Best FOREX Broker

[jammixmaster]

:?oes anyone know of a good FOREX broker? I'm looking for a non-dealing desk, low pip spread (.05 to 5 pips) with a good, easy to use platform. Also, I don't have thousands of dollars to dump into an account so I'd like a broker with mini and/or nano accounts ($100 or less required to open an account). I'd prefer those who have used multiple brokers in the past to respond, as they would have the answer that I seek. Thanks in advance.

 

[Rossini]

fxcm micro

 

[jammixmaster]

Actually FXCM is the broker i use now. I am not happy with them at all. After a few weeks of live trading I was unable to log into my live account. To this day, I still cannot log in. And I saved my username and password in a folder in my email so I just copy & paste them (that way I don't make any typos) and I still can't log in. So what would be the obvious thing to do? Contact FXCM right? So I send them an email, and here we are 2 months later and I still have no reply, so I sent three more (about 2 weeks ago) and still no reply. So i'm locked out of my account and no one is helping me. That's horrible customer service and I am not happy with FXCM at all.

 

[Pippy5000]

Actually the micro accounts do have a dealing desk Also, you don't get customer service with a micro account. You need a $2,000 minimum deposit account with FXCM because they're the only reputable broker in the US that has "no dealing desk", not that a dealing desk much matters.

 

[jammixmaster]

Dealing desks don't matter much? Are you serious? If you have an account with a broker with a dealing desk then rather than getting prices straight from the Interbank and quoting them to you they create their own prices (high spreads). Also, a broker with a dealing desk can take a position against its traders, thus potentially ending with the trader losing money (unless the trader has millions of dollars to match the broker's position). How is this not a big deal?

 

[Pippy5000]

Because the broker couldn't care less about your tiny position.. It isn't their money you are taking on a winning trade. They get paid regardless via the spread. Believe it or not the brokers don't employ highly-paid traders to wait around all day waiting for the opportunity to knock you out of your insignificant position. The "no dealing desk" offer from FXCM is just a marketing tool to draw in newish traders who honestly believe they lost their money because the broker is out to get them.

 

[everyonerich]

MB Trading

 

[Rossini]

Dealing desks don't matter much? Are you serious? If you have an account with a broker with a dealing desk then rather than getting prices straight from the Interbank and quoting them to you they create their own prices (high spreads). Also, a broker with a dealing desk can take a position against its traders, thus potentially ending with the trader losing money (unless the trader has millions of dollars to match the broker's position). How is this not a big deal?

Why do you expect to get interbank spreads etc when you are trading 10c per pip? A broker taking the other side of your trade does not affect your position in any way. Get over it.

 

[moe]

try, ibfx.com / interbankfx

 

[jammixmaster]

Why do you expect to get interbank spreads etc when you are trading 10c per pip? A broker taking the other side of your trade does not affect your position in any way. Get over it.

Get over it? Get over what? I was asking a question, a simple question. In order for someone to get over something, they first have be bitching and moaning about it. I did not post multiple replies complaining about dealing desks, just one. So tell me again.......what is there to get over?

 

[jeffsmith]

hello friend
As there are so many brokers so it is hard to conclude about the best Forex broker as each broker has some good as well as bad features. All you need to do to try demo accounts of some leading brokers and find the one which fulfill your needs. You just need to select one of them but if you are a beginner I suggest to go with some demo accounts of different brokers to have some experience and compare their features and services and then finally decide by yourself about the best forex broker.

 

[balistarius]

I have been using FXCM from last few years I am happy with their service. I am also using Oanda which is fine as well, slightly higher spreads than FXCM, but one click trading executes the quoted price unlike FXCM. I have heard lot about IB for their lower spreads and reputation, will give them a go as well.
(by the way, i have an active trader account with FXCM with very low spreads, but you need to fund your account with 25K USD to get it.)

 

[c_c405]

ACM - Give'em a try - I did I'm happy so far

I opened an acm account in December and so far I'm impressed and happy with them

 

[jammixmaster]

The other problem I have with FXCM is that all of my mechanical trading strategies require the MT4 trading platform. So even if I went back to FXCM, I would have to keep a demo account with an MT4 broker so I can use the strategy on the MT4 platform but then put it to use on the FXCM Trader Station.

 

[collins]

You can try Kerford Investments. They give tight spreads with MT4 platform and also mini accounts. Even I am trading with them and they are good.