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AlpariUK, IBFX, CitiFX vs. InstaForex

  • Post #1
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  • First Post: Feb 19, 2010 8:09am Feb 19, 2010 8:09am
I'm new to this game and I've been doing a lot of research and demo lately. I've tried MetaTrader from all 4 brokers I've mentioned on demo account.

But I'm confused about something and I have a few questions. A while ago, I sold 1 lot of USDCHF at the same time from all 4 brokers' MT4. When I purchased them, Alpari UK made a profit of $170, $158 on IBFX, $147 on CitiFX... but only $14 on InstaForex. Also, I purchased 0.01 lot of EURUSD and 3 broders are showing profit of $2.4~2.6 while InstaForex is showing $0.30.

Q1. I know spreads are different so it varies from broker to broker... but how could it be only $14 for InstaForex, less than 10% of the rest?

Q2. How long it takes to execute an order on average for a Live Account on AlpariUK and IBFX after you click on Buy/Sell button in MetaTrader?
Not knowing that last broker you speak about, I would logically assume, since the profit seems to be one tenth of the profit made with the other brokers, that simply their lots are one tenth smaller than the "regular" ones...
Meaning that when you buy 1 lot in the other brokers, you're buying 100.000 units, while with them, you're only buying 10.000 units.
this should be explained somewhere in their site, certainly.

About the execution, it always depend on the volatility of the moment... but I can tell for example that, with Alpari UK, on trade sizes up to 1 lot, and during "normal" volatility, I get filled in 2 seconds (I would say aproximately).
Thanks for explaining. Now it's making sense but still I don't like InstaForex since they don't have the fifth digit and I'd have to assume that their lot size is not standard enough.
Maybe, your InstaForex demo account is a "mini" wherein each 1.0 Lot is $1 a pip position whereas the others are "standard" account wherein each 1.0 Lot is a normal $10 a pip position.

As a matter of fact, IBFX does offer this kind of account. Alpari I am not sure, but I think they do as they offer "micro"account.

It is not indicative to use DEMO accounts to judge a broker.

DEMO accounts are just there to learn forex and try "EAs", but 100% not to be used to judge brokers. for starter, lousy brokers will give you the best execution on their demo but lousy execution on live.
Quoting fr600
I'm new to this game and I've been doing a lot of research and demo lately. I've tried MetaTrader from all 4 brokers I've mentioned on demo account.

But I'm confused about something and I have a few questions. A while ago, I sold 1 lot of USDCHF at the same time from all 4 brokers' MT4. When I purchased them, Alpari UK made a profit of $170, $158 on IBFX, $147 on CitiFX... but only $14 on InstaForex. Also, I purchased 0.01 lot of EURUSD and 3 broders are showing profit of $2.4~2.6 while InstaForex is showing $0.30.

Q1. I know spreads are...
Just be careful with Instaforex. On demo account everything seem good but on live account you will know what kind of games they are playing around.
Beware of Alpari, I have a standard account and trade gbpjpy, average spread is 5.5, But in the Demo account the spread is about 3. Technically they are not lying because they do offer the 3.0 spread IF you open a Pro account which requires 20K deposit.
Quoting just_ha
Beware of Alpari, I have a standard account and trade gbpjpy, average spread is 5.5, But in the Demo account the spread is about 3. Technically they are not lying because they do offer the 3.0 spread IF you open a Pro account which requires 20K deposit.
Thanks for the info.

Do you know about EURUSD spread on non-Pro account?

Since you're using Alpari, would you share a few words about their performance (execution, requote, etc)?
Quoting fr600
Thanks for the info.

Do you know about EURUSD spread on non-Pro account?

Since you're using Alpari, would you share a few words about their performance (execution, requote, etc)?
I worked with Alpari UK and they are fairly good.
Sometimes allot of slippages, but I think every brokerage has this, especially during news events.

Another one to consider is MIGfx, the support they give is verry good and the platform is also ok.

It doesn't matter what broker you chose, make sure it isn't a bucketshop!
The spread is 1.6 which is nothing compared to the 5.5 average of gbpjpy. Haven't been trading live for that long, and I havent used any other broker, signed up for this one cuz my friend also uses it. So I can't really give you a valid answer.

Quoting fr600
Thanks for the info.

Do you know about EURUSD spread on non-Pro account?

Since you're using Alpari, would you share a few words about their performance (execution, requote, etc)?
Quoting just_ha
The spread is 1.6 which is nothing compared to the 5.5 average of gbpjpy. Haven't been trading live for that long, and I havent used any other broker, signed up for this one cuz my friend also uses it. So I can't really give you a valid answer.
1.6 is the spread for EUR/USD right? or do you mean a spread of 1.5 on GBP/JPY?
  • Post #11
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  • Last Post: Mar 5, 2010 1:57am Mar 5, 2010 1:57am
1.6 seems to be the average at its current time, while gbpjpy is 5.5 which is its average for it too. I dont study this pair, so i'm not sure how high or low it goes. In the Pro account its .7-1.0.
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