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Which Broker is truly reliable?

  • #141
  • Edited Apr 11, 2013 4:28am Apr 10, 2013 11:27pm | Edited Apr 11, 2013 4:28am
Quoting rino88au
I'm located in Australia and I have been searching for good ECN or STP broker but I have failed to find a good one.
Australian ECN brokers with ASIC regulation are quite popular nowadays: AxiTrader, IC Markets, FXOpen AU, and Global Prime. Except for the last one (still at $7), you can open accounts with IB discounted commission of $5.50 per round trip (can go even lower to $5 if you can commit volume).
No longer trading forex. Looking for full time job.
  • #142
  • Apr 11, 2013 4:06am Apr 11, 2013 4:06am
Some of you are way off. Not all brokers are out to get you. Non-dealing desk brokers that send [u]all[u] of your trades straight to the banks want you to succeed because they get their money from commission (and/or spreads). Fact.

Stay away from Market Makers.
  • #143
  • Apr 12, 2013 1:35am Apr 12, 2013 1:35am
Quoting mmaker
Australian ECN brokers with ASIC regulation are quite popular nowadays: AxiTrader, IC Markets, FXOpen AU, and Global Prime. Except for the last one (still at $7), you can open accounts with IB discounted commission of $5.50 per round trip (can go even lower to $5 if you can commit volume).
Thanks for your recommendations, Have you tried any those brokers with a live accounts?
  • #144
  • Apr 16, 2013 4:55am Apr 16, 2013 4:55am
Quoting mmaker
HFT Group now has discount offer for LMAX, check it out here.
If you negotiate with Lmax you can get similar discounts but not with a small account ..
  • #145
  • Apr 16, 2013 7:38am Apr 16, 2013 7:38am
Quoting FXmazecracke
You can look at FXPRIMUS too. They allow local deposit.
Here's their ECN commission info:

Our ECN Premier Account requires a minimum deposit of USD100 (Fixed and Variable spread accounts require a minimum deposit of USD100).

By registering for our ECN Premier Account you agree to have a 1 pip commission deducted from your account in real-time for the equivalent of every standard lot traded. (approximately USD10 per standard lot, USD1 per mini lot and USD0.10 per micro lot).

We deduct this commission at the time you exit the trade. This commission is non-refundable.

Once you trade the equivalent of 250 standard lots or more in a calendar month, you will qualify for a lower commission rate of USD8 per standard lot round trip traded (or equivalent thereof.) Therefore we will credit your account USD2 for each lot traded.

For example, if you trade 300 standard lots during the month, we will credit your account with USD600 at the end of that month.
No longer trading forex. Looking for full time job.
  • #146
  • Apr 17, 2013 12:13pm Apr 17, 2013 12:13pm
Hi...fxstevyboy...

i have been trading more than two years but still not able to make profit with manual trading. i found from your post that you are using EA which gives very good returns... can you please help me to get good EA....

vinoth kumar
  • #147
  • Apr 18, 2013 2:41am Apr 18, 2013 2:41am
Quoting vinoth kumar
Hi...fxstevyboy... i have been trading more than two years but still not able to make profit with manual trading. i found from your post that you are using EA which gives very good returns... can you please help me to get good EA.... vinoth kumar
Let me explain things to you. There are no good EAs. Check out something like Tradesight to learn how to make money. You can't automate yourself to profits, but they make it as close as possible.
  • #148
  • May 3, 2013 2:30am May 3, 2013 2:30am
You can try paxforex, I've opened an account and it seems good, since they have the skrill moneybookers wherein I can easily withdraw my money without the hassles of bank transfers...
  • #149
  • May 3, 2013 2:50am May 3, 2013 2:50am
Quoting mumuy
You can try paxforex, I've opened an account and it seems good, since they have the skrill moneybookers wherein I can easily withdraw my money without the hassles of bank transfers...
PaxForex is registered in British Virgin Islands with no information about management team or any form of regulatory licenses. If we run into transaction disputes, which jurisdiction can we pursue the case?

CFTC/NFA, FSA, ASIC, FINMA, etc.
No longer trading forex. Looking for full time job.
  • #150
  • May 3, 2013 7:34am May 3, 2013 7:34am
There are many Br0kers out there but any that are FSA regulated should be holding their clients money in a ring fenced account I.E on a daily basis at least actual money will be moved from or to their current accounts to the client monies account so that at any time their client balance will match the total of all their clients accounts, the problem arises with companies that do not do this, All regulated companies have to report to the FSA on a monthly basis proving that their company is not only solvent but has managed all risk appropriately and that client monies are secure, Ps yes I do work for such a company..as their accountant and I can assure you none of the previously mentioned sharp practises are carried out . bad press, traders imagination on losing trades, bad trades yes there are many reasons for shooting your mouth off but try looking inward first . you are trying to beat the odds by using EA's and well thought out plans would you expect someone not to fight back.
  • #151
  • Last Post: May 4, 2013 4:44am May 4, 2013 4:44am
Hi all, I plan to open an real account to trade, at this moment practising Oanda account I found out that Oanda can not hedge especially when the market price going up. please comment more, Thanks
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