I need help picking a good legit forex broker. I’ve been researching and all I read is bad stuff. I was thinking of going with FXCM but too many “scam” comments and stories. I’m with etrade for stocks and options but I got denied for my forex account because I’m under the age of 21. I’m guessing the big stock brokers that allow forex require the age of 21+. What forex broker do you use? Any problems withdrawing money? Thanks!
hi Rjrcortes,
Welcome to the forum and I am FXCM’s brand ambassador. If you have any questions about FXCM I would be happy to help.
You can likely find negative comments about any company when doing a google search, and the larger the company the more you will likely find. In the course of trading, there will always be disputes that arise especially in a situation where a trader has real money on the line which is why we take disputes very seriously. Our audit team is setup to investigate trade inquiries and make adjustments if there was a technical issue on our side. If the trader disagrees with the results of the audit, then the trader has the additional option to go to our regulators as a means of final dispute resolution.
We take extraordinary efforts to address traders concerns which you can see from my participation on the forums, but one thing you may find is that a scam warning on the internet may be more of an emotional reaction than legitimate. This is a good example just from last week where the charts clearly show a price being reached but the trader still thinks the order shouldn’t have been executed and labels us a scam http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/28762-i-believe-fxcm-scammed-me-2.html#post144701 .
In terms of “legit”, FXCM is a publicly traded company on the New York Stock Exchange (NYSE: FXCM), with over 184,000 active retail accounts as of October, regulated in the United States, United Kingdom, Japan, Hong Kong, and Australia, and you may not have realized but E*TRADE uses FXCM for their forex trade execution E*TRADE Financial Corporation - About Us
Let me know if you have any questions.
Jason
hi Rjrcortes, check out ForexNation. they are non-profit offer choice of spread or commision.
Well, you have only two choices, Oanda or Profiforex, two different brokers but have similar trading conditions. Just try any of them see how your trades would become so meaningful. If possible, you can check forexsanity for a good list of brokers.
Hiya, your post caught my eye… do you know of any good brokers in the UK or Euro area? I’ am also looking for a broker but swamped with information i want to try and narrow it down to region.
thanks
I saw an article saying CNY was to be tradeable as part of the reforms in China, it was allegedly predicted to be second only to USD by 2015. If this is true it would mean huge volatility in the FX market for a while, does anyone else feel the same?
I’ve also got another thread talking on this issue: http://bit.ly/1jpp4Y9
Hiya, your post caught my eye… do you know of any good brokers in the UK or Euro area? I’ am also looking for a broker but swamped with information i want to try and narrow it down to region.
thanks
I saw an article saying CNY was to be tradeable as part of the reforms in China, it was allegedly predicted to be second only to USD by 2015. If this is true it would mean huge volatility in the FX market for a while, does anyone else feel the same?
I’ve also got another thread talking on this issue: http://bit.ly/1jpp4Y9