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Forex Brokerage Concerns

Discussion in 'Forex Company Comparisons' started by Doug2, May 8, 2010.

  1. Doug2

    Doug2 Recruit

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    I've been trading everything (stocks, options, futures) EXCEPT Forex for a long time. Why? Because every time I look into the forex market I constantly read about the investor's inability to trust the integrity of the bid/ask, the broker and the general situation. I trade the euro/dollar on the CME, but would like to trade in the forex market.

    I've looked through some of the recommendations and scams reports, so I guess I have another way of asking.

    Does anyone really really like their forex account setup and broker? (I realize this may be asking for "interested parties" to spam the answer and talk their own book, but it's probably worth the risk.

    For futures trading, I can tell you that I've liked every futures broker I've had (4, so far) and only changed accounts because there was a more competitive margin setup, or they were set up to handle a different front end. I never had any issues with the integrity of my broker or how my account was handled.

    tia,

    Doug2
     
  2. Bowmaker

    Bowmaker Private, 1st Class

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    If you read reviews on this site or other forums you will probably be put off all brokers. There are certainly some bad brokers out there but there are also a lot of good ones. People will write bad reviews, looking for a scapegoat if they lose money, blaming the broker instead of themselves for bad decisions or poor money management.
    Look for a broker who has been around for a long time and is fully regulated, as they are probably still there because they are fair and above board. Also the number of reviews is important as a broker may get 5 stars but if its only from 3 or 4 reviews then its not credible. I have 3 live accounts, Alpari UK, MIG and Fxpro and can honestly say that I have never had any problems with any of them.
     

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