Comments on: FXCBS Broker Review http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/ Sat, 04 Feb 2012 07:10:30 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Raven Forex Blog » Things Did Not Go As Well As I Had hoped http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-53 Raven Forex Blog » Things Did Not Go As Well As I Had hoped Mon, 13 Apr 2009 10:38:09 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-53 [...] is a good review of them here - http://www.fapturboexpertguide.com/blog/fxcbs-broker-is-this-a-joke/ this guy (Rob) has a nice site that has some very interesting articles about some of the newer [...]<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('53','Raven Forex Blog » Things Did Not Go As Well As I Had hoped'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('53','Raven Forex Blog » Things Did Not Go As Well As I Had hoped','&#91;...&#93; is a good review of them here - http:\/\/www.fapturboexpertguide.com\/blog\/fxcbs-broker-is-this-a-joke\/ this guy (Rob) has a nice site that has some very interesting articles about some of the newer &#91;...&#93;'); return false;">Quote</a></div> [...] is a good review of them here - http://www.fapturboexpertguide.com/blog/fxcbs-broker-is-this-a-joke/ this guy (Rob) has a nice site that has some very interesting articles about some of the newer [...]
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]]> By: Rob Casey http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-50 Rob Casey Sun, 12 Apr 2009 21:11:45 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-50 Hi Seer, Thanks for the tip, but to be honest I could care less about the $4 rebate on a standard lot is the broker isn't performing well for me. And FXCM is not a broker that rates high on my list. Certainly there are worse brokers so they're no where near the bottom and some people do like them. The example the guy give about trading a FAP Turbo account with $370 and getting something like $600 back in two months of trading is not all that realistic unless you want to go broke. For some reason examples always seem to get blow out of realistic proportion because if they use realistic numbers then it's not so spectacular. For instance, his example sounds great ... in the example he has a $370 account which from the beginning of November to Jan 8th he suggests with FAP Turbo made 90 standard lots of trading. Given that FAP Turbo trades only 4 days a week (Fridays are not very safe for scalping) that's at most 40 days of trading, or 2.25 standard lots per trading day on only a $370 account. That is not ever going to happen without completely losing all your money due to over trading. Don't get me wrong, I'm always in favor of a little cash back on my trades, but when you put in realistic numbers the cash back becomes much smaller and can easily become insignificant if the broker doesn't perform well with spreads, requotes etc ... cheers, Robb<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('50','Rob Casey'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('50','Rob Casey','Hi Seer, \r\n\r\nThanks for the tip, but to be honest I could care less about the $4 rebate on a standard lot is the broker isn\'t performing well for me. And FXCM is not a broker that rates high on my list. Certainly there are worse brokers so they\'re no where near the bottom and some people do like them.\r\n\r\nThe example the guy give about trading a FAP Turbo account with $370 and getting something like $600 back in two months of trading is not all that realistic unless you want to go broke.\r\n\r\nFor some reason examples always seem to get blow out of realistic proportion because if they use realistic numbers then it\'s not so spectacular. For instance, his example sounds great ... in the example he has a $370 account which from the beginning of November to Jan 8th he suggests with FAP Turbo made 90 standard lots of trading. Given that FAP Turbo trades only 4 days a week (Fridays are not very safe for scalping) that\'s at most 40 days of trading, or 2.25 standard lots per trading day on only a $370 account. That is not ever going to happen without completely losing all your money due to over trading.\r\n\r\nDon\'t get me wrong, I\'m always in favor of a little cash back on my trades, but when you put in realistic numbers the cash back becomes much smaller and can easily become insignificant if the broker doesn\'t perform well with spreads, requotes etc ...\r\n\r\ncheers,\r\nRobb'); return false;">Quote</a></div> Hi Seer,

Thanks for the tip, but to be honest I could care less about the $4 rebate on a standard lot is the broker isn’t performing well for me. And FXCM is not a broker that rates high on my list. Certainly there are worse brokers so they’re no where near the bottom and some people do like them.

