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a weird thing

cklayus

Private, 1st Class
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I was going through the list of forex broker reviews and looked at 4-5 star brokers with many reviews (above 100).
Most of them are not regulated in a "normal" authority.
That is very strange to me.
 
I was going through the list of forex broker reviews and looked at 4-5 star brokers with many reviews (above 100).
Most of them are not regulated in a "normal" authority.
That is very strange to me.

Where you found it and name few brokers to check :)
 
In the forex brokers list here. if you sort them by rating, we are looking for more then 100 reviews, for greater credibility.
if you go from to to bottom:
first we have GLOBALPRIME - ASIC they are ok.
ATC - NFA and the uk regulatot (FCA i think) good
but the you get
fxchoice, tallinex, tikmill (98 reviews but close enough), HOT FOREX with 400+ reviews from mauritius or whatever, nordfx.
now I dont say they are bad broker but they are not properlly regulated for sure.
after that you have some regulated brokers, and specifically ICmarkets.com (a broker that I am looking very closely thees days, thinking about trading with them)
exness from cypress is getting decent reviews with 400+ comments. but big NFA regulated names like OANADA and FXCM are way down the list. xm.com is above them also with 400+ comments (I read they are numer 2 the world), from cypress
 
Yeah. I don't think you can find 4-5 stars without regulated especially in FPA. Even regulated, I usually saw 2-3 stars. LoL.
 
In the forex brokers list here. if you sort them by rating, we are looking for more then 100 reviews, for greater credibility.
if you go from to to bottom:
first we have GLOBALPRIME - ASIC they are ok.
ATC - NFA and the uk regulatot (FCA i think) good
but the you get
fxchoice, tallinex, tikmill (98 reviews but close enough), HOT FOREX with 400+ reviews from mauritius or whatever, nordfx.
now I dont say they are bad broker but they are not properlly regulated for sure.
after that you have some regulated brokers, and specifically ICmarkets.com (a broker that I am looking very closely thees days, thinking about trading with them)
exness from cypress is getting decent reviews with 400+ comments. but big NFA regulated names like OANADA and FXCM are way down the list. xm.com is above them also with 400+ comments (I read they are numer 2 the world), from cypress

About ATC you can read this thread to get some answer https://www.forexpeacearmy.com/community/threads/atc-good-fxcm-bad-how-is-that.46677/
 
I believe there are any number of brokers out there which now regret using assorted bonus offers to lure in clueless traders.

Imagine 2 traders.

Trader 1 doesn't understand leverage, but finds an offer to open an account for $20 which comes with a big bonus. Lack of understanding leverage also means this person will interpret a margin call as "The broker closed all my positions and took my money." This person leaves a 1 star review.

Trader 2 is a professional. Opens a $5000 account to test the broker, ignores bonuses, and ends up pleased with how well the broker executes trades. He leaves a 5 star review.

Traders 1 and 2 have equal power to affect the ratings. There are many more new clients who match the description of Trader 1 than Trader 2. If the broker offers super-low account opening minimums (perhaps even some no-deposit bonuses) and big bonuses on deposits, this will bring in many more like Trader 1 while not bringing in very many like Trader 2.

Throw in a few more mistakes like that and a good broker can sabotage their own ratings quite effectively.
 
There's a big difference between reviews and ratings. If you look at reviews solely by rating without reading the text, you are equating someone freaking out over 1 day delay in a withdrawal to someone who's been struggling to get a withdrawal for months.

You have to READ the reviews. Then you can get a better idea which bad ones are just people whining and which good ones are suspiciously like "Wow, this broker is super. I love this broker."

Also, this will help you narrow things down considerably:

How to Select a Forex Broker
 
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