FX OPEN how do you like them

I from the US and thinking about funding a account with FXOPEN.
I am hesitant about wiring funds to them overseas. I have always been with US brokers.
Please tell me your experience with them and do recommend them or not.
I know new rules about overseas accoun ts from US citizens is coming out in October 2010. Dont know what it will do to US citizens who have account overseas.
thankyou and happy trading and win big

First off I have heard many many bad stories and I did a search on here and came up with plentiful of threads about them. Take a look. Always safe to research before investing with anyone.

Here's basically what you are asking.

Is it worth moving my funds halfway across the globe to a company operating out of a questionable country where I have no recourse if they do something to my account just so I can get 100:1 leverage instead of 50:1?

I have a friend out of the US that had a problem with a US broker (basically flushed his account with a massive bad fill). He tried to file a complaint with the NFA, but found out that if you aren't a US citizen, you can't file with the NFA against a US broker. So he's out of luck (broker is gone anyway). Before you consider sending funds overseas, I would think that the number one thing to do would be to figure out what regulatory body and entity you could go to when that broker suddenly screws you over and if you have rights to work through that entity and if they have proper regulation to fine and penalize the broker.

To me, that seems like a lot more concern than just trading at 50:1. This isn't some equal playing field where you hear about a broker being 100:1 with tight spreads and thus it is worth sending your money to the Phillipines or something like that. Doesn't matter what the spreads or technology is or what your statement reads if the broker is just waiting for the day to take your funds and you have put yourself in a situation that you have no recourse against them.

Until the world falls under some sort of global regulation to protect everyone equally, just remember that it is your government's job (wherever you are) to protect you WITHIN their borders.

FX Chant and Iga thankyou for your replys
That is exactly what i wanted to here.
I was thinking the same thing, but wanted to here it from others.
Do you know any other broker good brokers in the US other than IBFX , which is the broker i am using now.
happy trading to you both and thankyou again