The example the guy give about trading a FAP Turbo account with $370 and getting something like $600 back in two months of trading is not all that realistic unless you want to go broke.

For some reason examples always seem to get blow out of realistic proportion because if they use realistic numbers then it’s not so spectacular. For instance, his example sounds great … in the example he has a $370 account which from the beginning of November to Jan 8th he suggests with FAP Turbo made 90 standard lots of trading. Given that FAP Turbo trades only 4 days a week (Fridays are not very safe for scalping) that’s at most 40 days of trading, or 2.25 standard lots per trading day on only a $370 account. That is not ever going to happen without completely losing all your money due to over trading.

Don’t get me wrong, I’m always in favor of a little cash back on my trades, but when you put in realistic numbers the cash back becomes much smaller and can easily become insignificant if the broker doesn’t perform well with spreads, requotes etc …

cheers,
Robb

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]]> By: Seer http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-48 Seer Sat, 11 Apr 2009 20:28:25 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-48 Seer Says: If $2000 is a little much for you and you want to use fxcd you can go to (http://www.asamonitor.com/forum/index.php?s=e57415639c47dba9abed77a0367a8f34&showtopic=14070&pid=252942&st=0&#entry252942) There are instructions there on how to open with $1000 and get $4.oo back with every 1 e/usd lot traded. (1 lot is $100,000 - so you need to have 10 mini trades. But who cares? You will be trading anyway so you may as well get the rebate. There are rebates on a couple of other currencies to, go to the site and have a look. I have started using fxcm and will post my experiences on my site/blog At www.ravenforex.com.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('48','Seer'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('48','Seer','Seer Says:\r\n\r\nIf $2000 is a little much for you and you want to use fxcd you can go to (http:\/\/www.asamonitor.com\/forum\/index.php?s=e57415639c47dba9abed77a0367a8f34&amp;showtopic=14070&amp;pid=252942&amp;st=0&amp;#entry252942) There are instructions there on how to open with $1000 and get $4.oo back with every 1 e\/usd lot traded. (1 lot is $100,000 - so you need to have 10 mini trades.\r\nBut who cares? You will be trading anyway so you may as well get the rebate.\r\nThere are rebates on a couple of other currencies to, go to the site and have a look.\r\nI have started using fxcm and will post my experiences on my site\/blog At www.ravenforex.com.'); return false;">Quote</a></div> Seer Says:

If $2000 is a little much for you and you want to use fxcd you can go to (http://www.asamonitor.com/forum/index.php?s=e57415639c47dba9abed77a0367a8f34&showtopic=14070&pid=252942&st=0&#entry252942) There are instructions there on how to open with $1000 and get $4.oo back with every 1 e/usd lot traded. (1 lot is $100,000 - so you need to have 10 mini trades.
But who cares? You will be trading anyway so you may as well get the rebate.
There are rebates on a couple of other currencies to, go to the site and have a look.
I have started using fxcm and will post my experiences on my site/blog At http://www.ravenforex.com.

Reply - http://www.ravenforex.com.’); return false;”>Quote
]]> By: Rob Casey http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-43 Rob Casey Thu, 09 Apr 2009 07:17:14 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-43 Hi Dave, To be an IB for most reputable brokers, or a broker, you'd need to get your CTA registration. http://www.nfa.futures.org/registration/cta.asp Basically a US company in good standing as well as you'd need to pass some CFTC exams. How hard it is depends on your background and experience. cheers, Rob<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('43','Rob Casey'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('43','Rob Casey','Hi Dave,\r\n\r\nTo be an IB for most reputable brokers, or a broker, you\'d need to get your CTA registration.\r\n\r\nhttp:\/\/www.nfa.futures.org\/registration\/cta.asp\r\n\r\nBasically a US company in good standing as well as you\'d need to pass some CFTC exams.\r\n\r\nHow hard it is depends on your background and experience. \r\n\r\ncheers,\r\nRob'); return false;">Quote</a></div> Hi Dave,

To be an IB for most reputable brokers, or a broker, you’d need to get your CTA registration.

http://www.nfa.futures.org/registration/cta.asp

Basically a US company in good standing as well as you’d need to pass some CFTC exams.

