The Cyprus/Seychelles bucket shop marketers are all over this thread hahaha
Do I have to worry about FreshForex, it is regulated by CRFIN. but its not from Seychelles. I haven’t read of any complains by traders about them, should I worry??
[B]Licenses and Regulations:[/B]
Brokerage company "Riston Capital Limited"
Legal and postal address
PO Box 1825,Cedar Hill Crest, Villa, [B][I]ST VINCENT AND THE GREDADINES![/I][/B]
BAHAHAHA, are you serious? You want to trade with them?
ASIC and FCA are the only 2 worth the pieces of paper the ‘regulations’ are written on. Being in Canada. I’m with Australian Vantage FX but there are plenty more out there if you spend 2 minutes looking.
Out of the Australian Regulated brokers:
[B]Vantage FX - $6.00/RT[/B]
Global Prime - $7.00/RT.
IC Markets - $7.00/RT.
Pepperstone - $7.50/RT
Save yourself some money on trading costs guys. Heck, I have an IB link that will give you $4.60/RT! Let me know if you want it.
Frankly speaking, I am not entirely keen with this commission thing, I believe it’s far more beneficial that we trade with paying spread, as commissions are always higher side. But still, if you really want suggestions then try out Octafx, as they have just the thing you want, but I will repeat that it’s sensible if we go with commission free account because that’s far more comfortable thing and makes it all working brightly for me in so many ways.
Once you start trading higher volume, paying commissions and trading with the tightest spreads becomes MUCH cheaper. ECN accounts are best for bigger, professional traders.
OctaFX are a scamming, bucketshop broker, regulated in St Vincent and the Grenadines. I can’t believe you honestly just recommended them. N00bs, have some common sense.
Only trade with ASIC regulated or FCA regulated brokers such as the ones I listed int he post above yours.
Yep Octa are complete scammers. Vantage have cheapest commissions in Aus. Stick with Asic brokers.
Yeah, that’s fair point; if you trade with massive amount then maybe commission part becomes better. However, I was talking about normal traders like myself. See, it’s where I feel sad. I mean, I have ABSOLUTELY no problem when you call OctaFX this or that, but that’s till you are putting forward your personal opinion, but here what you are doing is applying that IF or MAYBE type scenarios. It’s very unfair to call them scam just because they are from St Vincent or whatever it is. Honestly, I didn’t had much option when you talk about suggestions, if I trade with A, I suggest A, if I trade with B, I suggest B, I don’t see other options that I can go ahead with suggesting? Now, it’s extremely important that you realize, I SUGGESTED, I NEVER recommended, I hope you are aware of the difference between the two, as par rest of the wording you used, it’s fairly disappointing. When I respect your opinion I definitely wish for same favor.
JayTeeFX, I will repeat the same thing as above, if you have personal experience in getting scammed or something on that lines then do share it with us but if not then it’s unfair to call someone wrong. So, I once again repeat myself, I SUGGESTED, I never RECOMMENDED!
Hallo,
You might want to look into Tradersway forex broker. They are ECN and as far as I know they are regulated.
Ok guys I will tel you in this way: If you are expected to make something like 20-50 lots/month you are NOT interesting to any SERIOUS, EXCELLENT brokers. They can’t avail from your trading activity. So you are basically have no alternatives to try brokers that advertise their services here or there. Just take it as a fact. You WILL trade with a market maker and there is no other option for now.
Regarding my personal recommendation: Hotforex, Tickmill, FXCM.That’s the broker I tested and know that their pros overweight their cons.
I would avoid Tradersway at all cost. They are an UNREGULATED broker. Honestly, if you are a legitimately new trader, why would you come here and make your first post stating that they are regulated when they are clearly not??
This quote from their website made me laugh:
No regulation can protect you from dealing manipulation, misuse of client money, or company bankruptcy. There is only one adequate way to minimize your risks:
In other words, they are saying that they are unregulated and trying to put a positive spin on it.
AVOID TRADERSWAY AT ALL COSTS!
This is completely false information also… God, what is going on in this forum??
The biggest advantage of trading with an ECN forex broker is that once you begin trading size (20-50 lots per month for example as you have said), then they will pass on your risk via STP and you will be allowed to withdraw as much profit as you can make because it wont be coming from the broker’s bottom line.
On the other hand, if you are trading with a market maker then you are trading directly against the broker. If you withdraw, then they are paying that money out of their own pocket.
Avoid the brokers ‘profitbaby’ has listed and go for an ECN broker such as the ASIC regulated Vantage FX that I use.
Do they write about the part of switching you to the STP after trading N lots in their ToS ? As I understand they have to reveal this important part of their services. The only provision related to the execution I could find is "The company may act as an execution venue on some OTC instruments"and smth. like that.
Could you please cite any documents or broker ToS where your words are described?
Thanks.
It is always like that to start with, but when we actually join such companies, it’s all their hidden factors that creates problem. I joined Nova FX with their so-called low commission ECN setting, but ended up losing massively! So, please no commission policy broker for me!
from my understanding, brokers are charged per million by liquidity poroviders, the better the liquidity the better the filling and the more expensive, and then bridge costs to aggregate the feeds and execute to liquidity. Based on that, I think $6, $7 or even $8 is reasonable cost for NDD filling… Yadix, IC, Vantage all seem legit NDDs to me, I’m currently at Yadix, but also traded at Vantage in the past.
Also, you need to look at the spread, most DDs will offer cheap commissions $3 or whatever, but the spread instead of being core (0.0, 0.1 or 0.2 pips) it’s 0.6,0.7 or 0.8 on average, another sign that spread is marked up
I agree, a tittle bit extra for true dma execution and core conditions is worth it, I pay $7 per lot at Yadix, have free VPS and am part of cash back program too so overall very satisfied.
Can anyone suggest me a Broker offering FIX API with Low Funds deposit and really low commissions???
What about Pepperstone ECN Razor account…?
I am currently trading with FinPro Trading. They have competitive spreads and charge very low commissions. You can open a micro account with $5 deposit check the trading platform and conditions yourself. that is how I choose my right broker through SELF TESTING.
I hope I helped.
Low deposit and low commissions brokers are usually not found offering low deposit FIX API…they do offer API but usually with higher deposits to the account.