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Author Topic: newbie ideal forex broker choice?  (Read 34985 times)

Offline KniGht yOnder

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newbie ideal forex broker choice?
« on: November 04, 2009, 04:45:32 PM »
hi donnaforex and members,

hi everyone, i am a complete newbie to forex and this is my first post after few weeks of viewing this forum and quite happy to find this forum to be very helpful and especially the honest inputs from the members ( at least i hope most of them are ;D) and thanks to donna's dedication and passion to help out fellow members!!

as a newbie i am looking for a "perfect" broker (after few months of reading about forex and i know that "kind" of brokers don't exist!)  because i will always read some good and bad reviews about some brokers somewhere  ;)  what's worse is that i get more confused the more i read about those "reviews". and i can't really differentiate whether the "good" reviews are from affiliates or "bad reviews are from the brokers' rivals!!! even i can't help but doubt the credibility of those forums like forexpeacearmy.com, pipcops.com and so on .....OMG!!! ( but this one is exceptional with donna being the admin of this forum or something like a guardian, i just have a feeling she is a genuine lady ;D, that's why i choose to post my question here!)

but that's ok certainly nobody can please the whole world and not even Jesus could do that :D  so i am looking for an "ideal" broker with the following criteria and hope some "hero" members can give a recommendation or maybe from donna herself  :P

1.  STP (Straight Through Processing. no or very little delayed execution. i am not going to do
     the scalping thingy so maybe not that crucial for me. i am gonna do manual trading with forex
     rebellion system)

2. low account opening deposit ( i am going to "throw" away $ 500 ;D)

3. acceptable spreads ( not very crucial for me as well i think cos i'm not going for 2- 4 pips  
    scalping gain)

4. brokers that do not work against their clients ( requotes, slippage etc)

5. and no withdrawal problems ( as i read some threads where people have this problems, being  
    scared of some scam brokers will take my money!!!  :o)

ok that's it. i am just a small guy from somewhere in asia pacific region, looking for enlightenment from you gurus! thank you!! ( anyway i like this forum :-*)
« Last Edit: November 04, 2009, 04:49:31 PM by KniGht yOnder »

Offline Colleen

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Re: newbie ideal forex broker choice?
« Reply #1 on: November 04, 2009, 05:00:42 PM »
Hello KniGht yOnder,

I luv my Forex.com/UK account and think it meets a lot of your criteria...

Check it out further with the link to The Aslan Group and score extra Monthly Rebates with the Rebate Program - http://www.donnaforex.com/forum/index.php?topic=474.0  I know, I'm the Client Support Manager for these folks but it's true... I really do think these accounts are GREAT for newbies... you can start up your account with at least $250 and you can trade with Microlot sizes of .01 lotsize and up on the MT4 Platform in case you do decide to work with an ea in the future... Spreads are reasonable as I've had no problems so far with my account and I have not experienced slippage or requotes as yet... and I've found working with the reputable companies like Forex.com/UK, you should not have any problems moving your money when you would like to... brokers are not banks though and it does take several days to process your monies for you...

And I'm just little ole me from a small town in Ontario just North of Toronto up here in Canada somewhere...

So check out Forex.com/UK and see if it suits your trading portfolio... best of luck with the pips! :)

Colleen ;)
Earn $ Rebates just for Trading Forex with The Aslan Group http://www.donnaforex.com/forum/index.php?board=15.0

Offline KniGht yOnder

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Re: newbie ideal forex broker choice?
« Reply #2 on: November 04, 2009, 06:02:48 PM »
hi colleen,

thanks for being the first one to reply!!! i just stumbled upon your personal blog and read some background about you and i am really envy of your living environment ( a farm with animals how cool :o) i wish i could also retire like that and you can't find that kind of environment in southeast asia, ( the farms in my country are ugly  ;D) that's why western countries are always my dreaMlands.... :D  (maybe you can include some photos of how your farm looks like in your blog hehe...)

anyway thanks for your recommendation i'll have a look at the forex.com/uk website right away.  ;)


KniGht yOnder

Offline KniGht yOnder

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Re: newbie ideal forex broker choice?
« Reply #3 on: November 04, 2009, 06:18:07 PM »
is gallant fx fine? read some bad reviews about their rude attitude towards customers ( real or fake)?
but this one is endorsed by fapwinner and fapturboexpertguide

they are not regulated by nfa, segregated account on sunspot capital which sunspot capital no longer a member of sec but still a ria (registered investment advisor). am i correct?

even rob casey once wrote in his blog that gallantfx withdrew from the nfa but later made a correction to his previous statement said that gallantfx was never a nfa member before. but when i checked the nfa's BASIC record, gallantfx was indeed a nfa member before but had withdrawn later.  http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0376633&rn=N
and now their partner sunspot capital no longer a sec member... there is much contradiction here that made me confused ??? something fishy here???

