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Are there any reliable brokers

Discussion in 'Forex Company Comparisons' started by spreadmonkey2, Mar 23, 2010.

  1. spreadmonkey2

    spreadmonkey2 Recruit

    Feb 24, 2010
    Likes Received:
    ive been trading a live account with capital spreads for a year now. no serious problems with them (although i have never got as far as requesting transferring profits back yet) other than the odd site freezing during news releases, NFP etc.

    a few weeks ago i realised there was such a thing as automated totally hands off trading (i know ive had a sheltered life).
    then dug a bit deeper and found out i could actually get some of my many trading strategies put into mql code and let loose on MT4. I did this and recieved my own shiny new EA last friday. i wound it up and let it go on a demo account yesterday, so far its opened about 11 trades and is in profit by about 60 pips so far (in 1 1/2 days).

    but ive been having a depressing day reading about what seems like almost all brokers are scam artists in one way or another.

    are there any good ones that someone can recommend me to open a live account with that i can use with my robot. its a very simple moving average cross program, its far from perfect and misses plenty of scalps but looks like it will run at a steady continuous profit (thanks to Michal at MQL service shop).

    after a year of very deep study and experimenting im finally starting to turn a consistent profit both manually and by EA. the last thing i want to do is give it all away to the crooks.

    ive seen a big list of scammers and potential scammers, is there also a list of good honest brokers to choose from.

    and if not, how hard would it be for someone like myself and/or all the other honest and decent people on here to come together and start a proper up front and honest broker company of our own, is it just the crooks that have the knowledge to do so.

    Phill H
  2. cowmadagan

    cowmadagan Sergeant

    Dec 23, 2009
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    Just a question...

    Are you aware that there are some big fat inconsistencies in your post?
  3. West Coast Pips

    West Coast Pips Sergeant

    Sep 24, 2009
    Likes Received:
    Hey spreadmonkey2

    I hear where you are coming from. It is hard to get a tool (like your EA) to work with a live account. Unfortunately people are more prone to report a broker that they have had a bad experience with. In the forums there really is not a place that lists the 'good' MT4 brokers. I have gone through about 20 live brokers in the last 5 years and none have really lived up to their words despite copious research. You are going to have to ask a lot of questions for each broker and then go by 'trial and error' with a live account. That is what I have done. Keep your risk small when trying new live accounts and just test them out. Good luck, WCP.
    #3 West Coast Pips, Mar 28, 2010
    Last edited: Mar 28, 2010

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