Quote from: melissacarter on February 03, 2022, 12:33:40 PM

Quote from: adaseb on February 01, 2022, 04:32:17 AM

No don’t use any of those brokers. You will never see your money ever again. They are known as bucket shop brokers and they don’t trade on the open markets. When you open a trade you are trading against them, and only way you make money is if they lose money. And they will use every excuse in their terms not to pay out.

Use a real broker like Binance or FTX. You are trading against other traders there and the exchange doesn’t care if you win or lose. They only get paid with their commissions.

Do you have experience with any of these brokers? They all are non dealing desk brokers which are considered best for the fact that they don’t manipulate your trades or don’t take counter position. Furthermore, they also charge their fees in spreads and commissions just like Binance and FTX.

Those brokers I never used but I used similar ones about 10 years ago when trading forex. When you take a trade, the trade is not routed to an actual exchange, you are trading against the broker and not exchange. So if you lose money then everything is great.

The issue is when you make a profit. They will freeze your account typically and say you violated some terms. The most common one these brokers use is saying that their feed was lagging and you knew prices ahead of time and took advantage. That’s a big no and they will close your account, forfeit the profits and you might get your deposit back if you are lucky.

Stay away from them.