Ummm… are you with the IRS ? 
just kidding… LOL
Good point. I believe that many brokers have a maximum trade volume size. But I think you can open up many trades at once too. Not sure if you can do a $10,000 binary options trade on any reputable platforms at the moment. Anyone know? I would not do it anyway.
Yes, one solution, other than searching for another broker, is to make consecutive trades, one right after the other, each with the maximum allowable volume until you have used up all the money in your account that you want to risk. A recent online chat with TradersWay support confirmed that this is a way to get around the volume/leverage limits on each trade most brokers impose. I was pleasantly surprised a day or two ago when I contacted Tallinex support through their online chat window, to learn that Tallinex does not automatically reduce leverage step ladder wise as the size of the account increases. The representative said basically, “depending on the circumstances,” that I might very well be able to place a million dollar currency trade using the EUR/USD currency pair, for example, [B][/B] [B]using 500 to 1 leverage[/B]. Most brokers automatically reduce leverage as the account grows. TradersWay limits leverage to 100 to 1 when the account reaches $50,000 or more, which is really not bad at all for that much money.
The money I’m trading with certainly does not even approach a million dollars, but these things are good to know in case one later does strike it rich in the financial markets. It’s at least nice to dream a little once in a while. And I am not an IRS agent, although at least one of them probably keeps an eye on this very public forum, regularly.
The IRS, the CFTC and the NFA. You can count on it.
That’s quite correct… we don’t have a step-ladder system - we have a risk-assessment system that looks at a number of factors over a rolling 30-day period and decides how it needs to adapt your leverage.
By considering things like: account type (Pro/Micro), account balance, average floating P/L, trade sizes, mix of traded pairs, whether trades are held open at weekends, etc., it can increase or restrict your leverage accordingly and treat you as an individual while minimising the risk to Tallinex.
I just wanted to reiterate what I said on 2015.03.02 but with a few more additions.
So far this week [B]Tallinex ECN-PRO[/B] account spreads have been [B]lower[/B] than all other brokers I have analyzed. Their charts are also displaying their live quotes exactly and in real time. This is something apparently not all brokers do.
[B]In my opinion Tallinex is the best broker on the list. Their ECN-PRO spreads are the lowest, their charts reflect real time quotes and they have exotic pairs. I have noticed many brokers not offering exotics. [/B]
I would also like to add that last week after trading a couple of major economic releases that my stop losses were triggered with [B]zero[/B] slippage even on [B]exotic[/B] pairs! Another important factor that I already knew about Tallinex which further separates them from the rest was already mentioned recently:
“I was pleasantly surprised a day or two ago when I contacted Tallinex support through their online chat window, to learn that Tallinex does not automatically reduce leverage step ladder wise as the size of the account increases.”
[B]My vote goes to Tallinex.[/B]
Thanks for your comments on Tallinex.
As for voting, we are no longer voting for [B]Tallinex[/B] (or [B]FX Choice[/B]), because they both were designated as “trusted brokers” last month. — See this post — 301 Moved Permanently
Among the remaining 13 brokers in Group 1 of our List, the voting stands as follows:
[B]Trader’s Way[/B] — 4 points
[B]Profiforex[/B] — 3 points (plus a “maybe”)
[B]Assets FX[/B] — 1 point (plus a “maybe”)
[B]Forex Broker Inc[/B] — 1 point
[B]Sensus Capital Markets[/B] — (2 “maybe’s”)
I don’t know if you and I are looking at the same numbers, because when I look at Tallinex’s spreads + commissions, they are almost always higher than Sensus or Profiforex. Tallinex shows a 25 point spread currently with a 6 point commission on the GBPJPY totaling 31 points, while Sensus shows a 15 point spread with a 7 point commission totally 22 points. Profiforex shows a spread of around 20 points with a 2.5 point commission totaling 22.5 points on GBPJPY. Tallinex’s commissions as well as their spreads are almost always higher. I’ve been watching their GBPJPY spread carefully, and I notice that for split seconds they drop down to very low rates, such as 13 points, however then they jump right back up to 25 a split second later and stay there.
I understand they’re a trusted broker, but their commissions and spreads are nothing to brag about in my opinion. However, if someone could prove me wrong on this matter, I would love to be wrong about their spreads so I can go with the best broker, but for now I still stand with Sensus and Profiforex.
Also, while I haven’t traded live with Sensus, I have spoken with their customer support and I do like their spreads as well as their history, so I vote for Sensus on top of Profiforex which I believe I already voted for.
