Find a good broker

[cowmadagan]

OK, after reading Ludvik's post I have one more thing to say. Why forex? I originally got into forex because I felt that all companies cook their books, and so stocks are not for me. If they cook their books, they might be the next BreX or Enron. You can put in real money and end up with zero.
If you keep your savings in multiple currencies then you know that your buying power is stable...erm..what? Quantitative Easing? Are you kidding me? They're printing how much?
OK, well, unlike stocks, a major currency can't ever completely lose its value...erm...what?..oh come on...
OK, well, forex is leveraged, which means you can end up with zero.
So, why forex?
Because you can do it yourself if that's what you want to do.
I personally can't see any reason to pick a managed forex account over a managed portfolio. The real reason why I pick forex is because I can bail. I mean that if something bad happens to my currency and it's not banking hours, I can get out.

 

[cowmadagan]

I fully recommend FXCM's Micro Account for Beginner/LowInvestment traders. I just finished a 90+ day test drive(live account) and I think very highly of it's performance. Quite a change from my past experiences. PM me for details if you are serious.

8fingers...are you...ok?
I've never seen you say anything positive about anything ever (except where you live)...has your account been hacked?

 

[Pharaoh]

I think Cowmadigan is right. Usually, the best thing he says about a broker is "they haven't scammed me, yet".

Either Ernest's account got hacked or something's gone terribly wrong with his meds.

 

[Ludvik Cizinsky]

Update: Best Of The Best Brokers...

Few days ago, when I wrote my post, advising Ros on this issue, I was convinced that the most of the good and honest brokers, if not all of them, have gone extinct! But after my most recent experience, I have to retrace myself. Just last weekend, I found out that there is at least one broker, who is decent and fair to its clients and can be trusted - "TheCollectiveFX". Not too many people know about its existence since they do not advertise. They don't have to! They successfully trade themselves and earn little extra from their present clientele while sharing the perks! They are so successful that, time to time, they may refuse to take new members. There is another favorable aspect about them: although they are technically a brokerage, practically they are a "collective" of traders. This status help them to be exempt from the new NFA guidelines! Check it out! Please this is not a promo but an info from which many traders can benefit!

 

[Music Man]

Yeah, there are a number of CFX members hanging around here. In fact, FPA is where I found out about theCollectiveFX last summer. I couldn't get in on the first wave, but I was lucky enough to get in on their 1st waiting list invitation.

What an adventure that turned out to be, too. I was travelling, in Bucharest for business, when I got the email. There was a time specified when an email containing a link to the application page was to be sent, which turned out to be 3AM in Bucharest. So, there I am in the hotel restaurant, waiting for the email, when my laptop power supply dies. I just manage to fill out the form and send the application, which ends with a page saying a confirmation email s being sent and that the membership is not done until I respond. Then, the battery dies. I frantically waited for a few minutes to let the battery rest and the email arrive. When I turned it on, I was quite relieved to be able to send the confirmation email just as the battery died for good.

For the record, I am very pleased. I love those guys.

The only thing is that you pay the membership fee whether you trade or not. So, there is a real incentive, not only to trade, but to make more than the fee. If you are losing and paying the fee on top of it, that could be a little discouraging after a while. This makes CFX great for the profitable trader who trades often enough to make the commission savings cover the fee.

CFX is more like Forex infrastructure as a service than a broker.

MM

 

[ernest8fingers]

8fingers...are you...ok?
I've never seen you say anything positive about anything ever (except where you live)...has your account been hacked?

Off Meds forever! I only stopped sticking pins in my FXCM doll last December(2009). I was their undying critic(so I thought). They gave me an opportunity to test drive their Microaccount trading and I took it. Vast improvement over the mini account I had had previously. NIGHT & DAY difference - IMO. I wouldnt say any of this if I had thought it was crap. Spreads were good too. As unbelievable as it seems (my previous posts on FXCM were not kind) my opinion of this Broker has changed. Not just improved but 180 degree turnaround.(Micro at least). I hope they survive and thrive to serve up some decent Forex as good,honest Brokers are a dying breed.

 

[Pharaoh]

Yep, I think that pretty much proves Ernest's account has been hacked.

 

[ernest8fingers]

Yep, I think that pretty much proves Ernest's account has been hacked.

ATTENTION: ALL PLANETS OF THE SOLAR FEDERATION - WE HAVE ASSUMED CONTROL ! WE HAVE ASSUMED CONTROL ! lol

 

[Ros Fragrance]

Appreciation !

Hello to all dear members who reply me before...

After spending my time searching for a good broker, by reading broker review on FPA and by testing a lot of demo accounts with many brokers and also opened live accounts with a small amount of deposit. I think finally I have found the most suitable broker for me to work seriously for forex trading is... FXOpen

But here I still need a comments from FPA members according to my decesion to choose this broker to work with.

Thanks to all who has given me a lot of opinions about brokers and forex trading.

Asia Newbie

 

[Ros Fragrance]

Waiting List

Yeah, there are a number of CFX members hanging around here. In fact, FPA is where I found out about theCollectiveFX last summer. I couldn't get in on the first wave, but I was lucky enough to get in on their 1st waiting list invitation.

What an adventure that turned out to be, too. I was travelling, in Bucharest for business, when I got the email. There was a time specified when an email containing a link to the application page was to be sent, which turned out to be 3AM in Bucharest. So, there I am in the hotel restaurant, waiting for the email, when my laptop power supply dies. I just manage to fill out the form and send the application, which ends with a page saying a confirmation email s being sent and that the membership is not done until I respond. Then, the battery dies. I frantically waited for a few minutes to let the battery rest and the email arrive. When I turned it on, I was quite relieved to be able to send the confirmation email just as the battery died for good.

For the record, I am very pleased. I love those guys.

The only thing is that you pay the membership fee whether you trade or not. So, there is a real incentive, not only to trade, but to make more than the fee. If you are losing and paying the fee on top of it, that could be a little discouraging after a while. This makes CFX great for the profitable trader who trades often enough to make the commission savings cover the fee.

CFX is more like Forex infrastructure as a service than a broker.

MM

I am on TheCollectivefx waiting list... Thank you !