Oanda VS Alpari US VS IBFX

Broker Discussion Forex Brokers
1

Hello fellow pipsters! I have been on this forum a while and have been schooled and now demo trading for a few months.
I started with fxclub and etorro and then settled on mt4 with alpari. I also have an ibfx and oanda demo.

I am now trying to finalize my system and part of that is my choice of broker.

I am choosing these three because the are all in the US and regulated.
I did a comparison of features (they are very similar in most aspects) and now I would like to get some user input from you guys. I am not looking for a “this broker did this or did that” response but a comparison of strengths and weaknesses.

Example, fees - Oanda states they charge you $15 for every withdrawal over one per month and don’t show credit cards (giving me additional protection as a consumer) as funding option versus the other two. Also, they don’t have MT4 direct and they do not offer additional services such as Autochartist. Oanda does have 24/7 trading and lower advertised spread eurusd. I also like the way positions are calculated, making it easy calculate risk.

My trading style is is e/u intraday and I also want to be in a good position for scalping here and there as I keep working on my system.

Thanks!

2

I advice you ALPARI or IBFX because they have Metatrader, and Metatrader is good for newbies

3

I decided on Alpari US. The approval was easy / instant just had to fax copy of ID. Only issue is I sent them paypal funds and they returned them cause my paypal has my business name on it so they thoght it was third party. I ended up mailing them a check. The appoval email stated that they set me up with a pro account and gave me a link to download their software. Based on the website the pro account requires 20K min. deposit. I opened with 1K and want a MT4 Micro so I will have to call them and fix this.

I will update any other concerns I have for anyone else looking for a broker.

4

Interested in trading exotics, looking at CAD/JPY. Currently I’m only familiar with IBFX.

I read some information about using Oanda for trades & MT4 for charting…
however I’m not familiar with Oanda.

ForexYard also trades CAD/JPY + commodities too.

Any input is appreciated.