FXCM, Oanda and forex.com, Which is best? - Page 4
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  1. #31
    Join Date
    Nov 2011
    Posts
    40
    My main interest in FXCM was their trading platform which seems great on PC and Android. Unfortunately, I won't be putting it to the test.

    Another reviewer mentioned the Forex.com platform being a bit clumsy. I agree. I am not trading with Forex.com until I can do so using a third party platform.

    Again, Oanda's platform leaves allot to be desired but it does execute instantly and has never had a hiccup. Its just hard to really get a visual on what price action is doing. Their Android app is also very reliable but has no bells and whistles.

    So, I'm starting to wonder if it would be worthwhile to place my trades on Oanda while using two or three free platforms for reference.

  2. #32
    Jason Rogers's Avatar
    Jason Rogers is offline Verified Broker Support and Analyst for FXCM FX-Men Honorary Member
    Join Date
    Jun 2009
    Location
    New York
    Posts
    3,328
    Quote Originally Posted by forexcalibur View Post
    Save it. This is the crap I'm talking about. You have reps lurking in every forum to save face publicly but when I make a customer service call I get nothing but ignorance.

    If my offer to help came across as anything other than sincere, I apologize. While you may be new to the BabyPips forum (welcome btw), FXCM has been present on the forums since 2009 helping traders with questions/problems, and we’ve had our own dedicated Broker Aid section since 2010, Broker Aid Station. Far from lurking, I’m here to help anyone with questions about FXCM and/or fix problems, and you can find me on nearly every forum. If there’s a problem, we’ll own up to it and do our best to help. I know that you only get one first impression, and I’m truly sorry if we blew it. I don’t know what experience you had with FXCM customer support over the past couple of months, but from your reaction I wish I knew so we could work to ensure it did not happen again.

    All the best with your trading,

    Jason

  3. #33
    Quote Originally Posted by conan View Post
    Hallo guys, i am quite new to FOREX trading and I really really wish i can find the best broker to start my real trading with. right now i am using a FXCM demo account and got accustomed to the trading platform but have heard FXCM is a 'trading desk' and may 'trade against you'.

    May I please ask what do 'trading desk' and 'trade against you' mean and is it bad for a forex trader like me?

    Also, I have heard Oanda and forex.com are good websites to place your money in forex with. So i really want to ask, out of FXCM, Oanda and forex.com which is the best dealer?

    Thank you very much and hope for your answers.
    Don't bother with Oanda, they are 'playing cheating games' just like the other bucketshops.

  4. #34
    Join Date
    Dec 2011
    Posts
    169
    FXCM. I've used their micro account before, so I would vouch for them

  5. #35
    Join Date
    Nov 2011
    Posts
    40
    This is the first time I heard anything bad about Oanda and have never heard it referred to as a Bucket Shop. Would you mind expanding on your experience? I trade with Oanda and so far, so good, but I have not really invested huge sums with them. Please elaborate!

    There was the claim of a 200 pip spread I saw somewhere but I chalked it up to a system error. Maybe there is some truth?

    Thanks

  6. #36
    Join Date
    Nov 2011
    Posts
    22
    Hi guys. Am new to Forex. Been using the etoro webtrader and mobile app.

    Anybody have any experience with etoro?

  7. #37
    Join Date
    Nov 2011
    Posts
    40
    LOL. I started that exact way on Android. When I started clicking buy USD/JPY on etoro and making hundreds of demo-dollars per day with never a loss I was hooked. But I had no idea why I was winning. It was chance.

    I quickly graduated to a more sophisticated platform. Etoro does not have any technical analysis tools either in their apps or online platform. So, although I can't say I have traded live with etoro, I cant imagine trading with them now. Its like trading blind. Once I knew about Forex I started scratching my head about how anyone can trade with etoro. Maybe if you are a strictly fundamental long-term trader it is OK, but most traders are not. So I have to assume that a successful etoro trader uses other tools to make their decisions and place their trades on etoro.

    But the majority of etoro folks are "social traders" and I would guess the majority are not very successful. IMO, Etoro is fun, but not for devoted traders who need to earn a living. This is just my opinion, having tried it.