How hard it is depends on your background and experience.

cheers,
Rob

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]]> By: HiDAVE http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-41 HiDAVE Thu, 09 Apr 2009 06:00:21 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-41 Hi Rob, how hard do you think it would be to become an IB or even a broker yourself? Do you know of any good references for doing so? Cheers Dave<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('41','HiDAVE'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('41','HiDAVE','Hi Rob, how hard do you think it would be to become an IB or even a broker yourself?\r\nDo you know of any good references for doing so?\r\n\r\nCheers\r\nDave'); return false;">Quote</a></div> Hi Rob, how hard do you think it would be to become an IB or even a broker yourself?
Do you know of any good references for doing so?

Cheers
Dave

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]]> By: FXDD Emailed That My Account is Closed « The Raven Seer’s Forex Blog http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-39 FXDD Emailed That My Account is Closed « The Raven Seer’s Forex Blog Thu, 09 Apr 2009 04:31:24 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-39 [...] is a good review of them here - http://www.fapturboexpertguide.com/blog/fxcbs-broker-is-this-a-joke/ this guy (Rob) has a nice site that has some very interesting articles about some of the newer [...]<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('39','FXDD Emailed That My Account is Closed &laquo; The Raven Seer&#8217;s Forex Blog'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('39','FXDD Emailed That My Account is Closed &laquo; The Raven Seer&#8217;s Forex Blog','&#91;...&#93; is a good review of them here - http:\/\/www.fapturboexpertguide.com\/blog\/fxcbs-broker-is-this-a-joke\/ this guy (Rob) has a nice site that has some very interesting articles about some of the newer &#91;...&#93;'); return false;">Quote</a></div> [...] is a good review of them here - http://www.fapturboexpertguide.com/blog/fxcbs-broker-is-this-a-joke/ this guy (Rob) has a nice site that has some very interesting articles about some of the newer [...]
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]]> By: Rob Casey http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-38 Rob Casey Wed, 08 Apr 2009 17:34:21 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-38 Seer, Welcome to the site and thanks for the comments. Getting NFA regulated as a broker is not particularly difficult to do. In fact I've considered doing it myself just so I could become an introducing broker for some of the better brokers out there. But I'm too busy to take the exams and do all the paper work at the moment. I'm always trying to just give an honest opinion of what I see. That's one of the reasons I'm not all over this new Forex MegaDroid thing. Not because I think it sucks, but because it's just too early to know for sure as I discussed in my post on the issue <a href="http://www.fapturboexpertguide.com/blog/is-forex-megadroid-the-real-deal/" rel="nofollow">"Is Forex MegaDroid the Real Deal?"</a>. Like you though, I am testing it, but with my eyes wide open. Cheers and good luck. Rob<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('38','Rob Casey'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('38','Rob Casey','Seer,\r\n\r\nWelcome to the site and thanks for the comments. Getting NFA regulated as a broker is not particularly difficult to do. In fact I\'ve considered doing it myself just so I could become an introducing broker for some of the better brokers out there. But I\'m too busy to take the exams and do all the paper work at the moment.\r\n\r\nI\'m always trying to just give an honest opinion of what I see. That\'s one of the reasons I\'m not all over this new Forex MegaDroid thing. Not because I think it sucks, but because it\'s just too early to know for sure as I discussed in my post on the issue <a href=\"http:\/\/www.fapturboexpertguide.com\/blog\/is-forex-megadroid-the-real-deal\/\" rel=\"nofollow\">\"Is Forex MegaDroid the Real Deal?\"<\/a>.\r\n\r\nLike you though, I am testing it, but with my eyes wide open.\r\n\r\nCheers and good luck.\r\nRob'); return false;">Quote</a></div> Seer,

Welcome to the site and thanks for the comments. Getting NFA regulated as a broker is not particularly difficult to do. In fact I’ve considered doing it myself just so I could become an introducing broker for some of the better brokers out there. But I’m too busy to take the exams and do all the paper work at the moment.

