Safe and Reliability is the most important for anyone, I believe many traders had tried several brokers and some had piked their best ones. like mohandcherif, my current one is hotforex after longtime selection. wish it will keep their service at the current level as they are growing too.
though the person who started the thread is not here anymore, but this question is really hard to answer, we will all rout for the broker that we are trading with, people tradin with oanda would say oanda is the best and people trading with alpari would say alpari is the best, i trade with hotforex but i wont say that they are the best broker, but they are a broker suited for me I guess at a crtain point there are good brokers that reach a level of excellence that you can't distinguish the best any more!! unless there would be something new to offer that would make earning a lot easier now that would be a plus LOL
GCI Trading - no problems with them (contrary to what I first thought).
I have left many message singing their praises in the last couple of days - take a look at them if you need to.
I did notice that they have an 'Introducing Broker' called Forexion - and although I am still trying to find out exactly what an 'Introducing Broker' is there for - Forexion offers you higher leverage and has an Affiliate Program and Rebate Program as well so if you are interest in using GCI then I would imagine that going with Forexion is the better deal - I'm still not sure why though.
...but GCI Financial is not regulated. That is my main concern
FXCM removes doubt on market makers... (Foot shot good!)
First post from a noob.
I've had the fun of broker selection and one thing I'd add on FXCM.
I had the usual phone call sales pitch after opening a demo account with FXCM (love the software, very slick). A pleasent chap calls once in a while or drops me the odd email. One point I made with him was that I was considering Oanda for the lower spreads. Quick as a flash, I get an email back pointing me to Oanda's own terms & conditions highlighting that they are a market maker broker. (In theory, paranoid or not, trading against you).
Fair enough. Point taken. So I keep digging away, including checking who liquidity providers are for the various brokers. And I find this ...
(I can't post the link, it's my first post, but google "FXCM liquidity providers" and look for the "forexmagnates" link).
Drew Nix apparently is the CEO of FXCM, and when questioned on the lawsuit against them, came out with this gem...
"Obviously this is relevant for those firms that make a market to their clients, but given NFA scrutiny I just can’t believe any of the large market makers in the United States are actively manipulating anything either, even though they might have the incentive"
And I cough a bit.
The CEO just under cut the nice sales guy pitch on paranoia on Oanda?
All things considered then, I'll stick with Oanda using MT4 for marking up the charts and the java (works in Linux guys!), platform for the trade entries, which is a combination that rivals FXCM's trade station, with lower spreads, with a company that's been in existence longer ... Oanda also won out for being one of the very very few upfront and honest brokers on terms, roll-overs, spreads, interest etc published and easy to find on the website. Transparency won my cash. A lot of brokers with obscure websites hiding spread & important bottom line cost figures need to learn from that.
My thoughts anyway. Not saying Oanda is "the best". MB Trading also got a very close look, but the MT4 demo bugged out on me enough to worry me during testing.
Hey guys i'm newbie here...just now i considering two brokers that is instaforex and fxopen since they has thier office in malaysia. Can somebody assist me thanks!
Go with FXOpen. Although FXOpen has an office in KL dealing with overseas support and e-sports, FXOpen does not currently have an active sales office in Malaysia as it is against the law to actively promote forex trading according to BNM restrictions. That is why FXOpen (unlike certain other companies that don't care about the rule of law) no longer has sales seminars in Malaysia. If and when the law permits it, we are happy to do so again.