so my fund secured with them? can i trust them

Offline Mic

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Re: newbie ideal forex broker choice?
« Reply #4 on: November 04, 2009, 07:36:31 PM »
is gallant fx fine? read some bad reviews about their rude attitude towards customers ( real or fake)?
but this one is endorsed by fapwinner and fapturboexpertguide

they are not regulated by nfa, segregated account on sunspot capital which sunspot capital no longer a member of sec but still a ria (registered investment advisor). am i correct?

even rob casey once wrote in his blog that gallantfx withdrew from the nfa but later made a correction to his previous statement said that gallantfx was never a nfa member before. but when i checked the nfa's BASIC record, gallantfx was indeed a nfa member before but had withdrawn later.  http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0376633&rn=N
and now their partner sunspot capital no longer a sec member... there is much contradiction here that made me confused ??? something fishy here???

so my fund secured with them? can i trust them

Sunspot Capital is no longer a RIA with the SEC.

Offline Colleen

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Re: newbie ideal forex broker choice?
« Reply #5 on: November 04, 2009, 07:49:07 PM »
hi colleen,

thanks for being the first one to reply!!! i just stumbled upon your personal blog and read some background about you and i am really envy of your living environment ( a farm with animals how cool :o) i wish i could also retire like that and you can't find that kind of environment in southeast asia, ( the farms in my country are ugly  ;D) that's why western countries are always my dreaMlands.... :D  (maybe you can include some photos of how your farm looks like in your blog hehe...)

anyway thanks for your recommendation i'll have a look at the forex.com/uk website right away.  ;)


KniGht yOnder

Hello again KniGHT yOnder,

I'm glad I was able to respond to your post quickly, just happened to be in the neighbourhood I guess... :)

I too luv my living environment on my farm with animals too - I feel like Doctor Doolittle some days... I do realize that some folks can't find that kind of environment where they live... the farmland is nice in North America and I'm from the Great White North aka Canada...  that's why western countries are always my dreaMlands too.... :D  Although I do like to visit the Caribbean countries lately - luv those sandy beaches... (Maybe I can include some photos of how my farm looks like in my blog for you though...) ;)

And why are you thinking about Gallant FX nowadays since you don't feel like you can trust the information on this company, perhaps you've answered your own question about whether you want to deal with them possibly?

Your broker search continues I see... I do really, really like my Forex.com/UK account and still think it would meet your criteria...

Colleen ;)
« Last Edit: November 04, 2009, 07:51:25 PM by cd.1963 »
Earn $ Rebates just for Trading Forex with The Aslan Group http://www.donnaforex.com/forum/index.php?board=15.0

Offline KniGht yOnder

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Re: newbie ideal forex broker choice?
« Reply #6 on: November 05, 2009, 03:59:24 AM »
hi colleen,

Quote
And why are you thinking about Gallant FX nowadays since you don't feel like you can trust the information on this company, perhaps you've answered your own question about whether you want to deal with them possibly?

it was just that this gallant fx was highly recommended by those 2 big guys fapwinner and fapturboexpertguide, and we small folk tend to trust authority like them. maybe they are very influencing (or maybe misleading) ::)

like you said i think i got my answer already, i'll pass this one. just need some confirmation. ;D

Quote
Your broker search continues I see... I do really, really like my Forex.com/UK account and still think it would meet your criteria...
i think your forex.com/uk would be fine. i just got a small problem here. some UK brokers are very strict with their account application. they need certified copy of photo id and bills, statement etc. i got my national id of course, but i don't have utility bills in my name ( since i stay with my dad, it's his name). i got no bank statement mailed to my house ( even i went to the bank and requested 1 copy of that, they only provide with the internet statement printout!! i can do the same thing with my computer too, banks have gone paperless). i got no credit card statement since i am using a debit card. what i got is only mobile phone bill, and internet broadband bill

i emailed alpari, they replied they don't accept online bank statement and mobile phone bill or internet broadband bill. now i am trying to figure out a way to get around this.  :D thanks

Offline KniGht yOnder

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Re: newbie ideal forex broker choice?
« Reply #7 on: November 05, 2009, 04:14:33 AM »
Quote
i emailed alpari, they replied they don't accept online bank statement and mobile phone bill or internet broadband bill. now i am trying to figure out a way to get around this.  Cheesy thanks

i just chat with the forex.com/uk guy, he said they are cool with mobile phone and internet broadband bill hooray!!!!  ;D i'll open a demo account with them within this week and start testing my long sheathed "blade" already!! (ohhh i am not trying to get violent here :D)

wish me luck!!


