There are nearly 10 forex capable brokers to choose from. The only one Im familiar with is FXCM. If you have any reasons why you think a particular one stands out as better please let us know. Likewise, if you have had a bad experience. Also if you know of any unbiased broker review sites, that would also be helpful.
While its easy enough to compare spreads, leverage etc. Only hands on experience will tell you what a broker is really like. Eg. do the spreads blow out absurdly when volatility is up or is getting money out of your account like pulling teeth.
FXCM is a continue scam for Refco, They claim not to have any realtion with them, But they are lying, They used to claim that they are related to Refco to istablish client trust. Before Refco shut down.
If you scalp the Market with them they might shut down your accout, aslo they would ussually try to pull your stops to get hit so that they can kick you out of your trade.
Just stay away from them, My two cents :).
I recommend Man Financial Canada Co. And Fxsolution.
Also try to always save your time with any US broker by cheken if they are registered with the CFTC.
Thanks for that interesting info. Do have personal experience FXCM or your reporting what others have said?
Zsolt, I have good experiences with Interactive Brokers and EFX. I have also been with Gain, Oanda and FXCM. The latter 3 get a lot of mixed reviews, but I’ve never had any problems. The problem with many of the comments on these brokers (including the comments made in this thread), is they never involve a direct 1:1 comparison with another broker on a specific case. E.g to convince me that FXCM is running stops, I’d want to see a bunch of identical stops that were stopped out by FXCM and at the same time were not stopped out by another broker.
I Never had an account with FXCM.
We have opened an investigation thread in a forex Forum on FXCM.
The Forum it self stopped dealing with FXCM through introducing-broker program and have asked people there to stop dealing with them AFTER showing real live trades taken on FXCM, Showing screenshots on live trades, then show the trading statment and compare to Market prices through charts.
FXCM will jump after Refco soon.
I Now deal with Fxsolution and Oanda.
More than 80% off Forex brokers are nothing but a scam.
Since most people lose in Forex Market. Brokers rather giving you a bogus account, Hoping that you wont be making money out of it. TThis way they profit big time.
Take migfx.com as an example, they claim to be baised in Swiss to earn client trust, but They Are Not in swiss. That kind of dishonesty Might lead to getting bogus accounts, intead of live ones.
Also you should not consider trading with a broker that doesnt have his own trading station. Migfx makes you deal through Interbank.
I dont want to scare you, but this is unfortunately the reality.
80%+ Are here to scam you.
Norman,
You criticize FXCM and praise Man Financial Canada, yet MAN Fx Canada white-labels FXCM technology. Is MAN a scam too?
The gentleman starting the thread asked for real experiences, please refrain from posting false rumors.
Francis
Sorry, But why would I be hanging out Posting False rumors?
FXCM is a USA law based.
Man Financial is Canadian Law based.
Even Refco when it shut down in the USA, nothing happened to the one in Canada since Canadian Laws are so strict and protective that they wont allow such scams to go through easy.
FXCM is just a Refco branch, And I am Amazed How could it be open till now.
FXCM=Refco (Same)
>Sorry, But why would I be hanging out Posting False rumors?
Let me take a guess. Maybe they shut your account down at FXCM because you were scalping?
>Even Refco when it shut down in the USA, nothing happened to the one in Canada since Canadian Laws are so strict and protective that they wont allow such scams to go through easy.
I find that hard to believe. More probably, they did not try to scam through their Canadian entity…
>FXCM is just a Refco branch, And I am Amazed How could it be open till now. FXCM=Refco (Same)
As I understand, FXCM just partnered with Refco to handle the ‘options on forex’ accounts. They are not the same.
Yes, they did even have the same employees!
Do a bit more research and you will see what am talking about.
I never opened an account with them…
But why would you be so protective about them? Why you replyed so fast without researching on what I am talking about?
Maybe you work with them?
>Yes, they did even have the same employees!
That is not unusual. There are people who work for multiple employers…
>But why would you be so protective about them?
I’m not being protective. I happen to know that FXCM is a good broker as I trade through them (for the past several years). I also know that Man Financial is as good a futures broker as you can get.
Why you replyed so fast without researching on what I am talking about?
There is nothing to research on except those based on my first hand experience.
>Maybe you work with them?
Sincerely, no.
