Recent content by fxgermany

I've been trading with FinFX for almost four years now, no issues at all. They still accept US clients and with available commission discounts you can reduce commission to 5.25 USD per round-turn lot.

The simple fact that Yadix pays out almost the same insane commission rates as Hotforex to their IBs (Yadix almost 70% of the spread, Hotforex 75% of the spread/commission) and the long list of promotions is enough reason for me to stay away from that broker. Not even worth the time to check...

Every martingale strategy will fail sooner or later. If you are lucky you might get in, withdraw your initial deposit after a few weeks/months and enjoy the free ride for some time, but if you are unlucky the first batch might just wipe out your account.

If for example the gold price is $1,350.00 then the position value at open will be 0.01 lots * 100 oz * $1,350.00 = $1,350.00. With a leverage of 1:10 the initial margin will be $1,350.00 / 10 = $135.00. Assuming that a margin call is triggered at a margin level of 20% (depends on the broker)...

IC Markets trading conditions are good, but the support can be a bit slow every now and then - sometimes they reply within a few minutes and then again it takes a whole day. However, all in all they are a good broker.

I actually wanted to use FXdirekt as an example of regulation gone wrong and to some extend I still think this is the case because German BaFin waited way to long to close them down. However, I stopped following this case when they finally did in December 2012, but it seems BaFin picked up...

Maybe I only liked steps two and three? :) But seriously, I think your due diligence walkthrough is a great start for someone who is new to forex and trying to pick one broker from the few hundred (?) available. However, I've been trading for a few years now so I take the freedom to trade with...

I think regulation is overrated. If, for example, Armada Markets and IC Markets go down I wouldn't expect to get a single cent of my deposit back from any of them, whether IC Markets is ASIC regulated or not. This might be different in case the client lives in the same country as the regulation...

I've been with them for a little bit more than a year now. So far I've only made internal transfers between my accounts, but no withdrawals. Right now, the only disadvantage I can see is the lack of regulation.

IC Markets comes to mind, they have a low spread on XAU/USD compared to other brokers. FinFX has a higher spread, but they don't charge swap fees on gold. I've also traded gold with Alpari (UK) in the past. In general, most good brokers will do, because gold is just another "currency pair".

I've heard complaints from others that the spreads on exotics (in this case USDNOK, USDTRY, USDPLN, EURNOK, EURTRY and EURPLN) have occasionally been much wider than usual. To my knowledge Armada is aware of this and promised to fix it.

Well, I can't say anything about sales restrictions or regulation in Australia. As far as payment gateways are concerned, since RegNow blacklisted forex related products I'd go with Avangate or maybe click2sell. They will handle the whole payment process and also collect sales tax when...

I have a few trading accounts with them. Spread and execution is usually quite good and they have one of the lowest commissions I've seen so far. However, they had some issues with the spreads on the more exotic pairs lately, but I hope they can fix it.

I agree that there are IBs that offer better rebates than Cashbackforex, but you will hardly find one provider who has the best offer for every broker. With each new provider there is a risk that they don't pay so I'll stick with providers I know (which are Cashbackforex and The Aslan Group) or...

Well, where do I start? My main brokers are FinFX and Alpari UK, followed by IC Markets and Armada Markets, followed by Pepperstone, TradeFort and IBFX. I also have managed accounts with FXPIG, FinFX and Synergy FX. I have withdrawn more than my initial deposit from FinFX and about my initial...