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Best broker for me?

  • #1
  • First Post: Edited Jan 21, 2010 10:33am Jan 15, 2010 12:50pm | Edited Jan 21, 2010 10:33am
Hi. I know that there is so much topics like this one... but all of us have different needs... i just wonna to play without the stress that due to the incompetence of MM, platform or other mechanical things...

- Low Deposit - like around max. $450 USD
- Accept EU residents
- Relative fairness, fair spreads and pricing
- MT4, but not necessary...
- Relative good reviews
- Easy creating account (preferably without having to send documents by post)
- Good for forex newcomer.

What can you recommend?
Thanks in advance na sorry for my english.
  • #2
  • Jan 21, 2010 10:46am Jan 21, 2010 10:46am
Yes .. That silence is very significant. I made some research and brokers which was pretty nice and had good opinions got terrible high (for me) fee for withdraw (for example oanda). Paying 30USD or EUR for any cashout of 30$ is a mistake .

So. Can you recommend something for newcommer to forex, with 500$ and without those strange fee (mooneybooker's or paypal would be great)? It could be just everyting relatively fair, but i wish to withdraw once a month some cash (not too much, around 3-7% of account balance) and would like see that the transaction has not been charged relatively high for the payments fees.

I was thinking about fxpro, but opinions about them on this and other forums is very much diversified...

Thanks for any advice.
  • #3
  • Jan 21, 2010 11:26am Jan 21, 2010 11:26am
Quoting flc
Yes .. That silence is very significant. I made some research and brokers which was pretty nice and had good opinions got terrible high (for me) fee for withdraw (for example oanda). Paying 30USD or EUR for any cashout of 30$ is a mistake .

So. Can you recommend something for newcommer to forex, with 500$ and without those strange fee (mooneybooker's or paypal would be great)? It could be just everyting relatively fair, but i wish to withdraw once a month some cash (not too much, around 3-7% of account balance) and would like see that the transaction...
FXDD has most of what you're looking for (not sure about EU residents, but I presume that's fine). Re. withdrawals, they don't charge any fee for wire withdrawals, which is a great benefit obviously. Every other broker I know of charges at least $20 to wire a withdrawal.

It might be different for international wires I'm not sure, but in general suggest you just go onto live chat with one of their reps and ask away...
  • #4
  • Edited 12:31pm Jan 21, 2010 11:43am | Edited 12:31pm
ActivTrades is what you might be looking for. Payment via wire transfer takes 2-3 days from Germany, no fees. Withdraw is also very fast - ~7 EUR fee, but taken by the bank, not ActivTrades.

Broker is regulated by British laws, bank account is seperated from brokers capital at Barclays Bank, London, and so secured in case of bankruptcy.

Opening of account from $250 or 250 EUR, 0.01 micro lots, scalping allowed, offers some CFDs as well, leverage up to 1:400.

Edit: Sending documents is always necessary if you are chosing a reliable broker. But most of them accept it as scanned email attachement.
  • #5
  • Jan 21, 2010 2:00pm Jan 21, 2010 2:00pm
FXCM Micro meets your requirements nicely...
  • #6
  • Jan 21, 2010 5:51pm Jan 21, 2010 5:51pm
Thanks for answers.

FXDD.

Quote
How do I withdraw funds from my account? Download the Funds Redemption Form. The FXDD Funds Redemption form needs to be filled out and submitted by FAX to: +1.212.937.3845. Please note, US federal law prohibits FXDD from redeeming funds to a bank account or person that is different than the name and account used to open the account


Erm.. searching for somebody with fax every withdrawal... sounds bad


Activtrades.


Quoting adamp
ActivTrades is what you might be looking for. Payment via wire transfer takes 2-3 days from Germany, no fees. Withdraw is also very fast - ~7 EUR fee, but taken by the bank, not ActivTrades.
Not exacly:
Quote
Withdrawals from your trading account cost:

    1. Free of charge GBP BACS transfers /i'm not from GB/
    2. £15 GBP CHAPS
    3. $25 for USD wires
    4. €6 for SEPA wires in EUR
    5. €17.50 for urgent transfers in EUR
    6. CHF27 for CHF wires

FXCM have only one star on forexpeacearmy.com and many negative opinions. Is it really worth of it?
  • #7
  • Jan 21, 2010 6:50pm Jan 21, 2010 6:50pm
Quoting flc
Thanks for answers.

FXDD.




Erm.. searching for somebody with fax every withdrawal... sounds bad

You can also scan the form and email it, which is what I do.

Honestly, locating a fax/scanner is a small price to pay for getting a free wire from a broker. If doing that costs you less than $20-$25 (typical wire fees from other brokers) then you're coming out ahead. Sounds like you might be overemphasizing what amounts to a minor detail. If this is the biggest problem you ever have, count yourself fortunate!
  • #8
  • Apr 6, 2010 11:09pm Apr 6, 2010 11:09pm
Quoting adamp
ActivTrades is what you might be looking for. Payment via wire transfer takes 2-3 days from Germany, no fees. Withdraw is also very fast - ~7 EUR fee, but taken by the bank, not ActivTrades.

Broker is regulated by British laws, bank account is seperated from brokers capital at Barclays Bank, London, and so secured in case of bankruptcy.

Opening of account from $250 or 250 EUR, 0.01 micro lots, scalping allowed, offers some CFDs as well, leverage up to 1:400.

Edit: Sending documents is always necessary if you are chosing a reliable broker. But...
Hi adamp,

How long you've been using ActivTrades? You have a live account right? Could you share your experiences with them?

I've been trying their demo account for around 2 weeks now and I like it. I really interested in their Interbank Account. The spreads are really good. For GBPUSD is 2.6 and EURUSD is 1.6 and the best part is, it barely move/float
I'm really looking forward for this broker. Hope they really good. And yes, I like UK brokers just because of those regulations.

Cheers...
  • #9
  • Apr 7, 2010 4:53am Apr 7, 2010 4:53am
Really mate, try FX Open, they are so easy to open an account with.
  • #10
  • Last Post: May 12, 2010 5:04am May 12, 2010 5:04am
Quoting a2xm
Hi adamp,

How long you've been using ActivTrades? You have a live account right? Could you share your experiences with them?

I've been trying their demo account for around 2 weeks now and I like it. I really interested in their Interbank Account. The spreads are really good. For GBPUSD is 2.6 and EURUSD is 1.6 and the best part is, it barely move/float
I'm really looking forward for this broker. Hope they really good. And yes, I like UK brokers just because of those regulations.

Cheers...
I've been using ActivTrades for several years and they are actually very2 good. No problem at all so far... If you're a scalper better open interbank account with them. Good luck!
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