Which broker would you recommend, and who should you avoid? | Forex Factory

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Which broker would you recommend, and who should you avoid?

  • #1
  • First Post: Jan 25, 2015 12:25pm Jan 25, 2015 12:25pm
So I'm in the hunt for a new broker, Alpari went bust, and I need to pick myself up, dust myself off and get back in the game.

If I leave it too long, I'll start to get nervous about committing money to the market again.

I don't know when I will get my original funds back, but I have other money that I wish to put in the market.


Anyway....

Now the hard part, which broker should I choose? - must be regulated! I am looking for recommendations.

Thank you all
  • #2
  • Jan 25, 2015 6:00pm Jan 25, 2015 6:00pm
Well, I trade with Oanda. I've never had any problems with them, no drama. I recommend them. I tried an account with MB Trading one time - didn't like them. The guys answering the phone seemed completely disinterested, didn't want to be bothered. I thought their attitude sucked. If I were their boss, they'd be fired immediately.
  • #3
  • Jan 26, 2015 3:28pm Jan 26, 2015 3:28pm
I found this on net:

Saxo Bank is cheating customers after SNB removed EUR/CHF floor. Saxo Bank initially closed the EUR/CHF positions with market price, and after 12 hours they re-quoted the price and put with negative balance most of the customer’s accounts. This is not legal and we should act against Saxo Bank and defend the users.

Please if you are a victim of Saxo Bank with the same problem join our group to do a trial together in Denmark. Send e-mail to:[email protected]
  • #4
  • Jan 26, 2015 3:38pm Jan 26, 2015 3:38pm
Quoting osceiv2
I found this on net: Saxo Bank is cheating customers after SNB removed EUR/CHF floor. Saxo Bank initially closed the EUR/CHF positions with market price, and after 12 hours they re-quoted the price and put with negative balance most of the customer’s accounts. This is not legal and we should act against Saxo Bank and defend the users. Please if you are a victim of Saxo Bank with the same problem join our group to do a trial together in Denmark. Send e-mail to:[email protected] ("[email protected]")
I was looking into those guys as well.

cheers

Quoting gravitist
Well, I trade with Oanda. I've never had any problems with them, no drama. I recommend them. I tried an account with MB Trading one time - didn't like them. The guys answering the phone seemed completely disinterested, didn't want to be bothered. I thought their attitude sucked. If I were their boss, they'd be fired immediately.
Thanks, oando has been recommended to me a few times.

Their leverage is being reduced, and I don't know how that leaves trading with them in the future
  • #5
  • Jan 26, 2015 3:44pm Jan 26, 2015 3:44pm
Quoting verv
{quote} Thanks, oando has been recommended to me a few times. Their leverage is being reduced, and I don't know how that leaves trading with them in the future
Do you need USA regulated broker?
  • #6
  • Jan 26, 2015 3:49pm Jan 26, 2015 3:49pm
Quoting xy76
{quote} Do you need USA regulated broker?
They have to be regulated, but not nescesarily in the us. These new forex regulations are putting me off seeking out us brokers, I don't know what us retail forex is gonna look like in a couple of month to a year.
  • #7
  • Jan 26, 2015 3:56pm Jan 26, 2015 3:56pm
Quoting verv
{quote} They have to be regulated, but not nescesarily in the us. These new forex regulations are putting me off seeking out us brokers, I don't know what us retail forex is gonna look like in a couple of month to a year.

It is still 1:50 on majors in Oanda UK. Check out what other folks say about spikes in AUD and NZD during news releases, if you think about Oanda. It could be a problem if you scalp any of them.
  • #8
  • Jan 26, 2015 3:58pm Jan 26, 2015 3:58pm
Quoting xy76
{quote} It is still 1:50 on majors in Oanda UK. Check out what other folks say about spikes in AUD and NZD during news releases, if you think about Oanda. It could be a problem if you scalp any of them.
No i Don't scalp, but all that action causes me serious concern.

