Hello, I am a newbie for Forex trading. Just started learning about forex brokers, and still haven`t decide which broker to choose… Is is a ggod idea to try 2 or 3 brokers at the same time in order to analyse which is better? Or should I probably concentrate on one broker?
You guys might find this helpful
http://forums.babypips.com/forex-brokers/85339-check-if-your-broker-authorised-here.html#post807817
Isomorph, how can dukascopy be an ecn if they take the other side of your trade. Dont they own SWFX, this way all the trades are still going into their pockets? I completely agree with what you are saying just I am trying to trade having a DMA with about 5000 usd. Seems to be impossible as everyone in the industry wants your money… Please do reccomend what one should do to get a DMA or anything close to that.
For me the best broker is Fm-fx.com. I have been with them for the past 10 mos. and i haven’t experienced any problem with them at all. I appreciate the good quality of customer service.
(x) FXCM was regulated alright, regulated right out of the US for not disclosing it was in control of its LP and has now passed its client base to FOREX.com which openly admits trading against it’s own clients.
It’s unbelievable, the brokers are now so smug they are no longer trying to hide the fact that they are on the other side of your trades. This appears to be the business model now, mislead traders from the get go and advertise true ECN accounts when in fact you are trading against the very broker your account is with.
It’s the gambling industry all over again “you know they have a near unbeatable edge but people will still throw money at it in the belief that they can out befuddle the befuddlers”
Think about it, who in their right mind would make an investment with a ~5% possibility of return. It’s just one big digitised Casino where losers outway the winners by ~95%.
Yeah thats actually the best thing to do. Don’t deposit 10 000$ straight away in one broker. Deposit 100$ in a few brokers and check how are the trading conditions.
Here is a good chart to get you started = https://photoshar.in/Forex-Broker-Special-Comparison
The main thing in any broker is reliability. Choose the one that doesn’t have any bad reviews.
Traded with a couple Brokers in the past, FXPro, XM and IG. Currently trading with Swiss Markets, so far so good. Reasonable spreads, the service is not people constantly bugging you. Check them out
Stay away from IC Markets.
I read plenty of reviews and still decided to go with them. Big mistake.
I put straddle trade on GBP/NZD for interest rate announcement.
I had
- Buy stop at 1.7885 and
- Sell stop at 1.7840
with both stops at 1.7860.
at the announcement price plunged although my long order was triggered and closed at 1.7860 even though price went no where near the entry order price.
The short order was also triggered as you would expect but with 14 pips slippage at 1.782620
and CLOSED OUT at 1.7873 even though price was still falling.
The times on the order tickets were about 1 sec apart so they basically just closed my orders and took my money.
It is impossible that the short order could be stopped out 50 pips above the entry price in a falling market.
Now maybe this wasn’t the wisest trade decision but they just outright robbed me.
Whatever excuse they have, it’s not good enough.
I believe the term IC Bucket Shop will become well known in the Forex world.
I know that most all brokers are there to take your money but this is straight up robbery.
Stay away from IC Markets. They are super shady and their so called super tight spreadfs aren’t tight at all because the trade can go 2 to 5 pips in your favour and still be negative.
They run a slippery algorithm on their MT5 platform anyway.
So. I have an account with OANDA and am now going to trade with them and close my account with IC Bucket Shop.
I suggest that anyone who has an account with them do the same before they rob you blind.
Hi folks, haven’t posted on this forum in quite a while.
Any thoughts on ETX Capital ? Been reading through the thread, and FXCM is just bad news.
Considering other options.
I’ve also come across Boston Technologies, which enables you to start your own brokerage, and trade as well using MT4. Any thoughts on that company ?
Thanks.
Go to forex peace army, and see the posts of etx its bad broker
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Is FXCM still operating in USA? Which other branches they have?
Is XM Global a good broker?
Hi MrGone666,
FXCM has offices in London, Berlin, Sydney, Paris, Milan, and Hong Kong. And affiliate offices located in Toronto (FXCM Canada powered by Friedberg Direct), Tel Aviv, Athens, and Johannesburg.
Jason
Oh. Thanks. I will go to the London branch then.
Hi Guys
I am new to trading and i have just completed the BabyPips course (Which Is Excellent by the way).So now i’m looking for a broker to start my demo account on then eventually use them for my real account.I currently reside in China so i just wanted to know if you have any suggestions on Brokers i could use?
I never dealt with an affiliate system. Therefore, I still doubt if it’s worth it. Light offers good conditions, but will I get a real profit?