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Looking for reliable FX Brokers...

  • #1
  • First Post: Oct 5, 2009 6:31am Oct 5, 2009 6:31am
Hello seniors and all,

I have 6 months experience in Forex market (Demo MT4). I decided to open live account but looking for Forex brokers who are reliable.

I am going for micro account - $200
I am from India.

Please help me out in identifying good brokers.

Thank You.

Cheers
Gils
  • #2
  • Oct 5, 2009 11:11am Oct 5, 2009 11:11am
I've used GFT for years with no trouble. Withdrawals are always timely.
There's always money in the banana stand.
  • #3
  • Oct 5, 2009 11:24am Oct 5, 2009 11:24am
Same here. I've used GFT for 4 years and have not had any trouble. They are reliable and deposits and withdrawals are timely. GFT also offers trading in India (Dubai http://www.gftarabic.com/). But before we go referring brokers, what are you looking for in a broker?
  • #4
  • Oct 5, 2009 11:33am Oct 5, 2009 11:33am
Oanda and FXDD are good. Both are reliable, fast withdrawls and accept paypal. Minimun account in FXDD is U$ 250 and can trade microlots.
  • #5
  • Oct 6, 2009 2:33am Oct 6, 2009 2:33am
Quoting LizardGizzard
I've used GFT for years with no trouble. Withdrawals are always timely.
Thank you Liz for your comments. Is GFT a MT4 Platform? as i am using MT4.

Cheers
Gils
  • #6
  • Oct 6, 2009 2:39am Oct 6, 2009 2:39am
Quoting tiagor33
Oanda and FXDD are good. Both are reliable, fast withdrawls and accept paypal. Minimun account in FXDD is U$ 250 and can trade microlots.
Hi Tiagor,

I am going to invest 200$ and Oanda is it a MT4 Platform? What is the difference between MT4 Platform and other platform say GFT ?

Cheers
Gils
  • #7
  • Oct 6, 2009 11:46am Oct 6, 2009 11:46am
Quoting Gils
Hi Tiagor,

I am going to invest 200$ and Oanda is it a MT4 Platform? What is the difference between MT4 Platform and other platform say GFT ?

Cheers
Gils
Hi Gils,

Oanda has their own platform. I have tried their demo and it appears that they have a web/java - based platform. (Please anyone correct me if I am wrong).

I remember another post on FF where someone was trying to integrate MT4 with Oanda, but I am not sure if they were successfule. Here is the linke to the post I am referring to:
http://www.forexfactory.com/showthread.php?t=10133

GFT has two means of trading that I am aware of. They are
1. DealBook Web
2. DealBook 360

Dealbook Web is a web based trading platform where you do not need to download anything. You basically trade off of their website.

Dealbook 360 is a program you need to download and install onto your computer and run in order to set up trades.

Hope this helps.
  • #8
  • Oct 6, 2009 12:01pm Oct 6, 2009 12:01pm
Dont even THINK about FXDD unless you're gonna use their FXDD Currenex PowerTrader Platform (The Scalper Gold Standard) - http://www.forexpeacearmy.com/public...w/www.fxdd.com
  • #9
  • Oct 6, 2009 4:10pm Oct 6, 2009 4:10pm
Quoting Fulltime247
Dont even THINK about FXDD unless you're gonna use their FXDD Currenex PowerTrader Platform (The Scalper Gold Standard) - http://www.forexpeacearmy.com/public...w/www.fxdd.com
what is the problem with FXDD? All brokers have bad reviews in FPA, look FXCM reviews there.
  • #10
  • Oct 6, 2009 4:52pm Oct 6, 2009 4:52pm
Quoting Gils
I am going to invest 200$ and Oanda is it a MT4 Platform?
Oanda is non Mt4. Oanda, Alpari UK Fxpro will be ok for you

P.S.1 I think minimum for Alapari Uk Mini is 250$. Any way check out their site!
P.S.2 Better Demo trade with 200$ and think ist as your own money. Save some more money then start with discipline with Strategy and with good consistent demo results.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #11
  • Oct 7, 2009 1:41am Oct 7, 2009 1:41am
Quoting nickester
Hi Gils,

Oanda has their own platform. I have tried their demo and it appears that they have a web/java - based platform. (Please anyone correct me if I am wrong).

