Please help me find out

Please I am new here and I really want to open a real account as soon as possible. I have read some posts here that talks about FXCM, Hiroseuk, profiforex, Oanda and others. I don’t like FXCM, so I am contemplating Profiforex and Oanda. Please does anyone use Hiroseuk or tell me anything about this broker?

I think Hiroseuk, profiforex are off-shore regulated.
How do you claim your rights (if breached) by an off-shore regulator?
Don’t know…

Why you dont like FXCM is a question! You can go for Oanda as you have mentioned. Good Luck Patra.

Nothing wrong with profiforex but if you are to select among profiforex or Oanda, definitely go with Oanda. Oanda is a reliable broker with good reputation among retail forex community. As for Profiforex, the primary drawback is lack of regulation that may cause problems. HiroseUk is fine too. It is among the largest Japanese brokers well-known in Japanese community.

Hi Patra,

I have the same question as Dollareuro :slight_smile:

If you have any questions or concerns about FXCM, please let me know. I’d be happy to address them for you.

Thanks,
Jason

Lack of regulation? Seriously, I don’t see how regulation is helping is trade these days. @patra, if you want better platforms and good leverage to use, I think you can go with Oanda or Profiforex, they are both very okay to me. I don’t always advice people to feel insecure with offshore brokers. As long as the broker has a good track record, I think it’s a GO

You’re right that honesty should be a priority and no one should believe in the myth that off-shore brokers are not secure. However, regulation ensures that proper rules are in place and the broker doesn’t manipulate. From the perspective of retail traders, broker manipulation is often hard to prove.

Still, it is vital for various reasons. For instance, look what happened to InstaForex clients after Insta terminated its contract with Liberty Reserve. It is precisely for these reasons that Russian industry is striving for a unified regulatory organisation. Again, nothing against any particular broker :wink:

Both are nice brokers to trade with. just go through their trading conditions and services to confirm the one you wish to be with for now. I advice you to make the right choice and choose wisely.

Thank you guys for you honest replies. I decided to open two accounts, one at Oanda and a micro account at Profiforex. I am going to split my capital in two and see which broker is more productive for my strategies. I have not gotten so much experience but I love this plan. Both brokers have almost similar trading conditions including low spreads, but I really want to know how fast is their execution and if they honor SL and TP without delays. I’ll keep you posted.

Oanda, well, they are too honest for my taste.

How can a broker be too honest for your liking. Is it because we live in a world where trust no longer exist? Therefore, when someone if too honest, he becomes a suspect. LOLLLz

If breached by a regulated broker and lost my money, will I be able to get my money back? How do I contact the regulatory bodies.

O.T.

Im not the type of person who loves to recommend. but this time i will be recommending a broker that suits and never fail my expectation.

I received a 35% bonus in opening account with them, low spread and fast execution.

Are you also with them? I’m just having trouble contacting their customer support.

What you think about FXCM UK