Recommend a broker?

Discussion in 'Forex Brokers' started by G_Jimbo, May 18, 2006.

  1. G_Jimbo


    Hi all,

    Does anyone have any recommendations for a decent forex brokers, that preferrably supports sterling accounts (or at least Euros)?

    A broker that hopefully offers a fast and reliable platform, is fair, has a good history and tight spreads.

    I have looked at IB and Oanda, but I'm not too keen on them. I was looking at GCITrading and GFXSA. What are your opinions on these?


  2. igor123


    What is it you don't like in oanda and IB?
    GCITrading is based in Belize and registered in Virgin islands.
    GFX is only around for a very short time.
    You have gone from the best to the worst.
  3. ddunbar

    ddunbar Guest


    Makes me think the thread starter is looking for a way to lose money and have a legitimate claim that it wasn't his/her fault.
  4. igor123


    :D :D :D
  5. G_Jimbo


    Mmmm... ok, one helpful reply :confused:

    GCITrading and GFXSA have a good platform (going by the demo), hence my preferrence with them.

    Other brokers such as and FXCM have a bad rep among traders here, from what I have read.

    Oanda I would consider, but they only seem to offer funding in USD, unless I have misunderstood their literature. It also reminds me of a gaming site, but their platform looks good, too.

    IB, I am not keen on their platform, but I may consider at a later date, after looking at some other brokers.
  6. igor123


    You have. I had an Euro account with oanda.
    How much do you plan to invest in this acc.?
  7. G_Jimbo


    A few thousand for tuition funds to test my strategy with 'real' funds. If everything pans out ok, I will add a further 25k.
  8. igor123


    Start with Oanda and when you'll be ready go for an ECN such as Currenex with
  9. ddunbar

    ddunbar Guest

    Just 1? Awwww...

    Like Igor said, Oanda is very good.

    But I'd recommend IB. Why? Because it is an ECN where FOREX is concerned. Meaning they simply pass your order onto a liquidity provider (big bank like UBS, DBK,CITIFX, etc, or IDEALPRO.) The Liquidity is phenominal. Instant executions. Spreads on the majors are low. And you only pay a commission of .00002 (two tenth's of a pip) per side.

    Approx $20 per 1 million.

    I use them for spot forex. And I have to tell you, they're great. A myraid of order types too which makes for great entry and exit flexibility. Stops have never been more than 2-3 pips from stop price.

    Not only that, but you can also trade Forex Futures right in the same account.
  10. igor123


    On this forum there are many negative threads about IB. I've read things like: orders being filled after cancellation, constant problems logging in, arrogant customer service and so on.
    I was considering them, but after reading what some traders have went thru changed my mind.

    For example: and espicialy this

    At least it's scary, and at most it's a potential disaster.
    #10     May 18, 2006