Searching So, are there any brokers anyone likes?

[15IHc]

fxEd

For the Assistant Moderator:

I've only been interested in trading for about eight months, and have done very little of it. My forex broker experience has been in applying for forex accounts, but not yet completing the appliction process to open one (for reasons not discussed here).

In any event, my recent experience has involved four brokerages: FXDD, ForexMeta, Zecco, and Lotus Brokerage Services. The only actual trades I've made have been with Zecco (a penny stock) and Lotus (two spreads and a futures contract).

So, in response to your 8/19/10 request, and in the order given above: (1) FXDD has been very good at explaining things I didn't understand, but there have been exceptions, when the persons I have spoken with were unclear and at times impatient (I usually got put in touch with someone else, who cleared things up right away); (2) ForexMeta has given me very good explanations too, as a rule, and has been enthusiastic at wanting to answer whatever I wanted to ask about (like FXDD, they have been very accessible so far); (3) Zecco has been even better yet, although I haven't asked them anything yet about their forex trading services; and (4) Lotus has been very unclear (i. e., unable to put the complexities of options trading into plain English), although I suspect they may be good at giving profitable trading advice -- it is a broker-assisted account that I have with them, and the broker they assigned me to is truly a nice guy.

Also, both FXDD and ForexMeta have been patient and respectful in my reluctance to complete my application -- there has been interest in me, but no pressure to proceed, and I think that is commendable.

Closing cautionary note: again, I've done very little trading and none of it has been in currency pairs.

And lastly, I trust and sure hope you will keep this candid assessment of mine confidential. Thank you in advance.

 

[D. Moser]

Forex.com, TheCollectiveFX, Dukascopy

After a long time of searching, I have settled on these three brokers. They all behave differently and have their own pros and cons, but I definitely like all three of these brokers:

Forex.com: uses a dealing desk, but have had very few re-quotes and slippage ranges from 0-1.8 pips on order opening @ market and have had 0 slippage on closing orders via SL/TP. All my EAs operate decent in this environment and you don't have to open orders without specifying a stop loss and take profit. The price feed is filtered, so there are fewer ticks passed along than what is in the real market. I have never experienced positive slippage with this broker. Execution is reasonably fast and there is no commission other than the spread. Overall, have had a stable relationship with this broker for a few years now.

TheCollectiveFX: is a pure STP gateway that has very fast execution since a recent server upgrade. The bid/ask spreads and tick data are raw and unfiltered, thus providing EAs with more opportunities to trade since the price action has more spikes and a greater standard deviation than the price feed from Forex.com. A few times, I have experienced positive slippage that benefits my trade. You pay a fixed membership fee each month based upon the expected amount of trade volume you expect to turn in a month instead of paying a commission on each trade. Membership in TheCollectiveFX is by invitation-only. Every customer trades off of the same price feed and there is a rumor that in the future, you will be able to trade multiple price feeds for the same currency pair! The main thing here is that if you want to make money, you need to be trading enough volume to justify the monthly membership fee.

Dukascopy: is a huge ECN based in Switzerland that is likely a liquidity provider for some of the US-based FOREX brokers. Its platform is lightening-fast, the fastest I have ever used. There is no dealing desk component and every customer trades off of the same price feed. I always enter and exit trades using limit orders and have experienced positive slippage on a few trades that make the trade a little bit more profitable. I believe there is a benefit of knowing that you are trading the same exact price feed as every other Dukascopy customer whether large or small, whether you are trading 100 million units of a currency or 10 thousand units. Dukascopy charges a per-trade commission that can range considerably depending on how much money you deposit as margin, how much volume you trade in a month, and whether or not you want your funds held by Dukascopy or segregated in a separate bank.

 

[terrykiwi]

TheCollective + Forex.com

I trade Robominer, a grid system that requires LIFO for it to function, so US based brokers are no use to me (thank you CFTC for forcing me to invest offshore). Anyway, over the last 2 years I have had demo and live accounts at many brokers. I have finally settled on two:

Forex.com based in the UK, through a brokerage here in the USA. Although they are a bucket shop, I have generally found their fills to be very good, even though my TP's are not stealth, and are entered immediately after entering the trade. Spreads aren't too bad (I trade the AUD/NZD only) and they average about 8-10 pips). Many other brokers charge 10-15 for this pair. If you want to see my trading results with this broker, go to MT Intelligence - Statement for traderterry

3 months ago I opened a second account with TheCollectiveFX. This is not strictly a broker--more of a STP. It is a private, paid membership, and you have to apply for membership acceptance and join a waiting list. Minimum fee is $147/month which seems a lot, but spreads are awesome - averaging around 5 pips for the same pair. What this means is that more trades are opened/closed than with a wider spread, so it is more profitable. Their servers are like lightning! I'm very pleased with them. Support is by email/Skype only unless it's an emergency, but they're pretty responsive. I have a good chunk of change in this account so my profits easily cover the cost.

