Forex Spot Broker Reviews

[tommog]

Hi everyone,

Please can you let me know what you consider to be the forex broker in terms of trading the cash market (as opposed to futures). Oanda seems to be pretty popular but they appear to only offer 50:1 leverage, ideally i would like 100:1

A broker that is GBP account friendly would also be a great help. By this i mean making GBP funds transfers as simple as possible. Some of the foreign (outside UK) based comapnies dont allow GBP accounts and if they do dont offer online debit/credit.

Thank you in advance for your time and opinions

 

[philhackett]

[email protected]
Wes Newman will arrange a trial with GFT. It suits me well and provides all that you need to trade, FREE.

 

[Deba]

Yes the GFT platform is very good, and wes is a great help. I'm just waiting until they have GBP currency accounts available which i have been told is arriving shortly, only USD or EUR account at the moment.

 

[s-a]

tommog,

I really like hotspotFX for the following reasons:

- Not counter party, they have no trading desk
- Always pay interest on positive interest diffs
- Allow you to trade between the spread (often get 1 pip spread on pairs like aud/usd, the less active ones)
- No requotes
- They are an ECN
- A limited view of market depth
- Market news International for FREE with the client
- Above all, I value their integrity and honesty. The guy who runs the joint has traded FX for large banks for most of his working life.

50:1 margin though which you said you wheren't keen on. Personally I don't care much about that and it is more about the features I mentioned above that I am looking for. No sense having 100:1 margin with crooks IMHO.

HG

 

[jonb57]

Check out MB Trading. They have been quite good for me for spot fx. The rollover rates are very high though, but if you're a short-term trader it shouldn't matter too much. If you use then, I suggest using a charts program that uses MB Trading's FX feed for the best accuracy.

 

[G&C]

I'd recommend [email protected] as an ideal person to contact. FXCM offer up to 200:1 leverage and sterling segregated accounts. Very helpful chap.

 

[jonb57]

I highly recommend NOT using FXCM, they are one of the worst bucket shops out there. They have been know to reverse clients profitable trades from time-to-time, even in the demo. They also trade against their clients and have a very bad reputation.

FXCM | fxcm.com reviews and ratings by Forex Peace Army

You can also look them up on the NFA site and see that they have several past and pending actions against them BASIC Details

 

[neil]

Look at GFT forex or InterbankFX - they cater for mini forex trades (IB for micro trades)?

 

[teltone]

GFT take money out of your account if you don't trade for a certain period of time. This was never mentioned to me when I was asked to make a deposit and start trading. Unfortunately I went into hospital and found that my account had been reduced. They offer to reimburse me when I made my first trade, which I have not yet done as I have had to catch up with a lot of other things, and found that they have now taken another sum out of my account. I thought that they make their profits on the spread. Caveat emptor!

 

[SvenFoster]

WTF!! thats just wrong. Its one thing to "suspend" due to trading inactivity until you send proof of ownership but "borrowing" it is wrong. No GFT for me.ever

 

[wackypete2]

I thought that they make their profits on the spread.

75% from spread, and apparently another 25% from your account. By the looks of it if you keep your account open longer these percentages will reverse.

Caveat emptor!

Indeed


Peter