Hi,
I made an EA that works well during forward testing on EasyForex. Am I to expect it to work in the same manner with a real account? From what I understand, the price does not change as a result of your demo orders, but would that cause significant slippage?
Do [B]NOT[/B] use EasyForex. Everything was fine for me until I started live trading. My system had worked well with demo trading, but as soon as I went live everything went downhill.
It seemed like I always had to open much larger positions than I was comfortable with, so my losing trades were disastrous. That wasn’t the worst part though, they seemed to actively manage my stop losses. There were several times when I was stopped out when according to my MT4 charts I was nowhere near my SL (I’m talking 20-30 pips away here). Similarly, according to my MT4 charts I should have hit my TPs overnight (again, by a good 20-30 pips) but, lo and behold, according to EasyForex I didn’t quite make it. I thought I was just being unlucky at first, but a definite pattern emerged over time and I lost a lot of my initial account. Again, this pattern only emerged after I started live trading. During my time with the demo, it was fine. As soon as I had real money on the line, the execution of my trades started looking very fishy.
The other red flag for EasyForex is that they take your money easily enough, but they make withdrawals very difficult.
I think EasyForex deliberately compromise new traders so that they get frustrated and start overtrading to compensate - this means more spread pips for EasyForex. I fell for it when I was a newbie - I hope my experience will save you some cash. I’m with FXCM now and I am a lot happier (and profitable!) Please, please don’t give EasyForex your money - your experience will definitely change when you go from demo to live with them.