Who is the most honest broker? | Forex Factory

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Who is the most honest broker?

  • #1
  • First Post: Jun 11, 2011 9:43am Jun 11, 2011 9:43am
what is the most honest broker ?
  • #2
  • Jun 11, 2011 10:31am Jun 11, 2011 10:31am
Amongst the Market makers?? I trade a live account with Oanda, they play games with their spreads during news and times of low liquidity, but they are very upfront with their practices. So you have to learn to trade and learn to to play the broker game.

I think all of the market makers play games to try and shake you out, if they don't have variable spreads they have giant price spikes. My biggest fear with these brokers is not really the games it's insolvency. It makes me nervous keeping large accounts with these guys. Thats why I picked Oanda, cause they are one of the largest brokers and they are well capitalized (at least thats what they report anyways). I am actually considering a switch to futures where your trades go through a centralized exchange some time soon.
  • #3
  • Jun 11, 2011 11:10am Jun 11, 2011 11:10am
Dukascopy.
  • #4
  • Jun 11, 2011 5:02pm Jun 11, 2011 5:02pm
Quoting wallstreet03
what is the most honest broker ?
This is a theoretical question, you will never get the one and only one answer. But I prefer any STP/ECN vs. MM.

If the brokerage states in the contract that clients’ funds are held in segregated accounts from company’s accounts and the broker is regulated (eg. by strict EU laws and regulations) and retail clients get protection through any investor compensation fund, these are important things that will increase your confidence.
Mind the gap
  • #5
  • Jun 12, 2011 10:18am Jun 12, 2011 10:18am
an honest broker with mt4 ??
  • #6
  • Jun 12, 2011 10:48am Jun 12, 2011 10:48am
Quoting wallstreet03
an honest broker with mt4 ??
when hell freezes over
  • #7
  • Jun 12, 2011 11:32am Jun 12, 2011 11:32am
Quoting wallstreet03
an honest broker with mt4 ??
Oanda has MT4. I've been using them for over a year now and I have no complaints. Like a previous poster said, they are up front about their practices, and if you compare them to other brokers they have a very clean track record. A good resource for doing homework on your prospective broker is the National Futures Association website. Use the Background Affiliation Status Information Center (BASIC) to check their history for illegal activity. I was thinking of switching to IBFX at one point in time but when I read through their history I quickly killed that idea. LOL

http://www.nfa.futures.org/basicnet/
Get money, don't let money get you. @kauaiforex
  • #8
  • Jun 12, 2011 6:19pm Jun 12, 2011 6:19pm
Quoting NoJobRob
Oanda has MT4. I've been using them for over a year now and I have no complaints. Like a previous poster said, they are up front about their practices, and if you compare them to other brokers they have a very clean track record. A good resource for doing homework on your prospective broker is the National Futures Association website. Use the Background Affiliation Status Information Center (BASIC) to check their history for illegal activity. I was thinking of switching to IBFX at one point in time but when I read through their history I quickly...

Interesting...I use MB Trading, good to see their record is clean.
  • #9
  • Jun 12, 2011 10:18pm Jun 12, 2011 10:18pm
Quoting knucklehead
Interesting...I use MB Trading, good to see their record is clean.
I've heard very good things about MB Trading.
Get money, don't let money get you. @kauaiforex
  • #10
  • Edited 12:20pm Jun 13, 2011 12:28am | Edited 12:20pm
Quoting NoJobRob
I've heard very good things about MB Trading.
Except they have a thing against Canadian traders. They used to refuse accept clients from Canada outright along with countries like Iran, Iraq and North Korea and etc. Now they only accept clients from this ONE province from Canada.

Always wondered what they are afraid of Canada for?
Make your losses in demo. Earn your profits live.
  • #11
  • Jun 13, 2011 6:00am Jun 13, 2011 6:00am
Quoting Forexia
Always wondered what they are afraid of Canada for?
That's easy.

Lumberjacks!

Inserted Video
  • #12
  • Jun 13, 2011 12:28pm Jun 13, 2011 12:28pm
Quoting jafar00
That's easy.

Lumberjacks!

http://www.youtube.com/watch?v=5zey8567bcg
Well their loss! What a shame...
Make your losses in demo. Earn your profits live.
  • #13
  • Jun 15, 2011 4:51pm Jun 15, 2011 4:51pm
Hello to everybody, I'm looking for a broker that during news does not quote and requote with a big slippage, do you have any advices?
  • #14
  • Jun 16, 2011 12:38am Jun 16, 2011 12:38am
Quoting wallstreet03
what is the most honest broker ?
GFTUK if you want to trade with MM
  • #15
  • Jun 16, 2011 11:56am Jun 16, 2011 11:56am
If you want honesty then go with a non-market maker , lmaxtrader.co.uk works just like an exchange , no conflicts of interest possible...
  • #16
  • Jun 17, 2011 4:37am Jun 17, 2011 4:37am
Quoting Cocoflanel
If you want honesty then go with a non-market maker , lmaxtrader.co.uk works just like an exchange , no conflicts of interest possible...
No one guarantees that "ECN" brokers will execute positions on real market.
Coz 70-80% loose money, and a broker don't miss this chance
  • #17
  • Jun 18, 2011 3:51am Jun 18, 2011 3:51am
Quoting slovforex
No one guarantees that "ECN" brokers will execute positions on real market.
That's totally true.
  • #18
  • Jun 18, 2011 8:47am Jun 18, 2011 8:47am
Has anyone tried Saxo Bank as a broker for forex trading?

Am pretty new to forex trading, and they seem to have a "learning center", has any1 tried that?, also I think they require 10K in the account when joining, is that standard? looks pretty steep!

Thanks!
  • #19
  • Jun 20, 2011 12:35am Jun 20, 2011 12:35am
Quoting PoundTrader
when hell freezes over
Nice said, PoundTrader
Get it in one!
  • #20
  • Jun 20, 2011 1:49am Jun 20, 2011 1:49am
Quoting ibrahimnaji
Has anyone tried Saxo Bank as a broker for forex trading?

Am pretty new to forex trading, and they seem to have a "learning center", has any1 tried that?, also I think they require 10K in the account when joining, is that standard? looks pretty steep!

Thanks!
I used to trade with Saxo Bank and I would not recommend it for someone who doesn't have a lot of trading experience. They offer so many different instruments that it is easy to get lost if you don't know exactly what you are doing - besides the charting on saxotrader is really crap in my opinion.
I'm not saying the Saxo Bank is a bad broker ... if they offered a decent 3rd party platform I would probably still be trading with them.
If I were you I would start out with a MT4 broker.
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