MY GOD! Any decent forex brokers out there at all?

[Nancy Cheah]

I've many friends who informed me that they've been in existence for almost a decade and their services have been on the deteriorating for quite some time.

Regards.

 

[JohnP]

Keep in mind that a lot of the bad reviews can be from competiting brokers trashing their competition.

 

[Cesil]

I run an account with saxo, have done for quite a while now. No problems with anything at all. Everything you've mentioned wanting to trade they can do. If you run a large account the extra's you get are very good as well.

 

[TheMan]

more details needed

could u give more specific details about all your experience so far with Saxo, and how has the trading been?

also, could u tell me more about how to get the extras, and what are the requirements for that.

I run an account with saxo, have done for quite a while now. No problems with anything at all. Everything you've mentioned wanting to trade they can do. If you run a large account the extra's you get are very good as well.

 

[TheMan]

also keep in mind that a lot of the good reviews can be from brokers or friends of the company window-dressing their own company.

so how do you do which is which for all the reviews?

Keep in mind that a lot of the bad reviews can be from competiting brokers trashing their competition.

 

[Nancy Cheah]

I've been with Saxo Bank (Singapore) for slightly more than a month and I find that they're alright.

Regards.

 

[Cesil]

could u give more specific details about all your experience so far with Saxo, and how has the trading been?

also, could u tell me more about how to get the extras, and what are the requirements for that.

Off the top of my head I think its an account value of £20k for more than a month, then maintaining a cash balance of £10k+. It's called 'Liquid Club' & is run thru a corporate concierge service called Limecard. As with any company, obviously the bigger your account gets the more attention they pay you to ensure you don't leave.

As far as trading goes I've never had any issues with them of any kind.

 

[katalin Kovacs]

The Man is ask many many questions! I think that Nancy Chea answer you good with broker Saxo in Singapore, this is not far form you and they must have and deal with many client in that area of the world. I am sorry but you must be the person who do all the due diligence, just becaus 1 person like 1 broker it may be no good for your investment idea or trading style. What you want? NDD-STP or MM? You have to do the hard reserchings. We have been using AC-Market, my husband is money manager for his Hungarian clients, and for us is good, but maybe not for you.

Open many demos and see which you like!

 

[Nancy Cheah]

Let's just hope he tries out a broker which is near to him.

 

[Armin R.]

Check Out Brokers THOROUGHLY!

Hi Everyone!

Like everything else, when you are first getting into the forex and looking for a good broker the best advice I can give anyone is to go to the National Futures Association (NFA) website and the Commodity Futures Trading Commission (CFTC) website and see if your broker is registered with them and what kind of a track record your chosen broker has with them. If your broker of choice is not registered with the NFA or has a lot of complaints against them, avoid that particular broker like the plague. If a broker is not registered with the NFA or CFTC you have absolutely no recourse in dispute resolution with that particular broker. The CFTC has a good webpage on all kinds of links where you can check out your broker before signing. No matter what a broker promises or how good they look, check them out thoroughly before signing up with them. To some degree the forex industry is still like the old west. Because it's an OTC industry, as opposed to the stock market which is highly centralized, the forex is open to much more abuse and less regulation. Above all things, buyer beware. If you have any doubts at all about the broker you want to go with, move on to the next one. There are some pretty good brokers out there but there are also some real losers which give the rest a bad name. Remember also that the broker is NOT your friend. They exist to make a profit and some are less than ethical about it than others. Do your due diligence before signing on the dotted line and it will save you a ton of grief on down the road. Happy trading!

Armin