Do You Still Lose?
Forexoma Will Become a Brokerage and Money Manager
We have decided to offer forex brokerage and also money management service on Forexoma. In addition to forex, our clients will be able to trade CFDs, including commodities and futures.Why forex traders should open an account with Forexoma? What will we have to offer more than our competitors?
1. Most brokers have a dealing desk. It means, they manipulate the prices and in fact traders buy and sell to the broker, not to the forex market. So in many cases, traders lose to the broker, not to the forex market. I am not saying that all brokers who have a dealing desk, steal from their clients, but unfortunately many of them do. Forexoma brokerage will have a straight through processing model, which means that the traders do not buy or sell to the Forexoma brokerage, but their orders get routed straight to the liquidity providers. This is the first and the most important reason for the traders to open an account with Forexoma. What this means is that Forexoma brokerage does not profit from trader’s losing trades. In fact, we want all Forexoma traders to win. This is how our model is built.
2. Is having a dealing desk the only way that brokers can steal from their clients? No.
There are many brokers who have no dealing desk, but sometimes they steal more than the brokers who have a dealing desk. How? They change the spread. To know more about this, I recommend you to read an article that I published more than one year ago here. Some brokers use some special robots to control the spread for different traders. To close a short position, you have to buy and when you buy, you pay the spread. So the stop loss of a short position is a buy order. Some brokers help the stop loss orders to be triggered by increasing the spread. For example when your short position is 10 pips below the stop loss order while the normal spread for the currency pair you have traded is only 2 pips, your stop loss can be triggered if the broker increases the spread to 8 pips. You think you have lost to the forex market, but in fact you have lost to the broker because it is the broker who earns not only the 8 pips spread, but also the money that you have lost in your losing position. This is called stop loss hunting. They can do the same thing when your position is so close to the target. They increase the spread, not to let your target be triggered and your position remains open. Therefore it will be more possible that your winning position finally becomes changed to a losing position that makes more money for the broker. I have seen a broker who increased the USDJPY spread to 80 pips to hit the stop loss of one of my students. It also happened to me that a broker who was proud of having no dealing desk, hunted my EURJPY stop loss through sudden increasing of the spread from 3 pips to 14 pips.
In Forexoma brokerage, spread will not be determined by us. It will be determined by the forex market and based on the liquidity of the market. We will not act like the fly-by-night brokerage companies. We have long term goals and we want to work as a well-known and honest company for good. We do not want our clients to wipe out their accounts. We want them to make money and stay with us.
3. Forexoma will have everything the traders need to trade and make money. What does a trader need to trade and make money as a profitable trader? 1. He needs to know how to trade. 2. He needs to have an account with a reliable and honest broker.
Most traders open a live account and then give up after losing all the money they have in their accounts. If you give up on forex trading, you will lose the chance of making money through forex trading for the rest of your life. Forexoma doesn’t let you lose and give up. Forexoma Live Market Analysis will be offered for free for the traders who open a minimum $10,000 $5,000 live account with Forexoma brokerage. Therefore, our qualified clients not only learn how to trade, but will make money through Forexoma signals. All of these facilities will be offered by one company and website: Forexoma.com
Forexoma will not only be a reliable and honest brokerage, but will teach the novice traders for free. It will also provide free live forex market analysis and signals, so that traders can earn while they learn.
Forexoma Money Management:
Brokerage is not the only service that will be offered by Forexoma. After running the brokerage service, we will offer money management service too. Those who are interested in this investment program, can open a live trading account with us and let us trade for them. Our money management division will offer Managed Account Services where we will not take a % of the profit unless the client makes money.
Our money management service has to be offered to a limited number of clients who can open a $50,000 account minimum. If you are interested, you need to register to our priority list now. Therefore, when we start the service, you will be informed by us to sign up on time, before we reach to the limit. Please sign up using the below form:
Please stay tuned! We will let you know as soon as Forexoma brokerage starts working.
Further Reading:
Before
leaving our website, please take a look at the other articles we have published.
