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Author Topic: The endless journey of finding a good broker!  (Read 2824 times)

Offline AbirKhan

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The endless journey of finding a good broker!
« on: September 01, 2013, 10:19:47 AM »
Hello everyone,

I am new to this community, in fact its my first post. I found this forum on my endless journey of finding a good broker. Why its so hard to find a simply suitable good broker !

I started my trading career with bucket shops like Instaforex and FSB. Then traded with Roboforex for a while. Although they were very good and honest, I wasn't quite satisfied with their MT5 ecn accounts. In search for a MT4 ecn, I found Fxprimus. Based on some very positive reviews and very convincing live support, I started trading with them and still with them for around 3 years.

Fxprimus has good and competitive spread, didn't have much problem with execution either. But their commission is skyhigh (10$ roundtrip), I happily paid that as a cost for their service, honesty, reliability and remarkable support. Sadly their support turned into a remarkable disaster. No matter what you ask on live support you get one answer "Live support has limited access on this matter, please send an email to I_am_too_busy@fxprimus.com" ! Yes of-course its a miracle if you get a reply back from their email support. My last withdrawal took almost 72 hours when its supposed to be processed in less than 24. Live chat wouldn't give a "S", I wrote several emails to their withdrawal department and to my so called personal manager, no reply even after 48 hours at working days. I called their office at Mauritius and even they said they can't do anything about it, I must contact withdrawal department by email ! Beat that. 

Yes they finally processed my withdraw, after debiting the balance and crediting it back to my MT4 then debiting it again (so amateur!). No response from their withdrawal department or my beloved personal manager yet, I don't think I'll get one ever. I don't question their honesty yet but their support and communication is now nothing but a nightmare. And I don't take it kindly when my broker tinker with my money and can't or not willing to give a proper explanation. Fxprimus used to be good, but I think its time to say them goodbye and run away with my money while I still can. So here I am ... still looking for a broker  :'(

I just wish for simple things, tell me if I am asking too much.

01. Good regulation and money security
02. ECN feed and execution with no intervention (I hope for good spread as I am willing to pay a commission)
03. Good support, honest, reliable
04. Accounts opening below 2000$
05. Commission less than 10$ roundtrip
06. MT4 or cTrader
07. Accept Credit card or Skrill and send withdrawals back to them (not bank wire)
08. Leverage is not so important, as long as I can open maximum 1 standard lot I am happy

Thats it! Now can you guys help me ending my "find a broker" journey? Or I am asking too much here? God bless us all !

Cheers.     

Offline nwboater

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Re: The endless journey of finding a good broker!
« Reply #1 on: September 01, 2013, 02:28:49 PM »
Have you checked out Global Prime and AxiTrader. I use both and am very pleased so far. They should meet most if not all of your requirements.

Good luck.

Cheers,
Rod

Offline bismillahwd

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Re: The endless journey of finding a good broker!
« Reply #2 on: September 01, 2013, 02:43:33 PM »
No broker as Best brokers,
Same here im started forex in insta, then ibfx.

Finally after my journey, current that satisfied me and you could ask others here would recomend
ICMarket
Axitrader
LMAX ( not yet trying, but soon )
Pepperstone
GlobalPrime ( but still too young )

Those four is the best current period IMHO

Anw, most of them was australian. Why is that :D


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Sorry for any typo
« Last Edit: September 01, 2013, 02:45:44 PM by bismillahwd »

Offline AbirKhan

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Re: The endless journey of finding a good broker!
« Reply #3 on: September 01, 2013, 03:15:37 PM »
Have you checked out Global Prime and AxiTrader. I use both and am very pleased so far. They should meet most if not all of your requirements.

Good luck.

Cheers,
Rod

Thank you for your reply. Yes I checked them out already. Axi pro accounts or cTrader wont allow 0.0x lots, it could be a drawback for my trading style. I am not sure if Global prime would be suitable fore me, as long I've seen AU brokers send any withdrawal by bank wire transfer (sometimes except the original amount) due to some ASIC regulations. Bank wires are costly and I would like to get my withdrawals back to my credit card or skrill account. 

Offline AbirKhan

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Re: The endless journey of finding a good broker!
« Reply #4 on: September 01, 2013, 03:21:47 PM »
No broker as Best brokers,
Same here im started forex in insta, then ibfx.

Finally after my journey, current that satisfied me and you could ask others here would recomend
ICMarket
Axitrader
LMAX ( not yet trying, but soon )
Pepperstone
GlobalPrime ( but still too young )

Those four is the best current period IMHO

Anw, most of them was australian. Why is that :D


Sent from my iPad using Tapatalk HD
Sorry for any typo

Same question here too .. why is that? :) Unfortunately none of them is going to suit me !

ICMarket: Only withdrawals by bank wire
Axitrader: No micro (0.0x) lots at pro accounts
LMAX: Very high (10K) account opening requirment
Pepperstone: Only withdrawals by bank wire
GlobalPrime: Only withdrawals by bank wire / low leverage

I have my eye on Armada markets. My biggest concern is their regulation and the regular complain about them, spread widening / spikes. Could anyone with Armada comment on this?

I don't use EA. I trade manually .. 2-3 positions each day. So execution is not my best concern, but spread spike could seriously damage me for the way I trade.

TradeNow

  • Guest
Re: The endless journey of finding a good broker!
« Reply #5 on: September 01, 2013, 04:19:48 PM »
No broker as Best brokers,
Same here im started forex in insta, then ibfx.

