Recommended FX Broker ??

[s1761]

Hi

Ive been using Finspreads for FX use for 11 months and I think ready to move to dedicated broker - but frankly reading some of the views have been scary. For example I read some views on "goforex.net/forex-broker-comparison.htm" and not one broker instills any confidence. Now I dont if these reviews are genuine or just excuses from losing accounts. Many have slated finspreads - but ive been relatively successful and for a small size trader (£2-5/point) - its been a very good experience so far.

So I was wondering whether some members could point me in the right direction - considering my position and small trade size. Any replies much appreciated.

Cheers

(ps ive read the threads on this site - but many just focus on specific benefits focused for the more experienced trader)

 

[wasp]

In a perfect world...

I have now tried a number of different brokers and I personally just cannot decide which is best. None for sure stand out and none are perfect, maybe this is just the way it is...

The 2 most popular brokers on here are IB and Oanda neither of which I would personally recommend. Having tried both, the con's seem to out weigh the pros too much for me.

Personally I require...

Comprehensive charting facilities
Reliable feeds
Competitive spreads
ECN / non dealing desk
Instant execution
All currency pairs going
Spot not futures
Easy deposit and withdrawal
Secure holding of capital

Soon as I find one that fits the bill, I'll post it but for now still searching...

 

[wasp]

http://www.goforex.net/forex-broker-comparison.htm

http://www.goforex.net/forex-broker-list.htm

 

[wasp]

Anyone tried these?

http://www.efxgroup.com/

http://www.efxgroup.com/aboutUs.asp

ECN and low spreads

cable 2 pips
dkk 7 pips
nok 25 pips


Good reviews here...

http://www.forex*******s.com/efxgroup.shtml

and here...

http://www.goforex.net/reviews/efx-group.htm

 

[Trader_Herry]

IB is not good for forex.
Try Oanda. They are specialised on forex trading.

Beware - critical flaw in IB Ideal Pro
http://www.elitetrader.com/vb/showthread.php?s=&threadid=78006

 

[idetkov]

Trader_Henry,
Do you use Oanda?

 

[idetkov]

It is very inconvenient question, is not it? I am looking at the history of Trader_Henry posts on several forums. He collects his knowledge from the Internet, not from the experience. He makes his recommendations based on this "knowledge". It is obvious that Internet forums have pearls of wisdom mixed with total crap. It is not easy to separate one from another. Practical experience is the virtue. Confident recommendations based on what other people are saying on public forums are ridiculous.

 

[bluebell]

experience is not the only teacher

It is very inconvenient question, is not it? I am looking at the history of Trader_Henry posts on several forums. He collects his knowledge from the Internet, not from the experience. He makes his recommendations based on this "knowledge". It is obvious that Internet forums have pearls of wisdom mixed with total crap. It is not easy to separate one from another. Practical experience is the virtue. Confident recommendations based on what other people are saying on public forums are ridiculous.

i have learnt alot from participating and reading what has been said on forums - this forms part of my research on the forex industry as a whole, and when for example, you see common "complaints" about the same forex broker from different sources (even more so when backed up by regulators such as NFA) then this ought to be cause for concern even if you personally haven't used them.

 

[idetkov]

Yes, you can learn a lot. Your mind must always be critical to what you are learning though. This place is a battlefield of brokers fighting for your money. Many use very dirty tricks to win.