I was surprised when I read your research.
So far I’m trading with Paxforex for more than two years. Of course they do have some minuses, but that is inherited in the market.
So far I have the following experiences:
- Some re-quotes (only during news time)
- Slippage twice (when I tried to play the news)
Those two minuses I’ve had with every broker that I traded with.
What I like with Paxforex is: - Support is really fast and friendly (especially Anastasia, she is my account manager)
- Withdrawal is absolutely no problem (I already withdrew three times more than I deposited)
Basically my profit is all I care about. I believe if a broker quotes me well and withdrawals of profits into my bank account go without any problems, it is good broker.
For example I have experience with Saxobank and Ironfx (both of which do not accept US clients). Saxobank is a nightmare for traders, but they allow withdrawals of your profit if you manage to get them. Ironfx, more or less, is dependent on how much profit you make (so far I did not try to withdraw any profits).
I am aware that Paxforex changed their address twice as I remember, but they never claimed that they were regulated. By the way, Alpari also changed jurisdiction from a regulated NZ company to an unregulated St. Vincent one and they are one of the biggest brokers in the world! Let’s look at their big brother Alpari UK witch is a regulated broker and BOOM! They are bankrupt.
I meet many traders who have many more problems with regulated brokers than with unregulated companies.
My opinion is that you can only take into consideration the real trading experience of other traders with each particular broker.
I looked at Sensus and also Profiforex spreads and they both seem to be higher than [B]Tallinex ECN-PRO[/B] accounts. Moreover, the commissions are as follows Sensus ($10), Profiforex ($7) and Tallinex ($6).
You have to make sure you choose [B]Tallinex ECN-PRO[/B] accounts.
Also, last week I traded a couple of major economic releases and incredibly had [B]ZERO[/B] slippage even on an exotic pair. I was amazed.
Also, I believe Sensus only has 1:200 leverage. I can already see that Profiforex seems to have higher spreads than [B]Tallinex ECN-PRO[/B] but I have yet to see if they have slippage or not.
As I went to some length explaining a few posts back, you cannot rely on demo accounts when evaluating a broker - the only safe way to evaluate a brokerage is to open a live account.
Yes, I’ve read almost every post for the past 2 - 3 months including the post you made regarding demo / live spreads. After reading the post, I decided to switch to my live Profiforex account and compare spreads with my demo account. I found virtually no difference between the two accounts while comparing GBPJPY spread, I’ve checked again today to verify. I cannot speak for Sensus, as they require you to deposit money before logging into their MT4 platform with a real account.
However, if I find that they are indeed manipulating the demo account spread, I will definitely report that back here.
Please reread my post. I did not mention anything about PaxForex claiming to be regulated. What I said was that they claim the company is incorporated in St Vincent and the Grenadines yet St Vincent itself says they are not.
Of course, there any many legitimate people doing legitimate things with IBCs, but when an offshore jurisdiction goes out of its way to warn the public that a company is making false claims about its incorporation, we should take this very seriously.
My opinion is that you can only take into consideration the real trading experience of other traders with each particular broker.
I believe that PaxForex may very well have good services and pay its clients, but I disagree with your statement. Red flags (like this one) will prevent those of us who have traded with other brokers from ever trading with those who exhibit questionable characteristics. Of course regulation is not nearly everything; I have had issues with Forex.com, a CFTC regulated broker.
In my opinion, as we are a community trying to help each other out, we must consider all arguments in the vote as long as each vote is met with a viable description/contention.
Please see my previous post relating to my opinion about why everyone should be allowed to vote in this, regardless of having traded or not.
Further, in my original message you have quoted, I stated that we need to be cautious and should stay away from PaxForex until someone brings something concrete to the table as to the whereabouts of their incorporation. The SVG Financial Services Authority would not have taken the time to make a post on its website about PaxForex if it did not feel it was necessary. They have thousands of IBCs.
Another BIG PLUS from me for TradersWay.
I won’t post the lengthy email I received assuring me that they
stand behind their Binary Options trading results, and will
resolve any reasonable (non-trivial dispute) on outcomes.
I could probably request to post the email, but not necessary
so I won’t post it here.
A dispute on a Forex-based Binary Option of 0.2 PIPs price
difference would obviously NOT be considered reasonable, and
would NOT be honored. But any reasonable and provable
trade discrepancy is honored by TradersWay and they attempt
to charge it back to SpotOption which does not always reimburse
them.
Their “price” by the way, on the Binary Options is the MIDPOINT
of the BID and ASK price on their reference price feed.