Great idea Forexoma! I will join your brokerage. I am tired of getting ripped off by all the brokers out there. We need a reliable Forex brokerage.
So to get Forexoma for free I need to open an account with 10K? How about 5K if I trade a lot?
Hi Calder, Thank you.
Ok! $5000 will be fine. So with having a $5000 account, you can have access to Forexoma Live Market Analysis for free. Of course your account has to be active. Idle accounts can not have free access to FLMA program.
Forexoma Your $5000 account and free FLMA sounds very reasonable. However I am very new and elsewhere you stated that one should trade in a demo first to learn the mechanics of trading before going to a live acccount. I can put in $5000 OK but I am afraid to become active until I learn the mechanics. What to do? Do you or would you consider letting one paper trade one or two months after depositing the $5000 in order to learn the mechanics before becoming active? You surely do seem to be a very considerate guy. Your free education on the site is A# one. Congratulations.
Scond question. I am from USA and have money in a ROTH IRA (a retirement account where I pay taxes on money I put in and no tax on what I earn in the account) I cannot use that money in an FX account without going through a trust company such as Millinium Trust. I know that willl work with some brokers out of the USA. Would you be able to work with them? That would be a huge benifit to me. Thank you, Ben
Hi Ben, We are still thinking about giving the Forexoma Live Market Analysis for free to those who open a live account with Forexoma Brokerage. We have not 100% made up our mind about it yet. But so far we have come to this conclusion that for each 12 lots that our clients trade, they receive one month credit for the Forexoma Live Market Analysis.
I don’t think that we will have any problem working with your money. You will wire your money to the bank account we have in US.
Thanks Forexoma. In order to know how many lots I will be trading, How many trade signals do you give out per month? and how many lots can I safely trade in my $5000 account with100/1 leverage and 3% risk per trade? Thanks,
Ben
You are welcome Ben.
You can use the position size calculator we have at http://www.forexoma.com/money-management-in-forex-trading-how-to-manage-your-money-in-forex/
It tells you how big your position should be. As you see, it depends on your position stop loss. The bigger the stop loss, the smaller the position while you want to take the same risk. For example, if you want to take 3% risk with a position that its stop loss is 50 pips, you have to take a 0.3 lot position. Whereas if the stop loss is 80 pips, you should take a 0.188 lot position.
The number of signals we sent is not clear. We may add more signal sources to our service to have more signals. But as we really wait for the trade setups, it depends on the market when to give us a signal.
With you my friend………without thinking
Thank you Kamal. You are always a big support
Forexoma behind a straight through brookering firm sounds wonderful. Everybody will be watching developments! Looking forward too hearing about regulation, securing of account funds and your bank ties. Best wishes for a successful outcome.
Hi Finn,
We will register our business with the regulatory organizations.
Great news :), Mr Forexoma in how many weeks it will be ready approximately?
Hi Ioannis,
Thank you. It will take us about 1-2 months to have the brokerage up and running.
I like your proposition, but are you going to include cent account for less priviledged interested people.
Afolabi.
Hi Afolabi,
Yes, we will offer mini accounts and you will be able to trade mini lots.
Hi Forexoma,
How are you? I always love to read your contents, its very informative and effective and you deliver what exactly people wants. Forexoma, Am from India and more people here love to trade in the Forex market and sadly many lose because they do not have knowledge in the subject. All they have heard is the myth that they can be rich overnight trading in the FX Market. And the lots they open is huge and they almost use 50% of their margin in one single trade, later then the market goes against and eventually losing the total deposit. And the “they” I talk about is “me” before an year ago.
Now I am quite good with my trades.
I was saying myself yipeee while I saw your email with the subject you are coming up with Brokerage firm, was then curious to read the complete page and even more curious to read on the Managed Forex becasue I always wish to have some professional handle my account, but then again I was totally disappointed to read the last line that we can able to qualify only if we can come up with $50,000.
