About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

7 Comments

  1. FX Compass on

    Good post.

    I only use my broker for execution and do my analysis and monitor price with another service. This way, you are sure to know it went strange things happen!

  2. Jack McMillan on

    One must indeed be careful in choosing brokers. I used to trade through a “dealing desk” broker until I learned that ALL DD brokers take the opposite side of their clients’ trades. So they and you (as the client) inherently have a conflict of interest. Today, I trade through an
    STP (straight-through processing) broker. They do charge a 1/2 pip commission but don’t have a dealing desk and don’t take the opposite side of my trades – they pass trades directly to their liquidity providers. I highly recommend all traders go to an STP or ECN broker.

  3. i’ve heard of this happening with a particular broker, hitting stop loss when there were no spikes on other platforms… but so far i havent seen any prof…

    maybe we can start publishing the names of these brokers?

  4. Thanks for all your comments! I had this trouble a few years ago with a small broker. I don’t know of any big names that do it, but no one is perfect…

  5. No broker cares about your money the way you do. You are just a profit center to them, like a hundred others. You lose, you leave, too bad, there are a million other suckers out there.

    No doctor cares about your health the way you do. You die, too bad, etc.

    Do your own homework, or be at the mercy of “experts.”

  6. ELois Poole-Clayton on

    My pet peave is, once these individuals are foind out to be the crooks they are, WHY, haven’t the the government ALREADY prepared a resolution, for such behavior?
    A law, by real lobbist, should be in play, for such individuals!
    This is really greed and/but DUMB business practices, for as the saying goes, “the customer is always right”.
    With that, it makes common sense, to think, as long as a customer is respected and see that his/her broker is worker FOR him/her and NOT against him/her, they will be honored to continue to do business with them.
    No one, in their right mind, wants to do business with someone whom they KNOW, is stealing from them, but a fool and as hard as times are today, there are even LESS “fools”, in the world today!
    GREED, is NOT being prosecuted as it should, for these people feel that if they get caught, they will just pay a bail bond, and restitution and the rest of the monies that they have stolen, is scott free!
    This is why the LAWS needs to be UPDATED, UPDATED, UPDATED!