YouTube - Oanda spread on Non farm payroll 2/2/2007
Have a look at the GBPUSD earlier this month. 200 PIPS spread on NFP. Not that I traded the NFP, but I certainly do not want my money with this company. What is next??
But that is my opinion. Good luck to the Oandans here. May the PIPS be with you. 
I have never used Forex.com or Gaincapital.com, but i have recently found out on the NFA website when researching brokers that Gain Capitol Group is facing 3 counts of penalties from the NFA.
http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=970
To be fair for Oanda, they have refunded the customers who were effected by that NFP drama. Couple of my friends whome their account got wiped out , confirmed this. Oanda said it was a technical problem and it was suppose to be 20 pips NOT 200 pips.
Hello everyone,
does anyone know about Northfinance.com? I want to choose them as my broker since i like there platform, BUT do not know of their credibility or any other reason why i should not choose them? Thanks for all your answers in advance.
The company I hear the most positive feedback about is Oandaā¦
I asked about this in another thread, hadnāt seen this one!!
I have been looking at ACM, and like their interface.
If anyone has a pip horror story about them, please post !!
Stewart
Oanda is the best.
I have accounts with Oanda and Forex.com but have a strict policy against FXCM. Their policies are suspect, their representatives are confused and uninformed. Trying to open an account with then took moths before I gave up I still get phone calls asking me to āgo liveā. Why would I trust them with my money?
Hi Forexcalibur,
Thanks for the feedback. I would be happy to help resolve any issues you have had with FXCM. If you are interested, you can email me at [email protected] and I will provide you with solutions as quickly as possible.
For most clients, the account opening process is very easy. Most traders can typically start trading in 1-2 days after completing the online application. We outline the 3 steps to open an application at Open a Forex Trading Account | FXCM Currency Trading Account.
I hope that helps.
I have had no positive experiences with FXCM. The reps are not polite and they all seem burned-out and irritated with having to answer questions. I called several times and was told that I never applied (even after I submitted ID twice!) So then I was instructed to apply again and was told that I had exceeded the number of times I can apply and so I can not have an account. This is only ONE issue I have had.
In addition, when I became leery of FXCM I decided to try a micro account and was harassed by an arrogant rep who tried to goad me into opening a regular account by trying to making me feel silly for wanting a micro. He said something to the extent of ā[I]serious[/I] traders donāt use micro accountsā. I never got passed him to actually get the micro opened.
It seems to me FXCM only offers the micro to compete with brokers who do offer it but have no intention of making it easy to open one. In addition, FXCM charges a surcharge in addition to the spread on micro accounts. Who does that?
IMO, once I decided to play it safe with a micro account FXCM decided I was not worth dealing with because I was not fronting big money.
Businesses get ONE chance to make a good first impression on customers. I gave FXCM several over two months. I am no longer interested in their services. To this day I still get emails and phone calls wondering why Iām not live with them, even though I have been very clear that Iām just not interested. IMO, very poor communication and info-sharing in that company. It makes me wonder how deep that issue runs.
My main interest in FXCM was their trading platform which seems great on PC and Android. Unfortunately, I wonāt be putting it to the test.
Another reviewer mentioned the Forex.com platform being a bit clumsy. I agree. I am not trading with Forex.com until I can do so using a third party platform.
Again, Oandaās platform leaves allot to be desired but it does execute instantly and has never had a hiccup. Its just hard to really get a visual on what price action is doing. Their Android app is also very reliable but has no bells and whistles.
So, Iām starting to wonder if it would be worthwhile to place my trades on Oanda while using two or three free platforms for reference.
If my offer to help came across as anything other than sincere, I apologize. While you may be new to the BabyPips forum (welcome btw), FXCM has been present on the forums since 2009 helping traders with questions/problems, and weāve had our own dedicated Broker Aid section since 2010, Broker Aid Station. Far from lurking, Iām here to help anyone with questions about FXCM and/or fix problems, and you can find me on nearly every forum. If thereās a problem, weāll own up to it and do our best to help. I know that you only get one first impression, and Iām truly sorry if we blew it. I donāt know what experience you had with FXCM customer support over the past couple of months, but from your reaction I wish I knew so we could work to ensure it did not happen again.
All the best with your trading,
Jason
Donāt bother with Oanda, they are āplaying cheating gamesā just like the other bucketshops.
FXCM. Iāve used their micro account before, so I would vouch for them
This is the first time I heard anything bad about Oanda and have never heard it referred to as a Bucket Shop. Would you mind expanding on your experience? I trade with Oanda and so far, so good, but I have not really invested huge sums with them. Please elaborate!
There was the claim of a 200 pip spread I saw somewhere but I chalked it up to a system error. Maybe there is some truth?
Thanks
Hi guys. Am new to Forex. Been using the etoro webtrader and mobile app.
Anybody have any experience with etoro?
LOL. I started that exact way on Android. When I started clicking buy USD/JPY on etoro and making hundreds of demo-dollars per day with never a loss I was hooked. But I had no idea why I was winning. It was chance.
I quickly graduated to a more sophisticated platform. Etoro does not have any technical analysis tools either in their apps or online platform. So, although I canāt say I have traded live with etoro, I cant imagine trading with them now. Its like trading blind. Once I knew about Forex I started scratching my head about how anyone can trade with etoro. Maybe if you are a strictly fundamental long-term trader it is OK, but most traders are not. So I have to assume that a successful etoro trader uses other tools to make their decisions and place their trades on etoro.
But the majority of etoro folks are āsocial tradersā and I would guess the majority are not very successful. IMO, Etoro is fun, but not for devoted traders who need to earn a living. This is just my opinion, having tried it.
Now I trade mobile and PC using Trade Interceptor. It is the most featured mobile app you can get. Forex.com had a nice platform for a while buy they ruined it with an update. So I stuck with Trade Interceptor.
DO take the Babypips School course. DONāT pay anyone for training or mentoring. Also, check out the many webinars at forexpros.com
Thanks for your sincerity Jason.
If I thought your help would matter I would take up the opportunity. But all your service reps do is justify their errors and ignorance. They have not taken responsibility for the broken website application process and general lack of knowledge and communication.
Still, Thanks for your concern.
Trading āagainst youā means the broker is taking the other side of your trade. This is a separate issue form the nature of a trading desk. Check out the Pip school for explanation of trading desks. I know its not very comprehensive but it will give you enough to do further research. Different Types of Brokers | Brokers 101 | Learn Forex Trading
Best wishes.
Thanku for ur adviseā¦ I am making my way threw the school of pipsology. The reason I opened practice accounts is to practice as am learning. But I find ur right. The etoro web platform had no trade tools really.
I will defo check out the website.
Thanks