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  • #1
  • First Post: Aug 12, 2008 9:11pm Aug 12, 2008 9:11pm
Hi guys, sorry if this is a repost...
quite new to FOREX, could u guys shed some light here on which is the most reliable broker out there who also provides MT4 trading platform ? thx alotz !
happy trading!
  • #2
  • Aug 12, 2008 9:23pm Aug 12, 2008 9:23pm
Quoting xeNOS
Hi guys, sorry if this is a repost...
quite new to FOREX, could u guys shed some light here on which is the most reliable broker out there who also provides MT4 trading platform ? thx alotz !
happy trading!
I think fxdd is reliable, they don't have the best spreads, but I think they are reliable. They are big and won't run with your money.
I don't currently use them but I am thinking about using them. I have a demo and they seem good.
  • #3
  • Aug 12, 2008 9:38pm Aug 12, 2008 9:38pm
Quoting daanman3
I think fxdd is reliable, they don't have the best spreads, but I think they are reliable. They are big and won't run with your money.
I don't currently use them but I am thinking about using them. I have a demo and they seem good.
hi, thx for sharing btw do you noe which company owns FXDD?
  • #4
  • Aug 13, 2008 1:13am Aug 13, 2008 1:13am
Why don't you test them yourself with opening a demo account????
  • #5
  • Oct 27, 2008 5:59am Oct 27, 2008 5:59am
Hi,

visit www.fxcm.com or www.wsd-nz.com I know they use and have MT4 trading platform.

They have also demo accounts
  • #6
  • Oct 27, 2008 3:52pm Oct 27, 2008 3:52pm
Quoting daanman3
I think fxdd is reliable, they don't have the best spreads, but I think they are reliable. They are big and won't run with your money.
I don't currently use them but I am thinking about using them. I have a demo and they seem good.
No, they are not reliable. Requotes, freezes, executes at the price that was not even listed at the time... I had an account with them for a couple of years and would never ever go back.
  • #7
  • Nov 16, 2008 8:08pm Nov 16, 2008 8:08pm
ODL - LONDON - there are other around the world but london office is the best by far.
  • #8
  • Nov 16, 2008 8:15pm Nov 16, 2008 8:15pm
After getting my butt screwed by several USA based (NFA registered) brokers, I tend to favor NON-USA brokers.

ODL is UK based and has fast execution; they dont like scalping though, so if you dont scalp, it will be OK with them. However, most UK based brokers do not welcome USA/Americans.

FXCM is a USA based broker; they are relatively the largest retail brokers in the world; im not sure though if it translate to safety or otherwise. Lehman Brother was a big bank yet they folded up; so I guess size does not equate to safety.
  • #9
  • Nov 17, 2008 12:17am Nov 17, 2008 12:17am
Quoting BurgerKing
After getting my butt screwed by several USA based (NFA registered) brokers, I tend to favor NON-USA brokers.

ODL is UK based and has fast execution; they dont like scalping though, so if you dont scalp, it will be OK with them. However, most UK based brokers do not welcome USA/Americans.

FXCM is a USA based broker; they are relatively the largest retail brokers in the world; im not sure though if it translate to safety or otherwise. Lehman Brother was a big bank yet they folded up; so I guess size does not equate to safety.
This is bascially true. But normally people take it for granted that a big company gives them relatively more sense of safety than a small company does.
  • #10
  • Nov 17, 2008 12:22am Nov 17, 2008 12:22am
Quoting BillyGlyde
ODL - LONDON - there are other around the world but london office is the best by far.
It seems ODL has limited capital that won't reach NFA's standard because recently NFA changed the capital requirements.
  • #11
  • Nov 19, 2008 4:37am Nov 19, 2008 4:37am
Hi Burger King,

why not trying WSD-NZ.COM they are New Zealand based and will go public this 25th of November. Maybe this is the right broker for you. They have MT4 platform.

Saxobank.com is a Denmark based broker/bank and AC Markets is Swiss based.

Take a look at them.

Good luck
  • #12
  • Jun 8, 2010 6:02am Jun 8, 2010 6:02am
I am currently using a FXCM demo account to test some EAs and im getting tired of getting 'old tick' problem (going on for 3 days now) . I cannot get any trade orders whatsoever, trying to use EA and i cannot get any orders to execute. And this is on a demo account, i would no trust it to go for a live one.

This is my experience with FXCM anyway.

currently looking for an alternative. Think i'll try the FXDD and se how it goes.


Quoting cameleon
Hi,

visit www.fxcm.com or www.wsd-nz.com I know they use and have MT4 trading platform.

They have also demo accounts
  • #13
  • Jun 14, 2010 10:06am Jun 14, 2010 10:06am
Hi..I am the beginner as well....I wonder what is the advantage differences between big vs. small forex company? or what is the pros and cons?
  • #14
  • Jun 14, 2010 4:01pm Jun 14, 2010 4:01pm
I am a total newbie and need help to understand how it works. My question may sound quite crazy, but I would very appreciate if you could throw your thoughts to it.

