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Good Reputable Brokers with Low Spreads?

  • #21
  • Oct 21, 2014 8:08am Oct 21, 2014 8:08am
Quoting luiche
Need an opinion from sb who knows exactly. I looked through myfxbook but the lowest spreads have brokers who I have never heard before. Some names are everywhere, but these ones... Also they have low commission... My question is - can myfxbook write about scam brokers? Coz I found some which I want to work with but I'm little bit nervous
Which companies do you mean?
  • #22
  • Oct 21, 2014 11:05am Oct 21, 2014 11:05am
Quoting luiche
Need an opinion from sb who knows exactly. I looked through myfxbook but the lowest spreads have brokers who I have never heard before. Some names are everywhere, but these ones... Also they have low commission... My question is - can myfxbook write about scam brokers? Coz I found some which I want to work with but I'm little bit nervous
Lowest spreads are not the only thing that matters!

Reputation, Regulation and Reliability are way more important.
  • #23
  • Oct 21, 2014 4:36pm Oct 21, 2014 4:36pm
Quoting luiche
Need an opinion from sb who knows exactly. I looked through myfxbook but the lowest spreads have brokers who I have never heard before. Some names are everywhere, but these ones... Also they have low commission... My question is - can myfxbook write about scam brokers? Coz I found some which I want to work with but I'm little bit nervous
Low Spreads, commissions, MM, ECN are words you read constantly on forums.

You should be looking for regulation,service,products provided, bogus marketing instead. Why you may ask ?

Both regulators in Australia and NZ are about to weed out the bogus operators and that's what they have indicated they are looking for and so should you.
  • #24
  • Oct 27, 2014 6:50am Oct 27, 2014 6:50am
Quoting lasty
{quote} Low Spreads, commissions, MM, ECN are words you read constantly on forums. You should be looking for regulation,service,products provided, bogus marketing instead. Why you may ask ? Both regulators in Australia and NZ are about to weed out the bogus operators and that's what they have indicated they are looking for and so should you.
you mean don't work with NZ regulation? like fxopen for example?
  • #25
  • Oct 27, 2014 4:34pm Oct 27, 2014 4:34pm
Quoting luiche
{quote} you mean don't work with NZ regulation? like fxopen for example?
NZ regulators are about to come into line with the Australian regulators ie capital adequacy,compliance and local staff requirements.
  • #26
  • Oct 30, 2014 6:00am Oct 30, 2014 6:00am
I'm trying UPME Group, it's all good for now I recommend
  • #27
  • Oct 30, 2014 6:53am Oct 30, 2014 6:53am
Now I'm thinking about 3 brokers: forex.ee, gainsy and sensus capital markets. They have european regulation - Estonia, Malta and St Vincent and Grenadines (British Commonwealth).
They have low spreads and low commissions, as I saw on myfxbook
What can you tell me about this names?
  • #28
  • Oct 30, 2014 9:58am Oct 30, 2014 9:58am
Quoting jakobn
I'm trying UPME Group, it's all good for now I recommend
cmon, have read a lot about this company. That it's scam and they don't allow to withdraw your profit... Do you use demo or real account?
  • #29
  • Nov 1, 2014 3:56am Nov 1, 2014 3:56am
if you want low spreads you have no other option but to go with ecn brokers .
  • #30
  • Nov 3, 2014 2:40pm Nov 3, 2014 2:40pm
As I know NZ regulation isnt like Australian at all, it is much cheaper and the requirments are not so serious, its much more like BVI or sort of...I would stay away of NZ brokers
  • #31
  • Nov 3, 2014 3:17pm Nov 3, 2014 3:17pm
Quoting mlechnijput
As I know NZ regulation isnt like Australian at all, it is much cheaper and the requirments are not so serious, its much more like BVI or sort of...I would stay away of NZ brokers

