Forex Broker, Bucket Shop Deceptions - EzineArticles

What happend?

What happend?
Hi guys,
I've been trading for 4 years now and i have not witnessed what I'm seeing right now on my Metatrader 4. I'm watching GBPCHF as it creates the right shoulder for the inverted head & shoulders and I have a massive sell on as the market closed for the weekend. However; on every other broker this price is no where to be seen.
AxiTrader chart via Metatrader

Look at the attachments....can anyone explain this?
Oanda Chart via Tradingview
submitted by Snoo_37754 to Forex [link] [comments]


I want to start trading stocks and I'm looking for full service brokers, ICICI Direct vs HDFC Securities, which is better ? I don't have any experience with trading securities but I have been trading crypto currency (successfully) for about 6 months. Do both these banks offer 3in1 accounts ? which one is better. I would like to know about their trading platform and banks also. Please share your opinions and let me know if there is are better options available.
I also had some bad experience while trading forex, oprions and US CFDs with a popular foreign brokerage firm that turned out to be a bucket shop manipulating the trading platform and prices to make me lose money. So I don't care if I have to pay higher fees and charges but I want good reliable broker who offers good service and doesn't cheat - this is my first priority.
submitted by Plip_Plip_ to IndiaSpeaks [link] [comments]


I want to start trading stocks and I'm looking for full service brokers, ICICI Direct vs HDFC Securities, which is better ? I don't have any experience with trading securities but I have been trading crypto currency (successfully) for about 6 months. Do both these banks offer 3in1 accounts ? which one is better. I would like to know about their trading platform and banks also. Please share your opinions and let me know if there is are better options available.
I also had some bad experience while trading forex, oprions and US CFDs with a popular foreign brokerage firm that turned out to be a bucket shop manipulating the trading platform and prices to make me lose money. So I don't care if I have to pay higher fees and charges but I want good reliable broker who offers good service and doesn't cheat - this is my first priority.
submitted by Plip_Plip_ to india [link] [comments]

Broker advice needed

I use to trade on 1Broker but then they shutdown. 1Broker provided:
I am looking to use another broker and need some advice.
I looked at whaleclub and simplefx which are both bucket shops but I frequently see user complaints against them which makes me wary. There is also okcoin, bitmex, and bitfinex but they only offer cryptos.
I am thinking of using a USD denominated traditional broker now like Interactive Brokers. I assume I could get my required leverage through options trading. They offer plenty of products. However, I heard their API is subpar. And I am not sure if I need to get my data independently from them or not.
What are your thoughts?
submitted by SatoshiReport to algotrading [link] [comments]

Any Legit BTC Exchanges Accepting US Customers and Offering Decent Leverage?

I am looking all over the internet for a reputable bitcoin exchange accepting U.S. residents and offering ~10x leverage. I would like to day trade bitcoin like one would trade spot forex and make money off smaller fluctuations in price. I came across and liked the demo, but upon further research on reddit discovered it is a bucket shop and many people had a bad experience, having trades voided. I am open to a crypto exchange, or forex broker—so long as they meet said requirements. I am only trying to trade with a couple thousand dollars max—I do not have the kind of money necessary laying around to day trade BTC futures with Interactive Brokers or anything like that unfortunately. Perhaps what I am asking for is impossible at this point in time, but any suggestions would be greatly appreciated, including any workarounds. Thanks.
submitted by jleg094 to Bitcoin [link] [comments]

