Forex.com opinions

I like to park my position in anticipation of the market movement. I'm on Denver, CO time, so that means that Frankfurt comes online an hour before London at 12am(MTN), and the New York session will come online at 1pm (MTN), and will run through 3pm. Sydney & Tokyo will overlap slightly by 2 & 3 hours at the London start, respectively as well. But the 800 pound gorilla is London. So watch your news.

I like Raghee Horner's ForexAM and stick to price action trading. Cheers!

Yeah they're so honest they where fined for cheating their clients...

All in all, they are a good broker if you don't mind their trading conditions:

1) limit orders placed 50 pips from spread (pro accounts this is 5.0 pips).

2) stops orders are guaranteed to be filled at the stop price (basically a stop limit order, but they guarantee fills). I never had a problem with fills.

3) Their spreads are not excellent by any means. This includes the pro accounts. In fact, my account manager encouraged me to consider standard account, because they "round down" the spread. So [theoretically] if the 5 digit spread is 1.23479, you would get 1.2347.

4) 2-3 business days to process funds by wire. [wtf?] But pro accounts get free withdrawals. At least one per month. Make sure you remind them in the notes.

5) they have microlots (1000 units of base currency) on their accounts. No FIFO/hedging restrictions as mt4 is in UK. But that may also mean they are no longer accepting USA clients for that platform either. Leverage was 1:200 up to any deposit amount.

6) Their staff I think they outsource some of it. Not that that is a problem, but there was a huge disconnect between what my account manager said, and what many of the online chat representatives were saying sometimes with trading conditions, promotions, etc.


With brokers like GoM, IBFX (au), VantageFX, MB Trading (uk), you can still get major broker with much better spreads and withdraw policy. IMO. The recent CFTC fine for price manipulation didn't help Gain's image either. They never confirmed or denied the price manipulation, which was wise on their part. Like the paralegal told the rich kid that was being sued in the movie The Social Network "Just settle....in the bigger scheme of things it's just a speeding ticket"

FXCM made the mistake of denying price manipulation and several people on this forum have busted them with rather obvious proof that manipulation was taking place, even on the "active trader" (raw spreads) platform. It created a public relations nightmare.

Thanks for the all the replies. Im glad to hear they're not as bad as what Ive been reading accross web. This is my first try into forex so I'm sure as I get wiser I'll look for a better option currently google search for forex took me to them so for now seems like I'll stick with them. Can any one list some more or better brokers for starters?
Are spreads negotiable at all or are they pretty much fixed?

Ibfx.com.au, MBTrading.com (I think they have london branch), Gomarketsaus.com , VantageFX.com, PFGBest, FXOpen ECN, Oanda . All of these brokers have their pros/cons; you must evaluate

1) will the broker be around next year? (company stability)
2a) order execution and reliability.
2b) automated trader or manual trader?
3) Deposit/Withdraw policy
etc, etc. Notice I did not mention spreads. Watch this video to find out why.

The spreads are the same for everyone, unless your daily/monthly volume can justify a commission discount.

so do u think Forex.com is a good broker to go with. I stopped my account with Avafx.

back in 2010: Gain Capital was slapped with $459,000 fine for abusing its Virtual Dealer plugin and configuring it to unfair trading settings. The plugin was configured to accept client orders when slippage moves unfavorably against them and reject client orders when slippage goes against Gain Capital.

http://forexmagnates.com/nfa-to-inve...ing-practices/

I personally have not heard anything good or bad about them since (that I can remember).