FXCM, Oanda and forex.com, Which is best?

From what I saw, they (MB) do offer mini lots for metatrader or for their own platforms, plus it looks like they have a “free” EXN plan in addition to other options. Looks like you can pick your poison based on what works best for you, which looks good on paper – just curious if anyone has any more in terms of how they are compared to the others like Oanda, FXCM and forex.com

Just curious about the forex club…was in Kiev last month and i saw their sign in the business district…and it was a nice district…

  1. FXCM - ECN with unique platform - for professional traders
  2. Oanda - low initial deposit and you can trade with 1 unit - for beginners

But in my opinion the Dukascopy Bank is the best… it’s a SWISS bank with the biggest ECN liquidity

US Residents cant use Dukascopy.

Yes, it’s true. people from US, Japan Iran, Turkey… But Dukascopy has a white label partner in US and Japan, They use the Dukas background.

I believe you mean Alpari. can you elaborate on others?

I’d go for FXCM. They have MT4 platform and also publicly traded on the New York Stock Exchange.


All things are difficult before they are easy.

I have used all 3, I prefer 1.Oanda 2.FXCM 3.forex.com

I use FXCM, and like their charts. I used forex.com in the past and their charts software always crashed.

Hi, when you say MB, do you mean MB Trading? Is it good when it come to GBP if it’s the base currency or as long as it’s one of the currencies in the pair? Have you been using this broker? Thanks!

If you’re already experienced, try FXCM. They are publicly traded to the NYSE. Those guys know what they are doing and are good at it.


All things are difficult before they are easy.

Yes, MB Trading. Sorry for the confusion. I’m in the US, so not sure about the base currency being GBP or how good or not good it is – I do think MB Trading does have a UK presence now, too, so that might be worth looking into and a better answer for you, that is, if you’re in the UK! I did finally open a live account with them and so far, I think they’re a solid broker. I won’t sit here and say they beat all the other brokers because I think we all know each of them have their issues, but in my experience so far, MB Trading has met my need in terms of the basics like execution, tight spreads, etc. I will say that one of the things I came across while researching various brokers is that MB Trading maintains a pretty solid presence in the Forex Factory broker forums and reading through chunks of that forum gives you a good idea of the good and the bad with regard to MBT. They seem to be pretty attentive to any needs/issues that people bring to their attention and I liked that they investigate issues that are brought to their attention and they face up to things whenever they do have technical issues. You could probably make arguments all day long for or against any broker, but knowing they all have their issues from time to time, I think it’s more significant to see how the brokers handle things when the do go wrong. Anyway, my experience with them has been really good thus far.

Has anyone checked out MahiFX yet? They’ve launched now and according to the press they are offering pricing down at EUR/USD 0.8 pips, EUR/GBP 0.8, USD/JPY 0.8. I’m just about to log into the demo account and see if the platform is any good :slight_smile:

Totaly new to this . Want to know if you guys with real accounts have ever had a hard time getting your money cashed out?

The site looks very attractive, they have a very good designer:) Very interesting that they are proud that they are market maker. Never see like that before. Interesting…

My advice would be to stay away from new small brokers, and wait till they have an established reputation for integrity and quality. Traders obsess over the spread size (I used to be the same way) but unless you’re trading 5 minute charts, the spread is one of the least important things about your broker. Too many of these start up firms have turned out to be bucketshops, or worse ponzi schemes. You’re better off picking a company that has good support and you know will pay you promptly should you ever turn a profit.

Personally I use FXCM. Their spreads are competitive and if you sign up through cashbackforexusa.com or a similar rebate company, you get 0.7 pips rebated per trade, which can be pretty significant at the end of the month. Their platform is very stable, and as long as you’re trading the majors the spreads are just fine. That said, I’m probably looking to open a second account at a new broker soon, ATC brokers looks promising.

One more thought about FXCM. Make sure you open a standard account, not a micro account if you’re serious about trading. Correct me if I’m wrong, but i believe FXCM makes the market for the micro accounts while the standard account is an STP model so you don’t have the conflict of interest with the broker.

Hi Warlock,

FXCM used to make the market for micro accounts when FXCM Micro was initially launched. We did this because I believe only 2 liquidity providers were accepting micro lots via NDD at the time and spreads/execution would have been poor with only 2. Over time, more liquidity providers started to accept micro lots via NDD, and all micro accounts were switched over to NDD a few years ago. So all forex transactions, including micro, with FXCM are now executed via NDD.

Hope that helps :slight_smile: and have a great weekend.

Jason

Excellent Information, thank you. I knew you’d step in if I got my facts wrong. FXCM Really does take the right approach to their business.

My choice is Oanda from this list.He is provider of the liquidity for many well-known financial institutions.