picking brokers is one the most annoying things in fx.
  • #9
  • Jan 26, 2015 4:05pm Jan 26, 2015 4:05pm
Quoting verv
{quote} No i fonts alp, but all that action causes me serious concern. picking brokers is one the most annoying things in fx.
I am generally happy with Oanda. It suits well my style of trading and, since positions can be increased by as little as 1 unit of currency/commodity, the risk can be adjusted quite accurately. They have been playing fair for these 3 1/2 years I have been with them.
  • #10
  • Jan 26, 2015 4:07pm Jan 26, 2015 4:07pm
Quoting verv
{quote} No i Don't scalp, but all that action causes me serious concern. picking brokers is one the most annoying things in fx.
what centre are you trading from ?
  • #11
  • Jan 26, 2015 5:18pm Jan 26, 2015 5:18pm
Does anyone know anything about VantageFX?
  • #12
  • Jan 26, 2015 5:52pm Jan 26, 2015 5:52pm
Quoting lasty
{quote} what centre are you trading from ?
United kingdom

Quoting xy76
{quote} I am generally happy with Oanda. It suits well my style of trading and, since positions can be increased by as little as 1 unit of currency/commodity, the risk can be adjusted quite accurately. They have been playing fair for these 3 1/2 years I have been with them.
Thanks for the advice mate, that's reassuring
  • #13
  • Jan 26, 2015 6:23pm Jan 26, 2015 6:23pm
Quoting verv
{quote} United kingdom {quote} Thanks for the advice mate, that's reassuring
I would stick to a local licensed broker that offers a full service
  • #14
  • Jan 26, 2015 6:39pm Jan 26, 2015 6:39pm
OMF.co.nz are an established full service broker in New Zealand - traditionally a phone based brokerage they have introduced the ctrader platform. I believe there is a 10k minimum opening balance - you can possibly haggle on their brokerage - I know I did. They do not take the other side on any transactions. The other benefit is the research they produce each day and week - and I am on the phone to the guys several times a day talking through FX and Futures trades.
  • #15
  • Jan 27, 2015 2:35am Jan 27, 2015 2:35am
Quoting verv
So I'm in the hunt for a new broker, Alpari went bust, and I need to pick myself up, dust myself off and get back in the game. If I leave it too long, I'll start to get nervous about committing money to the market again. I don't know when I will get my original funds back, but I have other money that I wish to put in the market. Anyway.... Now the hard part, which broker should I choose? - must be regulated! I am looking for recommendations. Thank you all
Just find and try brokers that have overcome the Swiss event, you can consider the Swiss event as a challenge to know which is the best broker since they still alive and their trader as well. Not too many brokers.
  • #16
  • Jul 3, 2015 9:49am Jul 3, 2015 9:49am
Quoting studio1
OMF.co.nz are an established full service broker in New Zealand - traditionally a phone based brokerage they have introduced the ctrader platform. I believe there is a 10k minimum opening balance - you can possibly haggle on their brokerage - I know I did. They do not take the other side on any transactions. The other benefit is the research they produce each day and week - and I am on the phone to the guys several times a day talking through FX and Futures trades.

Hi Studio, do you trade with OMF? I am also based in NZ(Auckland) and would prefer to trade with a reputable NZ broker if they are around The other NZ brokers that I came up with are Halifaxonline, PFD nz and DivisaCaptial
  • #17
  • Jul 3, 2015 10:04am Jul 3, 2015 10:04am
LCG is a very good broker. We are happy with LCG.
  • #18
  • Jul 5, 2015 4:24am Jul 5, 2015 4:24am
Avoid IG markets. They slipped my stop by 31.3 pips on normal price movement when there is no event or no news. Look at my post on the IG Markets thread. So outrageous.
  • #19
  • Jul 5, 2015 8:04am Jul 5, 2015 8:04am
Quoting tigwigda
Avoid IG markets. They slipped my stop by 31.3 pips on normal price movement when there is no event or no news. Look at my post on the IG Markets thread. So outrageous.
hi,
what type your account?
dma?mm?
  • #20
  • Jul 6, 2015 6:14am Jul 6, 2015 6:14am
Quoting entheos
{quote} hi, what type your account? dma?mm?
Should be normal account. I opened this account quite a few years ago and didn't changed it since then.
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