Day Trading & Forex Forum

Trader333

Not surprisingly I see EFX got the highest rating but I also see that CMC were highly rated.


Paul

oilfxpro

Hi new traders

before opening a broker do some googling and spot the obvious scam forex brokers

scam forex broker fxopen - Google Search

scam forex brokers - Google Search

OILFXPRO

wilkelec

Well this is clearly where the government's need to step in and have a trade association that brokers need to be approved by. Then a page that links them up. I just had a great idea. I will start one and get the government to back it with grants. I will call it N.T.A THE NATIONAL TRADE ASSOCIATION. Charge the brokers a yearly fee and i'll never need to trade again. LOL

wilkelec

I dont see the point in brokers trading against your positions. Point being they make money from just letting you play the game. If they trade you out of the game they have no income. Makes no sense to me that the bucket shop approach would be used. I could see them using a collection of clients data i.e 50 people all want a BUY on something so they pool together all 50's money and pay the individuals the sum of profit or loss associated with the individual lot. But again I see this as a big risk for them to take if they get it wrong with leveraged accounts. If I go to the races and a horse wins or does not win the track owner always gets paid. The only thing you need to watch out for is brokers that are not brokers looking to steal your money. You will do a good enough job of giving a genuine broker money anyway.

martin19842

hi there

anyone got any experience of fxcm please ?

thinking about opeing mini account with them

regards

martin

vvv

Yep. Place a market order (during one of the two major sessions - so liquidity is there) and the spread mysteriously widens then closes again up again that very second you place your order so that 1 pip spread just went to 3 (which never happened before) and then add the high commission. Basically a 5 pip spread now, not acceptable.

This is unfortunate but it seems EFX (now owned by MB Trading) is now playing those familiar brokerage games.

This is a sad day indeed.

Just my opinion and thus you can take it for what's its worth. PIPs!

pippin4life

Hey there,

I am using Hotspot FX. Tight spreads! $3 dollar commissions on 1 standard lot. Or $6 round-trip. I have had no problems with them. Their customer service is also quite good, and quick.

However, their charts suck!!! I just use them for trade execution. They have an api that you can set up with Tradestation.

Cheers

Kidfx

This is my first post...who else has api that I don't have to pay for?