Nevertheless, there was no hesitation in their claims to stand
behind any reasonable dispute, subject to an understanding that
sometimes “sh*t happens” in trading, and I am confident that
an honest and reasonable relationship exists.
Now just wait until I have a REAL dispute Nevertheless
I feel confident right now with those unequivocal assurances.
We are all aware of the potential risks of dealing with Binary Options
in an unregulated context. However, at this time, I’m more than
willing to dip in and am hacking some support code for fast triggering
as we speak … 
// this is part of my proprietary code
if (absolutelyCertainToWin(symbol) ) takeTheTrade(symbol); // java
Good Trading !
HyperScalper
The point-count is being updated (see below).
Thanks for your contributions, Tim.
Previously (in post #2629), you voted “maybe” on both Sensus and Profiforex.
Based on your latest post, I will change your vote from “maybe” to “yes” on both.
FxAll, it’s not clear from your post whether you are adding a “yes”, a “maybe”, or no vote, for PaxForex.
Please clarify this for me. I will wait to hear from you, before recording anything.
Hello again, HyperScalper. Thanks for your detailed reports on Trader’s Way.
Your “yes” vote for Trader’s Way (in post #2686) has already been included in the previous tally.
(I’m being careful not to double-count any votes.)
[U]Updated Vote Tally[/U] — top 5 brokers by point-count
[B]Trader’s Way[/B] — 4 points
[B]Profiforex[/B] — 4 points
[B]Assets FX[/B] — 1 point (plus a “maybe”)
[B]Sensus Capital Markets[/B] — 1 point (plus a “maybe”)
[B]Forex Broker Inc[/B] — 1 point
The spreads you are quoting are insanely high. I don’t really know where you’re getting those numbers from.
I looked at Sensus and also Profiforex spreads and they both seem to be higher than [B]Tallinex ECN-PRO[/B] accounts. Moreover, the commissions are as follows Sensus ($10), Profiforex ($7) and Tallinex ($6).
You have to make sure you choose [B]Tallinex ECN-PRO[/B] accounts.
Also, last week I traded a couple of major economic releases and incredibly had [B]ZERO[/B] slippage even on an exotic pair. I was amazed.
Also, I believe Sensus only has 1:200 leverage. I can already see that Profiforex seems to have higher spreads than [B]Tallinex ECN-PRO[/B] but I have yet to see if they have slippage or not.
More and more brokers are fleeing over regulation from western countries and are now operating from offshore ones. On the same time, more and more traders have realized regulation does not protect them as well as they think after the SNB black swan.
So for the first time I tried an offshore broker with Tickmill (ex Armada), and I found everything is ok. I opened a demo ECN account, the service is good and the spreads are really low (for EU usually around ,8 pips with the commission.)
For me offshore brokers are now definitely an option.
Yes, to verify, I made a new demo account with Tallinex, and chose the TAL-PRO-USD demo account. I’m checking again this morning and I see 23 point spread, once again moving down for split seconds and then jumping back up. The spreads have improved since a few months ago, but the commission is still very high. I tested the commission by placing a 0.1 lot trade on Profiforex and I received a 25 cent commission. I then went to Tallinex, placed the same trade on the same pair, and received a 60 cent commission.
The Spreads at Tallinex are not as bad as the ones from Forex Trading Inc, but I still think Profiforex and Sensus have a competitive advantage over Tallinex. If Tallinex could cut its commission by half, then I would have less of a gripe about the commissions + spread, but I doubt this will happen.
Profiforex does not charge 7 dollars per round turn, they take a 3 point commission, or 3 dollars per 1 lot trade, as confirmed by a customer service rep a few months ago. Also yes, Sensus has removed its 1:500 leverage since the whole CHF situation and the Greece situation. I spoke to them and they said they might be re-instituting the leverage, but not at the moment.
As far as spreads + commissions go, I have seen this from all the brokers I’ve tested, and I’ve tested most on the list on the front page.
Sensus Capital (Very low spread, higher commission) > Profiforex (Higher spread, very low commission) > > Tallinex (High spread, high commission compared to previous two) > > > > > “Other irrelevant over-priced brokers here”
I will continue to watch these 3 brokers and see if anything changes.
I was just chatting with online support and requested registration docs. The truth is that “Paxforex” is a brand name of Laino Group LTD and that’s probably why there is no information that “Paxforex” is registered there. Laino Group LTD is registered in St Vincent. The docs that they provide to me confirms this.
Hi CLint!
My vote is for Paxforex. )