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MT4 favorite Brokers - as low as 1 Pip spreads

  • #181
  • Jul 20, 2010 11:22pm Jul 20, 2010 11:22pm
Hi all,
Does anyone have any comments on http://www.cmsfx.com they seem reputable with NFA, fcm, fdm. I'm considering to open a live account with them pip spread seem to be low but I would like to hear any comments, advice, thoughts?

Thanks in advance.
  • #182
  • Jul 21, 2010 4:15am Jul 21, 2010 4:15am
I went to their website and was very intrigued myself as they said they give you a free $50 micro account so you can test drive their software. Ok here is what I found out. Get your helmet on:

1-When I was fillling out the account opening page, they have a box asking me how much I wanted to open the account with. I put zero. It wouldnt accept it. I changed it to $50 and it accepted that. Uh ohh...

2-To me if any broker advertises low spreads, they should have all the major pairs and the immediate trade by trade spread right on the home page to prove what the spreads are. This co. does not. It gets worse....

3-I read thru the fine print in the customer agreement. Here is what it said that made me jump- a) You can incur miscillaneous charges at any time from third parties not connected to us. b) We can put a lein on your property to collect any unpaid debts you might incur by trading thru us.

4-I then called them by phone. When I asked them how long they were in business, the guy asked "which office?" I said United states.....he paused for about 30 seconds to look it up and said 2001. I asked him about that lein on the property thing. Even he was shocked. Here is my advice:

Until you are a professional, and saving a pip here and a pip there is going to make so much difference you need to find the best broker, just use FXCM. Why? I find their spreads are very competitive, they dont exagerate anything, and most important, they are the biggest in New York so they will always stay in business. And they answer the phone 24 hours a day in a flash. I called them in fact tonight at 3am and they picked up in under 10 seconds. Seriously, start with them, forget all the other brokers and their gimmicks, and after you triple your account, then start thinking of where you can go to save a pip here and a pip there. Remember...forex is rife with fraud. You get what you pay for. I admit I am not a professional forex trader but a daytrader of equities. Because I am not expert yet in forex, I need to be sure I am getting a fair deal. FXCM is just the place. And btw, they give you so much free news and technical analysis and very reasonable course fees if you want to pay to learn deeply. You cant go wrong with them. With an average IMHO of under 3 pips in the most major pairs, why not try them. I did.
  • #183
  • Jul 21, 2010 6:28am Jul 21, 2010 6:28am
Quoting Daytrader50
I went to their website and was very intrigued myself as they said they give you a free $50 micro account so you can test drive their software. Ok here is what I found out. Get your helmet on:

1-When I was fillling out the account opening page, they have a box asking me how much I wanted to open the account with. I put zero. It wouldnt accept it. I changed it to $50 and it accepted that. Uh ohh...

2-To me if any broker advertises low spreads, they should have all the major pairs and the immediate trade by trade spread right on the home page...

This absolutly a scam as they are not regulated by NFA so how they can claim being in US since 2001??

Never ever trust such exotic MT4 brokers.

PS: my comments are related to first post not CMS!

Regards
13
Brokers are angels
  • #184
  • Edited 7:20am Jul 21, 2010 7:10am | Edited 7:20am
Quoting Daytrader50
I went to their website and was very intrigued myself as they said they give you a free $50 micro account so you can test drive their software. Ok here is what I found out. Get your helmet on:

1-When I was fillling out the account opening page, they have a box asking me how much I wanted to open the account with. I put zero. It wouldnt accept it. I changed it to $50 and it accepted that. Uh ohh...

2-To me if any broker advertises low spreads, they should have all the major pairs and the immediate trade by trade spread right on the home page...
Hi Daytrader50,
Thank you Daytrader50 for sharing your experience, good catch with #3. I'm surprise I didn't see that. Too bad it seem really good. I too was considering the micro account but not with #3b.

Fxcm seems good I'll look into it. In there spread they have as low as is this during the most volume periods(sessions)?

How about oanda US division? Anything like #3?
http://fxtrade.oanda.com/ or http://www.oanda.com they have a live spread rate in the first link seems really good. .9 for euro and 2.5 for the experts but the spread I think might be during high volume I could be totally wrong though.

Any comments, thoughts, anything are always welcome.
Thank you in advance.

@fx13 uncalled for, I'm not making it up or scaming anything check it out for yourself first http://www.cmsfx.com/en/about-cms/regulations/ before making such unnecessary high remarks to someone who's only asking a simple question and making a simple comment after reading.
But either way your comment was appreciated at least you had something say.

Thanks again.
  • #185
  • Jul 21, 2010 11:08am Jul 21, 2010 11:08am
Quoting fx10
Hi Daytrader50,
Thank you Daytrader50 for sharing your experience, good catch with #3. I'm surprise I didn't see that. Too bad it seem really good. I too was considering the micro account but not with #3b.

Fxcm seems good I'll look into it. In there spread they have as low as is this during the most volume periods(sessions)?

How about oanda US division? Anything like #3?
http://fxtrade.oanda.com/ or http://www.oanda.com they have a live spread rate in the first link seems really good. .9 for euro and 2.5 for the...
Read what I wrote!!!

Quote
PS: my comments are related to first post not CMS!

Seem we got here a mis understanding both ways. Good luck.