About the BITEX.ONE

About the BITEX.ONE
The use of cryptocurrency is spreading fast among business communities around the world. One niche with great potential for cryptocurrency use is the market of traditional tradable assets of foreign currencies, shares, bonds, interest rates and minerals.
As soon as the right regulations on blockchain are put in place, traders will be able to use cryptocurrencies such as bitcoin to trade assets. The doors will be wide open for institutional investors, international manufacturers and merchants to start using cryptocurrencies for transactions. Paying for delivered products with cryptocurrencies will greatly reduce transaction expenses since the system is fast, secure and free of additional fees. These qualities will enable buyers and sellers in these markets to guard against risk and save a little cash.
You can imagine the asset demand the use of cryptocurrency in the stock markets would create. The volume of speculation and hedging operations of traders will grow significantly. Combined with high-frequency robots and trading algorithms that help perform transactions faster and more accurately, the market volumes and the income of trading platforms is bound to skyrocket.
Market analysis
As per the Bank for International Settlements (BIS) over the counter derivatives were traded for a whopping $632.5 trillion in 2012. In the same year, traditional exchange markets garnered $52.5 trillion. When the two are compared, the former made 92% of the global derivative market while the latter only made 8%.
For comparison
According to WTO,
· Global commodity trade made: $18.255 trillion in 2011, $18.323 trillion in 2012,
· Service trade made: $4.2433 trillion in 2011 and $4.4232 trillion in 2012
These values are still way behind the derivative market trade volumes.
What are the challenges?
Delving into the asset markets with cryptocurrencies as a means of trade comes with a few challenges. For one, it is difficult for private persons with small investments to access these markets. And even if you were a big corporation, there is currently no opportunity to trade with exchange asset derivative instruments that are expressed in cryptocurrencies (Bitcoin, Ethereum, Litecoin.)
How Traditional Stock exchanges work
Trading is carried out with the use of fiat currencies and is performed through brokers. The brokers work for huge corporations hence the high expenses and large volumes of transactions. The volume of one trade at exchange markets with the real delivery of currency on the second working day could make up to about $5 million.
On the other hand, the cost of one conversion transaction makes from $60 to $300. On top of these costs, a trader could spend up to $6000 a month for interbank information and trading terminal. This is obviously not conducive for small-scale traders.
In order to curb the high costs of trade, two American stock exchanges, CBOE and CME introduced trade with futures for BTC at the end of 2017. The only problem is that they impose high requirements on the lot size. Another challenge is that futures at these stock exchanges are calculated and not delivered hence trade participants cannot actually buy BTC.
Curbstone brokers
Curbstone brokers or otherwise known as ‘bucket shops’ are forex brokers who offer clients small transactions without registering them with the interbank market. The brokers act as an opposite side in a transaction which means that the client's profit turns out to be the broker’s loss, and the client's loss - into broker's profit. This conflict of interest has resulted in brokers manipulating charts to make transactions of their clients unprofitable. Bucket shops do not publish reports on transactions, which makes activities of such brokers non-transparent.
Of late, many of them have begun offering trade with cryptocurrencies. It makes trading flexible but not ethical and trustworthy as it is with the traditional stock exchanges.
As a matter of fact, this lack of trust in curbstone brokership has led to their ban in some countries where they are considered fraudulent.
So what is the solution?
Cryptocurrencies have enabled ordinary people and investors to save and grow their money discreetly away from unfair control or seizure by state regulatory bodies. The use of cryptocurrency in the blockchain network is a powerful expression of freedom that should be spread across all trading platforms.
In this regard, we believe in the development of future exchange asset derivative instruments that make use of the available cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and other high-liquid cryptocurrencies.
This will make bull or bear traditional assets widely accessible to professionals and beginning traders. More importantly, there will be lower transaction fees about 0.05% when compared to spot exchanges (Bitfinex, Binance, Kraken, and Poloniex) that charge in the range of 0.1 to 2%.
BlTEX.ONE is one such innovative trading platform that allows for international trading with assets expressed in cryptocurrencies with a transparent transaction system for the customers. It also has anti-fraud prevention measures to guard against chart manipulations.
The platform allows traders to increase their Bitcoins by speculating on the changes in the price of accessible traditional exchange assets such as the dollar, the euro, gold, oil, beans, cocoa or share indexes.
Our greatest mission is to bring the usage of blockchain and cryptocurrencies into the trading arena. We believe that the creation and functioning of the BITEX.ONE platform for trading with futures on traditional assets would achieve this.
The growing popularity of cryptocurrencies in many developing countries will soon provide them with a legitimate status through effective legislation. When this plane takes off, we want to be ready with an elaborate platform for institutional investors to use cryptocurrencies as investment instruments. Working with futures on traditional assets will create an opportunity for investors to make substantial profit for their customers.
submitted by Bitex1 to u/Bitex1 [link] [comments]

