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Correction to a Previous Post. In A previous post
I indicated I was generally satisifed with RXFT
but I had a suspicious phantom transaction show up
that I did not initiate, After much discussion and investigation on their part it turns it it was an Expert system firing off trades on charts as I was fliping through them. So I am very satisfied with them now. They resolved the issue to my complete satisfaction.
2007-09-25 3 Stars
UP until yesterday I was quite happy with Royal Forex the spreads are a little wider than I would like but not bad. I am reqouted only on fast moving pairs.
However something really strange happened sunday evening. I had one trade on and was working on another monitor downloading songs from napster on another monitor(I have a multi moniotr setup). When suddenly a trade appeared that I did not place. It was for a size I do not trade and for a take profit target of 100 pips.
I immdediately closed out the trade for a $32.00 loss not the end of the world. I immediately called the dealing desk and asked about this strange transaction. I also checked the place order menu which still showed the size of my last legitmate order, which was different from this order(it remembers the size of the last order placed every time with out fail).They said they would turn it over to the audit department and get back to me. Of course they did not so I called the next day. Spoke to the deal desk again.They said they would call me back that day and of course they did not so I follwed up the next day.
The guy asked me my ip address and I told him what it was. I should have asked him what the report said it was. He said the order definetly came from my pc???? Now this is very peculiar and I am on my guard with them as I did not place that order unless my pc has ghosts or gremlins.
Great pricing and excellent technical analysis support.
It is the best one so far for me, and i mean the best. Of course, the spreads could be better, but i am not taking too many trades, so i really care about the execution instead of spreads. And by the way, dear "NEWS TRADERS" (gimmick traders i mean), it is not for you, actually none of the brokers are for you anymore, so pls do not submit a negative review here. One of their staff told me that they had an 85% return rate (i.e. customers returning after leaving), which is nice. I have never withdrawn my profits though, will do it today, and i am sure everything will go smoothly, will let you know if not. The execution is fastest, online live chat is always there, and always ready to solve your problem...
And here is my own comment: i would always prefer to be with a small company, as in general they offer way better and customized service compared to big companies. Well, you could say what about NFA capital requirements? Here is the answer: they are increasing it to 5 mln soon, in about a week...
Extremely fast to open live account, no hassles and great customer support.
Extremely professional. Great quality customer service. I usually trade 50 to 100 standard lots with no problem and the system is never down. I would like to mention that they have Fast free wire transfers.
This company is as professional as they get. Excellent execution, and the customer service is the best in the industry. Try talking to one of their staff about technicals and they will really educate you. Five star all the way and would recommend them to anyone.
Good spreads on big currencies; fast execution, even on news events; good live news feed; effecient, well trained and responsive support staff; very nice software, best i've found; fast deposit time (5 mins)
Been trading on a live account for about a month, i'm very happy, i have only one concern. I was in a trade which was currently going sideways, then suddenly a spike of exactly 100pips that lasted 3 seconds happened and wiped my account. I've just spoke to their support staff who tell me it should be okay and they should refund all the funds.
If they don't refund me i'll be extremly disappointed and you'll see a message above saying whats happened, otherwise i'll give them 5/5.
These guys were excellent at their executions when they were freedomfx, as soon as they became RFXT, I can't get filled at all during news, i would at least expect normal requotes by 10-15 pips the most. There is no reason for me to post something negative about any company as i would like to believe that what i am reading here is also accurate. As their current client I am not happy with their executions and their requotes are insane. Requotes to where the market hasn't reach yet is really crazy, when i call them to solve the problem, they always say market has skipped the price you tried to get in at. I just don't understand how the market always skips prices. Will trade with these guys little bit more before I transfer the rest of my funds to another reliable broker.
I was referred to RFXT through a colleague that manages a small family trust fund. I have to say that I couldnt be happier with their execution and their service. I am able to move 50 standard lots very easily and they are extremely professional. I have had the pleasure of going to their office and I was really impressed with their operations. Their sales director also came to see me here in San Fran prior to me opening with them about 4 months ago. All in all 2 thumbs up! If you want to work with dedicated pros, definately check them out. Since I started working with them, I have also referred almost a dozen clients, all of which are very satisfied :)
Review Moderation Team Note: 5 star rating removed. This review was left from RFXT's offices.
The FPA does not appreciate review spammers.
To protect the integrity of our organization, we would like to include the following comment: There is an rating from a certain David, KS.
Our firm finds his accusations to be very serious and we have completed a complete audit on his comments and have found the following: First, there is no David from Kansas listed with our company. To take it a step further, we don't have any clients from the State of Kansas. Second, the issue of re quotes is completely false. Our system has never and will never re quote anything other than a fair market price. To say that he was re quoted 30, 50, then 100 pips away from the current market price is not only false but a policy that we at RFXT would never implement. Third the issue of his position being reduced from 40 to 1 lots is another statement we dont understand. Our clientèles positions are self directed and RFXT just doesn't reduce positions for no reason.
We have never received any formal complaints for such a matter and we believe this incident to be completely false. If Mr. David from Kansas would like to further identify himself, please call us at 888 347 2185. RFXT's management has worked night and day to solidify our excellent reputation amongst the FX community and will challenge such accusations with great diligence. We are fully committed to giving our clientèle the best execution as well as the best client support in the industry. Thank you for accepting our comments.