This is my web page about Robominer for those who are interested:
Perfect Forex Robot?

Happy trading

 

[Svetkata]

Brokers

I have tried Oanda , Ig markets and Deltastock

I have Live account with Deltastock for almost 6 months now
I think they are
Honest broker with long history(1998).Have dealing desk and ECn part where quotes are provided by big banks and brokers. Spreads on the ECN are extremely low with cheap commissions.I can trade futures, stocks,indexes options, forex etc. They are recently dropping down the spread for a lot of CFDs Has proprietray trading platform, which is very powerful and may be totally programmed using their Java API. MT4 is also available for novice traders. Good videos explaining everything for the platform. I am quite happy with the execution, as well. Fast payments and good customer service. Never used the chat though

 

[Hartono]

Admiral Markets is a good broker

My name is Hartono and I have a friend, his name is Agung, who have account on Admiral Markets, tell me that this broker is very good, because of very fast withdrawal, from broker to his account (in Indonesia) just need 2 days only by bank transfer ( very low fee too ). And need to knows that his withdrawal is from cash prize contest.

 

[cvskumari]

havnt found a good broker yet

i have traded with most of the forex companies, like gci trading, forexyard, saxobank, figfx, forinvest, onecfd, kerfordfx, uwcfx,

havnt faced problem till last year, once i faced problem with forinvest i closed my account then now facing problem with figfx.

i have seen reviews on figfx they have issue relating to ib and their commission but now they started new issue to trouble clients. like my account they just blocked my account saying i have not sent signed doucment of terms of service. and i dont know ever my problem is going to solve.

just becareful with companies like figfx. they might offer min spread. but there are other companies which offer better service.

atleast one which has 24hrs chat support should be there. to get get instant response from broker.

 

[f-man]

I have tried Oanda , Ig markets and Deltastock

I have Live account with Deltastock for almost 6 months now
I think they are
Honest broker with long history(1998).Have dealing desk and ECn part where quotes are provided by big banks and brokers. Spreads on the ECN are extremely low with cheap commissions.I can trade futures, stocks,indexes options, forex etc. They are recently dropping down the spread for a lot of CFDs Has proprietray trading platform, which is very powerful and may be totally programmed using their Java API. MT4 is also available for novice traders. Good videos explaining everything for the platform. I am quite happy with the execution, as well. Fast payments and good customer service. Never used the chat though

I wanted to trade with them, but the bad thing is that they don't offer ECN on MT4 platform... It is a big problem for me

 

[zunkco]

FXDD can be considered as good while choosing a broker...

Im using FXDD till Jan 2010, in this period I hadnt got any problems at all . I funded and withdrew many times, usually it takes max 12 hours for funding, 3-7 days for withdrawing( take into consideration that Im using PayPal and also international banking procedures) which is fast enough for me. They were sponsor of Redbull F1 team in year 2010 which is good for reputation. Also they arranged a competition among their live account users in which many trader got prizes at the end of the competition. So far so good Im continuing with FXDD, and I recommend it to all FPA recruits..

Good days good pips

 

[sckn009]

Initially, I trade with InterbankFX(headquartered in Salt Lake City, USA). Good broker. Very efficient support & service. As InterbankFX is a NFA registered broker, starting in August 2009, hedging is not allowed in compliance with new NFA FIFO regulations, so I decided to quit trading with InterbankFX when I was introduced to FXPRIMUS Limited by my local FX1 Academy trainer who was also Director of Training in FXPRIMUS.

Good service and super fast funding with credit card.. within 24hrs funds added to trading account. Funding allowed in local currency.
More details: www . fx primus. com/ index .php?r=21777

AsstMod Note: That URL contains a referral link. This person gets paid if anyone signs up using that link. This person doesn't care about rule 5. Now rule 6 is being invoked.

Hello Troops,

Rules:
5. If you have any other financial relationship with the broker other than being a happy customer, mention that in the first sentence. This thread is in the Commerce Zone, so commercial links are permitted. You can put in an affiliate link. If you do, tell everyone why they should use your link instead of going straight to the broker's website.

6. If I catch anyone breaking rule 4 or rule 5, the consequences won't be pleasant. I'm also hoping that everyone will follow rules 1-3. I'd like this thread to be useful, not a spam war or a flame war.

If you want to sign up for FxPrimus, got directly to FxPrimus.com. Do not follow the referral links of someone who can't follow simple rules.

 

[Ruth Berlin]

Hi, well I been trading for a long time now with eToro and so far so good, but I wanted to try another type of platform and I got very interested by mt4 and mt5 platforms so I just opened an account with Sunbirdfx I really like the mt4 platform and they are about to launch the mt5 it looks quite good.