Which is honest, high quality FX Broker/Platform

I traded with CMC from 1998 till august of 2001…the date they stopped to serve US customers according to some new market regulation at that time.
When CMC opened office here in NY and after many emails and phone calls from them, I decided to give a try and open an account again. I worked with them since october till december of last year.

I don’t want to go into details of my recent experience with CMC, but stay away from them…. terrible…terrible customer service…constant re-quoting. It takes unacceptable time for internet trading to log on again, (because of software configuration) if trading platform lost connection ….etc, etc.

But, what is the most important, it took me a while and some efforts to get my money back. It gave me an impression that they are not in a good financial situation now.

So, as I said in other thread one day, CMC today could be a model for business schools: “How you shouldn’t run a business".

 

IMHO, cmc price action of forex market designs such way that trader couldn’t benefit from tight spreads they are offering, if you understand what I mean.

I would stay away from unregulated forex trading, if I would trade majors and not crosses you mentioned.

 

hi, i used FXCM for a bit, and they were ok, but my style is really scalping (3-7) pips a trade, and in order to do this i need to use the currency futures on globex. the spreads can be as small as 1 pip on globex. what type of trading are you looking to do?

 

Hi Adler, which one (after CMC) you are currently using now?

 

After CMC at 2001 I moved my trading account to SAXO BANK. At that time I also had fx account with Lind-Waldock. Then Lind-Waldock moved all their FX accounts to REFCO FX Online ..... do not confused with refcofx.com.

REFCO FX Online uses FX-Webtrader platform like FXALL or
USB Warburg .

 

Thanks Adler for the info. I might later have time to check them out.

BTW, I would presume that nearly all FX platforms for retail traders are basically market markers (with their proprietary market-making algorithms and any platform could also add or turn on some new algorithms anytime for improving profitability purpose.).

It would be very hard to have the required time (even if there is no honeymoon for new traders) and energy (and money) to actually trade and evaluate all of them one by one in order to practically find out which one would be the best platform.

Just 2 cents!

 

www.hotspotfx.com is an ecn, what you see is what you get, no requoting.

 

Have you used hotspotfx?

What are the ecn fees?

Any problems with trading through your stops?

How consistent is their liquidity since I assume they are only matching their own customers' orders?

Thanks to anyone with this or additional info!!!

 

I haven't used it but would if I want to trade other pairs than $/euro which I do with futures.

 

I checked deeply with hotspotFX now.

I am a little bit disappointed.
The reason is, that there is still a 3pip spread (EUR), very rarely less, on top of the commissions.

The chance of getting hit when posting inside bids/offers is rather low.

They should urgently get more liq. providers, like in the FX futures.

Or can please IB step up with a FX solution ?