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Can anyone recommend a reliable Broker?

  • #21
  • Jul 26, 2015 4:44am Jul 26, 2015 4:44am
Well i will advice you to choose XM broker or Exness broker.
both are good but my choice is XM, and XM is providing lots of facilities and thier best facility which i like is "Negative Balance Protection"
and XM is also friedly customer staff and you can take lead from them. You can also deposit minimum 5$ and also can withdrawn as well.
and it is also working from long way with us. i love it so much
  • #22
  • Jul 28, 2015 7:22am Jul 28, 2015 7:22am
Quoting JustyJust
I'm only new to trading and have been looking around alot and trying out different brokers. One i have come across that i like is FX Pro. They have 4 different platforms and one called ctrader that i'm using in demo mode at the moment and i love it. Really fast execution speeds with it and it's way easier to set stop loss and take profit, like once you buy and the open line appears on the chart theres a "TP" and "SL" that you just drag from there. So you can set a stop to even 1 pip. Another cool feature is being able to close different amounts...
I used FXpro untill I found the broker with better conditions and opportunities, I mean OctaFx. Their spreads are tight enough - as low as 0.4 for eur/usd...so it's a real help for a scalper to make profit. I have already made withdrawals as I made profits and withdrawals were smooth and fast. Nice done job.
Not sure if they have protection of customers portfolios in case of bankrupcy or something else. Does anybody here have some experience trading with OctaFX.
  • #23
  • Jul 28, 2015 8:52am Jul 28, 2015 8:52am
Quoting mankindeg
So is there anyone here who can recommend a good, reliable broker?
//------

that's probably number 3 on a short list of questions to avoid........
//----

etradefx is my favorite .... this is only due to the fact you can tie all your other etrade accounts, except futures, to it.... this allows you to deposit or withdraw any amount within minutes to a few hours.... they are a ndd broker, fxcm processes the trades..... a possible negative that i'm comfortable with is spreads are not low.... a negative for me is they do not use metatrader..... they use fxcm's marketscope....

oanda is now my second choice..... with my lowest balances but by far my most active..... my experience with them is less than 3 months..... deposits only take seconds.... have not made any withdrawals.... they use metatrader..... two possible negatives for some that i'm completely comfortable with is they are a dealing desk broker and do not have low spreads.....

i also have several accounts with fxcm.... they are a ndd broker with possibly the tightest spreads for any nfa member.... anyone placing large standard lots orders will appreciate that..... deposits take seconds.... withdrawals take days..... they offer metatrader......

....h
to trade and code, keep both simple... no call to impress....h
  • #24
  • Jul 28, 2015 12:38pm Jul 28, 2015 12:38pm
Quoting adeelayub
Well i will advice you to choose XM broker or Exness broker.
Exness are BIG scammers, I would advise everybody to stay away from them. They look good, but they use all the tricks in the book and don't expect to be able to withdraw your profits if you still have some after all their tricks.
  • #25
  • Jul 28, 2015 4:26pm Jul 28, 2015 4:26pm
Quoting Mevo
{quote} Exness are BIG scammers, I would advise everybody to stay away from them. They look good, but they use all the tricks in the book and don't expect to be able to withdraw your profits if you still have some after all their tricks.
100% agree.russian scam.
  • #26
  • Jul 28, 2015 4:45pm Jul 28, 2015 4:45pm
Quoting Mevo
{quote} Exness are BIG scammers, I would advise everybody to stay away from them. They look good, but they use all the tricks in the book and don't expect to be able to withdraw your profits if you still have some after all their tricks.
100% true EXNESS are big scams .

they refused to open an account for me and said they are not interested in business with me because i am making profit most Russian are scams be careful they are for your money .

all trade safe and well and have a nice day
focus while relaxed to see better
  • #27
  • Jul 28, 2015 5:01pm Jul 28, 2015 5:01pm
admiral markets its quite good In my experience had some slippage but was refunded for it and very good customer service

quick deposit and day after withdrawals .

