Reputable Forex Broker and CFD broker?

moyes

Junior member
40 0
Please could someone recommend a forex and CFD broker that is not a bucket shop and market maker? I was thinking about using Thinkforex in Auckland, New Zealand but too many bad reviews saying that they are a bucket shop who hunt your stop losses. I would prefer a ECN or STP broker instead of a market maker. I was considering Pepperstone or Gomarkets but I am not sure how reputable they are. I will do some searching online to find out more.

Any recommendations would be greatly appreciated. Thanks.
 

redtag12

Active member
153 3
Hirose uk.Fsa regulated,Stp.Mt4 and Lion Trader platforms.Some slippage both ways.Headquaters Japan.I use them and they are ok.Good luck Mike.
 

AARasheed

Member
58 1
Hello Moyes,
For this service, you will need higher deposit amount.
There are only 4 brokers in UK (regulated too) that will give you what you require:
Capmar Financial
Sucden Financial
CFH Markets
Marex

Marex may be too expensive and all required you being professional but all will give you client-to-bank trading.
I retired from industry and can tell you all other brokers claiming be ECN are not. They use another broker/fund etc to trade against so you are not actually going to the banks (which is what they claiming).

Good luck, hope I help
 

Davidee

Member
80 2
Please could someone recommend a forex and CFD broker that is not a bucket shop and market maker? I was thinking about using Thinkforex in Auckland, New Zealand but too many bad reviews saying that they are a bucket shop who hunt your stop losses. I would prefer a ECN or STP broker instead of a market maker. I was considering Pepperstone or Gomarkets but I am not sure how reputable they are. I will do some searching online to find out more.

Any recommendations would be greatly appreciated. Thanks.


DF Markets & Deltastock are great but it you want direct market access or Forex ECN you have to use their level 2 trading module. It is the same with most brokers who offer ECN/DMA accounts, they also have the MM option so be sure that you don't go for that. The only 'advantage' to the Market Maker model is they can offer certain CFDs that the market isn't liquid enough to provide with the DMA model. Market Makers provide liquidity and in doing so (i.e. in taking the other side of their clients trades at the prices they quote) they literally make a market - I still wouldn't recommend trading with the Market Maker broker model though! There are enough instruments you can trade using CFDs under the DMA model.

The most important things when looking for a broker, in my opinion, are -

1. Where is the broker based and regulated?
2. How does the broker process order, DMA, ECN, STP, MM etc...?

Here is an article I wrote on regulated Forex brokers I hope you find it useful.
 
 
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