Who is the best currency dealer? These are the ones I have investigated... FXCM Gain MG FX Solutions GFT So far I like FXCM the best, seem to have the best customer service of the above five, also seem to be the biggest. Thanks in advance for your opinions.
with GAIN you pay no commission and your acct is insured fxcm might be bigger in size ... the others I do not know much about I almost opened an acct with gain and have met their principals at trade shows they are highly regarded.
FXCM: "...average monthly trading volume that exceeds $20 billion." GAIN: "...trade volume that soared to $32 billion in October," As a AlaronFX customer I used both platforms, personally like GAIN better. They have since switched to FXCM's platforms.
Gain Capital is by far the best player in thus business hands down. The company is big tme solid and run by real wall street execs. It's going to be the major player in this field for years and years to come. I've done a lot of research-Gain is by far teh best. I have paper trader on theri platform and it is unreal. Get in touch with me on here via a PM if I can help you further.
you may want to investigate: CMC Oanda Personally I use Oanda because the no-minimums give me good flexibility for scaling in/out. No problems with them so far but only used for a couple of months. Q1
I've traded with GAIN, MG, & FXCM and CMS. By far CMS has been the best for spread, leverage, paying interest, and no re-quoting. MG & FXCM are classic re-quoters. Try to enter in fast market conditions and I guarantee you will be re-quoted at a price other than what their system is publishing. It happens everyday and many times 3-4 pips or worse! With GAIN I only have this problem about 1 out of 10 trades. I like GAIN and have used them for about a year but I have experienced too many trades were they've come off the bid taking out my stop only to return to the bid. In addition, not that I typically trade during the Asian session but I was last Wednesday night and watched GAIN post 6-7 PIP spreads in the Dollar/Swissy & Pound/Dollar. Now I understand it was thin market conditions but CMS was firm at 3 pips in the majors. I like CMS's trading platform over the others also.
Nico: I looked at their site but I didn't demo their system. Their web site doesn't publish spread or leverage info and I didn't contact so I really can't give you an opinion. Their Swiss so an attraction would be a USD/CHF spread less than 3-4 PIPs. You don't usually find tighter spreads in the Swissy for the retail client do to liquidity/debt of market. Good luck.
fx dealing scene for the small spec is lind w. this long time discount futures broker is entering the competition and seems competitive with the better fx brokers out there