very good mt4 platform too they just developed a new version as well .
  • #28
  • Jul 28, 2015 5:24pm Jul 28, 2015 5:24pm
Half of the names mentioned here have nothing on their websites about regulation and safety of funds... still I guess most people will always be attracted by the wrong things and keep moaning when their broker goes bust. When I choose a broker, first and foremost I want to know who am I sending my hard earned money to, where is it held, how long have they been in business, are they regulated (properly) can I walk in and see the "bricks and mortar", only when those boxes are ticked do I worry about spreads etc.
  • #29
  • Jul 28, 2015 5:47pm Jul 28, 2015 5:47pm
404 error

Reliable Broker Not Found
Perfecting your entry will increase your profits
  • #30
  • Jul 28, 2015 11:57pm Jul 28, 2015 11:57pm
Quoting Hyperion
Half of the names mentioned here have nothing on their websites about regulation and safety of funds... still I guess most people will always be attracted by the wrong things and keep moaning when their broker goes bust. When I choose a broker, first and foremost I want to know who am I sending my hard earned money to, where is it held, how long have they been in business, are they regulated (properly) can I walk in and see the "bricks and mortar", only when those boxes are ticked do I worry about spreads etc.
This is great advice to all those searching for a broker.

Transparency.
  • #31
  • Jul 29, 2015 3:02pm Jul 29, 2015 3:02pm
hotforex is reliable broker... i am checking it since 2 years and i never found any complain against it ...their zero spread account is good for intraday traders but not for scalpers
  • #32
  • Jul 29, 2015 3:32pm Jul 29, 2015 3:32pm
Quoting Hyperion
Half of the names mentioned here have nothing on their websites about regulation and safety of funds... still I guess most people will always be attracted by the wrong things and keep moaning when their broker goes bust. When I choose a broker, first and foremost I want to know who am I sending my hard earned money to, where is it held, how long have they been in business, are they regulated (properly) can I walk in and see the "bricks and mortar", only when those boxes are ticked do I worry about spreads etc.
That's great and reasonable!
  • #33
  • Jul 29, 2015 3:39pm Jul 29, 2015 3:39pm
Quoting mankindeg
Deciding which Broker you want to invest to, can be quite hard and stressfull these days. You see a lot of brokers being scammers etc. and you can never be sure which one to trust. That's my biggest worry to be honest. Commission-/Withdrawal- or any other kind of fees can be a bit annoying but it's perfectly acceptable for me. As long as the broker doesn't scam me and is honest and reliable I am all for it. So is there anyone here who can recommend a good, reliable broker?
the first thing to to think is the platform. the platform is essential. platform that match and suit with us. if our style is need fast execution, multiple position that need fast
execution its different with if our style is no need on fast execution.
we don't predict, we only ride
  • #34
  • Jul 29, 2015 3:52pm Jul 29, 2015 3:52pm
I'm only new to trading and i'm curious when you say regulated. What exactly should we be looking out for? Like i have been looking at Hotforex and they are regulated by FSC & CySEC and FXPRO are regulated by FSA, ASIC, CySEC, MiFID, is this good enough? Is your money safe here?
  • #35
  • Jul 31, 2015 3:51am Jul 31, 2015 3:51am
Quoting JustyJust
I'm only new to trading and i'm curious when you say regulated. What exactly should we be looking out for? Like i have been looking at Hotforex and they are regulated by FSC & CySEC and FXPRO are regulated by FSA, ASIC, CySEC, MiFID, is this good enough? Is your money safe here?
Well basically regulators are the same, but EU, US and UK regulators are considered the safest and the strictest. Hotforex is regulated by CySec, though it's located on Cyprus it gain reputation year by year, they provide compensation fund for investors (20K EUR if I'm not mistaken). So you can try them I guess.
  • #36
  • Jul 31, 2015 4:35am Jul 31, 2015 4:35am
Quoting JustyJust
I'm only new to trading and i'm curious when you say regulated. What exactly should we be looking out for? Like i have been looking at Hotforex and they are regulated by FSC & CySEC and FXPRO are regulated by FSA, ASIC, CySEC, MiFID, is this good enough? Is your money safe here?
Personally I'd prefer anything UK regulated. Please keep in mind that regulated and registered are 2 different things.

