1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

After weeks of search I select 3brokers,need help to choose one..

Discussion in 'Forex Company Comparisons' started by dasser, Mar 1, 2012.

  1. dasser

    dasser Private, 1st Class

    Joined:
    Feb 29, 2012
    Messages:
    43
    Likes Received:
    0
    hi everybody! after being scamed by PLUS500 broker ( more than 8000eur in my CLOSED account) I decide to search for a reliable broker..

    I wanted one: REGULATED, with MT4, 5digits on eur/usd..

    I have read all the reviews, on this site and others, and conclude that there is no Perfect Broker...

    I get influenced a little by 4xangels wich seems to be honest and offer good rebates....

    so I select those 3:

    TradingPoint
    Windsor
    Hotforex

    I have already tried their DEMO and tested the customer support, so far so good.. but I would like t get some opinions from people who already get Live with them....

    thank you all!
     
  2. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,658
    Likes Received:
    2,205
    At last! Someone who's doing some real homework instead of asking "who's the perfect broker?"

    I don't have a live account with any of those, but do recommend that you keep testing their customer support. If possible, open a very small live account with each, then test live vs. demo trading and the withdrawal process.
     
  3. RahmanSL

    RahmanSL Major

    Joined:
    Jan 16, 2010
    Messages:
    2,516
    Likes Received:
    199
    When you say "Regulated", that is normally taken to mean regulated by the NFA, FSA, ASIC, BCSC, NZX, and various Swiss authorities.

    The 3 brokers you mentioned are "regulated" by the Cypriot authorities (Trading point & Winsor) and Mauritius (Hotforex).

    I have one Live & one Demo trading account with Trading Point (none with the other 2) and so far I have only one small issue with them which, hopefully, should be settled soon.
    Hotforex seems to have a recent hot issue from one of their clients & IB, so follow that thread and see how Hotforex deal with the complaint.

    As the Ruler-Of-Upper & Lower Egypt said, open a very small live account with each of them to find out first hand how each one treats you as a client.

    Good luck with your choice!
     
  4. Globalfx

    Globalfx Private

    Joined:
    Feb 23, 2012
    Messages:
    27
    Likes Received:
    0
    There are only a few brokers in the world thru which one should realistically attempt to trade forex.

    There are also only a few platforms to trade on. MT4 has market penetration, so brokers offer it and thru plug-ins manipulate executions; ideally one should avoid it like the plague.

    Focus on the true ECN providers. And again there are some brokers who manipulate spreads on those too.

    Ultimately, broker choice depends on where you are located, the size of your account and the size/volume you intent to trade.

    I cant believe the amount of of cornball forex broker/dealers there are out there, they sprout and wilt daily.

    It is difficult to trust broker reviews provided by novice traders, many of whom never traded with direct access and never will.
     
  5. dasser

    dasser Private, 1st Class

    Joined:
    Feb 29, 2012
    Messages:
    43
    Likes Received:
    0
    I tottaly agree, it is so dificult to select a broker...even when seems to found one, there always be someone complaining about it...

    About the MT4, I know that some brokers use individual software to trade against each client, but can we trust a broker home platform?..

    For the ecn account, I don't really like the commissions, I feel like paying twice.. spread+com... and there is many MarketMakers claiming to be REAL ECN....

    I almost strated to believe that we must be more worried about the broker than the Market itself.... The market can be very bad, but he is neutral and the broker can be against YOU Personally.... :(

    I'm testing the 3 brokers listed above, and some others.... and in the DEMO, everything is smooth...... but, will it be the same in REAL? and when I will ask for withdraws?.... That is the question.. :)
     
  6. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,658
    Likes Received:
    2,205
    If you have some confidence in client support, the demo execution, and the regulation, then you can consider trying out a small live account.

    For ECN's, those commissions can end up making the trade too expensive. Others keep the spreads tight and only ask a small commission. You need to verify if they charge commission both for opening and closing a trade or if it's a one time charge for opening the trade. Once you have that information, you can try to determine just how expensive or cheap the trading costs are compared to other brokers.
     
  7. Globalfx

    Globalfx Private

    Joined:
    Feb 23, 2012
    Messages:
    27
    Likes Received:
    0
    Just Get Paid

     
  8. David zruia

    David zruia Plus500 Representative

    Joined:
    Nov 7, 2011
    Messages:
    8
    Likes Received:
    0
    Hello Dasser,

    Your account has been closed due to a scalping activity.

    At first, You have received a warning about scalping and were explained that scalping is currently considered to be a FELONY in Europe (not only at Plus500). Since you have continued trading by scalping , we closed your account (note that you have invested in Plus500 an amount of 4000 EUR and were paid back 14,550 EUR so your claim of "not getting your money" is absurd).

    Later, you have asked for another chance and promised to stop scalping . We reactivated your account and were willing to give you another chance as long as you'll keep your word and won't do scalping again. Once you have continued scalping (breaching the Plus500 policy which you agreed to upon registration by signing the "User Agreement" and breaking the European low again) we closed your account again, not before sending you a notification again.

    At that point , out of fairness, you were offered a settlement of 2000 EUR which you have agreed to and received immediately.
    Beside that, I see the log of your entire conversation with us and would like to mention that our support team responded quickly at all points of time In contrast to what you have written above.

    If you post that "Plus500 is a scam", you should post the entire and true story.

    David Zruia
    Plus500
     
  9. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,658
    Likes Received:
    2,205
  10. lincolnppl

    lincolnppl Private

    Joined:
    Dec 19, 2011
    Messages:
    15
    Likes Received:
    0
    Hello.
    I don't have any good advices, but i think good rebates is not argument, that is not standpoint at all.
    If a broker give you rebates and not gigantic, for example fxcm, then the rebates an early sign that that is not as good as you thought.
     

Share This Page