13
Brokers are angels
  • #186
  • Aug 19, 2010 12:12pm Aug 19, 2010 12:12pm
have any one heard about this one
figfx.com
they r offering one pip fixed spread on 6 majors
metatrader
scalping allowed
leverage up to 500
but i m stuck at 100 from one month
dont know why
other wise going grat
  • #187
  • Aug 19, 2010 7:03pm Aug 19, 2010 7:03pm
Quoting mark1122
is there any meta trader brokers that aren't market makers??? but are ecn
like dam no good meta4 broker.......????
MB Trading.
  • #188
  • Aug 20, 2010 2:49am Aug 20, 2010 2:49am
...and no CFA or any license number? I wouldnt take a chance. Seems too good to be true. I wont mention the brokers name in this thread as I hate badmouthing anyone unless Im sure but you know the old saying..."If it sounds too good to be true...."
  • #189
  • Aug 20, 2010 2:52am Aug 20, 2010 2:52am
they have no spread at all but charge a reasonable fee BUT.....they appear to be licensed and located in NY. Problem is I cant download their platform for some reason. Anyone else try them before?
  • #190
  • Aug 20, 2010 3:18am Aug 20, 2010 3:18am
Quoting witsnpips
never heard of them syed.

happy at fxopen myself thanks.
Witsnpips how is execution of orders and how long you with them?
  • #191
  • Aug 20, 2010 7:14am Aug 20, 2010 7:14am
actually i want to hear from u guys about that broker
many trader call it scam.
how could i verify it
and what should i do to withdraw my amount
  • #192
  • Aug 20, 2010 2:03pm Aug 20, 2010 2:03pm
which broker? if u mean fxopen, i can tell you ur money is safe.
  • #193
  • Sep 7, 2010 3:24pm Sep 7, 2010 3:24pm
Max,

I have had a demo acct with Paragon FX for over a month now and so far cannot see any retail broker beating their spreads. They mention nothing about commissions. Why do you think they have them built in, and would that be legal? I also just opened a demo account with Fx.com(Forex Club.com) and they have no spread and only 40 cents per thousand dollars traded, which is only 4 bucks on a mini lot or 40 bucks per regular lot but get this...they refund the commission back to you on every losing trade you have. And they are in biz for at least 5 years.

I am dying to find out if anyone has a live account with them and what they think. I just might open a small live account with both at some point and see how well I fare. Meanwhile I welcome anyone who has a live account with either of them to give an opinion. Only thing that scares me about paragon is that they are only open 6 months. Best thing about them is they let you trade any fraction of a regular lot even a wacky number like .002 so i essence you can trade down to a penny a pip I think on their platform which is the ol dependable MT4. Nice looking chart windows too.

To make it a three horse race, I like what one poster in this thread said about fxopen.com and they have over 6 billion in liquidity, list their active accounts right on the home page and their fixed spreads on the major pairs are better than FXCM, same safetly, and you can also trade Gold and silver also. Since I hate putting all my eggs in one basket in such an enregulated market, I will likely go live with 2 out of 3 of these guys after I demo them all for a bit.
  • #194
  • Sep 14, 2010 7:56pm Sep 14, 2010 7:56pm
Quoting ut2DaMax
FXCH on www.forex-swiss.com is offering fixed spread of 1 or 2 pip on all pairs. They are not Swiss. IMO Anyone have experience with them? If so please give your report on them here. Thanks
I had real account there.My short information-THIS BROKER IS SWINDLER AND GRABLER!!!
  • #195
  • Sep 16, 2010 12:06pm Sep 16, 2010 12:06pm
i am with fxopen. yep it is reliable. No tricks , fast & easy. Go markets is good.

still evaluate on axis odl(australia). leverage issue is only 1:100 for start . will report here if they are good. Hope no tricks from them.


MT4 Is risky platform. Long term is better to trade without it.
  • #196
  • Sep 16, 2010 7:24pm Sep 16, 2010 7:24pm
Hey guys,

Still looking for a 1 pip broker that won't steal you blind? I covered that already in my last post 2 pages ago.

But I did find this, if your looking to save money, why not save your profits instead of the spread?!!?

http://hunted.biz

Maybe it's not for everyone, but good to know!
  • #197
  • Sep 18, 2010 1:57pm Sep 18, 2010 1:57pm
Has anyone had any expierience with hotforex.com ? Seems to be very young broker. Spreads from 0.3 pips.
  • #198
  • Oct 10, 2010 9:31am Oct 10, 2010 9:31am
Q: tantric, could you tell us what happened so we'll know what to watch out for?

A: Saintsurfer, I would be aware of new brokers even if they are regulated! I read in another thread here that you should really check what the regulator is actually regulating, so I did. Read the FSC disclaimer on the hotforex.com website: "In issuing an Investment Dealer license to the Company, the Mauritius Financial Services Commission does not vouch -
(i) for the reliability and financial soundness of the products offered or products on which the Company provides its service; and
(ii) for the correctness of any statements or opinions expressed by the Company."
Basically hotforex is free to play with the mt4 platform, manipulate rates, steal your money and it would take you forever to catch on. I'm not saying this would necessarily happen, I'm just saying it looks very likely so be careful.
Good luck
  • #199
  • Oct 11, 2010 12:09am Oct 11, 2010 12:09am
but they cannot do business w US Customers after the 15th ... so I will be looking for a new broker. I am checking out hotforex.com to see what they offer. Thanks.

Just for others information on Go Markets:
I can tell u though if u are offshore that they are quite good for what they offer and I would give them 4 1/2stars. Somewhat slow on execution but other than this they are great and allow 0.01 lots trading.

ut2
  • #200
  • Oct 11, 2010 8:02am Oct 11, 2010 8:02am
Quoting ut2DaMax
Here is a Broker that offers 1 Pip Spread on four MT4 ..................................
Thanks all for your understanding: [/size][/font]

ut2DaMax

This thread should really be called:
MT4 Brokers - some as low as 1 Pip spreads.
IMO Drop the "favorite":
Please help me find the best deals Introducing Broker (IB). Who is favorit MT4 Introducing Brokers, IB ? http://www.forexfactory.com/showthread.php?t=260372
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