It is the year end and good time to sum up 2016 and look forward to 2017. Brokers can be impacting profit and loss line and many other things in the coming year. Would like to give feedback on brokers as well as have some. This is the list of some brokers that are on my mind. Are you looking for new broker as newbie or switch brokers/upgrade and so on? By the way, how many pairs you usually trade? Suggest for newbies to try demos of Pepperstone, OANDA, IB, FXCM and others before deciding on brokers.
On the forums see Pepperstone, OANDA, IB and others discussed. The spreads are good on Pepperstone some say. Where are the spreads better in your view guys. The IB is good for people looking to trade in many instruments including stocks. OANDA for newbies and experienced traders. About few months ago OANDA introduced what is described the fastest execution platform for retail traders. Lol, did not time it but it was pretty fast. It has CFD, commodities, bonds for European and Asian clients with lots as small as it gets and premium accounts too. Looking at brokers for newbies trade lot size matters. For newbie and these that like to do a lot with small, with OANDA you can get 1 euro, pound trade for just few cents. Oil contract for 50 cents a barrel or sugar for 1 pound unit contract for 1 cent. FXCM is decent, but for someone with $500 deposit there are much more options with OANDA. Used both of them and can get refer bonus if someone is looking to open account there. Bonuses can be $100, $200 and depend on the deposit. Plus500 is been growing, but never used so interested in a feedback. Did anybody used their platform? Avatrade has many bonuses, but it is complex. Saw offers on no deposit bonuses during this holidays. Some of them are looking questionable, some are decent. When it says 100% of deposit as bonus it looks a bit unrealistic.
Happy holidays and all trading wishes come true in 2017.
Since I am not endorsing or recommending any broker over here; however, i guess hotforex, fxprimus, octafx, lmfx etc can also be shortlisted while considering any decent broker.
Thank you will check them for 2017. The point here is to find or update flexible and decent broker from spreads to minimum lots. Do have these referral bonuses that can help people and follow deals to see what is out there. Kind of reevaluation for the next year and thanks for the feedback.
Never heard of them. Thanks, hope you get all wishes in 2017. Based on various rankings the list of top brokers is Hotspot, OANDA, IB, FXCM, Pepperstone, OCTAFX, …. It might well suit different people as well to what type of broker they feel more suited. Best Forex Brokers - NerdWallet The Best Forex Brokers of 2016 | Top Ten Reviews
90% of forex broker reviews on blogs are paid. No wonder why we can discover for example OCTAFX there… or did you intentionally put them along with reputable ones?
Do you put brokers on forums based on your experience with them or something you read here? For me, put the brokers based on what experienced with them. Sometimes someone suggest and hope they are not exaggerating. Found that most these links do not represent true benefits of brokers. For some reason OCTAFX was showing up in the so called ranking, do not know why. Instead of picking on something irrelevant, suggest something for real or tell people about no scam bonuses, promotions, brokers as suggested about Pepperstone, OANDA,) IB (good for 24/7 traders, various markets)… With some have more than 5 years of experience. Please input something useful or tell others to tip about brokers or read this post.
whatever the broker (while we all know there are many that are bad) I just hope traders make profit, its not a broker competition though its more of US traders trying to make a decent profit out of them LOL, but yeah, good broker and best of luck, there are broker to be avoided i guess, and many bad ones that fail to get closed, or remain in the gray areas, recently CySec sanctioned ironfx, but with all that complaints im quiet amazed how can such a broker hang on for so long, i might be wrong, and i just hope its works good for the investors. cheers and lets have a good 2017
Must say the replies are not always concrete. Can you guys give more detailed examples. For US or other traders OANDA might be the best choice as the min lot is 100s smaller to enter than 0.01 mini lot and good spreads mostly. As told can help with opening bonus through referral or just say latest promotion for them and others. If you have look at spreads and pips with large lots IB, Pepperstone and some other choices seemed to be good.
I haven’t heard of FXprimus or Imfx, but I have traded with Hotforex and wasn’t entirely pleased especially with their bonus which was taken back once I requested for withdrawal. As per OctaFX, I am working with them currently, so they are definitely my pick.
