Forex Brokers... which one?

[expertadvisor1]

I don't rely on Brokers because I am using EAs for gaining a good deal of profit consistently. I am very happy to trade through these EAs

 

[rrayne20009]

I don't rely on Brokers because I am using EAs for gaining a good deal of profit consistently. I am very happy to trade through these EAs

I am newbie in forex and a friend suggested me to use Expert Advisors for it will lessen the burden of trade decision-making.I think EA's are good for newbies instead of using manual.

 

[graceb]

There are many brokers around in the market, but the main thing that whom to trust. Most of the brokers have similar services but cannot judge which a nice broker is. There are many fraud brokers too. People are saying that Oanda is a nice broker. There are few disadvantages of it like it is giving leverage of 1:50 while others are giving 1:100 or 1:200, deposit procedure time consuming, registration process is also too long, do not accept credit card deposit and the final thing customer support they have is only through chat.

Informative.Thank you.

 

[george55]

I agree that there are really lots of brokers.. and in nowdays it is too difficult to distinguish them. Almost all of them have the same services... and it is really difficult to find out who to trust... So... There are brokers which provide for example leverage of 1:1000... personally I consider trading with such high leverage very dangerous... regarding support.. surely it is important.. and live chat is not enough... I like when companies support through telephone, skype.. I think it's great to be available and open to the customers...there are too many broker.. with regulation, etc.. but, still.. how to know trust or not?? For me .. money insurance is the most important thing.. because all in all.. we deal with MONEY... so.. when I have an insurance.. I feel safer..

 

[cogs]

I see pepperstone's commission has just gone up a dollar per 1 lot.

 

[havaiana]

I see pepperstone's commission has just gone up a dollar per 1 lot.

Wow. People must actually pay it for them to charge it, beginning to think I'm in the wrong business. Anyone willing to pay at least twice the price for something than it is actually worth has no hope of succeeding in trading imo

Edit: thought i should add something constructive. Trade with LMAX or a futures broker.

 

[havaiana]

...Only the big boys are actually interbank dealing and they still wont offer those spreads to small retail clients like us....

In regards to this, the spreads aren't any better than you can get with retail, the difference is there is a lot more size on offer, more than any of us will ever need anyway. Some of the retail brokers have better spreads than the institutional brokers, the key is not the spread, but the size and the fact you are trading a real market and can earn the spread as well as cross it.

 

[mikepowers]

I've learned a lot after reading through pages of this thread.
Different brokers, trading style and strategy! just wow.
As i see what other a suggesting and promoting, i will just advice that
every traders has his own way of trading style that may suits the way of his
broker.

Which mean one's success is determine how he traders suitable with his broker.
it may not be applicable for you but only for him.
scalping is different with day trader. and should not have the same way of trading.

 

[>Apocalypto<]

I see pepperstone's commission has just gone up a dollar per 1 lot.

site still shows 3.5 a side per 100K. I haven't noticed a change in my JPY coms per side.

 

[leebelisar]

I am newbie in forex and a friend suggested me to use Expert Advisors for it will lessen the burden of trade decision-making.I think EA's are good for newbies instead of using manual.

For new traders, EA is not suggested. Per my readings, it would be better if newbie do manual trading first. EA is more recommended for those who are experienced already.

 

[PTaylor]

ICMarkets is the best broker in my opinion, besides being ASIC regulated, their spreads are second to none
and always have extremely low latency and very fast execution and very good support.

This is a good resource to find and compare brokers www . forexchurch . com/compare-forex-brokers.cfm (just remove the spaces from the link to make it works

 

[Forex21]

ICMarkets is the best broker in my opinion, besides being ASIC regulated, their spreads are second to none
and always have extremely low latency and very fast execution and very good support.

This is a good resource to find and compare brokers www . forexchurch . com/compare-forex-brokers.cfm (just remove the spaces from the link to make it works

ICMarkets is a great broker but you should know that there spreads are only so low because they for-running. But it's not a big deal. I have an account with them since 6 month and can say only good things about them. Support is fast, most of the time competent, commissions are low and execution quality is good.

 

[Wysiwyg]

ICMarkets is a great broker .... commissions are low

Low? ECN 1 standard lot = $7 round trip. Add the spread onto that too which at example 0.5 pips is $5. This is standard I believe for all ECN FX Brokers. For a market that has trillions of dollar turnover daily, it is too much.

 

[JimmyJP]

Forex Broker

Has anyone had any experience/feedback with Go markets??? Pepperstone??

 

[cogs]

Has anyone had any experience/feedback with Go markets??? Pepperstone??

I used Go some years back but changed after new ownership took over, many things changed not to the traders advantage. Haven't been back since, they may be ok now??

I have been with Pepperstone for over ~10 years now and having accounts with at least 11 other brokers in Aust, I can say Pepper have stood tall and consistantly offered good service. I would take it to the extent of hardly ever having to use their support, as it is simply not needed. I understand the market and conditions and what I am getting into tho, many who don't will often blame brokers.

I made a brief video some time back now showing live chart diff between Synergy, IC and Pepper, but it is only relative if you trade shorter time frames anyway. It sorta illustrates how wide spread in shorter frequency cycles can render trading profitable or not.
https://www.youtube.com/watch?v=mXkDh_9-sxs

 

[zenkh]

I don't rely on Brokers because I am using EAs for gaining a good deal of profit consistently. I am very happy to trade through these EAs

What....???

 

[zenkh]

Re: Forex Broker

Has anyone had any experience/feedback with Go markets??? Pepperstone??

Check out these 2 links:

http://beathespread.com/groups/prof...y-of-gomarkets-go-doesnt-want-you-to-find-out

http://www.smh.com.au/business/thre...in-of-trio-capital-losses-20100822-13aul.html

In short, take all your money and run away as far as possible from GO and VantageFX. As far as I know, Pepperstone, IC, Go, and Vantage are all bucket shops who claim to be real ECN.

Few things I realized about real ECN brokers:

• Usually offer relatively low leverage, typically 1:100 (instead of 1:500)
• Doesn't offer micro lots (0.01), minimum is usually 0.1
• High margins, average spreads (instead of ridiculously low advertised spreads)

Have a look at Dukascopy. I think they are very reliable but requires a fair amount of initial deposit, especially if you are a long term trader who holds your positions over the weekends, because of the much lower weekend leverage (1:30). They also provide MT4 Bridge platform.

I'm checking out Global Prime at the moment. So far the review on Forexpeacearmy has been quite good, but a little more research needed.

All these AFSL authorized BS don't mean much it seems.

 

[cogs]

I wouldn't have given it a second thought yesterday until my IC Markets account froze several times during the U.S. election results, Pepperstone and Easy Markets were business as usual gladly.

Anyone else report on freezing platforms or data feeds yesterday?

 

[Soim]

Hi every one,
I'm new here, I have spend the last few months researching on the internet about forex, I wanna have a go at it, I already have a couple of demo accounts, but don't know which broker to use to go with a live account, the ones I have found have bad reviews, so would be great to get some advice from some of you guys that have experience on this.
cheers.

 

[T0BY]

It depends on what you plan to trade, your style. Do you plan on just fx currency pairs or do you want CFDs on other fungible instruments? How long do you think you're likely to hold a position? Scalper? Medium term swing trader? Which platform do you want to use?