A forex broker’s agent demands an apology from us - open forex trading demo account

A forex broker’s agent demands an apology from us ~ open forex trading demo account

From most of our articles you may have concluded that riling forex brokers is our job. We are not sending you a cheque on that lucky guess. Yes, in the virtual sphere of forex we are the society’s gatekeepers. We represent the disgruntled service users. But make no mistake to dismiss our writings as the usual drivel from a forex sour loser crying out for attention. Our words are hitting hard and have now caught someone else’s attention; someone that I won’t mention because he asked me not to.

I received an email requesting me to stop ‘our’ generalization- that it is not good for business. In our series on forex brokerage chicanery, the email sender says we

have made a mistake- we’ve concluded that the working description of all forex brokers is dishonesty. He wants me to conclude every piece of that series by acknowledging that honest forex brokers are still easy to find. I promised him that we will do that. But we are not engaged in providing friendly reviews about forex brokers. We are not rent seekers. We do not self-host our blog and are not losing a single night’s sleep on how to pay the hosting service for the next month.

The sender of the email asked that we make a clarification that not all forex brokers are bad which we hereby do.

At all times in his dealings with a forex trader whether beginner or pro, a forex broker has to wear two hats. It is a business so we are not surprised that this should be the order of the day. The first hat signals what the forex broker wants to gain from every trader. The second hat signals the services that the forex broker is ready to offer to all traders using his trading station so that they too can benefit. We appreciate that it is a business and that spreads and roll over costs must be charged. So we have no axe to grind with forex brokers for charging spreads or roll over costs. We are not asking for the removal of that hat. But be certain that we will expose you if your charges are unreasonable.

We appreciate that there is competition between forex brokers on who attracts the most number of traders into their fold. This begs for marketing techniques through ads and offering promotions such as forex bonuses. We don’t oppose bonuses. Neither do we oppose ads. But we oppose the habit of stretching the truth about forex to fit a forex broker’s selfish ends. This includes but is not limited to promising thousands of pips based on the use of ‘your’ exceptional forex market indicators or trapping forex traders by means of bonuses that lead unsuspecting forex traders to unknowingly open accounts with you. We oppose charging a forex trader a higher spread contrary to what the broker’s website indicates.

We believe that a forex broker should not own up to all the wrong things that happen especially to a forex beginner. But we oppose the habit of dismissing every forex beginner as a single trader whenever an issue arises with their account or trading software. A forex broker should be on call throughout the time a trader has an open position. We oppose brokers who are laid back to the needs of their clients especially when it comes to closing an account or withdrawing the forex profits. We oppose forex brokers who are only friendly before a forex trader opens an account with them. Ones they receive a forex trader’s money they mutate into devils.

In conclusion, we do not oppose the trading of forex or a particular forex broker. We oppose the selfish brokers who are working to the detriment of their fellow brokers and the system of trading forex online. We believe that the only mechanism to tame and weed them out is by talking. For fear of legal reprisals we rarely give names. Pushed to the wall, we may just do the unimaginable. But from the little descriptions we give, forex beginners are made aware of the reality that some forex brokers are actual cons.
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