I remember another post on FF where someone was trying to integrate MT4 with Oanda, but I am not sure if they were successfule. Here is the linke to the post I am referring to:
http://www.forexfactory.com/showthread.php?t=10133

GFT has two means of trading that I am aware of. They are
1. DealBook Web
2. DealBook 360

Dealbook Web is a web based trading platform where...
Hello Nickester,

Thanks for your knowledge share. I got an idea about the web based trading platform and installation trading platform.

What is your trading platform? and may i know what broker you are using?

Cheers
Gils
  • #12
  • Oct 7, 2009 6:57am Oct 7, 2009 6:57am
Quoting Gils
Hello Nickester,

Thanks for your knowledge share. I got an idea about the web based trading platform and installation trading platform.

What is your trading platform? and may i know what broker you are using?

Cheers
Gils
I am fairly new to the forex scene and was exploring my options. One of the hardest things I noticed for myself (or any new trader) is that there is an unusually large volume of brokers available for picking. This creates a a great deal of confusion as it did for me. Reading forums and reviews just drove me nuts trying to understand why one person liked a particular broker while another one didnt.

What I finally did, and I suggest you do the same, is to pick a few that are mentioned frequently among the forums and sign up for a demo account. Test it out for a few days/weeks/months and then choose.

I approached it in this manner and found GFT to my liking. I actually created a live account fairly recently after testing them out for about 2 months. The reason I chose them over other brokers was for two reasons.

1. I work during the morning hours 7 am -4 pm EST and so I wanted a web based broker since my employer does not allow me to install programs on the work computer.

2. I found their layout to be very simplistic

I will hold on to them for a while and see where it goes.

Hope you find broker that fits your needs.
  • #13
  • Oct 13, 2009 6:06am Oct 13, 2009 6:06am
Quoting forexsaint
Oanda is non Mt4. Oanda, Alpari UK Fxpro will be ok for you

P.S.1 I think minimum for Alapari Uk Mini is 250$. Any way check out their site!
P.S.2 Better Demo trade with 200$ and think ist as your own money. Save some more money then start with discipline with Strategy and with good consistent demo results.
Hi Forexsaint,

I am concerned about the withdrawal fees bank charge. ie international transaction wire transfer. How much do the bank charge in USD? Do you know? Some saying 35$ some 25$ and some 10$ and i am confused.

Regards
Gils
  • #14
  • Oct 13, 2009 9:49am Oct 13, 2009 9:49am
Quoting Gils
Hi Forexsaint,

I am concerned about the withdrawal fees bank charge. ie international transaction wire transfer. How much do the bank charge in USD? Do you know? Some saying 35$ some 25$ and some 10$ and i am confused.

Regards
Gils
Email them.. they are quick in that support if you have same time zone.
I think its not in $ its 15Pounds But nothing if you are in uk.. Its different depending upon where your bank account is . Proof is Attached

Hope that helps
Attached File(s)
File Type: pdf Copy of Withdrawal_form- ORIGINAL.pdf   84 KB | 715 downloads
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #15
  • Oct 14, 2009 1:59am Oct 14, 2009 1:59am
Quoting forexsaint
Email them.. they are quick in that support if you have same time zone.
I think its not in $ its 15Pounds But nothing if you are in uk.. Its different depending upon where your bank account is . Proof is Attached

Hope that helps
Thank you forexsaint for your sharing, i will check with the broker about the withdrawal fee.

By the way, i am going for Tadawul FX broker, as i am demoing for the last 5 months with them.

Regards
Gils
  • #16
  • Last Post: Edited 2:35am Oct 14, 2009 2:25am | Edited 2:35am
Quoting Gils
By the way, i am going for Tadawul FX broker, as i am demoing for the last 5 months with them.
They are BullShit with their spreads ! and a lot more.
I am not advising Alpari UK Either !They have also gone berserk with their dirty games.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
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