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  • #1
  • First Post: Jun 15, 2008 5:51am Jun 15, 2008 5:51am
Hi,

I am quite new to forex. Currently I am using easyforex.com as my forex broker. I am looking for a forex broker that is among the best and can provide mini account of about USD200-USD250...

I have read reviews about some forex brokers and finally not helping me to decide but made me hard to choose which one is the best,

Actually I want to use interbankfx.com as my forex broker at first, but a lots of people comment bad things about this broker. So I am confuse now... maybe you guys can recommend me...

I also have read review about Alpari Uk, but I don't like their deposit and withdraw technique which disallow using creditcard/debit card.... I mean if I am using bank transfer, USD30 will be charges right, (I am using mini account only)

so anybody can recommend me any best broker?
  • #2
  • Jun 15, 2008 6:38am Jun 15, 2008 6:38am
for that amount u can go with any broker and will not get any big difference between one and another...
  • #3
  • Jun 15, 2008 8:21am Jun 15, 2008 8:21am
Oanda and deposit by using paypal to safe the fee
  • #4
  • Jun 15, 2008 9:17am Jun 15, 2008 9:17am
there are best broker that give even micro account you can find the site
  • #5
  • Jun 15, 2008 10:03am Jun 15, 2008 10:03am
you can also try deltastock
Twitter: @forexpokerpro
  • #6
  • Jun 15, 2008 9:00pm Jun 15, 2008 9:00pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting newbiefx
Hi,

I am quite new to forex. Currently I am using easyforex.com as my forex broker. I am looking for a forex broker that is among the best and can provide mini account of about USD200-USD250...

I have read reviews about some forex brokers and finally not helping me to decide but made me hard to choose which one is the best,

Actually I want to use interbankfx.com as my forex broker at first, but a lots of people comment bad things about this broker. So I am confuse now... maybe you guys can recommend me...

I also have read review about Alpari Uk, but I don't like their deposit and withdraw technique which disallow using creditcard/debit card.... I mean if I am using bank transfer, USD30 will be charges right, (I am using mini account only)

so anybody can recommend me any best broker?

doesnt matter where you go. trading minilot on 250 account you will lose anyway. these broker offers are the oldest trap in forex. Avoid broker with such behaviour

just my 2 cents
  • #7
  • Edited 3:07am Jun 16, 2008 2:39am | Edited 3:07am
Quoting onu
doesnt matter where you go. trading minilot on 250 account you will lose anyway. these broker offers are the oldest trap in forex. Avoid broker with such behaviour

just my 2 cents
I have been with IBFX for 2 years and they are very good. If you make deposits or take out profits it has always been done the same day or the next morning. If you are a news trader you will not like them because they widen their spreads at newstime but other than that they have been good to me. If you are a non news scalper, medium or long term trading they will meet your needs. News trading is the only thing I would not recommend them for.

To the guy who posted 250 bucks is a trap is very foolish. If you cant make money using 250, you think you will make money if you deposit 10,000 or 100,000. A person who trades 1.00 a lot with 250 dollars and loses 25 points on a trade loses 25.00 dollars. A person who trades 1.00 lot with a 10,000 and has a trade lose of 25 points loses 25.00 dollars. So whats the difference? If you say the first one lost 10% of his account is a very bad trader and the second only lost .0025% of an account so he/she is a good trader is a very dumb argument. They both lost 25 bucks, no difference. The big difference is the 250 dollar account is protected better from dishonesty because that is all he/she can ever lose. The other guy chances 10,000.

Beginner traders should trade with small sums like .01 or .10 cent lots until they learn the business. If you cant win with .01 trades why do you think you will win with 1.00 trades. So trade with .01 until you get good. Losing 1.00 on a hundred point loss using .01 trades is a lot easier to take than 100 dollars on a 100 pip loss using a 1.00 a pip.

So dont listen to this stuff about trading with 250 bucks is bad. Take the time to properly learn the business. If you can double a 250 dollar account using nickels and dimes then maybe you are ready for bigger things. If not 1.00 trade wipes out an account after 250 pips. .10 trade wipes out an account after 2500 pips .01 wipes out an account after 25000 pips. That is a lot of learning 25000 pips. If you cant be profitable after losing 25000 pips then maybe trading is not for you and you only lost 250 bucks and you got yourself a cheap education.

IBFX is an excellent place to go learn but dont play the stupid blame the broker game for your bad trading. Once I learned trading, and yes there is a price to pay to learn, I began making profits and IBFX has always paid me when I asked for my money. Took me 1 year to learn to use only pennies, took me less than 1 year with pennies to make profits. My second year was much more rewarding than my first year. You cant get rid of the learning curve so dont let your education cost you thousands of dollars, when 250 bucks will do.

