who is your favorite FX broker??

Discussion in 'Forex Brokers' started by cashclay, Jul 8, 2016.

  1. cashclay

    cashclay

    How much commission do they charge? How is the platform? Whats the spread on the currencies like? Thanks
     
  2. TradeCat

    TradeCat

    Favorite FX broker?! Oh you mean favorite casino! Cool got it.
     
    gunrobert likes this.
  3. wjk

    wjk

    I trade with Oanda. I'm very happy with them. I trade only EURUSD, and usually the spread is between 1.2 - 1.6 pips, give or take, but can be up to 10 pips during ECB or FED events and other data releases, and was as high as 20 pips during BREXIT (maybe higher...I wasn't in front of my computer for the first several hours after the event). I can't comment on other pairs. Oanda offers basic charting, but I mostly use Tradestation charting. I keep one chart up from Oanda, and it's OK.

    I previously had an additional FX account with Tradestation, but Oanda bought their FX division some months ago. I was able to keep my free access to TS FX charting because that account migrated to Oanda (I believe that was part of the deal). If I were to close the account that migrated from TS, I would lose that access, or so it was explained to me. The TS feed is now provided by Oanda since the acquisition, allowing former TS clients who decided to keep their accounts open at Oanda continued access to the TS platform.
     
    Last edited: Jul 8, 2016
  4. cashclay

    cashclay

    Hey are you an american cuz they wont let americans open an account from what i hear
     
  5. wjk

    wjk

    I am American, and have no issues. I've been with them for several years.
     
  6. cashclay

    cashclay

    really? cuz i tried opening an account but was denied. I currently am not residing in America. perhaps that was the reason
     
  7. TradeCat

    TradeCat

    Financial institutions don't like opening accounts for overseas Americans. It has to do with expatriate Americans not paying taxes to the IRS like they're supposed to and in turn the IRS can punish these financial institutions by blocking their business interests in the US.
    Hey Americans who don't want to live in the US. Either change your passport or pay your taxes.
     
    lovethetrade likes this.
  8. Turveyd

    Turveyd

    FXCM are perfectly good and great to be fair, mainly trade DAX 1pt spread Zero Comm's, EJ 1.8pips in and out most of the time, 1.4 lowest realistic pair, going upto 3+.
     
    Jason Rogers likes this.
  9. Turveyd

    Turveyd

    No America doesn't want it's peoples losses going out of there country, so FX classed as Gambling can only trade / lose money using a USA account, that was all losses just circulate within the USA, rather than being moved to another country.

    They did the same with Online Poker playing to stop the Brits waking at 3am, playing some pissed up total fool with wayyyy more money than sense, who might aswell just give there money away literally. Quite a few people all of the world where exploiting and making a LOT of money from this.
     
  10. Xela

    Xela


    Surprising, then, that no other brokerage has ever had such a long, consistent, international and recidivistic history of multiple adverse rulings and multiple fines in the millions by several regulators, arising directly over the ways in which they've persistently treated their clients?

    It seems to me that from the forum conversation perspective, "Which brokers wouldn't you touch with a barge-pole?" is arguably a more significant and a more widely helpful topic than "Who is your favorite broker?", and for the reason mentioned above, FXCM is right at the top of my list.
     
    #10     Jul 10, 2016
    MACD, noahark and murray t turtle like this.