The neverending question -- Best Broker | Forex Factory

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The neverending question -- Best Broker

  • #1
  • First Post: Nov 1, 2005 11:32am Nov 1, 2005 11:32am
So after doing some research, I have finally narrowed my search down to two: CMS Forex or FX Solutions. What I want to know now is which is better?

Here are the things I like and disklike about them:

1. CMS Forex - I love the VTTrader platform. It's very easy to use, very customizable, and allows for on-the-chart trading. A lot of indicators and studies with the ability to add custom indicators. I can trade the AutoPilot, some sort of their automated system, although I never seen it since I use the demo account. The things I do not like is that during my 2 months trading with them, I have experienced downtime. I was not able to use the client for hours at a time, and sometimes the charting package simply did not work. I would not want that happening when I have a live trade open. They do not have trailing stops or alerts that send an E-Mail or SMS. Also, no micro lots.

2. FX Sol - I have been trying FX Sol for only 2 weeks and am not completely familiar with its software. I love their order executions, multiples stop/limit orders, and traling stops. FlexiContract is also a very big thing, because I would want to trade micro lots at first (Thanks Dial for your advice). I do not like its charting. One, it lacks indicators (I use Par Sar in my "system" and it does not have it). When I try to save a certain scheme, it always reverts back or changed when I exit the program. For instance, my 50 EMA dissapears after I close the system down, and I have to add it again. But then again, maybe there is something I am doing wrong. One thing I like about their charting ispattern recognition.

So which one is it? I want to hear opinions of people who actually use one or the other?

I'm thinking that I can use CMS's VTTrader for charting and FXSol for actual trading. I was keeping an eye on the price feeds and noticed that so far they are identical.

Appologize for a long post.

Thanks,

Roman
~If you fail to plan, you plan to fail~
  • #2
  • Nov 1, 2005 8:34pm Nov 1, 2005 8:34pm
i use neither of them....but i knw...u cn't save chart layouts in fxsol...because they use java based charts ..which refresh everytime u log in or out and so nothing gets saved...not even the last currency pair u were veiwing. so u have to make ur templates and add the indicators everyday. i am pretty sure about this...but i may be missin something. otherwise they are a well managed and respectible company.

CMS i have no clue about

hope it helps
gabroo
and i grow...pip by pip.......pip by pip!!!!
  • #3
  • Nov 1, 2005 11:37pm Nov 1, 2005 11:37pm
they are both really good brokers imho, ive traded with both for some time. why not try them both? for numerous reasons, its always good to have more than one account.
Relax and be happy.
  • #4
  • Nov 16, 2007 7:37am Nov 16, 2007 7:37am
Quoting gcl915
So after doing some research, I have finally narrowed my search down to two: CMS Forex or FX Solutions. What I want to know now is which is better?

Here are the things I like and disklike about them:

1. CMS Forex - I love the VTTrader platform. It's very easy to use, very customizable, and allows for on-the-chart trading. A lot of indicators and studies with the ability to add custom indicators. I can trade the AutoPilot, some sort of their automated system, although I never seen it since I use the demo account. The things I do not like is that during my 2 months trading with them, I have experienced downtime. I was not able to use the client for hours at a time, and sometimes the charting package simply did not work. I would not want that happening when I have a live trade open. They do not have trailing stops or alerts that send an E-Mail or SMS. Also, no micro lots.

2. FX Sol - I have been trying FX Sol for only 2 weeks and am not completely familiar with its software. I love their order executions, multiples stop/limit orders, and traling stops. FlexiContract is also a very big thing, because I would want to trade micro lots at first (Thanks Dial for your advice). I do not like its charting. One, it lacks indicators (I use Par Sar in my "system" and it does not have it). When I try to save a certain scheme, it always reverts back or changed when I exit the program. For instance, my 50 EMA dissapears after I close the system down, and I have to add it again. But then again, maybe there is something I am doing wrong. One thing I like about their charting ispattern recognition.

So which one is it? I want to hear opinions of people who actually use one or the other?

I'm thinking that I can use CMS's VTTrader for charting and FXSol for actual trading. I was keeping an eye on the price feeds and noticed that so far they are identical.

Appologize for a long post.

Thanks,

Roman
well, from my own perspective, though i have used fxsol trading platform before both demo and live and really love them, i think you can go for fxsol as they have hedging capabilities, trailing stops etc (havent tried cmc bfore though). you can just look for a meta4 trading station which displays thesame quotes as that on fxsol them load you templates and all the bla bla and bla on it and use it as your chart. as you've said, fxsol's charting has pattern identifications etc. just a suggestion. you have your power of choice. thank you.
  • #5
  • Nov 16, 2007 8:53am Nov 16, 2007 8:53am
I think the correct answer comes depending what strategy are you planing to use.

If you want to scalp or do some short term trades, I would recommend you run away of both, and chose one with better spread like an ECN, Oanda or FXCM. I have a live account with the last and very happy with them, their customer service is awesome. I also have a live account in CMS, and if you got bothered by downtime in the demo, wait for the live account je je je, it's worse than the demo, I get disconnected at least 10 times a day, and the orders take a lot of time to be executed sometimes more than a minute, and also get a lot of requotes.

On the other hand, if you are a medium-long term trader, i guess spread and execution is not that important, 1-2 pips more and a delayed entry is not an issue since you plan to leave the position hours, days or months. If that's the case, maybe CMS, FXSol, or others can be also a good option. The FXSol accucharts are very nice in my opinion.
Ado Whether you believe you can do a thing or not, you are right.
  • #6
  • Nov 16, 2007 9:12am Nov 16, 2007 9:12am
Quoting Ado
If you want to scalp or do some short term trades, I would recommend you run away of both, and chose one with better spread like an ECN, Oanda or FXCM.
FXCM for scalping...?
"I say high, You say low, You say why, and I say I don't know..."
  • #7
  • Nov 16, 2007 9:51am Nov 16, 2007 9:51am
Quoting Ricardo.
FXCM for scalping...?
Yes, GBP/JPY, I like the one click execution, I get filled always inmediately, and can jump out as fast as entered. And as I said, their customer service is very good, in a couple of times, they called me by phone to help me with some doubts (after opened the account, maybe all brokers would do that before to convince you to join, but I wonder if they behave the same after you are in the trap je je je).

I'm opening an Oanda account next days because their spread is lower, and let's see how the things go.
Ado Whether you believe you can do a thing or not, you are right.
  • #8
  • Last Post: Edited Nov 28, 2007 3:20pm Nov 17, 2007 11:35pm | Edited Nov 28, 2007 3:20pm
For managed forex accounts, I recommend { Links removed }
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