What is your dream Forex Broker?

[Joho]

My dream is always win in any trades and the profit + fund could be withdrawable.

i think it is dream of each trader

 

[Joho]

utmarkets

what is it?

 

[Palachinko]

For me the above should be a standard. As a broker they should defiantly be regulated. Offer competitive spreads, reliable execution, offer the instruments you want to trade and be able to withdrawal money easily.

I don't go to bed dreaming of my broker but I what I do value most is being able to contact him at any moment.

I have a futures account and sometimes I do need to contact him. If I am in a trade or looking to get and I lose internet, platform freezes, power cut, computer shuts etc I will ring him up and he will execute, close or amend any trade for me.

He always answers the phone and responds to my non urgent queries via email promptly.

- Negative account balance protection
- Provides MT4 access as well as a decent web platform. Most brokers require you to select either the metatrader option or the web trading option. I don't see why it's not possible to link up both.
http://www.forexuk.org/
- Accurate price quotes
- ECN broker
- Offers guranteed stops
- Provide range of equities, commodities, indicies and forex
- Tight spreads / low commissions
- Allows hedge with the same margin
- No broker hedging against client positions
- Positive trader reviews
- FCA regulated broker
- Good customer service
- Quick trade execution
- No requotes
- Minimal slippage but when there is they pass on both negative and positive slippage
- Pays out interest to client with funds held in the brokers account
- Enhanced client money protection (because the standard £50k insurance is not enough in my opinion)
- No fees on deposits and withdrawals

I have not found a broker which ticks all of these boxes. LMAX ticks a decent amount of these but falls short on client protection.

When you find such broker - give me a call.

 

[jamesuk]

In no certain order, the most important things for me are: 1.) spreads; 2.) no slippage; and 3.) regulation. Years in operation can be a proxy for regulation, although you would ideally want a broker who has been around and works under multiple regulatory bodies.

That being said, unfortunately there are no dream brokers. I always look for a broker with the best mix of the above, and have really taken a liking to Forex.com and Iron FX of late.

I agree there are no dream brokers unfortunately and lately we read a lot of very bad comments and reviews for a lot of brokers, actually I can agree with you for Iron FX, I am now trading with them for the last couple of months and I can say so far everything runs ok and they are FCA regulated - important to trust a broker. I traded also with forex.com, still have a real account, but some people say bad comments about them.

 

[ijak]

In no certain order, the most important things for me are: 1.) spreads; 2.) no slippage; and 3.) regulation. Years in operation can be a proxy for regulation, although you would ideally want a broker who has been around and works under multiple regulatory bodies.

That being said, unfortunately there are no dream brokers. I always look for a broker with the best mix of the above, and have really taken a liking to Forex.com and Iron FX of late.

i r o n f x are you kiding?
i heard bad thing about them. pending withdrawal for example.
to be honest, even they have multiple regulations, many offshore brokers like Tickmill or even the another Cysec brokers, Vipromarkets, have better performance than this i r o n
now they are going down .

 

[forker]

You forgot to mention leverage. You don't want to be trading with stupid levels of leverage. The first thing I look for in a broker is the ability to adjust leverage and to have options of 10/1 and lower

 

[jamesuk]

i r o n f x are you kiding?
i heard bad thing about them. pending withdrawal for example.
to be honest, even they have multiple regulations, many offshore brokers like Tickmill or even the another Cysec brokers, Vipromarkets, have better performance than this i r o n
now they are going down .

