Can anyone tell me if RefcoFX and FXuniversal are any good,
or do they have a bad rep?
Thanks
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FXUniversal is a reseller that gets a commission to get you to sign up with FX Solutions. I use FX Solutions sometimes for micro trading when I am not using my main brokers. The spreads are a little higher and they have mobile trading but not for IPhone so I don't use them as much as I use to.
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Joined Mar 2013
|200 Posts
Because increased regulation by the CFTC and NFA caused several high-profile U.S. forex brokers to exit the market, it’s become much easier to identify the very best. In addition, higher capital requirements have made it difficult for some brokers to compete. Regulatory differences between the U.S. and the rest of the world include lower leverage limits, 50:1 compared to 400:1, and reduced access to other over-the-counter products like CFD contracts. You should choose your foreign exchange brokerage firm basis on regulation because it is given you, your fund security.
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Joined Apr 2016
|411 Posts
I would rather say to please check the last post date which is almost seven years of now.. so what is the purpose of bumping such old stuff by the way?
A lot of this will depend on the country that you are trading from.. It isn't always about getting highest leverage and low cost sometimes it is better to get best execution and a company that is well regulated and trusted
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Joined Mar 2013
|200 Posts
There has been a surge in the quantity of online forex brokers as of late. In any case, not all brokers are made equivalent. For gainful and effective trading, it's essential to ensure the one you pick is sheltered and the best fit for your trading needs. Control is a standout amongst the most essential variables to consider while picking a forex broker. To open a record with a forex broker, you transmit a great deal of individual and money related information. Along these lines, concentrate on information security.
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Joined Apr 2016
|411 Posts
We better shortlist a few brokers like hotforex, octa, oanda, xm, lmfx etc and do some market research at our own to finalize which broker will be suitable to our needs. Moreover we should only go with those brokers which have repute in the past.
We better shortlist a few brokers like hotforex, octa, oanda, xm, lmfx etc and do some market research at our own to finalize which broker will be suitable to our needs. Moreover we should only go with those brokers which have repute in the past.
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Advanced version of this is to not keep all eggs in one basket, better to split big orders into smaller ones and trade them on platforms you mentioned. Plus you can compare execution and make informed decision which one is better.
{quote} Advanced version of this is to not keep all eggs in one basket, better to split big orders into smaller ones and trade them on platforms you mentioned. Plus you can compare execution and make informed decision which one is better.
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And 2 baskets should have different trading conditions (or account types) so we can have different views on market.
We better shortlist a few brokers like hotforex, octa, oanda, xm, lmfx etc and do some market research at our own to finalize which broker will be suitable to our needs. Moreover we should only go with those brokers which have repute in the past.
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It's better to trade with large ecn/stp brokers these days. Not just any ecn but the ones that disclose their liquidity providers.
{quote} It's better to trade with large ecn/stp brokers these days. Not just any ecn but the ones that disclose their liquidity providers. I was googling for some reputable ecn/stp brokers and I found this article useful. Just wanted to share it. http://www.thesearcherslist.com/2017...t-spreads.html
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You can find information about LPs in broker ToS at least broker explicitly state if they act as a counterparty for any OTC contracts they offer
I think it is better if you choose a broker for your trading style rather than just choose one randomly.
If you are looking for Forex make sure the broker is well regulated (Like FCA) and don’t sign if they put your account on offshore licensing. Most retail brokers are MM no matter what trading environment they offer. Value reputation. Axitrader, Pepperstone, FxPro UK ltd. (not the Cyprus one), IG, LCG etc. If you have good capital choose something more professional like Lmax, InteractiveBroker
If you love Vanilla Options, CFDs and Futures choose TDAmeritrade, their platform thinkorswim is best in the business.
For binary options choose regulated broker like BDSwiss, VantageFX though they also offer regular FX. NADEX is US regulated and a good one. You really need to be updated with binary options brokers, scam ratio is higher in binary options. You can check recent Binary Options Scam list or use some Google research.
{quote} What you think about pure ECN broker? What actually purity? Please share more about
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Hi James , Pure ECN Brokers are the brokers who don't act as market markers/dealing desks, whereas they connect the client directly to the liquidity providers and provide the best market prices to the clients, such brokers do not seek interest in clients loss and do not charge spreads, they only charge commissions on the trade volume.
{quote} What you think about pure ECN broker? What actually purity? Please share more about
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Hi!
I am sorry for late reply,
Pure ECN broker is the broker who is directly connected to the Liquidity Providers and will give you the live feed directly from the liquidity providers.
{quote} Hi! I am sorry for late reply, Pure ECN broker is the broker who is directly connected to the Liquidity Providers and will give you the live feed directly from the liquidity providers.
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What’s the actual difference between ECN & STP/DMA, if any? Are they all Matched Principal Broker which may not hold any proprietary positions, has no exposure, and is therefore only acting as an intermediary between its Clients, Liquidity Providers and major Exchanges?