So how much do you want to pay for your education 250, 2500 or 25000 dollars, the choice is yours.
  • #8
  • Jun 16, 2008 5:03am Jun 16, 2008 5:03am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting nanningbob
I have been with IBFX for 2 years and they are very good. If you make deposits or take out profits it has always been done the same day or the next morning. If you are a news trader you will not like them because they widen their spreads at newstime but other than that they have been good to me. If you are a non news scalper, medium or long term trading they will meet your needs. News trading is the only thing I would not recommend them for.

To the guy who posted 250 bucks is a trap is very foolish. If you cant make money using 250, you think you will make money if you deposit 10,000 or 100,000. A person who trades 1.00 a lot with 250 dollars and loses 25 points on a trade loses 25.00 dollars. A person who trades 1.00 lot with a 10,000 and has a trade lose of 25 points loses 25.00 dollars. So whats the difference? If you say the first one lost 10% of his account is a very bad trader and the second only lost .0025% of an account so he/she is a good trader is a very dumb argument. They both lost 25 bucks, no difference. The big difference is the 250 dollar account is protected better from dishonesty because that is all he/she can ever lose. The other guy chances 10,000.

Beginner traders should trade with small sums like .01 or .10 cent lots until they learn the business. If you cant win with .01 trades why do you think you will win with 1.00 trades. So trade with .01 until you get good. Losing 1.00 on a hundred point loss using .01 trades is a lot easier to take than 100 dollars on a 100 pip loss using a 1.00 a pip.

So dont listen to this stuff about trading with 250 bucks is bad. Take the time to properly learn the business. If you can double a 250 dollar account using nickels and dimes then maybe you are ready for bigger things. If not 1.00 trade wipes out an account after 250 pips. .10 trade wipes out an account after 2500 pips .01 wipes out an account after 25000 pips. That is a lot of learning 25000 pips. If you cant be profitable after losing 25000 pips then maybe trading is not for you and you only lost 250 bucks and you got yourself a cheap education.

IBFX is an excellent place to go learn but dont play the stupid blame the broker game for your bad trading. Once I learned trading, and yes there is a price to pay to learn, I began making profits and IBFX has always paid me when I asked for my money. Took me 1 year to learn to use only pennies, took me less than 1 year with pennies to make profits. My second year was much more rewarding than my first year. You cant get rid of the learning curve so dont let your education cost you thousands of dollars, when 250 bucks will do.

So how much do you want to pay for your education 250, 2500 or 25000 dollars, the choice is yours.
Nice trap broker promo....does industry paying well?
Read the first post twice before calling me foolish. You have no idea about basics of trading !
Again, avoid such broker when you intent to trade with minilot. You get wiped out in no time......for beginner its way safer to start with microlot on such account size.
  • #9
  • Jun 16, 2008 7:29pm Jun 16, 2008 7:29pm
Quoting onu
Nice trap broker promo....does industry paying well?
Read the first post twice before calling me foolish. You have no idea about basics of trading !
Again, avoid such broker when you intent to trade with minilot. You get wiped out in no time......for beginner its way safer to start with microlot on such account size.
Its very simple guy. The prices are quoted all around the world, at banks, newspapers, financial institutions, etc. If a dealer was not quoting prices within a couple of pips of what the rest of world was quoting you could take them to court for fraud and other various charges. It would be one of the easiest things to prove. Since that has not happened you accusations are just sour grapes. IBFX quotes in real time, how do I know, I checked. I downloaded dozens of different company platforms, includes others then MT4 and found out that they all were within a couple of pips from each other. When price moved they moved. The difference is some have have better software, computer servers, and systems than others and some will react faster than others. IBFX and other brokers highs are the same as posted highs and their lows were posted lows. Once you learn to blame your self for your bad decisions and not some broker you can become a successful trader. So face the facts. A large company like IBFX uses computers to handle trades. There is noone in an office looking at your little 250 dollar account and trying to manipulate price so you can lose money. First of all they could not hire enough people to handle the 10's of thousands of accounts to do that. 2nd to hire that many people would not make their business profitable. 3rd if you had hundreds/thousands of people doing that someone would be talking on how they did it, it could not be kept a secret. So quit blaming the broker for your bad decisions. I make money at this and I have used IBFX for over 2 years. I gave an honest appraisal of them. If you are a news trader, they arent for you. If you do other types of trading they are very good. I speak from long time experience not just some stupid accusation that you use to cover all dealers. There are honest people out there who run legitimate businesses, I trust IBFX with my money, well at least up to 1000 and then I take it out, my profit, and build it up again. It provides a simple PT income for me.
  • #10
  • Jun 16, 2008 9:01pm Jun 16, 2008 9:01pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting nanningbob
Its very simple guy. The prices are quoted all around the world, at banks, newspapers, financial institutions, etc. If a dealer was not quoting prices within a couple of pips of what the rest of world was quoting you could take them to court for fraud and other various charges. It would be one of the easiest things to prove. Since that has not happened you accusations are just sour grapes. IBFX quotes in real time, how do I know, I checked. I downloaded dozens of different company platforms, includes others then MT4 and found out that they all were within a couple of pips from each other. When price moved they moved. The difference is some have have better software, computer servers, and systems than others and some will react faster than others. IBFX and other brokers highs are the same as posted highs and their lows were posted lows. Once you learn to blame your self for your bad decisions and not some broker you can become a successful trader. So face the facts. A large company like IBFX uses computers to handle trades. There is noone in an office looking at your little 250 dollar account and trying to manipulate price so you can lose money. First of all they could not hire enough people to handle the 10's of thousands of accounts to do that. 2nd to hire that many people would not make their business profitable. 3rd if you had hundreds/thousands of people doing that someone would be talking on how they did it, it could not be kept a secret. So quit blaming the broker for your bad decisions. I make money at this and I have used IBFX for over 2 years. I gave an honest appraisal of them. If you are a news trader, they arent for you. If you do other types of trading they are very good. I speak from long time experience not just some stupid accusation that you use to cover all dealers. There are honest people out there who run legitimate businesses, I trust IBFX with my money, well at least up to 1000 and then I take it out, my profit, and build it up again. It provides a simple PT income for me.

