account that in general practice there is no refunds, usually a dump happens in one day, and owners just disappear. And if we take into account the general dynamics of the industry decline, it may become massive. While the scams of different DCs used to happen for different reasons, now it may be due to a mass exodus of clients from the whole industry.

Maybe I made the wrong conclusions, it would be interesting to hear the opinion of other participants)

First of all you should work with reliable and trustworthy broker. For example my broker, for now, shows no such signs. For example, my broker does not show these features yet. The precursors of this situation in each brokerage company are different: disappearance of chats, phone calls, careless attitude to clients and many other things. Experienced traders know much more about these tricks. Against the general background of the inability to beat the market, I'm still surprised by the survivability of this system. The industry of "training" newbies is also powerful. I'm sure at least 90% of "experienced" traders make money doing this.

I have been searching for market regularities for more than 10 years, and only now I've apparently found a loophole for profitable and stable automatic trading. Time will tell.

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