Forexoma, I live in TamilNadu and more people here look for Managed Forex. The thing is, most of them will be comfortable with $5000 or less because that is how we can able to afford. If we can do some arithmetic, 5000 * 10 = $50000. I am sure if you can come down to $5000, we wont be losing 10 folks which in turn can be 100 and that makes more than $50000. I am not sure how many can able to come up with $50000, but I am very sure, the number of people it counts for $5000 will be much more than $50000.
I would be very happy if you can flash the screen near soon that you accept $5000 Managed Forex Accounts. Just my suggestion.
It was really great to be here and all the very best for you. Have a great day Forexoma.
Loving,
Raju.
Hi Raju,
Thank you for your kindness and also your suggestion about the account size. We have made that limitation to limit our paper work. There is no difference between a $50k and a $5k investor when it comes to opening the account. There is the same paper work, funding and withdrawal . That is why we preferred to work with less number of clients with a reasonable account size than several clients with small accounts. It is just because of the limitations that we have. It has no other reason. I do not want to disappoint anybody. So I would be so happy that people could participate even with a $100 account. But as I said it will be too much work for us and we may not be able to handle the work properly.
However, I will think about it seriously and it is possible that we lower the limit down to $10k or $5k. I will let you know.
Thanks again
It looks like small investors who currently have mini accts at other brokerage firms wont be able to join you.
Even if I could eventually come to $3000 capital and start trading standard lot, it still wont be enough to join you.
Hi Steve,
Forexoma Live Market Analysis will still be available for $100/month for those who do not want to open an account with our brokerage or their accounts are smaller than $5000.
I have learnt a lot in forex market reading your publication. Sincerely I believe you and I will like to be one of your client.
Recently, I cannot afford morre than $1000. Can you please come to my level. I will like to benefit from this opportunity. thanks
Hi Yemi,
Thank you for your comment. Yes, we may change our mind and lower the minimum account size for having free access to Forexoma Live Market Analysis.
Hiya! …….here comes the no. 1 broker in the woooooooorld!
Honestly I wanted to think aloud-suggesting this lofty idea,but i knew it was a matter of time and naturally inevitable for you to standout.
Forexoma, may the Lord bless and watch over this company,may he make his face shine upon it and be gracious unto it, and may the Lord look kindly upon this company and give it the peace and breakthrough it deserves.I pray in the name of Jesus that this company shall grow like the cedar of Lebanon and upon it shall millions of birds find shelter.This company shall oulive you as coca-cola has oulived its founder.this I pray in Jesus name
the Lord shall give you the strenght to pull through
Jelmark Mangset
Hi Jelmark,
I am speechless. Thank you
May God bless you and your honorable family.
hi Forexoma…my friend
wow amazing, yes i also have the same issues from Brokerage
but Forexoma for Money Manager, i have a profesional trader friends, he just like you, make money manager from 50k turn to 30k and turn to 10k then turn to 1k……but the sadist things…after 2,3 years my friends got a trouble, then the investor not happy with that, at first my friends get a respect and so many want to be friends with him, but after the problem, all the investor like a lion.
Forexoma… i hope u can stick with your rules, just accept 50k, because more people more problem tension …and in forex we need to avoid tension or headec, sorry hopefully u know what i wan to tell you
u need to walk before u run
trully friends elyaz..
Hi Elyaz,
Thanks you for your attentions and your advice. I know what you mean. You are 100% right.
I joined forexoma a week ago and its almost the only site I’ve visited since. I was planning to load $4000 to my live trading account with an existing broker but for free live market analysis with a $5000 I’ve changed my mind. Since I stumbled on this site about 3 weeks ago, its just been endless goodies. I wish you best of luck Forexoma and may the Almighty be always with you. I would be interested in the managed account in future since I can’t raise the $50k now. Is it possible for you to keep a list of those who are interested and accept them in future as they raise the amount rather than closing them out completely if they can’t raise the money now?
Hi Macharia,
Thanks you for your kindness and attentions. We will be so happy to host your money in our brokerage. Just be patient and it will be launched in about one month.
Regarding the money management, please file your request using the above form. We will have you in the list and you will have the priority, even if you can not raise the money when we start working. Your seat is reserved
Hello Forexoma - this is a great idea!! Just brilliant.