Worrying ICOs of Spot Option and IQ Option WARNING

Hi I am glad icocrypto exists because as a crypto trader and a big enthusiast I want to do my part to keep this space clean. I have been observing a worrying trend that I wanted to share my opinion on and alert fellow investors and traders on giving real hard facts that could save us all, collectively, a lot of money and emotional pain. There are some major fraudsters, conmen and scam artists that are soon looking to ICO and not 1 dollar of the crypto currency communities money should be given to them ESPECIALLY after the STOX ICO which later was exposed as a scam. Read here for those who missed it:
Around 9 months ago I lost a friend. He was around my age and also a consultant to one of my fledgeling businesses in the Quebec region. At first I thought it was some hoax or prank but he had mentioned to me about some personal problems he was going through during our working relationship. Little did I know the situation was far darker and serious than he had led on, otherwise I would have helped. I am talking about Fred Turbide who killed himself in his garage leaving behind a sad and bankrupt family. He was lied to and cheated out of his live savings by an Israeli binary options company called 23Traders. You can read the whole story here none of this is made up
Based on my research 23Traders is a brand of Spot Option, an Israeli company that owns 70 percent of the binary option trading market. The founders of this company known as Pini Peter and Oren Shabat and some guy called Semi Vahap, have been indicted for fraud/money laundering and their subsidiary brands like Banc De Binary (one of the biggest binary option scams that was ejected from USA and shut down). You can read about this in their OWN WIKIPEDIA page:
For those who were taken in by the STOX ICO scam where they swindled around 30 million dollars from crypto investors, you will never see any return on that share again. STOX as the reddit thread i have posted above proves, is basically the same team of ANY OPTION another SPOT OPTION brokerage. ANY OPTION has scammed thousands of clients, been fined repeatedly and was "bought out" yeah right. They rebranded to and ICO'd a company that has no real traffic, lying about their figures.
Having dabbled in binary options before, I knew it was a fun way to trade where one could make a lot of money but after my broker IQ option (I will talk a little bit more about them later in this post because they are planning to ICO!) decided to lock me out and deny me my wins, that is where i knew I was dealing with a sinister set of people. To my dismay, since I hang out at Forex Peace Army which helps keeps traders like me alert for new scams, I found out that these Isreali binary scam brokers are now looking to ICO so they can pull off a giant scam only this time with THE PUBLIC'S MONEY!.
Spot Option is the first one that is looking to ICO and then I found out today that IQ Option, the company that stole my deposit and regularly stops traders from being awarded their RIGHTFUL gains and wins, is also looking to do an ICO.
Here is the truth about IQ Option: They pay hundreds of people including their employees to write good reviews including affiliates who write fake 5 star reviews. The truth however is very dark you can read it here
and most importantly, Forex Peace Army which actively hunts down these bucket shops paints a very different reality. You will see in this post that there are hundreds of threads of customer complaints of outright denial of withdrawals, manipulation of price data and even threats issued by this company to clients: Only the problem is you don't find these reviews on page 1 or 2 of google so easily so many people get duped. If you know where to look, you can easily find them and the truth emerges.
Before Spot Option and IQ option type of brokers entered binary options actually it was fun and fair and regulated brokers existed but these firms completely destroyed everything by greed and praying upon the hope of the desperate. Do not fuel their intentions or fall prey to their lies. I have so much evidence if any one has questions I will post more.
Please DO NOT give these scammers any money, they have already swindled millions from poor people around the world and now want to use the "lack of information" in the crypto currency about what really went on in the binary options space to create scarcity value and try and hype up their scam. Please post here your responses. I am not promoting anything here I just don't want these leeches to steal any more money.
submitted by danpirrung to icocrypto [link] [comments]

Looking For Help!

Hello reddit forex community. I have been trading with for about 4 months now. I have been trading binary for about 2-3 months off and on (This was a year ago). Over this time period I have accumulated some questions that the Google could not answer (Due to all the advertisements and bucket shops, and me being lazy to dig further).
  1. How long did it take you guys to make a profit in trading? What was your experience and how did you do it? ( not asking for strategies, I am asking for steps, mentality, and what you did to get where you are.)
  2. Over that past few months, I feel like trading is alot of gambling; Is that because I am new at it? Do professional traders feel the same way?
  3. I am currently using but recently I have set a stop loss, and the market moved so quickly that I loss a good amount of money, which questions my future with this broker. What brokers/platform do you guys use? What platform or way of trading do the big guys (people moving a ton of money) use? Do they use the same platforms as us commoners?
  4. Last question I currently have, Would you say trading experience and learning how to trade plateau over time? If someone were to spend 5 years of screen time without help from others, would he be able to turn a profit (given that he had the money and sustainability to just sit in front of charts all day)?
This is my first post ever, I wanna thank everyone who has the time to answer in advance. Thank you.
submitted by DemiGocl to Forex [link] [comments]

Top brokers accessible to Canadians?