You still dont get it.....it was not asked whom you trust, who cares?
newbiefx wrote: "....can provide mini account of about USD200-USD250..."
Maybe you dont know what a minilot is? I try to beware a beginner to step in the forex and fail badly by trading with to big lotsize on way to small account size. Basic rule is 10.000 $ acc.size/ 1.0 lot(=100.000 $) In this case minimum account size should be 1.000 $. Or even safer for newbie would be to start with micro or nano lot.
BTW i m pretty experienced (trading for a living since 2003) and succsessful trader/ account manager. Nonstop ranked in top 10 on Varengoldbank challenge
Broker who offer 250$ acc. to trade mini lot are fatal for unexperienced trader
  • #11
  • Jun 17, 2008 2:37am Jun 17, 2008 2:37am
Quoting onu
You still dont get it.....it was not asked whom you trust, who cares?
newbiefx wrote: "....can provide mini account of about USD200-USD250..."
Maybe you dont know what a minilot is? I try to beware a beginner to step in the forex and fail badly by trading with to big lotsize on way to small account size. Basic rule is 10.000 $ acc.size/ 1.0 lot(=100.000 $) In this case minimum account size should be 1.000 $. Or even safer for newbie would be to start with micro or nano lot.
BTW i m pretty experienced (trading for a living since 2003) and succsessful trader/ account manager. Nonstop ranked in top 10 on Varengoldbank challenge
Broker who offer 250$ acc. to trade mini lot are fatal for unexperienced trader

Well, sorry guy, but with IBFX, the micro and mini are the same accounts, you just change the amount of the trade .01 to .10 to get the difference. Her question was she wanted to know where she could trade and you condemned the whole lot of them. I am not going to do that. She can trade with 250 bucks at IBFX or other dealers and she can choose to trade .01, .10, 1.00 if she wants. I gave good advice on how to trade that way and that is what those accounts are for practicing. I can go for months trading with 250 bucks and they are not fatal. There are thousands of us who cut our teeth on such accounts and now we can make bigger earnings. An inexperienced trader will lose their money whether they have a 250 account 1000 account or a 100,000 account. Every person goes through the learning process and that costs money. That is not the issue. The issue is where can you go to learn and companies like IBFX and others provide an inexpensive way to do that. No one and I mean no one should be going to some big shot dealer with 10's of thousands of dollars without having done their homework and practice first. You maybe a so called experienced trader but you are a lousy teacher encouraging a newbie to put thousands into something they are inexperienced at. That is just bad advice. Period. If you cant trade successfully with pennies, you cant trade with dimes, dollars, or 100 dollar lots either. You have yet to give one good reason why he/she should risk thousands of dollars to learn forex trading when he/she can do with 250. There is no sound logic to your reasoning. I can vouch that IBFX is a reputable dealer, I have made profit and lost with them but that is not their fault, it is my trades.
  • #12
  • Jun 17, 2008 2:46am Jun 17, 2008 2:46am
Quoting onu
You still dont get it.....it was not asked whom you trust, who cares?
yes it was and here is the quote

so anybody can recommend me any best broker?

I can recommend IBFX, I have been with them for 2 years and am now making money. They accept credit cards, the reason many companies dont accept credit cards is you can get a charge back in a dispute. Reputable companies will take credit cards because they dont fear charge backs. Shadier brokers wont or cant qualify, so if you choose someone make sure they can accept a credit card. A credit card is the only way to protect your deposit at least for the first 30 days.
  • #13
  • Jun 17, 2008 9:27am Jun 17, 2008 9:27am
hello,

wow, thank for all of you, Now i prefer to open interbank Fx account at then end of this month... Furthermore i enjoy play the demo account from interbank Fx.

thanks again....

currently I am using etoro, although a lots of slippery when i want to close trade but i still earns some money that double my deposit.... but soon i will use Interbank fx.

