Ok guys as many of you knows I’d been trading in a Alpari US Demo account … Today I did open the live account but before send any money I did a research which end with lots of negative reviews on live Alpari US (personally on demo I have no issues )
Clint recommended me FXCM … Im trading with the demo account MT4… I like it but spread looks a little high …
Could you guys give a light on which will be your first and second choice … Thank you
If you are open to some other brokers, there’s a good discussion about Oanda in that thread from the ex-penny stock trader.
Unfortunately, I can’t help you for other brokers.
If you have to go though the charge of different broker and contrast to them and choose the good broker who is satisfied all your needed buying and selling of penny stocks.
Isn’t Alpari supposed to be one of the better brokers?
Their UK operations are FSA registered - I’m sure their US business also has relevant regulatory oversight?
As for Oanda - I’ve heard more bad things about them than I’ve heard the phrase “Euro to Parity!”
I haven’t had any problems… yet.
Besides Oanda do you use other broker?
Those review sites are mostly useless, keep researching “which broker…?” threads here and on forexfactory to get the real info on brokers that isn’t biased or paid for by the brokers. I use MIG (live account) and I am pretty happy with them but I wouldn’t say that they are the best, I will be trying out Dukascopy for comparison, very happy with their demo so far. I have a couple of friends that love FXDD (one switched from MIG), I will only put my money in a bank though so I am limited but I prefer the security.
Oanda and IBFX have been recommended on here by some people who seem to be pretty smart and have a good reputation here.
but you have to also consider the platform, execution, and if your broker is trading against you. Did any of you hear about the compliant from the NFA about Gain Capital aka Forex.com about their virtual private plug in on the MT4??
I would suggest to stay away from Mt4’s, I dont care if its a DD or ECN…Stay away.
Ps. Watch our for brokers in Cyprus. You make profits, some will close your account and only return your inital deposit…And the others wont reply to emails and keep all your funds.
I hate the lingering rule of the CFTC, but I must say i have never had any issues with getting my funds back from any US broker.
Atc-brokers, deltastock, and ikon-royal all get high ratings on forexpeacearmy.com, personally I use Oanda and everything works out ok even though their platform has a spotty connection.
Simply click on [B]TOOLS[/B] on babypips home screen then click on [B]Forex Brokers Guide[/B] on the left hand side then once you’ve read that, on the bottom click on [U][B]Broker Comparison Guide[/B][/U]
That should be all you need to make an educated decision.
The lessons are good but the Broker Comparison Guide is extremely incomplete. I love Babypips but it seems like the brokers that pay the bills are the only ones who get included in that kind of stuff. It makes sense in a way since they do pay the bills and should get what they pay for but it would be nice to have complete section on community reviewed brokers. At least here we can see people that we know from the forums, that have earned a certain level of trust, making statements about various brokers from real life experience. I have yet to see a review site that I trust.
Edit: I do realize that there is the “Rate My Broker” section but I would like to see each broker with a review section “by the people for the people”. While it is a valid question, I am tired of seeing “what is the best broker” topics all the time. A clearly defined alphabetical listing for each broker would be nice, I would have no problem starting such a group of threads if I didn’t think it would be buried beneath everything else in the first week.
I got this information from another thread … If anyone had experience trading with any of this brokers please let me know :
ATC Brokers
MB Trading
Their both are NDD - STP - ECN
Most feedback in forums are positives … PLease advise
I researched at MB Trading too and they have a lot of fees. Plus if I look at the spread plus commission, it’s not the real deal.
Alpari (UK in my case) is a market maker. They are for sure not the worst of the worst, but they play tricks in the 10 pip range. I have an indicator here which shows me the spread. In the dead time it went up from 1.6 to 10 pips. :eek: Plus a chart comparison with other brokers showed one time a +/- 5 pip difference. Sure stop hunting.
If you don’t scalp, that’s not a big issue. Everything else is okay, beside they sometimes have connection issues.
Maybe that’s not an issue with their ecn account, but that needs huge money. If I had that money, I wouldn’t have to go for it, lol.
Dukascopy is a bank now, has almost no fees, gave me a fair exchange rate for my deposit and I do not have them seen playing tricks like stop hunting. It’s an ecn account with 1000 minimum deposit.
The only issues there is they have MT4 only in beta and the open account procedure is rather complicated.
It’s possible with a bridge though to trade with MT4 there.
The very good thing is that they are a bank now and the deposit has insurance. Switzerland has also a trustful regulation authority. I guess they offer also deposit in separated bank accounts with interest.
Well, if there would not be DC, I would probably go to MB Trading. Even Alpari is not that bad at all. You want the big money, so you have to deal with some issues everywhere. That’s with every broker I guess.
Oh, forgot one big advantage with DC: They offer something like micro lots where one usd pip is 10 cents and that with ecn. I do not play with such an amount, but it is a good option to check a robot or strat with a live account without losing too much money.
Just my 2 cents.
ATC brokers look the best to me , only issue the minimum deposit is $5000 . I guess I will give a try to Alpary UK for now and once I make money switch to ATC . Im gonna open a demo with MB just to check the spread … I don’t scalp but in any way high spread affect no matter how you trade … Thank you … Any other info will be appreciate
Ur welcome. I have no info about atc. Had it on my watchlist too, I guess, but can’t remember the reasons not to go with them.
In the end it’s really a tough deal, to have a good broker. Now I have some, because there is no broker who has it all in one place, lol. Good luck!
True Talk.
Alpari UK won’t open an account to US resident unless you have 100k to deposit …
So far I stick with dukascopy … It seems to be a good broker
I have an Alpari Account but don’t know how to use it?
Hey romad7,
I’ll second your motion and support you!!!
Yes: we do have Forex Peace Army but, from some recent posts here, it would seem that people are skeptical about some of the content (or, to be more accurate, some people are skeptical because they’re not ENTIRELY sure as to what content is being LEFT OUT)!!!
As I said: I second your motion!!! A section that is left UNEDITED and without intervention of any kind. Maybe it could be made a ‘sticky’ on some or the other forum OR a whole new forum could be created for this purpose.
The only problem that I can forsee is this: WHAT IF a broker is paying the site for advertising and is not happy with or does not agree with what is being posted??? How much ‘pressure’ could be ‘brought to bear’ on the administrators??? THERE’S a potential problem. That said: if a broker is ‘on the level’ and is ALSO (this is important) afforded the ‘right of reply’ then there theoretically should BE no problem. The alternative: a new site is started altogether and the only ‘rule’ is that there is NO advertising WHATSOEVER allowed i.e. a totally independant and privately funded site. I’d be quite prepared to set this up BUT LET ME SAY THIS: I’d FAR RATHER keep it here!!! The administrators of this site have loads of experience and have done a very good job thus far of ‘weeding out’ spammers, scammers, and other types of ‘vermin’. I don’t have that expertise.
Regards,
Dale.
Hi all,
Atc are easy to open an account with. They will open accounts for USA customers within hours of receiving the correct info & slightly longer for overseas clients. Their documentation is way easier than dukascopy.
I have members who took 12 weeks to open an account with dukas! They want original documents (I never heard of any other company asking for this) but they are a Swiss registered company and Switzerland is renowned for its strict money laws.
with my pleasure