“Kitchens” of the Forex market

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“Kitchens” of the Forex market

 

Choosing a reliable dealing center has always been a priority for each trader. After all, if a company can be trusted with its money, the process of cooperation will be calm and serene. Otherwise, the financier risks getting hit in the back and losing the deposit.

“Kitchens are dealing centers that work against a trader. Ideally, the company should bring the client’s money to the Forex market. Undoubtedly, not everybody does it. Some brokers work in a different way, overlapping positions in the internal pool. And a lot of people just act against the client

A pure “kitchen” is a financial structure that can destroy any trader and take away his trading deposit. How does this happen? “Magic” stop-loss transactions are closed, which is called “point to point”. After that, the market turns around and moves on. Graphs are “drawn” just like the dishonest dealing center needs. There may also be disconnections, various slippages and artificially created price breaks. In such companies there is a whole automated system, the activities of which are aimed at the withdrawal of money from normal traders

How do you know what your dealing center is? Often, such information is not disclosed. The client is attracted by beautiful speeches and expensive commercials. And only then, in the process of work, the trader understands what kind of company he had to cooperate with

Don’t trust the generous bonuses. Undoubtedly, sometimes even normal dealing centers offer small compensation for each deposit. However, if a trader sees a promise in an advertisement to accrue 50-200% bonus on one entered dollar, it should make a person think about it. It’s worth asking yourself a simple question: “Where does a dealing center get such a lot of money from? I mean, no one’s just throwing away their finances like that. Therefore, the bonus is the right litmus paper to expose the “kitchen”

Some traders think that after working on a demo account, they will get an excellent idea of the dealing center’s activities. That’s not true! It often happens that the demo account server works quickly and without interruptions of communication. But then, when a person makes a deposit and goes to a real-mani account, he faces constant problems: then during the release of important news for 10-15 minutes the connection disappears, then on the chart there are “spikes”, which do not exist in other dealing centers and even on the demo account. With these methods, the “kitchen” tries to do maximum financial harm to a person. A deposit can melt in a matter of days if you choose the wrong company to provide Forex market access services

Therefore, before choosing a dealing center, you should pay attention to every detail. Maximum concentration, as well as the study of feedback from existing clients will help the trader to make the right choice.

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