Regards,

Now I;m part of this volatile world!
  • #14
  • Dec 7, 2008 4:11pm Dec 7, 2008 4:11pm
Quoting nanningbob
I have been with IBFX for 2 years and they are very good. If you make deposits or take out profits it has always been done the same day or the next morning. If you are a news trader you will not like them because they widen their spreads at newstime but other than that they have been good to me. If you are a non news scalper, medium or long term trading they will meet your needs. News trading is the only thing I would not recommend them for.

To the guy who posted 250 bucks is a trap is very foolish. If you cant make money using 250, you think...
Being a newbie myself, it helps when experience traders like nanningbob take time to explain certain critical concepts like the above. Thanks.
It is toooo eazee
  • #15
  • Jan 16, 2009 10:42pm Jan 16, 2009 10:42pm
Have been demoing for about a year mostly with IBFX. Find them good compared to other brokers platform that I tried. However, when I decided to open a live account with them I find the procedure annoying as I have to fill in questionnaires of about 10 pages of personal details and financial status to qualify. As I do not have all answers at hand and some questions, I can't proceed to the next page. So, I had to start all over again each time I got stuck and after getting advice from the online chat, (almost 90% of the time the line is cut and have to get link again to continue my form). To complain about their service from chat team but its irritating going back and forth just to fill out forms and until now since 2 days ago managed to fill up less than 5 of the forms. When I get started again, 3/4 of the info, already filled are blanks, I've done this within the same 4 hours 3 to 4 times until I call it quits. My anticipation to continue with the task put me off.One of the pages required to fill in employment, since I'm retiree, I still had to fill in as if am applying for job before I can proceed to the next, after chating, was advised to give a rough estimation which I passed and was stuck again at the page regarding financial status. For this had to give name and address of bank, had several accounts with different banks for convenience, anyone that I give will not qualify me cos am supposed to fill in my monthly income which I do not have to show in any single bank account. Am required my net worth, etc, etc as if I am applying for immigration. I hesitated, am back to square one (meaning have to start filling those forms again from page 1. So I stopped filling in the forms - HAVE TO TAKE A BREAK. Am really discouraged as the following pages require to know my investments background, etc, etc, etc.Had been at it for the last few days. What a way to start a New Year.So, anyone know of equally good broker using MT4, pls recommend.Am only trying to make some income as I will initially be investing only about 2K if they are trying to protect investors interest that do not lose what they can't afford.
  • #16
  • Jan 17, 2009 12:44am Jan 17, 2009 12:44am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting Blessed Pips
Have been demoing for about a year mostly with IBFX. Find them good compared to other brokers platform that I tried. However, when I decided to open a live account with them I find the procedure annoying as I have to fill in questionnaires of about 10 pages of personal details and financial status to qualify. As I do not have all answers at hand and some questions, I can't proceed to the next page. So, I had to start all over again each time I got stuck and after getting advice from the online chat, (almost 90% of the time the line is cut and have...
LOL i made the same bad experience with these suckers. A pure nightmare! Stay away from them and read on the forum about her bad reputation. I canceled my live acc after reading all this. I trade with alpari (UK), activtrades (UK) and testing too gotrader (AUS).
Good luck!
  • #17
  • Edited 5:39pm Jan 17, 2009 5:38pm | Edited 5:39pm
Quoting onu
LOL i made the same bad experience with these suckers. A pure nightmare! Stay away from them and read on the forum about her bad reputation. I canceled my live acc after reading all this. I trade with alpari (UK), activtrades (UK) and testing too gotrader (AUS).
Good luck!
I've been with IBFX for a year now and have had NO problems. I regularly withdraw money from my account each week and it is promptly processed and free of fees! Everyone is free to complain about or vouch for whatever broker they want for whatever reason they want. For me and my money, I'll stay with IBFX.
  • #18
  • Last Post: Jan 21, 2009 1:43am Jan 21, 2009 1:43am
Thanks for your response. Have you actually had a live account with IBFX yourself and then with the bad experience decided to cancel or because of reading from others experience? My experience so far on demo is not that bad. I just hate having to fill in the forms which cost me a few days of anxiety and came to naught with all the hazzle. I thot o opening account with Alpari UK too but I heard that they are not so financially sound and slow execution, etc. Also am worried that I have to fill in those tedious application forms. From your experience with both re filling in of application forms, any difference? Actually, like the extras on the ibfx platform with their pivot points, etc and more to come.

Bye and Happy Pipping!
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