I have been looking for a good forex/cfd broker for the last few months but I really dont trust the review sites so I was hoping to get some feed back from real traders on who to go with.
I have been testing a few demo accounts and I like the following brokers.
FxPro
HY Markets
IronFX
Baisicly I like them because they have MT4 and I can trade FX, CDFs on US shares and Commodities but I’m not sure which one to go with.
I have read both good and bad reviews on all 3 but I dont trust reviews for 2 reasons. The first is I work in internet marketing and know how easy it would be to make fake reviews with a VPN or private proxy. The other reason I dont trust reviews is the bad review seem to come from traders who just dont know how to trade and blame the broker.
So if anyone has had real trading accounts with any of these 3 broker please let me know what you think of them. Also I dont really care about spreads being a pip or 2 more or less, I want to swing trade so it should not matter. Thanks
[QUOTE=“RiskOn;596475”]I have been looking for a good forex/cfd broker for the last few months but I really dont trust the review sites so I was hoping to get some feed back from real traders on who to go with. I have been testing a few demo accounts and I like the following brokers. FxPro HY Markets IronFX Baisicly I like them because they have MT4 and I can trade FX, CDFs on US shares and Commodities but I’m not sure which one to go with. I have read both good and bad reviews on all 3 but I dont trust reviews for 2 reasons. The first is I work in internet marketing and know how easy it would be to make fake reviews with a VPN or private proxy. The other reason I dont trust reviews is the bad review seem to come from traders who just dont know how to trade and blame the broker. So if anyone has had real trading accounts with any of these 3 broker please let me know what you think of them. Also I dont really care about spreads being a pip or 2 more or less, I want to swing trade so it should not matter. Thanks[/QUOTE]
AMP futures…
Keep in mind, substantial capital is required to maintain margin requirements to hold positions overnight.
Interactive brokers? you can trade everything under the sun on any exchange. 10,000K min buy in. and charting is horrible. non existent. but execution outstanding and cheap.
Your experience? You should not mention Alpari as a good broker because they are one of the oldest brokers around. This broker also have one of the slowest platforms and slippage prone execution. If you don’t know this, then I would say you have no experience.
Orders are never guaranteed because if volatility is high, prices can be missed and we may not be able to obtain a quote for you at the price you requested. Orders are also sometimes filled away from the desired price due to gaps in the market. This occurs because currency prices can sometimes be very volatile or liquidity can be thin.
To add some background, slippage is not an invention of the retail FX market. It exists in the Inter-Bank FX market and has done even as far back as when the principal method of trading was by shouting.
Part of the problem here lies around the execution conventions of certain order types. The convention around Stop Loss orders is that they are open-ended. There is a risk of slippage that is determined by the prices available in the market, but the understanding has always been that these are an “at best” order – because as painful as some slippage might be, it might be a lot more painful if the order just isn’t filled at all.
With Stop orders you have to remember that, by definition, you will always be trading in the direction of least liquidity – and some slippage should be factored in. FX is remarkably uncomplicated in this regard. It always follows the path of least resistance. Occasionally this slippage might be modest, but the realistic fact is that when you trade at the point of greatest uncertainty there is no way to pre-define your risk.
The common complaint around slippage really boils down to individuals unhappy that no-one wanted to sell cheaply to them in a rising market or buy at a high price from them in a falling one.
This is not an uncommon criticism, but you need to consider the other side of the equation, which is quite simply -what’s in it for them ?
By what right does any participant in the market feel he should be able to deny his counter-party the right to trade at a price that doesn’t suit him ?
Majors are between 1.8 - 3.0
Some exotics are insane like 15-30
Majority are under 4
The highest i saw that i would want to have a go at if spread was ok is GPB/NZD was at 7.4 but in saying that GBP/USD is only at 1.3
Varies a lot mate to be fair but I’ve had no problems with them and i rang them about 12 months ago a few times im regards to risks to forex trading etc, very honest with me.
They are also backed by one of Australia’s (big 4 banks), Westpac. Westpac is also New Zealand’s 2nd largest bank.
Probably smaller then most yanky brokers but I’m very happy with them.
How come I don’t experience slippage as often with Profiforex. I have always hated slippages and it was one of the reasons I left my former broker. It was just too much. At least now I am good. I am a scalper and slippage is very bad business for me.
The broker I’m using now is superb in all it ways and it accepts all bank card for deposit irrespective of the country you are from, including US citizens and non US citizens. I really place them on high regard for their good work, I just hope they will keep up the good work.
Good to know that…thx. Yeah probably someone can try vantage FX also. I like OANDA just because of one thing we can using $5 as a start and payment by Paypal. That’s how i got into forex in the first place without this chances i won’t feel excited…demo account is just didn’t excite me at all
p/s i do not affiliated or anything with oanda i just happen to trade there and the experience is good so far. I want to try alpari in future if the payout mode accept paypal
