Which MT4 broker are you currently with?

[FXSwag]

I am going to copy&paste text I wrote somewhere else. I hope that is fine:

I have used Alpari UK for about 3 months now. The moment I breached the 5k USD profit treshold, funny things started to happen - 30+ pip slippages, terminal freezes, etc. I lost about 1k because of this. Initially I blamed myself for all this, I mean, it’s a risky game and we all know what we are up against, but then I did a small experiment: I have two alpari accounts (both live, one USD one EUR). I placed the same exact stop orders and stop losses on both of them. the more profitable account slipped past the S/L by 16.7 pips (resulting in pretty big loss) while the less profitable was closed at the correct S/L. I am still to hear from Alpari UK about this. I am now looking for a new broker…

Other funny things are: spreads that increase 10 fold, requotes like there is no tomorrow, and slow execution (imagine a babe in bikinis jogging in slow motion - that slow).

I am searching for a new broker now, but the more I read, the more it looks like they are all crooked to some extent. I guess it is the nature of the beast.

[bravehoststamps]

I am going to copy&paste text I wrote somewhere else. I hope that is fine:

I have used Alpari UK for about 3 months now. The moment I breached the 5k USD profit treshold, funny things started to happen - 30+ pip slippages, terminal freezes, etc. I lost about 1k because of this. Initially I blamed myself for all this, I mean, it’s a risky game and we all know what we are up against, but then I did a small experiment: I have two alpari accounts (both live, one USD one EUR). I placed the same exact stop orders and stop losses on both of them. the more profitable account slipped past the S/L by 16.7 pips (resulting in pretty big loss) while the less profitable was closed at the correct S/L. I am still to hear from Alpari UK about this. I am now looking for a new broker…

Other funny things are: spreads that increase 10 fold, requotes like there is no tomorrow, and slow execution (imagine a babe in bikinis jogging in slow motion - that slow).

I am searching for a new broker now, but the more I read, the more it looks like they are all crooked to some extent. I guess it is the nature of the beast.

Take screenshots of all this and submit your review at Alpari | Alpari.co.uk reviews and ratings by Forex Peace Army . Additionally, threaten Alpari UK with an FSA (the UK Financial Services Authority) complaint.

[FXSwag]

Thanks for the suggestions bravehoststamps. I did file a complaint with them, but as always, the initial responses are - unusual market conditions, bad liquidity, alien attacks… Just B/S.

Currently what would help me is if I could find a decent broker that does not make money when I lose money. I want a service provider, not an oponent. But as I said, it seems that they all have the same bag of tricks. Do you ave any thoughts on this?

[bravehoststamps]

Thanks for the suggestions bravehoststamps. I did file a complaint with them, but as always, the initial responses are - unusual market conditions, bad liquidity, alien attacks… Just B/S.

Currently what would help me is if I could find a decent broker that does not make money when I lose money. I want a service provider, not an oponent. But as I said, it seems that they all have the same bag of tricks. Do you ave any thoughts on this?

It makes no sense to file a complaint about Alpari with Alpari. Complaints about Alpari should be filed with ForexPeaceArmy and the UK FSA.

[FXSwag]

Agreed. My next step is to escalate this.

[Nassaontar]

Does United World Capital currently accept US customers?

Well I asked the question and was told that they do not accept US residents however they accept US citizens if they can provide a proof of address from outside the US.
PS. They accept US residents or corporations if they classify as eligible counter parties such as investment companies, insurance companies etc.

[bravehoststamps]

Well I asked the question and was told that they do not accept US residents however they accept US citizens if they can provide a proof of address from outside the US.
PS. They accept US residents or corporations if they classify as eligible counter parties such as investment companies, insurance companies etc.

FinFX, for instance, accepts individual applications from US residents.

[SendouTheSmash]

Ya, so I didn’t backtest CitiFXPro either. I just ran a demo for a month then opened a live account. I have a live account with FinFX as well.

What are your thoughts on FinFX so far jonnyrich007? I’ve been using them as well, although it’s just a demo account. I guess I haven’t used enough brokers (still learning how to trade) to distinguish significant pros and cons among them. The only thing I really notice is the brokers tied down by the CFTC. You think you can go long-term with them?

[jpbed]

interesting stats from 2010 (can’t remember the source though)

tab1: profitable traders
Broker Q3 Profitable Accounts (%) Q4 Profitable Accounts (%) % Change from Q3 to Q4
Alpari 25% 30% 5%
FX Club 29% 19% -10%
FXCM 23% 23% 0%
FX Solutions 24% 27% 3%
Gain Capital 23% 28% 5%
GFT 33% 32% -1%
IBFX 28% 28% 0%
IG Markets 20% 26% 6%
MB Trading 24% 26% 2%
Oanda 51% 47% -4%
PFG 21% 21% 0%

tab2: traders
Broker Q3 Total Non-Discretionary Accounts Q4 Total Non-Discretionary Accounts Change from Q3 to Q4
Alpari 1,563 1,547 -17
FX Club 4,245 2,465 -1,780
FXCM 15,023 18,362 3,339
FX Solutions 6,587 5,481 -1,106
Gain Capital 11,344 14,628 3,284
GFT 10,358 9,878 -480
IBFX 18,579 13,669 -4,910
IG Markets 464 378 -86
MB Trading 4,822 4,478 -344
Oanda 49,584 48,866 -718
PFG 2,098 1,791 -307

[bravehoststamps]

What are your thoughts on FinFX so far jonnyrich007? I’ve been using them as well, although it’s just a demo account. I guess I haven’t used enough brokers (still learning how to trade) to distinguish significant pros and cons among them. The only thing I really notice is the brokers tied down by the CFTC. You think you can go long-term with them?

I’ve been using FinFX for a while - they’re a very decent broker.

[FBS_Official]

What an interesting discussion you have here! I would like to take my part saying that FBS broker is also using MT4 and currently working on getting MT5 as soon as possible.

[bravehoststamps]

What an interesting discussion you have here! I would like to take my part saying that FBS broker is also using MT4 and currently working on getting MT5 as soon as possible.

Regrettably, you don’t take the US clients.

[bravehoststamps]

You are right, unfortunately our services are currently not available for the US citizens, though we do believe that this will be changed in future so we would have clients from all countries as for now, FBS geography covers almost all countries.

Why are your services not available to the US citizens? Are you subject to the US regulations or to those of Panama?

[johnnyb1985]

Just opened an MT4 demo account with Oanda after considering FXCM, ThinkorSwim, and FXSol. For those of you with Onada, are the average spreads better than FXSol, on say EUR/USD? Oanda seems to have the least negative reviews so far.
Wondering if Oanda has plans to make MT5 available. Open to suggestions of other brokers as long as you are not a ‘shill’.