First of all I want to congratulate you guys on creating such a place for people new to forex.
I’m new to forex, but have traded shares before. Right now I’m looking for a trusted broker, without any horror-stories on the record. You see my dad is EXTREMELY sceptical to the whole leverage-stuff, and the fact that one can loose more money than one has put in, in the first place. Preferably the broker should offer 1:200 leverage, but not be likely to refuse liquidation of ones position when things goes bad, and so on.
So i will be very happy for all serious replies, and broker recommandations.
Is that not a contradiction in terms? An Oxymoron?
Only kidding - I tend to get a bit carried away when I have nothing else to do while waiting for my broker to open on a Sunday night!!!
Anyway - for what it’s worth - I ‘trust’ GCI Trading.
Basically - from what I have managed to gather in such a short space of time - if you don’t f**k the broker around by trading the news for example and are in positions for the medium to long term haul then they are all pretty much of a muchness.
You could go and have a look at a site called Forexbastards but I’m afraid that you will find more negative reports about EVERY broker than positive ones although I am of the opinion that the negative comments for the most part are posted by idiots like me who lost money but then (they) decided to pull out there and then and blame the broker.
Actually, come to think of it, the only broker that does not have ANY bad comments about them on that site is a Swiss outfit (I forget what they are called) but you need a minmum of $50 000.00 USD to open an account there. Well - maybe one day!!!
Just as a matter of interest - they interviewed the chap that started Lime Brokerage on Bloomberg sometime this past week. I am trying to get a hold of them to see what their deal is. They are a non-dealing desk broker and they guarantee instantaneous order execution due to some or the other revolutionary system that he designed. Basically - this is a scalpers dream!!! You could make an absolute fortune in minutes by trading exotic pairs on a system like that - but I have a feeling that they are only interest in the ‘big boys’ - not noobs like me - but - you never know.
Could I ask why you want 200:1 leverage? just curious anyways, there are a good amount of reviews in the “rate my broker section” so you should get a good idea there. But I think as long as it is a registered broker ur fine. Anyways best eh, have a good one
These guys are not to be trusted.
I am using them and awaiting to close a few positions to run helter skelter away.
I have had good vibes with CMS, MT4 and OANDA.
I cannot vouch for them as yet.
"This broker’s service is better than the competition in these areas:
As an affiliate of GAIN Capital, one of the largest and most respected online forex firms in the industry, Forex.com clients also receive the benefits of GAIN’s financial strength, solid trading and technology infrastructure, as well as the firm’s depth of experience servicing forex traders around the globe. "
If your looking for a broker, I can help you out with that. I work as an introducing broker for ACM, Advanced Currency Markets. I can also give you some benifits for signing up through me.
MB Trading is the parent company of EFX Group, their FX arm. so if you are into FX, i’d suggest you look into EFX as well, which btw is an ECN and not a MM.
whenever someone has a negative post about a broker , some company brown-noser has an opposite point of view. I am beginning to see a pattern in these forums…advertizing= big dollars for web site. I have been in business for myself for many years…I may not know forex…but I know when something stinks…lol…second to none…who the f*** says that about anything unless their being paid.
Agree, we must know where broker is regulated, how their trading conditions and we also must know how their transactions process about deposits and withdrawals.
