do you live of Forex?

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FXreedom
58
FXreedom  

hello, 

 I am doing some modest results with forex trading but positive results after a lot of study and experimentation during almost one year. I think the key in this bussiness is not to have big results one month but to be consistent in your good results during a long period of time.

I have read in some others forums some brokers suddenly close your account if you are doing well with no reasons or using some silly arguments. is that exactly true?

I would like to hear some real experiences of people living exclusively of forex. I mean trading, not selling EAs or training or referring some other clients with brokers.

 you need to do a great effort to doing well trading in forex and I do not want to do this effort and then get frustrated because of my broker do not like the good results.

 Please be honest based on real experiences only

thanks and best retgards 

Alvin Lim
12
Alvin Lim  

Hi,


I do not see the case being true unless you are trading with a very small liquidity forex trading company. If you are an active trader in the market which trading somewhere 50-100 trades a month, the spread + commission is what they earn, average spread + commission for a single trade being around $10-16 dollar in and out.

Let's make an assumption here, $10 (standard lot) x 50 =$500 per customer, company like IG market or FXCM will generally have over 1000 active traders. Why won't they want you as a customer? I believe this is only applied to those smaller liquidity company that have trade desk which they tend to hold some amount of trade themselves, this do happens as online trading make it so easy.


Just be sure that you are trading with some big liquidity forex broker than anyone who offer fix spread/no commission, this is purely my own personal choice to ensure my money is in safe hand rather than but or so when I need to withdraw. Lots of smaller binary/forex liquidity are not regulate to certain countries, so they tend to be very pushy to get you sign up with them (Mostly from UK).

Michael Maggi
1909
Michael Maggi  
If you stick to well known regulated brokers you won't have a problem.  If you use some unregulated broker then you can have a problem. You can always Google brokers with XXX scam or XXX fraud and get all the negatives about a broker. Just beware that a lot of traders complain about brokers taking their money just because they lose money.  There are lots of complainers, but there are also lots of scammers out there.
FXreedom
58
FXreedom  

Dear Alvin and Michael

 thanks for your comments and adivices. They were very helpful

 kind regards,  

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