Hey all, I'm looking for a forex broker that offers moderately high leverage that is accessible to Canadians. I was looking at instaforex but they seem like too much of a bucket shop for my liking. Any suggestions are appreciated.
submitted by Adog353 to Forex [link] [comments]

AwarenessForex - YouTube Omid Rashid Scandal Options XO Why trading stock market over cryptocurrency and forex Markets World Binary Options - 60 Second Options? Forex Fraud Exposed: Bucket Shop Mentality and Unfair Order Execution (2 of 2)

As Forex is a global interbank market, the definition of what makes a brokerage a Bucket Shop is slightly different. For instance there are many legitimate brokerages operating as Market Makers who don’t necessarily place all client trades with a liquidity provider. These genuine Market Makers do however take certain measures to limit their own risk whether this is through the hedging of ... We have already learned about how to choose the best forex broker and there we have discussed about checking the authenticity and reliability of the broker. Forex Bucket Shop is the negative face of such an unreliable broker. In this article, we will discuss what are forex bucket shops? In those cases, there is no real brokerage; the customer is betting against the broker, who is acting as a bucket shop. Manipulation of price data to cause customers to lose is common. Withdrawals are regularly stalled or refused by such operations; if a client has good reason to expect payment, the operator will simply stop taking their phone calls. Though binary options sometimes trade on a ... ‘Bucket shop’ is an American pejorative expression describing: "an establishment, supposedly for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally ... A bucket shop is a brokerage firm that engages in unethical business practices. Historically, they would facilitate gambling on stock prices, often encouraging their clients to use dangerous ... Bucket shop transactions were seldom actually executed on any exchange, but if the bucket shop operator did act as a broker and place the customer’s order on an exchange, he would at the same time place the opposite order for his own account, therefore taking no risk. A Little History. The reason to mention the historical context of bucket shops is that they have a long and colorful history ... My views on Forex Bucket Shops A bucket shop broker is just a glorified bookmaker. In the old days a bucket shop was your local downtown stock broker... nothing more than a seedy betting shop. All a trader did was walk into a bucket shop and bet on fluctuations in stock prices as they were printed out on a ticker tape. It was extremely profitable for the Broker (bucket shop) Even if they ... Most forex brokers profit off client losses, hence making it a losing game for many new traders. Solutions lie in ECNs and exchange rate options. Without putting the orders out into the free market, the client is actually betting against the forex bucket shop operators who are also known as bucketeers. These old school bucketeers did not usually disclose the real price of the asset that their client is trading, which means that they could tell the client that the price moved or didn’t move–whatever was in favor of the broker! But ... Each bucket shop was an internal market, trading on quotes from Wall Street but not on Wall Street itself. This is basically exactly how forex operates today. Accounts can be opened with as little as $250, trades are quickly entered (except when it's to the trader's advantage) and each broker is an internal market (market maker)

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AwarenessForex - YouTube

AwarenessForex uploaded, posted and added to Forex Scams Exposed: Insane slippage, unfair order execution, and the bucket shop mindset 3 years ago An exposé on how MM brokers can manipulate ... 01:14 Industry insider exposes bucket shop mindset email screenshot 02:05 VD plugin explanation 02:48 never seen delays over 2 seconds with most other brokers 03:33 screenshot of XeMarkets ... Watch how Omid Rashid, an average Joe, was scammed by a bucket-shop financial trading broker. They took his life savings in the process. SPECTRE's blockchain based, decentralised trading ... Here are my note typed out in the video about the new global stock market view Forex - bucket shop brokers are corrupt Crypto - steep bear market 24000 USA s... HOW TO CHOOSE THE BEST FOREX BROKER / TRADING ACCOUNT (Mr. Broker) - Duration: 14:08. ... Forex Fraud Exposed: Bucket Shop Mentality and Unfair Order Execution (2 of 2) - Duration: 7:31 ... Many binary option "brokers" have been exposed as questionable operations. In those cases, there is no real brokerage; the customer is betting against the broker, who is acting as a bucket shop ... Videos that prove conclusively that some brokers may not actually be brokers at all, but a "bucket shop wearing an a-book suit" or even worse running a ponzi.