    Now I trade mobile and PC using Trade Interceptor. It is the most featured mobile app you can get. Forex.com had a nice platform for a while buy they ruined it with an update. So I stuck with Trade Interceptor.

    DO take the Babypips School course. DON'T pay anyone for training or mentoring. Also, check out the many webinars at forexpros.com
    Last edited by forexcalibur; 12-14-2011 at 07:07 PM. Reason: Spelling

  8. #38
    Join Date
    Nov 2011
    Posts
    40
    Quote Originally Posted by Jason Rogers View Post
    If my offer to help came across as anything other than sincere, I apologize. While you may be new to the BabyPips forum (welcome btw), FXCM has been present on the forums since 2009 helping traders with questions/problems, and we’ve had our own dedicated Broker Aid section since 2010, Broker Aid Station. Far from lurking, I’m here to help anyone with questions about FXCM and/or fix problems, and you can find me on nearly every forum. If there’s a problem, we’ll own up to it and do our best to help. I know that you only get one first impression, and I’m truly sorry if we blew it. I don’t know what experience you had with FXCM customer support over the past couple of months, but from your reaction I wish I knew so we could work to ensure it did not happen again.

    All the best with your trading,

    Jason
    Thanks for your sincerity Jason.

    If I thought your help would matter I would take up the opportunity. But all your service reps do is justify their errors and ignorance. They have not taken responsibility for the broken website application process and general lack of knowledge and communication.

    Still, Thanks for your concern.

  9. #39
    Join Date
    Nov 2011
    Posts
    40
    Quote Originally Posted by conan View Post
    Hallo guys, i am quite new to FOREX trading and I really really wish i can find the best broker to start my real trading with. right now i am using a FXCM demo account and got accustomed to the trading platform but have heard FXCM is a 'trading desk' and may 'trade against you'.

    May I please ask what do 'trading desk' and 'trade against you' mean and is it bad for a forex trader like me?

    Also, I have heard Oanda and forex.com are good websites to place your money in forex with. So i really want to ask, out of FXCM, Oanda and forex.com which is the best dealer?

    Thank you very much and hope for your answers.
    Trading "against you" means the broker is taking the other side of your trade. This is a separate issue form the nature of a trading desk. Check out the Pip school for explanation of trading desks. I know its not very comprehensive but it will give you enough to do further research. Different Types of Brokers | Brokers 101 | Learn Forex Trading

    Best wishes.
    Last edited by forexcalibur; 12-14-2011 at 07:37 PM.

  10. #40
    Join Date
    Nov 2011
    Posts
    22
    Quote Originally Posted by forexcalibur
    LOL. I started that exact way on Android. When I started clicking buy USD/JPY on etoro and making hundreds of demo-dollars per day with never a loss I was hooked. But I had no idea why I was winning. It was chance.

    I quickly graduated to a more sophisticated platform. Etoro does not have any technical analysis tools either in their apps or online platform. So, although I can't say I have traded live with etoro, I cant imagine trading with them now. Its like trading blind. Once I knew about Forex I started scratching my head about how anyone can trade with etoro. Maybe if you are a strictly fundamental long-term trader it is OK, but most traders are not. So I have to assume that a successful etoro trader uses other tools to make their decisions and place their trades on etoro.

    But the majority of etoro folks are "social traders" and I would guess the majority are not very successful. IMO, Etoro is fun, but not for devoted traders who need to earn a living. This is just my opinion, having tried it.

    Now I trade mobile and PC using Trade Interceptor. It is the most featured mobile app you can get. Forex.com had a nice platform for a while buy they ruined it with an update. So I stuck with Trade Interceptor.

    DO take the Babypips School course. DON'T pay anyone for training or mentoring. Also, check out the many webinars at forexpros.com



    Thanku for ur advise... I am making my way threw the school of pipsology. The reason I opened practice accounts is to practice as am learning. But I find ur right. The etoro web platform had no trade tools really.

    I will defo check out the website.
    Thanks

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