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Need help to choose a broker

  • #1
  • First Post: Feb 5, 2011 4:19pm Feb 5, 2011 4:19pm
Dear Traders
I needed to choose between 2 brokers, these 2 brokers option are what i needed for my trading.
but i am not sure which broker is trustworthy, I would be happy if you could help me in making my decision, let me know if u have any personal experience with these brokers.
I have already read FPA but most of the thread was posted long ago

1- broco: www.brocompany.com
leverage 1:500 Regulated by FSC
"http://www.gov.mu/portal/sites/ncb/fsc/index.html"

2- masterforex: www.masterforex.org
leverage 1:500 Regulated by KROUFR
http://kroufr.org/

what kind of regulation agency are they? have u heard of these? are they trustworthy?
please help me choose or offer your ideas
thank you for sharing
  • #2
  • Feb 9, 2011 5:17am Feb 9, 2011 5:17am
You may try to find other traders reviews. That might help you to choose, at least, the reliable one.
  • #3
  • Feb 9, 2011 9:44am Feb 9, 2011 9:44am
Well, since Broco are now spoken of in past tense, and Masterforex is an unregulated russian bucketshop with a long history of proven scam behaviour, your choice is obviously "None of the Above"

Kroufr is not a regulator. It's a private enterprise like that RAFMM joke. Made up of related companies pretending to be an independent regulatory agency although RAFMM is worse since every company in that "regulator" is owned by the same guy!

The Russians think we are stupid
  • #4
  • Feb 9, 2011 9:56am Feb 9, 2011 9:56am
Darn that's all you have to choose from in Russia? They are probably ran by the Mafia, lmao.
  • #5
  • Feb 9, 2011 7:26pm Feb 9, 2011 7:26pm
Quoting Revone
Darn that's all you have to choose from in Russia? They are probably ran by the Mafia, lmao.
The truth is no joke
  • #6
  • Feb 9, 2011 10:54pm Feb 9, 2011 10:54pm
Hi,

hv traded fx market for over 10 years...I rarely come to any forum.

anyways...

I remember broco - cannot recommend, as it had bad reviews a long time ago.

My recommendations are,

1. Dukascopy - still trade them, best with low margin requirement.
2. MBTrading - one of my buddy trades has good execution, as I hv tried it through his account.
3. PFGBest - still trading with them...very best.
4. ATC Brokers - good, I hv traded with them before, they are OK.
5. LCG(London capital) - Execellent - Need $50000.00 to trade, may inquire, as they may hv reduced, not sure.


There are some more But I forgot their names.
  • #7
  • Feb 10, 2011 4:12am Feb 10, 2011 4:12am
thanx guys yor info are so useful and i know what am i doing now
  • #8
  • Feb 18, 2011 8:48am Feb 18, 2011 8:48am
maybe someone can help me:

I am in the US but I would like to be able to hedge, use MT4, have a micro account and I do not want my broker to trade against me.

I have been using IBFX but I cannot seem to hedge anymore. I am checking into it but I think they may have changed their rules on US residents.

Thanks for any help.
  • #9
  • Feb 19, 2011 1:50am Feb 19, 2011 1:50am
Quoting newark18
maybe someone can help me:

I am in the US but I would like to be able to hedge, use MT4, have a micro account and I do not want my broker to trade against me.

I have been using IBFX but I cannot seem to hedge anymore. I am checking into it but I think they may have changed their rules on US residents.

Thanks for any help.
If you don't want your broker to trade against you, why are you using IBFX? They are a market maker.

Did you read their Terms of Business?

Quote
11.3 Counterparty
We may effect or arrange for the effecting of a Transaction with you or on your behalf in connection with which we, our Affiliated Companies, or a Related Party may have other direct or indirect material interests, such as being a Counterparty.

Quote
11.4 Hedging conflict
We may execute hedging Transactions prior to (i.e. in anticipation of) or following receipt from you of a request, or information concerning a contemplated request, to open or close a Transaction in order to manage our risk in relation to Transaction(s) you......
Quote
11.5 Matching and market making
(a) We may match your Transaction with that of another Client by acting on their behalf as well as yours.
(b) We may make a market in Transactions which you enter into.
  • #10
  • Feb 24, 2011 7:56am Feb 24, 2011 7:56am
Lol, Masterforex, what a russian scam broker!

In my opinion, the good brokers are fxopen and mbtrading.
  • #11
  • Feb 24, 2011 8:32am Feb 24, 2011 8:32am
Quoting fxvoilaaa
Lol, Masterforex, what a russian scam broker!

In my opinion, the good brokers are fxopen and mbtrading.
fxopen? The company run by "Dr. Alex K."??? The company with no contact address, no details of regulation??? The company that lets you open a live account without supplying any identification or proof of address???
  • #12
  • Last Post: Mar 7, 2011 10:31pm Mar 7, 2011 10:31pm
Hi,

Can anyone recommend MT4 reliable Broker whose daily candle closes at 5 PM New York.

Thanks,

Patsy
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