Finally after my journey, current that satisfied me and you could ask others here would recomend
ICMarket
Axitrader
LMAX ( not yet trying, but soon )
Pepperstone
GlobalPrime ( but still too young )

Those four is the best current period IMHO

Anw, most of them was australian. Why is that :D


Sent from my iPad using Tapatalk HD
Sorry for any typo

Hi,

this was discussed many times before.
From your list the only broker i would go with is LMAX.
Its the only one with FSCS compensation sheme up to 50.000.

If you are trading higher amounts of money and you are not a millionaire imho safety for your funds are a must.  :D

best regards
Mark

Offline bismillahwd

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Re: The endless journey of finding a good broker!
« Reply #6 on: September 01, 2013, 04:23:13 PM »
No broker as Best brokers,
Same here im started forex in insta, then ibfx.

Finally after my journey, current that satisfied me and you could ask others here would recomend
ICMarket
Axitrader
LMAX ( not yet trying, but soon )
Pepperstone
GlobalPrime ( but still too young )

Those four is the best current period IMHO

Anw, most of them was australian. Why is that :D


Sent from my iPad using Tapatalk HD
Sorry for any typo

Hi,

this was discussed many times before.
From your list the only broker i would go with is LMAX.
Its the only one with FSCS compensation sheme up to 50.000.

If you are trading higher amounts of money and you are not a millionaire imho safety for your funds are a must.  :D

best regards
Mark
Didnt ASIC had those fund guarantee also? Mfglobal case on aussie trader got refunded their money, but this only roumor that i heard.

I definetly looking up to LMAX in future




Sent from my iPad using Tapatalk HD
Sorry for any typo

TradeNow

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Re: The endless journey of finding a good broker!
« Reply #7 on: September 01, 2013, 04:30:14 PM »

Didnt ASIC had those fund guarantee also? Mfglobal case on aussie trader got refunded their money, but this only roumor that i heard.

I definetly looking up to LMAX in future




Sent from my iPad using Tapatalk HD
Sorry for any typo

Hi,

no i made my research last year and the only way to secure your funds is to go with a
FSCS Broker. Or dukascopy as a bank for example.
All other brokers are maybe regulated but the money is gone if they crash.
This is an absolut nogo for me.
I am using LMAX and ist doing fine.

Better use alpari uk with all the small issue on execution and spread but your money is safe.
And the alpari pro accounts are realy not bad.

best regards
Mark
« Last Edit: September 01, 2013, 04:31:56 PM by TradeNow »

Offline bismillahwd

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Re: The endless journey of finding a good broker!
« Reply #8 on: September 01, 2013, 04:36:21 PM »

Didnt ASIC had those fund guarantee also? Mfglobal case on aussie trader got refunded their money, but this only roumor that i heard.

I definetly looking up to LMAX in future




Sent from my iPad using Tapatalk HD
Sorry for any typo

Hi,

no i made my research last year and the only way to secure your funds is to go with a
FSCS Broker. Or dukascopy as a bank for example.
All other brokers are maybe regulated but the money is gone if they crash.
This is an absolut nogo for me.
I am using LMAX and ist doing fine.

Better use alpari uk with all the small issue on execution and spread but your money is safe.
And the alpari pro accounts are realy not bad.

best regards
Mark

Thanks tradenow, i taking those as important consideration for me when go with bigger funds




Sent from my iPad using Tapatalk HD
Sorry for any typo

TradeNow

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Re: The endless journey of finding a good broker!
« Reply #9 on: September 01, 2013, 04:37:45 PM »

Thanks tradenow, i taking those as important consideration for me when go with bigger funds

Sent from my iPad using Tapatalk HD
Sorry for any typo

You are welcome,

sleeping well is a must   :)

btw: you can go with 1k$ via IB with lmax. No need to start with 10k$

best regards
Mark

Offline donalduck

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Re: The endless journey of finding a good broker!
« Reply #10 on: September 02, 2013, 09:31:30 AM »
Quote
01. Good regulation and money security
02. ECN feed and execution with no intervention (I hope for good spread as I am willing to pay a commission)
03. Good support, honest, reliable
04. Accounts opening below 2000$
05. Commission less than 10$ roundtrip
06. MT4 or cTrader
07. Accept Credit card or Skrill and send withdrawals back to them (not bank wire)
08. Leverage is not so important, as long as I can open maximum 1 standard lot I am happy

Have you tried HotForex? I can see it has all what you need.

Offline Krej

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Re: The endless journey of finding a good broker!
« Reply #11 on: September 02, 2013, 11:17:57 AM »
Why you need a regulation and a broker to be good same time? Broker needs a regulation to run trades on his side without moving them to LPs.

Offline forexmostwanted

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Re: The endless journey of finding a good broker!
« Reply #12 on: September 03, 2013, 12:25:46 PM »
No broker as Best brokers,
Same here im started forex in insta, then ibfx.

Finally after my journey, current that satisfied me and you could ask others here would recomend
ICMarket
Axitrader
LMAX ( not yet trying, but soon )
Pepperstone
GlobalPrime ( but still too young )

Those four is the best current period IMHO

Anw, most of them was australian. Why is that :D


Sent from my iPad using Tapatalk HD
Sorry for any typo

FinFx should be on top of that.

Offline jonsnow

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Re: The endless journey of finding a good broker!
« Reply #13 on: September 03, 2013, 01:43:49 PM »
^^ clearly a shill for FinFx. It's all u post about.. U think we are stupid?

Offline Alyssa E. Caruso

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Re: The endless journey of finding a good broker!
« Reply #14 on: September 04, 2013, 10:49:38 PM »
Every traders want to stay with a reliable and good broker, and it may a long journey to find but if they find a good broker to start trade with them then the journey may end... So i am disagree with your thread topic name.... and All the broker are not with bad activities.

 

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