Brokers Advice and help

Hi all,

I'm paper trading with several brokers at the moment, but would ideally like to open an account or two with some good forex brokers.

I'n in the UK, so that rules out forex.com.

I was considering the following:

cmc forex
gft forex
fxsol
saxobank
hotspot

I would prefer to start off with mini accounts, but would then consider opening several accounts. I could invest upto $10K USD altogether.

I've searched the forums and have come up with some interesting comments and information, thank you.

But some of the information is several months old and some of the firms named above are not mentioned, so I thought I would create a new thread. ;-)

Could anyone give any opinions or comments or any other information on any of the firms above, or indeed can you recommend a good broker? I would ideally like tight spreads, but can sacrifice somewhat in the search of an honest broker, especially one that is well established and secure.

I prefer firms that are commission free (GFT charge a commission but not sure how much?).

What else should I be looking for in a broker? If their charting software is not great I don;t mind paying extra for quality charting etc.?

Look forward to any comments and thank you all in advance

Congrats on a great forum with some great insights and great contributors.

CMC in my experience is a good broker (I get a bitter bite when they software went down),regardless they are honest ,regulated in UK, USA, Australia ,good costumer service, execution OK., most important; safety of funds.

FXSOL is very good. A few days ago I had two pending orders both to SELL at the same price. There was a very quick move down, but the larger if the two orders was filled at 11 pips lower than my price; the samller at the correct price. On their chat service this was quite quickly checked, and they agreed to credit my account with the difference. They don''t have trailing stops but their platform has never gone down while I''ve been on in the two months I''ve been using them. They have 1K accounts live (mini-mini).

For charting software try Xtick, and check out [email protected] for 3 Renko Systems.

Good hunting

choose saxobank definitively!
The minimum you have to invest is $10k though. You should try the demo account. They offer lots of crossings, and they have excellent chart system.

Thanks!

I keep thinking I want high leverage, but then remember that since I don't intend on risking more than 5% of my capital at any one time, what do I need 200:1 for anyway?

Also, does anyone have any further info on saxobank? I know they are Danish but other than what they have on their website, anyone have any links to info about them?

Who are the Danish banks regulated by?

Thanks again, much appreciated.

Hi again,

Does anyone know of or used Swiss Direckti? How do they compare? They use the same platform as Saxobank.

Thanks in advance

Interbank FX is another broker some people here use. They charge a 1 pip commission on each trade but their service and performance are high quality, from what i hear.