I used them and asked them about something technical like a P&C order or an OBO order which they do not do. The y sent me an e-mail and tried to convince me that the above oders are what is called a trailing stop. Then they called me about a live account with money, which I declined to do. I told the guy that he gave me a bunch of lies to explain why they did not offer such types of trades, they think everybody is stupid. I had a demo account for $5000 and in a month had almost $9000, then they changed the format for trading that made you stop and target price far out so you would lose money. I simply watched my trades and still beat these people. I will not trade real money with this company they are liars and cheaters and hate for the client to make money.
Garbage Broker , just complete garbage. I have a live account with them i'm closing . Just thought I would let everyone know before they fall in this trap. Extremely high fixed spreads, poor customer service, nothing but a IB of FXDD with fixed spread that are designed to eat up your account.
Forex Meta is the worst broker you can find , they are an IB for FXDD, they charge a spread 1 pip higher than FXDD does so they can bank on the extra commission they get. Not to mention they have the worst customer support , the rep on the phone was rude and short with his answers. He could not answer basic FX questions
Also fyi for anyone considering a demo , your name and contact will be sold to third party lists for Forex Products and services. So be prepared to get called and spammed after you sign up for a demo with them.
Run far away from this IB !
I think you'll find their server is CYprus based like several others, which is why you'll get the GMT +3
Product performs okay, no real slippage, downtime etc etc
That isn't a real issue, the spreads are the problem, I mean EUR/GBP 6 pips, c'mon guys that is just c*** !!
ForexMeta was a recommended broker for a product I purchased. I got the help I needed in getting setup. My account saw good returns. This may have been the strategy, not the broker. Either I am happy having my account there.
I was totally new a month ago in the Forex world and signed up an account with ForexMeta / FXDD for $500 USD. And one of the first thing I noticed was the difference between the spread in their demo accounts and their live one. Just that is a real turn off for me. No where to be advertized on their site.
Also one thing fishy to me is their GMT offset (+3). Their site shows that they are established in Chicago (The real Chicago USA is not in the GMT +3 time zone, which would be more like Baghdad, Kuwait, Nairobi, Moscow ). I am getting out and am still looking for honest Forex brokers that deliver what they advertise. Plus I have purchased one of those reputable EA that performed well on their demo accounts but would not perform at all because of the risk of high spreads on the live accounts. So those licenses I bought are down the drain since they are one license per live acccount.
Looking at all the reviews, will I get the balance of my account? At this point, I am not sure anymore.
It appears that ForexMeta is an Introducing Broker for FXDD; that is, ForexMeta refers clients to FXDD. The problem is establishing how ForexMeta derives an income, since they are really not the actual brokerge house. That may be why the [pip spread from ForexMeta is higher than directly from FXDD.
Additionally, I opened a Demo Account with ForexMeta, and indeed the Email news comes from FXDD. I found ForexMeta support very poor. The person answering the phone does not seem to be knowlegeable about the platform Met4. Also, from time time the connection breaks, and I have to close the program and open again.
Thanks to Jeremy from Arizona for confirming my doubts.
I have opened my account with Forexmeta, and can confirm that their spread is 1 pip higher for all currencies compared to FXDD.
I verified that comparing my forexmeta live account with the FXDD demo account, which, according to FXDD, shows exactly the same spread of the live one (see http://www.fxdd.com/en/learning-center/faq/demo-account.html).
Imho, very dishonest operation trying to take advantage of the new trader. If you open an account with FXDD through them your spreads are 1 pip higher than they would be otherwise. This fact is not mentioned anywhere on their website or in any fine print that I could find. I did not find out about this fact until I complained several times with FXDD about the spreads being so high.
5 stars? Hmm. Elsewhere you will see that some of us have had trouble getting our live accounts open - especially in the run up to Christmas to take advantage of their christmas bonus.
In a way, I am glad for the delay as after the hols, I had a look at their spreads (about 12pm GMT):
Forex Meta another broker (same time)
EURGBP - 6 pips 3 pips
EURCHF - 5 pips 4 pips
GBPCHF - 10 pips 12 pips
USDCAD - 6 pips 5 pips
GBPUSD - 5 pips 4 pips
EURUSD - 3 pips 2 pips
Generally, the pip spread seems to be worse with Forex Meta. You have been warned.