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What is your Forex Broker Experience Like?
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Medlem sedan Jun 07, 2010  82 poster Sir. Williams (wilfredoaa) Nov 05 2010 at 17:46
I have some experience using Oanda, FXCM and Interbank FX.

This thread will be nice for us traders to learn things about what works and doesn't work with our current Forex brokers or Forex brokers we are considering trading with.

One of the things to be aware with Oanda is that Stop Loss and Take profits don't work during News. Because Oanda likes to increase their spreads during these times. For example Aud/Usd is normally about 4 pip spread but during news they can be 50 pip spread. They also like to increase spreads during slow trading time like early Sundays. So be aware of it, very aware.

I will be posting more good and bad stuff about the forex brokers I have experience with. In the meantime tell me about your forex broker, good or bad experiences.

Grace is the greatest thing ever!

Medlem sedan Jun 07, 2010  82 poster Sir. Williams (wilfredoaa) Nov 05 2010 at 18:39
One of the thing I love about Interbank Fx is their ability to receive and withdraw small funds. I mean if you are trading over 1,000 and withdraw profits above that you probably won't mind paying wire fees of $35 and above.
So if you are in the states is easy to withdraw $100 or even $5. This is good stuff if you like to withdraw small amounts of money.

They are based on Utah and they are connected through Zions Bank which does online banking well. They might even have an affiliate bank giving you the ability to withdraw from their ATM with a Zions Bank card they give you. Bottom line great reliable forex broker for small amounts of trading... plus they have nice support and nice indicators among other stuff.

Grace is the greatest thing ever!

Medlem sedan Jun 07, 2010  82 poster Sir. Williams (wilfredoaa) Nov 11 2010 at 07:38
FXCM has this new free service that I totally love.

Get free forex news and prices alerts sent to your mobile phone via text message (email to SMS).


Grace is the greatest thing ever!

Medlem sedan Dec 07, 2010  1 poster dmfz1982 Dec 08 2010 at 01:41
I've traded with IG Markets, FCXM and OANDA.

IG is a good broker, they had daily, weekly and quarterly options on fx and metals which you could use to hedge and take advantage of a news day, but since they bought NADEX they 're not offering regular OTC options but binary and some bull spreads that are not as useful.

FXCM is good but the spreads are pretty wide,and it seems that they just have too much too offer and is not very organized I like their trading station II as a platform.

OANDA good spreads but their platform needs an update ASAP.


Medlem sedan Jun 28, 2010  2 poster Andy Parx (It's Not the Real Name offcourse) (andyparx) Dec 13 2010 at 17:33 (editerad Dec 13 2010 at 17:37 )
I love Fxopen, coz their micro just started from 1 usd, and they givin 1 usd bonus, and more over this little thing, their spread in e/u is 2 pip and gold and silver spot trading also available in micro, and the micro server is too good and execution also too fast as i never slipped any pip while am trading in a rapid volatile ups and down.

Earn Pip Keep it Safe

Medlem sedan Dec 18, 2010  1 poster Ash_Met Dec 19 2010 at 18:25
Been using MB trading for over a year and my overall experience is very good. Phone support is very good and they usually try to help you out as much as possible. Spreads are very low and although they charge commission, it's also quite reasonable. Only problem I ever faced is slippage. Don't remember how much it was exactly, but I think it was around 10-15 pips or so (which can be insignificant if you trade micro/mini lots). When I tried to get them to fix the problem I was told that that's just the way it is and no action would be taken unless it was more significant. Kinda bit the bullet on that one, but it worries me a little for some of my larger position size trades.
Overall, I would still recommend MB trading, but if anyone using them has had any other issues, a head's up would be great