Someone mentioned Dukas and Russian. I don't care where the owner is from, Dukas is in Switzerland, they are regulated there. They may not be perfect (who is anyway?) but they have a custom platform, no MT4, nice Java one great if one is a Java developer by profession, you can do so much more and so much more professional than with crappy MQL. I don't want to defend the broker here, I have no first hand experience with them but I know a few people trading with them and these are no lunch money gamblers.
BTW: Developing a thing like Jforex including the server backend is no easy or cheap task, they must have invested quiet a lot of money. (I used to be a software developer, I charged nice 5 to 6 figure numbers for relatively easy applications).

Quoting Hyperion
Half of the names mentioned here have nothing on their websites about regulation and safety of funds... still I guess most people will always be attracted by the wrong things and keep moaning when their broker goes bust.
I agree with you, but hey: lunch money brokers for lunch money traders. From a practical point of view the marketing is totally stupid but that seems to work. Leverage of 1000:1, yeah great, try to max that out - kill or double your account in 10 pips or so. 20 banks fighting each other to give you the best price for your micro lot And don't forget the nice red Italian sports cars.
  • #37
  • Jul 31, 2015 1:55pm Jul 31, 2015 1:55pm
There is no such thing as "reliable broker".There is no such thing as "broker" if you ask me.Not for people struggling here at FF to get answers.Not for us standing at the bottom of the food-chain.I started a thread about transparency (Brokers, put the fish on the table!).No broker was interested to defend their cause.Fellow "traders" were not seduced by the subject in a serious way. Apart from the obvious animators the others seem to really belive that one can make Money in Forex, IN THE WAY THIS ACTIVITY IS CONDUCTED AT PRESENT. The Beauty of things is that they can scam you in a perfectly legal way!Regulated or not it does not really matter.
What is most annoying is people blaming one for one`s demand of TRANSPARENCY,assuming you are one who lost Money and bitter.That is not Always the case and definetly not mine!

I must recognize that I myself am fascinated by Forex, demoed for years but cannot and want not feed people that are not open with their bussiness model.
My advice is to take your Money and run.Read a lot about these scammers you will find horror stories about cheated people.
  • #38
  • Aug 2, 2015 7:43am Aug 2, 2015 7:43am
Check activtrades! They are UK regulated and verry good!
  • #39
  • Aug 2, 2015 8:19am Aug 2, 2015 8:19am
I just sign up for Activtrades Broker..im trading with exness before untill i noticed they manipulate my trading..im a scalper..did anyone using activtrades broker before?
is it good for scalping strategy? or which one that u guys will sugest? im looking for the lowest spread with less/no commission for gbpusd pair.and for sure is regulated and true ecn broker..any suggestion and opinion?
  • #40
  • Aug 2, 2015 12:07pm Aug 2, 2015 12:07pm
The important thing is to learn to distinguish between those who are actual brokers and those who are pretending to be brokers.

A "broker" is someone who executes trades on your behalf in an underlying market (in the case of forex, that's the interbank market, of course).

Most of the ones widely recommended in this forum aren't actually brokers at all: they're counterparty market-makers who trade against their own customers by holding the other sides of their trades, while also holding their customers' deposited funds, and making up and interpreting themselves all the rules by which the transactions are governed (and sometimes even making up the prices internally, too). You don't have to be Einstein to see that they have a direct and obvious incentive for their customers to lose money.

Some of them even choose to be regulated "offshore" in easy, low-regulation countries like Cyprus (no prizes for guessing why!) which enables them to say truthfully in their publicity and advertising that they're "EU-regulated".

If I need to make a recommendation, to post in this thread, I'm happy to recommend "Interactive Brokers". They're reliable and honest. They're also an actual broker, if anyone's interested. That means they don't have an incentive for their customers to lose money, because it doesn't affect them, either way.
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