Do you mean Hotspot or Hotforex? If it’s HotForex than I don’t agree, as they are not that good while rest of the list is very good and most of these are highly reputed one.
No. As mentioned Hotspot, never heard of similar named broker. Number 1 is OANDA, still use it, as newbie got it in small amount of $1 and told that can refer newbies/anybody with New Year large bonus. One brokers is not good with such risky subject as Forex. Always, have few brokers to hedge.
Did you think credit bonuses can be withdrawn? Of course they are not as their main purpose is decreasing stop out level to 0. I used that bonus from Hotforex and my experience was really great as it helped to earn more from news trading.
So, suddenly you’re not designated as a “verified analyst” any more, but you’re still being paid per post by Hotforex for mentioning their name in as many posts as you possibly can, here?
The proportion of your posts in which you mention Hotforex (usually in conversations that have absolutely nothing to do with them at all, i.e. completely gratuitously!) is absolutely [B]enormous[/B].
[I]We can all see that it’s what you’re here for.[/I]
I [U]would[/U] say that it’s “laughable”, but the reality is that it’s altogether beyond a joke.
You should never be amazed or stunned at such a thing.
CySec are nothing, based on a very small island and their HQ is a hut with 2 people running it who accept pay offs and throw out a license to anyone. I would never run with a broker who have been CySec approved, they’re a joke and everyone knows that.
Side note, OANDA is not a good broker to trade with due to their mass spread abuse. I made a post on this not to long ago and many others have came forward with evidence that puts OANDA to shame, be very aware of your trades and watch what happens if you are trading with OANDA.
I ran test trades on a demo account, take a look at those results in the below thread.
Speaking of new platform v20. Your trades covered the holiday week. Would never do it. People did replies to this.
And besides, truthfully, you shouldnt be trading this time of the year. ( this week, till Jan3rd )
Have brokers that say 0.2 pips and on the news they go up crazy, so all brokers rip of clients. Now they have the fastest platform for FX retailers, for 90%+ it does trade within normal range and do not trade much in FED announcements only and too large news. The idea is for people who trade fast or with minimum capital less than $500 or like $10 to use them to understand if FOREX is for them as they can trade as low as $1 lot. Can refer a friend with decent welcome bonus, but New Year special is ending soon.
Do not give 5 stars to any broker. All of them try their own ways to take profits from traders.
Just for further clarification other traders have been posting regarding OANDA abusing pip spreads and Lexy has been saying this as well, can’t just be coincidence can it? You should also know that these kind of spread spikes make it extremely difficult for the average trader to actually trade on their platform, just not the type of broker anyone would go near with half a brain. 10-20 pip jumps are so high that these can actually impact daily swing traders which means this kind of abuse can decimate people playing on much lower time frames.
Not only that, but the person who first brought this unpleasant development to my attention, a few weeks ago, was Manxx, for whom I have the greatest respect.
It seems to me to go well beyond coincidence.
Accordingly, in spite of all my (now rather distant) favourable experiences of Oanda, I won’t be continuing to recommend them to anyone here - at least for the moment.
I completely agree. I definitely wouldn’t be willing to try to trade there, now.
Everybody can put red color to the fonts on 1000s of messages here that are more important and more debatable. Please write like everyone else in black who agrees and disagrees with you, especially if the post is not originated from you. In my posts before have told that spreads are not the best with many brokers out there and them too. With other brokers besides spreads there are some other fees that are hidden sometimes.
Overall, nobody should rely on my or your or anybody’s comments. People should demo themselves regardless of what is said in this forum and compare brokers. Your demo was in December and January is not it? Was talking about their latest platform. Not everybody is a swing trader. One broker can be suited for particular trader, but can be bad for other one. Note, some people trade different style and do not have opportunity for large deposits and some lot sizes.
What you can do is move to discuss spreads of other brokers, fees, lots minimum sizes and compare as overall package, but do not do in red ink. IDK, try violet if it feels like painting.
