In FOREX Market: Scalping is ethical or unethical. www.gcitrading.com sucks for sure.?

Question

Im with GCI from past year, and since i had major losses i changed my trading pattern to have small profits (2-5 pips) and small losses of upto 10pips. Recently under good volatile market condition i started making good money. I achieved my daily target but still i kept on making. After three days later i have experienced that my account got short by 3910$. I spoke to GCI guys and come to know that i have been found of doing scalping and hence they have reversed my those both days transaction. and make my account less by 3910$ as i was scalping with there feed ad not trading.

My question is why they havent done before as i am doing this trading pattern what they call scalping from past 6 months. So why now????

Why they havent done when i went in losses, and they could have reveresed my transaction and compensated me?

Does this reversing the trade is actually possible ?????? That you can turn your three days back trades????

Somebody pls advise and help me that why they have

Answer 1

I can tell you the following;

This broker is "up there" with high spreads.

This broker appears to have a "dealing desk"... Which means they lose money on news trades, scalping and other short term transactions.

They appear to have a policy of "no scalping" (many do). What doesn't seem right is the fact that your loses are "OK", but not your winnings.

This is a very highly "unregulated" industry. But they do fear "regulation". I would put together my case & speak to a manager....... You must tell them in no uncertain terms that this action is unacceptable & not consitant. It appears that those that scream the most get their money back (it is possible)....................

There are no good FX brokers. Only ones less bad than others.

I prefer a non-dealing desk broker. But they too can be very dangerous.

This is one of the hardest industries to work with. 90% of the people that try FX lose all the money in their accounts.

Know what you're doing before you learn more "surprise" lessons..............

Answer 2

Hi,

Actually if the broker is honest then it doesn't matter what trading style you are using because they earn from the spread. But if the broker is dishonest and plays against its clients then he could do anything that you would lose your money. So better find other broker that is honest and allows the scalping.

If you want honest broker name contact me by pm or e-mail and I give you the name of broker who allows scalping.

Good luck!