NZ regulation used to mean: you can skin your clients alive, aslong as you dont service NZ residents they wouldnt care at all. Apparently its now changing towards the australian model, but i think it is not yet implemented in the laws.
  • #32
  • Nov 5, 2014 3:34am Nov 5, 2014 3:34am
Quoting shrike
{quote} NZ regulation used to mean: you can skin your clients alive, aslong as you dont service NZ residents they wouldnt care at all. Apparently its now changing towards the australian model, but i think it is not yet implemented in the laws.
100% true. what do you think of Asian brokers? I had a very few expirience and not so many information about them?
  • #33
  • Nov 5, 2014 4:35am Nov 5, 2014 4:35am
Quoting mitch77
{quote} Lowest spreads are not the only thing that matters! Reputation, Regulation and Reliability are way more important.
yes indeed, but low spread been important issued for me. a reputation would easily built, many brokers hire writer and reviewer, check odesk for your concern .
also have check this page http://www.myfxbook.com/reviews/brokers/9,1 , Regulation are different thing is important to have maximum security for our investment plan, but as all people know we facing many case with legitimate regulated brokers too. Reliability comes from their trading enviroment behaviour, how their price market works with their platform. as from the link i'm with Armada markets for several months, in my concern, scalping friendly enviroment, like any other ecn account service, commision are charge per trade, but still quite low cost for my trade, and the ecn account are low minimum deposit too. I would prefer any advice and thought from real trader around, any wise word would be helpfull for me. many thank;s.
  • #34
  • Nov 5, 2014 9:19am Nov 5, 2014 9:19am
Quoting CoolPeach
{quote} yes, good and reputable. I CAN read well enough. And gainsy suits to both these words. BTW have you ever trade with them or just spamming?
I started demo with them and 2 others, I wrote above
Which will be better for me - I will open ECN
Gainsy has the best rating and comments at myfxbook, but min deposit for ecn is the biggest. But I dont want to pay twice or more times for scammers... Even big deposit for good broker is better, then little ones for thieves....
  • #35
  • Nov 5, 2014 9:22am Nov 5, 2014 9:22am
Quoting mlechnijput
{quote} 100% true. what do you think of Asian brokers? I had a very few expirience and not so many information about them?
names maybe? of course there could be scammers in Asia. I believe only in quality of some asian cars
  • #36
  • Jul 1, 2015 7:40pm Jul 1, 2015 7:40pm
Quoting mitch77
^^^I didn't know I had to find other rubbish brokers for the comparison. You will see that in the top right corner I ticked- include commission. Any way each to there own, OP can go with a MM or choose a ECN which is still cheaper with commission included and save some money. EDIT: PFD, I come from NZ originally and I still wouldn't choose a NZ regulated broker especially when most of them have contact addresses that are residential addresses like PFD. I guess it's a good way to keep overheads down, running a broker from your house
Are you still trading with PFD nz ?Are their spreads as good as they say and how is the slippage? Thanks
  • #37
  • Jul 2, 2015 8:31am Jul 2, 2015 8:31am
Quoting moyes
{quote} Are you still trading with PFD nz ?Are their spreads as good as they say and how is the slippage? Thanks
Hey buddy,

You miss understood my post, I said wouldn't open an account with a NZ broker.

I only have accounts with FCA regulated brokers. Perhaps if I moved back to NZ one day I would consider opening an account with some of the more reputable Aussie brokers.
  • #38
  • Jul 2, 2015 9:06am Jul 2, 2015 9:06am
Quoting mitch77
{quote} Hey buddy, You miss understood my post, I said wouldn't open an account with a NZ broker. I only have accounts with FCA regulated brokers. Perhaps if I moved back to NZ one day I would consider opening an account with some of the more reputable Aussie brokers.
I see. Thanks mate. Yea, i am based in New Zealand and i am considering trying them out but their website looks outdated and I am not sure what their trading conditions are like. Do you know anyone that has used them? My other option is to use Tickmill or Darwinex. Which broker would you recommend? Cheers
  • #39
  • Jul 2, 2015 11:53am Jul 2, 2015 11:53am
Quoting moyes
{quote} I see. Thanks mate. Yea, i am based in New Zealand and i am considering trying them out but their website looks outdated and I am not sure what their trading conditions are like. Do you know anyone that has used them? My other option is to use Tickmill or Darwinex. Which broker would you recommend? Cheers
I am no expert in choosing a broker. I only have opinions like everyone else on FF.

You have loads of choices to choose from, that are well regulated in the UK or perhaps even Australia. Out of the two you mention Darwinex seems like a good option as they are FCA regulated and have the same low spreads as Lmax as they use their liquidity.

I have also recently seen this forex broker advertising on FF from NZ.
https://www.omf.co.nz/

They seem legit and have been around since the 80's in some form or another. Only recently offering forex but with Ctrader which is a bonus. Might be worth checking out!

Cheers.
  • #40
  • Jul 3, 2015 2:56am Jul 3, 2015 2:56am
Quoting EdgarNg
Want to change from IBFX(been using for 7 years), i think the spread is is kinda high compare to ICMarket? Whats the spread in ICmarket and other brokers for EURUSD any below 1.5 pip? Im thinking of ICMarket are they good? Any recommendations will be great!
Slightly higher spreads doesn't mean anything bad for a broker. Yes, rookies may buy into low spreads but later pay with slippage, spread widening and other broker ploys. 1.5 pip spread on EUR/USD is okay I guess, I get 1.8 spread on EUR/USD with Hotforex (fixed spread account) and around 0.1 on commission one. Using commission account is a bit confusing for me (from the point of MM) but I use it to trade on flat market and fixed spread account to trade news.
And again don't buy into free or cheap cheese it may end badly. I used to pay a bit higher for everything but to eliminate the possibility to deal with hassle in the future
Cheers.
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