Medlem sedan Dec 14, 2010  3 poster Markus (ScorpioKing777) Dec 21 2010 at 01:17
I've used FxOpen, & Tadawul FX. Didn't care for either of them, poor fills, technical problems on their side oddly when I need to be managing my trades the most, broken connections, etc and just strange behaviours all around. I'm pretty sure theres something shading going on there but I never lost to much with them and moved on. I used a couple other little brokers that I can't remember, I think one was PIP Trade, more technical issues and inability to access account but they were for pennies so no big deal, live and learn. I also used FXCM Micro for awhile. I never really had to much to complain about there execution was good and all but man I hate their platform. And I really think they need a giant disclaimer explaining how their 'trailing stops' work. Especially for those of us use to MT4 trailing stops. I mean seriously it starts moving your stop as soon as the market moves your way. I lost a bunch of little trades at weird stop losses and couldn't figure out why until I noticed what was going on with them. I don't see any reason or need for a TS to work in their fashion. It needs to hold your stop as is until the market moves said number of points and then move to break even and start trailing. Like I said though their system works great if your into that type of setup and execution is good, spreads competetive.
 Now enter AvaFX, I've been using them for several months now and quite honestly its just because I really have no clue where to go next. They are not the worst broker I've used but periodically they have 'glitches' that make me wonder. At first they tried to deny me my $750 initially deposit bonus that I should have qualified for because of a promotion they had at the time. I bitched and screamed and they came around and finally gave it to me. Basically they seem to try and nickle and dime you now and then but if I yell loud enough and long enough they usually come around. I've given up the illusion of finding the 'perfect broker' because they don't exsist. So I guess for now I'm just afraid if I leave AvaFX I might end up with an even worse broker LOL

I have been testing out GO Markets with a demo account and I really do like what I see and performance seems really really good so far (thats the demo I have up on myFxBook now) I seen a lot of good reveiws at the FPA for them but digging deeper I see some strong accusations of scamming, with very good proof on hand as well. Hmmmm. I know their spreads are alot better then at Ava but some claim they widen them very much at news times as well as strange spikes that drive up/down 200-300 pips when other brokers show no such activity???
Anyone here use them for your real account?? I'd love some more feedback while I'm still making up my mind about them. Or perhaps you know of another really good broker I should check into?? Thanks in advance and have yourselves a merry christmas!

Happy Pip'n :o)

Just Pip'in ;o)

Medlem sedan Dec 23, 2010  1 poster KS Alam (ksalam28) Dec 24 2010 at 12:15
I have tried Etoro and Instaforex. None of them can satisfy me. The execution of Etoro is quite good but the main problem is their weekend trade carry system. They charge a percentage for carrying a trade. How funny.. isn't it? Sometimes the platform freezes which is really annoying to all traders.

Secondly, Instaforex claims to be a ECN broker. but from my experience I will say it is not a ECN broker. Every order takes 5-10 sec to execute. One positive part is, they provide super micro lots (min 100 units) which is good for small investors.

Now I am looking for Oanda.com. I like their demo trading station and 1unit trading. Guys please help me by providing real information about Oanda or any other broker for a small investor where i can easily maintain my money-management.

KS Alam smiley


Medlem sedan Mar 30, 2011  35 poster yahoo (goliat1980) Apr 01 2011 at 11:46


Medlem sedan Apr 11, 2011  1 poster jasontheduke Apr 12 2011 at 10:54
optionfire - My fx experience with these guys has been second to none. I use the platform as part of my trading tool kit. If I have longer dated positions in FX - Commods - stock - ETF's of indices I use this platform to hedge with short term trades. Hourly binary options trading with an fsa backed company. I soley trade news flow to not get caught up in the punty nature.

I am currently long OIL naturally who wouldnt be for the long term but on an announcement of ceasefire in Libya I short OIL on an hourly binary trade for say $500 at the top of the hour you take away $925, easier than cfd and spreadbetting as there is no spreads and risk/return is highlighted before you trade - The beauty is you cant lose more than your initial trade size.

Happy to discuss!

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Trade Balance (16 seconds)
EUR/AUD seeking Friday's low on thin mar...(10 min ago)
EURUSD 1.24346 GBPUSD 1.40489
USDJPY 106.107 USDCAD 1.25293







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