Over the years I have heard so many traders talk about how brokers are out to get their broker is out to get them. They complain about stops being to wide, platforms freezing, and being stopped out when they feel that they shouldn’t have been. These traders then flood message boards and begin to go on and on about how broker xyz ripped them off and are crooks and so on and so forth. While I can certainly see the appeal of blaming an unscrupulous broker for your trading losses the truth is that the vast majority of those accusations are completely unfounded. Why is that you ask? Well it’s simple really. It’s because your broker wants you to make money.
Guest post from visionsofaffluence.com
Your broker makes money every time you open a trade and pay the spread. That is the business of a forex broker, they make money when you trade. What that means is that the more successful you are as a trader the more money your broker is going to make because successful traders trader more than those that fail and give up. So the goal of a broker is to have as many happy and successful traders as they can for as long as they can have them. So knowing this does it really make sense that a broker would purposely try to make their traders lose? No it doesn’t, because a broker will make way more money by helping their traders to succeed than they could ever make by cheating them.
So if it doesn’t make sense for brokers to cheat traders then where does this idea of crooked brokers come from? It comes from traders that make poor decisions, lose, and then want to find someone to blame for their problems. Instead taking responsibility for what happened they would rather blame it on their brokers, and while that may help your ego it will do nothing for your trading account. Now I know there are unscrupulous brokers out there, but with all the quality brokers out there if you open an account with a shady broker without doing proper research then you deserve whatever you get.
Now I know many people aren’t going to like what I have written here, but I’m okay with that. The reason being that people always get angry when you tell them what they don’t want to hear and many times the things they don’t want you to say is exactly the thing they need to hear.
Remember brokers are not the enemy, in fact that are heavily invested in your success because the better you do the more money they make, and in business as in trading it’s always about the money.
Jason
If you want to discover what it takes to be able to trade for a living. Then visit visionsofaffluence.com
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