If you had a holy grail strategy, how would you trade?
(1) Broker -- would you open an account only with one broker, or open multiple accounts with many different brokers?
(2) Position size -- would you trade the single biggest lot you can get at once? or trade many small lots in different accounts?
(3) Would you be afraid of a problem with brokers making too much profit?

I'm sorry if this is a stupid question to ask, but I can't help wondering, there must be very successful retail traders who are making insane profits, then, how they do it.... (I just think they don't want to stand out, while they make a big profit...)

Thank you very much in advance!!!
  • #15
  • Jun 14, 2010 10:12pm Jun 14, 2010 10:12pm
If you had a holy grail strategy, how would you trade?
(1) Broker -- would you open an account only with one broker, or open multiple accounts with many different brokers?
I'd open with one broker. As a newbee you don't need to be tracking multiple accounts. Also you do not need to place all your speculation capital in service. Here's an example; let's say you have $10,000 usd - safe trading lets you risk up to 5% total at any one time. This equates to $500. To meet your roker's margin requirements, you may need to only place $1000 into the broker account leaving $9000 in your FDIC saving account - now you can treat both accounts as one for risk calculations, but your real world exposure is controlled and significantly limited should your broker go awry.

(2) Position size -- would you trade the single biggest lot you can get at once? or trade many small lots in different accounts?
To this question let me just share with you this -
Assume Probability of a win or loss on any one trade is 50%
If you risk 50%, you will wipeout as soon as you have 2 consecutive losing trades - 1 chance in 4
If you risk 25%, you will wipeout as soon as you have 4 consecutive losing trades - 1 chance in 16
If you risk 10%, you will wipeout as soon as you have 10 consecutive losing trades - 1 chance in 1024
If you risk 5%, you will wipeout as soon as you have 20 consecutive losing trades - 1 chance in 1,048,576 (about a million)
If you risk 2%, you will wipeout as soon as you have 50 consecutive losing trades - 1 chance in 1,125,899,906,842,620 or about a BILLION!

Risk is risk - doesn't matter whrer you spread i

(3) Would you be afraid of a problem with brokers making too much profit?
The broker is in business to make money. That is their primary goal and the reason they are in business. You simply need to find one who is trustworthy and does right by you. I personally use FXDD now for over two years and have had 2 issues arise and both resolved to my satifaction and both on first contact.
  • #16
  • Jun 28, 2010 9:58pm Jun 28, 2010 9:58pm
hello,

this is my first post at ff, greetings to all.

i have experience trading live with:

fxsol.com
oanda.com
ibfx.com
forex.com

oanda does not use metatrader, and their api is as buggy as a flytrap.

i believe that fxsol does use metatrader, atm, but i have never used it there, metatrader, i only traded manually there.

i personally think that the most important issues regarding broker selection are:

competitive and stable spreads.
fast trade execution.
fast deposits and withdrawls processing.
professional and courteous customer service.
metatrader.

i recommend that ibfx.com and forex.com provide all of the above, and quite well, i might add.

customer svc and funds xfer processing are critical, imo.

i trade from the united states and i found no inconvience at all when trading thru forex.com, which is not united states based.

happy trading,

edward/.
http://img810.imageshack.us/img810/1417/me1e.jpg
  • #17
  • Jul 25, 2011 5:51am Jul 25, 2011 5:51am
Hi, anyone trading FX in Singapore can share/recommend which fx broker they are currently using and which they have no problem with the broker's system in term of system stability, spread, fees, etc. Thanks you in advance.
  • #18
  • Aug 6, 2011 3:34am Aug 6, 2011 3:34am
Hello guys, thank you for responses I received so far but I really need you to guide me so as not to make the wrong choice of Broker. I want to open my live forex account but do not know who among the brokers fits in. Kindly post your experiences so I can decide on the next level. Thank you.
  • #19
  • Oct 27, 2011 11:14am Oct 27, 2011 11:14am
Quoting adeniyia33
Hello guys, thank you for responses I received so far but I really need you to guide me so as not to make the wrong choice of Broker. I want to open my live forex account but do not know who among the brokers fits in. Kindly post your experiences so I can decide on the next level. Thank you.

Oanda is the best; forget the rest. They have an office in Singapore, friendly, helpful staff. Go check them out. http://www.oanda.sg/
  • #20
  • Oct 28, 2011 1:53am Oct 28, 2011 1:53am
Quoting wcchan
Oanda is the best; forget the rest. They have an office in Singapore, friendly, helpful staff. Go check them out. http://www.oanda.sg/

Second best after a REAL BROKER, not a market maker , www.lmaxtrader.co.uk
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