Please help me narrow to which broker to go live here

Broker Discussion Forex Brokers
1

Hi everyone I’ve try demo for about 1 month now. Finish school of baby pips and slowly learn step by steps.

I’m looking for broker with low spread on these 3 pairs Euro/US/Jap. My goal is to day daytrading and none of my trade will last for more than 3 hours.
I alway set my hit or miss target and if time running out (3hrs time) I’ll stop right there also.
I also want my fund to be safe and go with big site.

So far big site from the list I’ve try:

#1/ Oanda I know they’re big and #1 but not catching my eyes and I’ll have problem If I’m not enjoy the look and force to look at them 4hrs/day ( most likely not for me)

#2/ FXCM I try them and like the look the graph and ect. ( But the spread move too often which I think it’ll not that good.)

#3/ CMSFX so far this is the best for me I like the graph I like the spread ( my pair US/Eu and US/Jap offer 2pips most of the time which is nice.
I almost so sure will go live with them then… for 2 weeks now I have problems in demo either freeze up for 5mins or can’t log in for another 5 mins and this morning I can’t make a trade.
Everytime I live chat with them they said it only happen in demo but live account is good.

#4/ I live in US so I’ll like the site that offers US players.

The rest on this list here I’m not start yet b/c I waste alot of my time on smaller site which I not mention above since they so small now. Please share your though on any site above if you’ve been with them.

#5/ My trade alot from .1 lot to .5 lot ( 10K lot to 50K lot)

The following firms have net capital above $20 million

PFG $27,395,000
CMS Forex $28,021,000 ( Done like eveything but lags and freeze up often)
Interbank FX $43,669,000 ( Not yet done but see 1 bad thread about them)
FX Solutions $44,618,000
GFT Forex $75,215,000
Gain Capital $107,167,000
FXCM $115,260,000 (done spread move too often)
Oanda $169,722,000 (done not like the look)

Thanks.

WT.

2

You’ve narrowed your list to stable, well financed brokers, very good!

From this list, and mind you this is just my personal view, FXCM have a somewhat bad reputation.

GFT has what is by many regarded as the best software in their Dealbook 360.

Any of these brokers will probably be a good choice, so only you can make the decision. Try their live support also to get a feel for what they are like to actually interact with.

Good luck

3

I have tried Interbank FX for about a year and half and I am only speak on my own experience, and I can tell you that…to me they are scammer :mad:. When they know that you are making good money they specifically target you and widen their spread. They have done this to me countless of time up to 35-50 pips of spread and I can’t get out of my position knowing that the market going to turn. And forget about setting your SL, they will monitor it and take you out. I lost one of my big account and I am not with them anymore.

I do like ODL and making good money with them until they decided to stop doing business here in the US and sold their company and our account to FXCM. I tried FXCM but I think they are new with MT4 and data feed is a bit slow for me. Perhaps they have too many clients and not enough server to handle it, because often I can’t connect to them or get disconnect during my trade. So I am on a for new broker.

I don’t like MIG :rolleyes: because they charged me money for deposit fund to my account and their customer is rude and not friendly. Perhaps, English is their second language and they were not using the right word choice when they were talking to me. Anyway, I rather take my business elsewhere that I can concentrate on my trading then to deal with pesky broker.

Hopes this helps and if anyone found a good broker; that is given good spread, not cheat during volitility, no charge for deposit or withdraw fund and process quickly with good customer service, and been around market long enough for traders then that is good enough for me :slight_smile:

Good luck and prosper trading :wink:

4

Thanks o990 for feedback I’ll take a closer look into GTF to see more for myself.
Queen Eli, Thanks for share your though in Interbank (will be a no no for sure to me here) also seemlike good broker is not that easy to find as I though now, I’ll do more research and read more… Please update me if you can find new good broker for youself there.

WT.

5

Very true o990l6mh… one thing to consider is how your are doing your money management so you can stay in the ‘game’ the longest starting out. With Oanda you can trade with very tiny lots/units of real money till you can get the emotions out of trading. And by doing so, stay in the ‘game’ longer and not have to refund your account as you may have to with the above others.

I personally don’t use them (I use IBFX and love them) but would if I was starting out new.

6

Before opening a real account with any broker you must first search about that broker and its services because in future they might cause you problems and you might have to face losses. I had done the same before opening account with AVAFX.

7

Thanks everyone for Helping I decide to go with Oanda for now and just complete all the form with them. My fund will be ready by next week so here I come to real forx world.
Wish me luck.

WT.

8

Yes, you have gone for the more solidly established brokers, within that list you should find whats youre looking for. All broker offer differnt things from each others, some people will make thier choice by that alone.

Please let me add another broker to your list worth to concider, my broker ACM. They maybe not have their head office in US, but they do have a representation office in NY, they also have offices in Dubai and Montevideo. Why you should concider? Because they have been here since 2002, so many other brokers have come and gone since, some are on their way out as we talk. This is proof that they to do what is needed to stay in this business. It is also easy to fund account with credit card, and I have never had to chase for my money. The customer support always been great with me, we laugh at mistakes we say because English is the common 2nd language we communicate in (Magyar Vagyok) but they better than me! I think you need to know, if you ever want to change or open other account, ACM just won a Best Broker and Best Platform award, you will find only the reputable brokers can claim awards.