@ijak I read bad comments as well, and at first I was skeptic about trading with Iron FX but because they are very regulated I tried and fortunately I don't have any of these withdrawals problems. I want to be very carefull with my money I don't want to trade with very new brokers - I prefer to trade with brokers with a lot years in the business and of course FCA regulated

 

[Sophie Jane]

- Negative account balance protection
- Provides MT4 access as well as a decent web platform. Most brokers require you to select either the metatrader option or the web trading option. I don't see why it's not possible to link up both.
- Accurate price quotes
- ECN broker
- Offers guranteed stops
- Provide range of equities, commodities, indicies and forex
- Tight spreads / low commissions
- Allows hedge with the same margin
- No broker hedging against client positions
- Positive trader reviews
- FCA regulated broker
- Good customer service
- Quick trade execution
- No requotes
- Minimal slippage but when there is they pass on both negative and positive slippage
- Pays out interest to client with funds held in the brokers account
- Enhanced client money protection (because the standard £50k insurance is not enough in my opinion)
- No fees on deposits and withdrawals

I have not found a broker which ticks all of these boxes. LMAX ticks a decent amount of these but falls short on client protection.

have you found your dream broker? I don't think there will be any broker like that

 

[remme001]

have you found your dream broker? I don't think there will be any broker like that

I think you have to compromise and identify whats important for yourself. At the time I was mainly looking for a broker to day trade on however I've shifted to trading much longer timeframes so a lot of whats mentioned there doesn't matter as much. I'm currently with Ayondo using their TradeHub account (not social trading which is their main thing). They have a couple of key features which I think definitely appeal more to those trading longer time frames like:

Adjustable margin
You only get charged rollover fees on the amount you actually borrow, so if I set a margin of 30% I pay fees on the remaining 70%. You can set the margin to 100% and not pay any rollover fees and hold the position for as long as you like.

Dividend payout
100% dividend payout on UK stocks on foreign stocks it's 85% I believe. I normally adjust the margin according to the dividend payout % plus the stocks volatility so that I can utilise leverage at no real cost.

Client protection
FCA regulated with FSCS protection plus client money protection up to £500k as well as negative balance protection. Guaranteed stops are also provided on certain instruments and come with no additional cost.

Other things worth mentioning is that their platform is clear about displaying notional trade values to you. I think this is good as you don't get potentially caught out miscalculating incorrect trade sizes therefore overleveraging yourself and getting into trouble.

As for things like spread and execution they are good, the minimum margin requirements on stocks are competitive although I think they could go lower on foreign stocks.

I would like to see them go a little further and pay out interest on unallocated client money. I believe xtb does this.

 

[progix]

When you find such broker - give me a call.

Doesn't that seems too hard finding any broker with such requirements...!!

 

[Xavier50]

The best broker is the one that has tight spreads, as tight as possible, that offers quick deposit and withdrawal and has a regulation. security is above everything!

 

[Aiman]

0 spread 0 commission 0 slippage instant deposit withdrawal we can dream

 

[gerryg]

I want only instant execution and instant payouts.These are two simple requirements and you can be extremely profitable trading on news.
For now I scalp with Нotforex it is good broker with decent client treatment but I wish they had instant execution with fixed spreads..

 

[NVP]

0 spread 0 commission 0 slippage instant deposit withdrawal we can dream

would you want to run a business with those margins ?

N

 

[gerryg]

would you want to run a business with those margins ?

N

Well only like a bucketshop which trades and only WINS against traders

 

[progix]

I guess most of these brokers winning against traders only last for some time and then turn into history like we had examples of falling brokers in the past.

 

[gerryg]

I guess most of these brokers winning against traders only last for some time and then turn into history like we had examples of falling brokers in the past.

Yeah this type of grab-and-run business is not intended to work for a long time but they do appear too frequently - same owner but different names, same stuffing.

 

[BigJayJay]

ECN brokers are generally pretty good now days and commissions are so low. What more do you guys want! I'd say that is almost perfect

 

[gerryg]

ECN brokers are generally pretty good now days and commissions are so low. What more do you guys want! I'd say that is almost perfect

Retail trading is far from perfect when it comes to profitable trading. But for gamblers it is really a new level of pleasure I guess

 

[Phylo]

Spreads

- https://tradeproofer.com/awards/broker/spread/2015/eurusd