Forex Brokers

I start a newThread ''Broker''.
Need your comments about your experience,pro&contra with brokers and different trading platforms,so we can make better decision.
I'm using my third broker (live account).
I will post on weekend, my bad & good experience .
Ratig also 1 to 5.
1-very bad
5-excellent : :

Gain Capital = 5

gotta give some credit to my new broker. excellent platform (especially if you are managing money for other people) excellent service, good spreads, built in trailing stops, great interface (online).

I'm trading the 5 min forex with Forex.com (Gain Capital). I would say they are a 4 out of 5. The platform is okay but it gets confusing when you have 15-20 trades pending. It allows you to look at one pair at a time which helps and they do guarantee your stops. Plus they allowed a credit card (debit card) to fund your account - with no fees!!! Max Margin: 200:1 (mini)

I'm looking at Oanda now just to trade smaller than mini lots, so I can truly follow Beau's rules without getting hyper about a loss. Max margin is 50:1.

My 2 cents...

Minnelli

I have narrowed down my choice of forex broker to two - Oanda and FXCM. Please I was just wondering if anyone can tell me the best broker. One thing I noticed about FXCM is that they have a trading system selector. Oanda has no minimum required amount while FXCM minimum required amount is $300. Please advise. If you have any broker better than these two, please let me know.

HOTSPOTFX : 5 .THE BETTER. but you have 7500 dollars and open lots 100k minimum.

OANDA: 4.5 .excelent broker with low spreads and no minimum lots.

MARKETIVA:4
NORTHFINANCE:4
MBT:4

FXDD:3
CMSFX:3
IBFX: 3

GAIN:2 i have many PROBLEMS with withdrawals ( 1 take more than 20 days)

FOREXGEN:1 THE WORST....

You can't get better execution than HotspotFX.
Instant execution, No Slippage, ECN spreads, Free Java API.

5/5

Coder

i forgot 7 brokers because are regular the 7 (in my experience) nothing good and nothing bad....

V4x 3
CMC (Very good charts) 3
ikon 3 (i have some problems with 1 dealing with options)
RFXT 3
MIG 3
Money Garden
GFS 3

and 1 bad

EASYFOREX 2 (bad experience)

and FXCM (i cant see because i loss money with REFCO) NO RATING!!!

and again yes HOTSPOTFX IS THE BETTER!!!

100k Lot Size Is Only To Pro

Oanda: 4
Pros:

1. Hiperfast customer service
2. Great spreads
3. Trade any size
4. Execution ok

Cons:

1. Ugly platform

----------
FXCM: 4
Pros:

1. Nice platform now with trade in the chart.
2. Inmediate execution.

Cons:

1. Spread widens up to twice the normal points all the time, even in London and when no news.

----------
CMS International: 2
Pros:

1. 

Cons:

1. Constant disconections
2. Ugly platform
3. Big spreads
4. Slow execution
5. Requotes all the time
6. Slow customer service

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Forex Club: 2
Pros:

1. Fast customer service

Cons:

1. Slow execution
2. Need to ask for a quote
3. Ugly and difficult to understand platform
4. Big spreads

----------
Marketiva: 3
Pros:

1. Execution ok
2. Spreads ok
3. Light simple platform
4. Trade any size

Cons:

1. No regulated

although he is a little slow,
I think that their graficos are of the best ones,
have 5-10-30 seconds and avg499 on this TF i think they are excelents to scalping systems! for my the best on FOREX.

merlin, are you serious?

MBTrading 4.5

Northfinance (i will let u know)

A very good thread. I have looked all response.
Dear friends,
Iam trading james price action method on four hour chart and my stoploss is based on 1 hour price action. I have decided to invest $500. There are two good brokers here.
(1)Mbtrading
(2)Onada
Is any body trading microlot (0.1 mini lot) with them ?
If yes tell about me execution of orders ?
Withdrawl fee(including wire) for international

One thing more. is onada register with NFA ?
Thanks

i test both brokers
you need OANDA, the are no minimum lots ,you can dealing with 1 dollar

45 usd withdrawal international

That post is 3 and 1/2 years old.

prrrrt... I didn't notice that lol

It's interesting how one mans positive is another mans negative. I've never minded some sort of e-check transfer, however credit card deposits are always a red flag to me. It says they are perfectly willing to allow their clients to trade with debt and or money they don't have. Taken in that light, the 200:1 can also seem a negative. Allowing customers to lose their money faster.



FXCM : 2/5 Poor execution at all times, they lie about having a "no dealing desk option" as their NDD does not charge commission this mean they have the ability to put commission in their spreads. Any broker able to manipulate the price feed is using a Dealing Desk to do it. slightly larger spreads than they need to have especially with widening spreads, Their only plus side I suppose is for clients that feel more comfortable going with the biggest. Also the only broker whose customer service has ever said to me and I quote "Oh, if you trade with stops and limits this platform probably isn't for you." This screams in it to take money from their clients to me.

CBFX : 4/5 Although there were some rough times when they merged with IFX I think they've come out of it strong. From a managed account traders stand-point I love their managed platform, so much easier and faster to manage individual accounts. Good execution as well and great customer service.

ECN- Hotspot 3/5 Great for jumping in and out with larger lots. Not really accessible to the intermediate to beginner investor with a large start up.

Hmm... FXDD 3/5 Decent execution, though I've been slipped a few times. Good EA dealer and you can't beat MT4 charts for technical trading in my opinion. Such a great coding community available for MT4.



Hurray for thread resurrection.

... Only if the person is irresponsible with the credit card are they trading with money they don't really have when its due.

And... if someone is trading with any type of leveraged account, aren't they in theory trading with money they don't have?

For me (and I've had very limited experiences)

GFT - 4
In terms of sheer amounts of data fed to the client, I haven't found anyone that beats them. Their service is pretty good, although I haven't been called back on occasion when they told me they would. Been with them a few months.

itradefx - 4
The sheer opposite - their platform is simple, so I don't have to worry about 8 billion points of data I'm not using for a current trade, and their customer service is very personal. Their platform has enough information to function well. I'll have to update this one though, only been with them a few weeks (mid November)

FXCM - 2
Decent platform, terrible service, and I always feel oily after dealing with them. And even though they say they don't have a Dealing Desk, they seem to run through DB, which I think has a dealing desk.... seems kind of like false advertising.

If you are using your debit card or something to draft out of your checking account, that is one thing. However it can be achieved with an e-check as well. I think if someone is funding with their American Express, there is a majority of them that are funding with debt.

I'm not saying everyone funding this way is doing it irresponsibly, I'm just saying a majority are probably funding with debt. For a broker to make you sign a "waiver" saying you are trading with investment capital that you can lose and then turn around and give you options of funding that can put you in debt is irresponsible on their part. Once again, one mans positive is anothers negative. It's only my opinion, I hope I conveyed it correctly.