Here's a couple of less known ones I found that look ok.
https://www.byfx.com
http://mtcookfinancial.com
Please share any experience..
https://www.byfx.com
http://mtcookfinancial.com
Please share any experience..
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Disliked{quote} Got experience with 3) and 4). Would not recommend JFD, they are pretty expensive considering they lousy execution. I also found their general appearance, how do I phrase it.. outdated. I had to send manually filled in documents (printed!) for various issues. Never experienced that anywhere else. Felt like a time travel back to 1997. FXPig is a solide option. They offer a lot of features for a MT4/5 broker. Only disadvantage for me here is their deposit and withdrawals, which lack in possibilities and costs imho compared to competitors.Ignored
DislikedHere's a couple of less known ones I found that look ok. https://www.byfx.com http://mtcookfinancial.com Please share any experience..Ignored
Disliked{quote} having work in the interbank, can attest that SBI is a legit and a active interbank participant that said, might wanna check with SBI directly if byfx is indeed one of its subsidiaries. instead of relying on byfx's claim. if indeed it is, will be a good option.Ignored
Disliked{quote} gave the company a look see. their current head of FX Anish Lal seem to have a shady past, use to run a fraudulent binary options brokerage. might wanna check how much skin he has in e company. https://www.forexpeacearmy.com/commu...ets-com.63786/ if NZ is your destination of choice, i'd suggest OMF, has almost $400m under management. Rockfort is another good one offering FX futures.Ignored
DislikedHmmm, my additional question ... When ESMA - Europe & ASIC - AU & Co will see that their measures had no effect (retail traders will move to unregulated brokers/jurisdictions like Seychelles), causing more HARM than BENEFITS for traders ... do they have the power to enforce the traders (based on their residency) to trade only with EU/AU entities? The brokers (like IC) are now with one step forward (providing offshore entities). But, it smells that ESMA/ASIC/Co won't stop here ... Btw, I am still meditating about whether to move my "business" from...Ignored
DislikedSome sad news from Pepperstone. I have asked the following question: "As a retail trader who does not qualify as a Pro trader, can I choose an offshore entity of Pepperstone?" "(which does not subj. to leverage restrictions)" "(Bahamas / Seychelles for example)" Response: You are able to sign up under ASIC with Pepperstone Australia but As I mentioned ASIC will be putting in place leverage restrictions for retail clients as well. We are not onboarding clients residing in the EU under our Bahamas license. "Thanks, the last answer clarifies my question....Ignored
DislikedLikewise, my friend in DE can't currently open an additional account under ASIC regulation...Ignored
DislikedHigher leverage gives you more breathing room if you know what you're doing, it makes you last longer, you are at less risk of being margin called and I would argue is safer to use for someone who knows what they are doing. At the end of the day, lower leverage is there to slow you down, lift the barrier of entry and give the edge to the professionals who will out trade you with the higher leverage. You're using a butter knife whilst they are wielding a katana, who's going to win that fight? Not you, this is end game.Ignored
DislikedLooks like a 'basic' pro account with leverage is available if you can show 200k income in two years, or 100k in one? not sure on exact details as it seems to vary a bit on different brokers.Ignored
Pro Level 1:
DislikedOPINION - Related to the new ASIC changes ( mostly recently effecting Australian retail traders but ultimately all traders world wide ) I was making noises about this to brokers over a year a go, traders were not listening or thought it would not happen, well here we are and there is a subset of retail traders that actually believe this is a step in the right direction, how wrong they are. Let me first say I'm against these new regulation changes and did my best being vocal about my displeasure both to ASIC and to the brokers I use, non of it was...Ignored
Disliked{quote} well who knows what the motivation is, but decreasing leverage available to certain people does also mean in order to maintain 50% margin on 1:30 will require people to ESSENTIALLY RISK MORE.. leverage and account closeout in the event of a black - swan type event is an advantage.. but now if you cannot show worthiness, you are expected to PONY UP more equity cash balance which puts it at risk in these types of events because what is the bet Broker will slip losing positions if the account hits 50% DD overnight? oh, and if it doesn't, it...Ignored