I’m always trying to just give an honest opinion of what I see. That’s one of the reasons I’m not all over this new Forex MegaDroid thing. Not because I think it sucks, but because it’s just too early to know for sure as I discussed in my post on the issue “Is Forex MegaDroid the Real Deal?”.

Like you though, I am testing it, but with my eyes wide open.

Cheers and good luck.
Rob

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]]> By: Seer http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-36 Seer Wed, 08 Apr 2009 15:34:13 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-36 Nice review of FXCbull shit. I was looking at open account with them a couple days ago and came to the same conclusion as you. I had been using FXDD but spreads were too big and I wasn't getting any action. I close my account with them yesterday April 7, 2009. And have decided to open a new account at FXCM. I've dealt with them before and I know where they live. I didn't have an account that used the meta-trader program, but this time I will be using it. I intend to set up and the FX droid and test it on a real account live. Keep up the good work. Regards; Seer Raven<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('36','Seer'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('36','Seer','Nice review of FXCbull shit. I was looking at open account with them a couple days ago and came to the same conclusion as you.\r\nI had been using FXDD but spreads were too big and I wasn\'t getting any action. I close my account with them yesterday April 7, 2009. And have decided to open a new account at FXCM.\r\n\r\nI\'ve dealt with them before and I know where they live. I didn\'t have an account that used the meta-trader program, but this time I will be using it. I intend to set up and the FX droid and test it on a real account live.\r\n\r\nKeep up the good work.\r\nRegards; Seer Raven'); return false;">Quote</a></div> Nice review of FXCbull shit. I was looking at open account with them a couple days ago and came to the same conclusion as you.
I had been using FXDD but spreads were too big and I wasn’t getting any action. I close my account with them yesterday April 7, 2009. And have decided to open a new account at FXCM.

I’ve dealt with them before and I know where they live. I didn’t have an account that used the meta-trader program, but this time I will be using it. I intend to set up and the FX droid and test it on a real account live.

Keep up the good work.
Regards; Seer Raven

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]]> By: Rob Casey http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-21 Rob Casey Sat, 04 Apr 2009 22:00:10 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-21 Thanks for stopping by and thanks for the comment. Hope to see you around often ;) cheers, Rob<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('21','Rob Casey'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('21','Rob Casey','Thanks for stopping by and thanks for the comment. Hope to see you around often ;)\n\ncheers,\nRob'); return false;">Quote</a></div> Thanks for stopping by and thanks for the comment. Hope to see you around often ;)
cheers,
Rob
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]]> By: GroolaTak http://www.fapturboexpertguide.com/blog/fxcbs-broker-review/comment-page-1/#comment-20 GroolaTak Sat, 04 Apr 2009 07:47:26 +0000 http://www.fapturboexpertguide.com/blog/?p=291#comment-20 Great site this www.fapturboexpertguide.com and I am really pleased to see you have what I am actually looking for here and this this post is exactly what I am interested in. I shall be pleased to become a regular visitor :)<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('20','GroolaTak'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('20','GroolaTak','Great site this www.fapturboexpertguide.com and I am really pleased to see you have what I am actually looking for here and this this post is exactly what I am interested in. I shall be pleased to become a regular visitor :)'); return false;">Quote</a></div> Great site this http://www.fapturboexpertguide.com and I am really pleased to see you have what I am actually looking for here and this this post is exactly what I am interested in. I shall be pleased to become a regular visitor :)
Reply - http://www.fapturboexpertguide.com and I am really pleased to see you have what I am actually looking for here and this this post is exactly what I am interested in. I shall be pleased to become a regular visitor :)’); return false;”>Quote
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