I'm amazed at all the forex brokers out there now. When I first got into trading money there weren't this many firms. Please list all the brokers you know of or have heard of. Here's my list (some taken from FXStreet): MG FINANCIAL GROUP FX SOL WESTCAPFX GFT FXDD ACM IFX MARKETS FXCM CROWN FOREX CMC MARKETS SPENCER FINANCIAL CMS FOREX MAN FINANCIAL SYNTHESIS BANK SAXO BANK GFS FOREX INTERBANK FX FOX FOREX FOREX.COM (GAIN CAPITAL GROUP) MIG GFX GROUP OANDA Many of these brokers are located in Switzerland. Thanks! Iconoclast
All?... Good luck with your quest. There are hundreds of them, with new ones probably being launched every month. Even if you narrow it down to just the shops registered with the US CFTC, you're looking at 181 at the latest count: http://cftc.gov/tm/tmfcm.htm?from=home&page=mktfcmcontent I would say you'd be much better off coming up with your personal short list of forex dealers in a bottom-up way, as opposed to top-down.
The real question is... what is the list of Forex brokers that are actually worth doing business with.
Here are the ones from the list in the US: CFOS/FX Infinity Brokerage Services ForeFront Forex Interbank FX MG Financial Group Global FX Remote Group ShieldFX SNC Investments Also Deutsche Bank - DBFX.com Iconoclast
Well, the majority of them are, 100++. Yet, as mentioned, that's just a small, US-registered subset. Guess I still don't see the point / value added of your exercise. Do you understand the (world of) difference between top-down and bottom-up, in terms of any selection process, in any human sphere?
I guess the point is, think about how many retail stock brokers there are... Ameritrade, IB... ? Anyone else? Compared to the 100 or so fx brokers. I'm just glad there are so many for new traders to select from. Keeps competition on their toes. Hopefully, more people will begin trading forex successfully. Though, I think Oanda leads the pack because they're the only one offering the smallest (1-unit) trading sizes. Most others are standard lots (100,000-units) or mini-lots (10k-units). Easy for a new traders to go bust trading such sizes unless they have a mln-dollar acct. I hope the new guys can figure out how to use the huge margin sizes available successfully before they blow up their accounts. Good luck to all, Iconoclast out.
Thanks Nickbarings The reason I put it that way is because after weeks of doing exhaustive research, I have narrowed it down to my top 3 that I will choose from. Onada nmForex MB Trading I was also surprised at how many Forex brokers wouldn't even respond to my questions as a prospective customer. Go figure Those three I listed have been very professional and informative with me so far.