Now, I am one of your newest students and I have not opened a demo account yet. Two questions, will you have an option for a demo account and will this be offered for US residents?
Should I conitnue with your market analysis subscription and signup for a demo account someplace else or shoud I wait? I am still trying to figure out things because there is a lot of info that I need to process….Just overwhelmed right now….Wish there was a step by step guide…Not complaining just trying to figure out the way to proceed forward.
Thanks for everything!
Regards,
-AD
Hi A.D.,
Thank you.
Yes, we will offer unlimited demo account and US residents can also sign up.
At the meantime, please sign up for the FxPro demo account. I know US is not in their list, but I have asked them and they said US residents can just choose another country and sign up for the demo. Later when our MT4 starts working, you will have to sign up for a demo account with us because our profiles will work on our own demo account.
Regarding the step by step guide, I will do my best to brush up the index page after we run our MT4.
Thanks again
Hi Forexoma! Will your brokerage be licensed with the CFTC, and registered as a member of NFA, FINRA, SIPC, etc…? And once you become a broker and money manager will you be hiring support staff, client service reps, or perhaps even junior traders, etc…? In other words, will you be accepting resumes? Please keep us posted about this. Thanks!
Hi Raph,
Thank you for your comment
We have started the process of regulation. As our brokerage is so new, it takes some time to become regulated with the organizations you mentioned.
Yes, after running the brokerage we will start hiring. We will announce it and you can send your resume.
Another idea just came in, actually a suggestion. Since we are your students and you do not give us any exams, once you start the brokerage, it would be great if you can conduct some monthly forex contests especially for us newbies on demo or live accounts. I’m sure most of us would be willing to participate even without any reward just to enhance our skills. We would also be able to gauge ourselves against the other students and maybe a forum thread could be opened for continous discussions on the same. I know we are not competing against each other, but still think it would be a good thing.
Thanks, Macharia.
Yes, I agree. This is a great idea. We will have contest every month and winners will be rewarded too.
Hi Forexoma,
I am happy to see you that you are going to start managed Forex account. I am a very small investor and will be benifited if you could accept small funds also. (300-400$).
Hi Sanjay,
Unfortunately it is a little hard to work with small accounts. Besides, an small account has the same work for us as a big account. However, it is possible that we think about this and find a solutions for it.
Dear Forexoma
Forgive me if today I wrote You an e-mail in another article the one of 27 of September. If I was reading this one first I would not have doneit. I am thinking of opening an account with You as Managed account but I am a little short of the 50.000 dollars at the moment so I have to wait maybe just a few more months or who nows few weeks. So You are saying that if a person opens an account with Your firm of at least 5000 dollars You won’t charge the montly fee 100 dollars. Am I correct?
So please let Us know when Your brokerage Firm will be up and running.
Thank You very much
Hi Aldo, Thanks for your comments. I enjoy them a lot. I also answered your other comment
Those of our clients who open a live account with us and trade at least 12 lots per month, will have the Forexoma Live Market Analysis for free.
Mr Forexoma will your brokerage company offer micro lots?
Hi Ioannis, Yes it does. You can trade 0.01 lot if you open a mini account. With the standard accounts, you can trade 0.1 lot minimum.
HI Mr. Forexoma i will like to know about the dirrerent maney management plans that your company is going to offer…. thank you.
Hi Vynesh,
Please follow the link below:
http://www.forexoma.com/forexoma-brokerage/#comment-40610
Forexoma,
I am impressed by the solidity staged of you improvement and great result. I actually have been looking at your platform, lessons, performances…for more than two years now.
I would like to consult with you about having and setting up your own hedge fund, an asset management company that will grow from scratch into some few hundred million in 2-4years and to some biliion after…
Kindly let me know your thoughts by email.
Happy New Year
Best
Hi Forexoma,
Any news about the money management program. Will it be launched this month?
I hope yes :).
Regards
Hi Vitro
Hopefully it will be launched very soon.