Who are Some of the Best Brokers so far

RahmanSL

Major
Messages
2,536
I have traded LIVE with InstaForex in the past and I dump them in a hurry coz their platform and Support are....in a nutshell... just terrible.
If you trust brokers from Russia, well, go ahead and trade with them.

The FPA is a free forum site where Traders have at least somewhere to voice their discontent(s) with their brokers and can receive help from fellow FPA members to try to help them to solve their problem(s).

However, a lot of Newbies come to the FPA crying they have been scammed by so-and-so broker (who, if they have done their research first, should not be trading with the bucketshop broker in the first place) and ACTUALLY EXPECT the FPA to behave like their local police to go arrest & put the scammer broker in prison or something. It just doesn't work that way!

The FPA is a place for Traders to get together and to help other traders whether it be in their daily trading, trade advices, FREE Forex education, etc....and, of course, to try to help fellow FPA members with problems they might face with their brokers.

Apart from the Forex Peace Army, where else can Traders go to voice their grievances with their brokers???
 

lbianchi86

Recruit
Messages
7
Actually, that scam folder saved me so much trouble and time... imagine I had to open a demo account with every broker that I found, only to reveal they are no good... at least this way, you have a pre-selecton already made... Already said once, but- Thanks a lot :p
 

Brian Shaw

Highly suspicious person
Messages
18
That means there is no broker out there which can meet your wish list....which means you will just have to settle for a broker that meets most of the requirements on your wish list:p......which prove there is no such thing as a perfect broker:cool:
There is no such thing as a perfect broker. But a good broker should be one that you can trust with your investment.
 

forex-Dean

Private
Messages
17
There is no such thing as a perfect broker. But a good broker should be one that you can trust with your investment.
Yes, you're right Brian. And this is what I am looking for; a playing field where traders and brokers and do honest and fairly business.
 

Brian Shaw

Highly suspicious person
Messages
18
Thank you. In today's economic turmoil, it is only practical to avoid getting scammed. For me, the risk is tolerable because I already know about it in the first place. What's not acceptable is to be cheated on by unscrupulous individuals. We should be on the lookout for these persons. They are a disgrace to the serious players in the financial market.
 

Nomer Smith

Private
Messages
17
There are good brokers outside the USA. You asked for US or UK regulated and I pointed out that US definitely could not legally meet your leverage request and that I think UK also may have some limits.

US broker regulation is far from perfect, but it's one of the best out there in terms of client protection. In my opinion (others may disagree), UK and Switzerland are next, followed by Australia. Cyprus and New Zealand are showing signs of improvement, but still have a way to go to gain my confidence.

If I was the evil, greedy person you seem to be inferring, I'd just tell you to go to whatever broker is currently showing the most banners here. I'll make you a deal. If you can find a single post of mine here where I seriously endorse a specific brokerage as THE best broker for someone, I'll send you $1000. Do note the word "seriously". I have sarcastically recommended some scam-rated brokers to a few people who deserved it and joked about how "honest" a few brokers were in threads about how dishonest they were.

The truth is that I don't personally recommend any specific brokerage, not even the bucketshop I use. A broker's offerings and a client's needs have to be matched. The most I've done is to tell someone that a broker that they asked about would be worth checking out more closely and possibly testing with a small account. Years ago, I wrote an article on the subject and suggest you take the time to read it:

http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker.html

I do recommend that you select a broker with as good of regulation as you can find. I also recommend you consider a trading style that doesn't require such extreme leverage. Although no one forces a trader to use high leverage, anyone I see looking for more than a few hundred to one is likely to be a person who doesn't follow a decent risk management strategy. Here's another article you should read:

http://www.forexpeacearmy.com/forex...2272-how-manage-risk-while-forex-trading.html

If you want to complain about advertising or an advertiser, talk to AsstModerator. He's cancelled ad contracts from more than one company that abused clients. If you think the FPA shouldn't have any ads, make sure to tell him how much you are willing to pay each month to make the FPA banner-free.
I am very thankful for this valuable piece of information from Pharaoh. It can surely help me learn forex and binary trading at the same time. I had actually been following a few threads. All of them had been insightful and they can surely help me in identifying good brokers. I consider my stay here a good move towards proper good risk and investment management.
 

freecolley

Recruit
Messages
11
The FPA is a place for Traders to get together and to help other traders whether it be in their daily trading, trade advices, FREE Forex education, etc....and, of course, to try to help fellow FPA members with problems they might face with their brokers.
Is there a way to tell if the "commenter" is a real trader? What if some of them are just employees or hired hands of a particular broker and tasked to destroy the credibility of a competitor?
 

willfletch

Private
Messages
10
Is there a way to tell if the "commenter" is a real trader? What if some of them are just employees or hired hands of a particular broker and tasked to destroy the credibility of a competitor?
In my own opinion, the chances are slim and that's the irony of sites like this. Unscrupulous brokers can use the site to destroy competitors for free.
 

Pharaoh

Colonel
Messages
19,786
Here's the trick. Unscrupulous brokers love to take shortcuts and don't want to put in any more effort than the bare minimum necessary. If you see someone with a brand new account making only a couple posts to attack (especially without any evidence) or defend a broker, there's a good chance that the person was paid to post.

On the other hand, if you see someone who's been around and active for a few years, chances are that they have a real opinion about how good/bad a broker is.
 

Brian Shaw

Highly suspicious person
Messages
18
Is there a way to tell if the "commenter" is a real trader? What if some of them are just employees or hired hands of a particular broker and tasked to destroy the credibility of a competitor?
If I am correct, I think there are at least three types of commenters in any binary options or forex forum. The real trader, the promoter and the (credibility) destroyer.
 
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