Offline Colleen

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Re: newbie ideal forex broker choice?
« Reply #8 on: November 05, 2009, 04:19:41 AM »
hi colleen,

Quote
And why are you thinking about Gallant FX nowadays since you don't feel like you can trust the information on this company, perhaps you've answered your own question about whether you want to deal with them possibly?

it was just that this gallant fx was highly recommended by those 2 big guys fapwinner and fapturboexpertguide, and we small folk tend to trust authority like them. maybe they are very influencing (or maybe misleading) ::)

like you said i think i got my answer already, i'll pass this one. just need some confirmation. ;D

Quote
Your broker search continues I see... I do really, really like my Forex.com/UK account and still think it would meet your criteria...
i think your forex.com/uk would be fine. i just got a small problem here. some UK brokers are very strict with their account application. they need certified copy of photo id and bills, statement etc. i got my national id of course, but i don't have utility bills in my name ( since i stay with my dad, it's his name). i got no bank statement mailed to my house ( even i went to the bank and requested 1 copy of that, they only provide with the internet statement printout!! i can do the same thing with my computer too, banks have gone paperless). i got no credit card statement since i am using a debit card. what i got is only mobile phone bill, and internet broadband bill

i emailed alpari, they replied they don't accept online bank statement and mobile phone bill or internet broadband bill. now i am trying to figure out a way to get around this.  :D thanks


Hello KniGht yOnder,

So you have identification with your national id - that's the first one you'll need...

Next you can use a passport, driver's licence, government issued id, cell phone bill or bank statement to open an account with Forex.com/UK - we phoned and checked this out for you...

So, Cell Phone Bill sounds like the next piece you can use for you to open an account with Forex.com/UK.

Information must be current as well...

And Different Brokers will have different rules...

So, Alpari/UK rules are different than Forex.com/UK...

Colleen ;)

PS... KniGht yOnder aka Kelvin - I see you posted your post as I was posting my post... so we are in agreement then... the cell phone bill will suffice for you... and don't forget to use The Aslan Group to earn the monthly rebates just for trading... Oh and Good Luck with your Trading... :)
« Last Edit: November 05, 2009, 04:26:48 AM by cd.1963 »
Earn $ Rebates just for Trading Forex with The Aslan Group http://www.donnaforex.com/forum/index.php?board=15.0

Offline jenks

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Re: newbie ideal forex broker choice?
« Reply #9 on: November 06, 2009, 11:52:31 AM »
Hi Colleen,

What sort of spreads are you getting from Forex.com?  I trade fapturbo pairs and MD.

I've just downloaded a demo account as i'm fed up with FXCM offering ridiculous spreads.

Many thanks

Jenks

Offline Colleen

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Re: newbie ideal forex broker choice?
« Reply #10 on: November 06, 2009, 02:00:18 PM »
Hello Jenks,

My spreads seem reasonable with Forex.com/UK - it does seem to initiate more trades with Megadroid 1.21 than my FXCM account could because of the variable spread popping just above the maximum of 3 that is the preset setting in the Megadroid bot with FXCM... and that ea trades on the Eur/Usd pair so I do know that the spread would be below 3 during the Asian timeframe - since I only trade Eur/Usd at this time I can only comment on that pair for you...

So, please do Demo with Forex.com/UK and see how it goes for you...

I hope you find a broker you can work with...

Colleen ;)
Earn $ Rebates just for Trading Forex with The Aslan Group http://www.donnaforex.com/forum/index.php?board=15.0

Offline paralotnik

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Re: newbie ideal forex broker choice?
« Reply #11 on: November 06, 2009, 03:52:42 PM »
Knight, I used FXCM-UK, FXDD, Forex.com/UK, and have used Alpari and gallantfx in the past. I highly recommend the first 3, but the 2nd set....I don't think they're honest brokers,a dn the support is not great. The 2 UK accounts first mentioned have GREAT customer service, low deposit amounts, good spreads, and are rumored not to work against clients!

I hope my 2 cents helps...  :-\

Offline Mic

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Re: newbie ideal forex broker choice?
« Reply #12 on: November 06, 2009, 09:35:18 PM »
Knight, I used FXCM-UK, FXDD, Forex.com/UK, and have used Alpari and gallantfx in the past. I highly recommend the first 3, but the 2nd set....I don't think they're honest brokers,a dn the support is not great. The 2 UK accounts first mentioned have GREAT customer service, low deposit amounts, good spreads, and are rumored not to work against clients!

I hope my 2 cents helps...  :-\

Hi,

Just wondering why you think Gallant is not honest?

Offline Greeboz

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Re: newbie ideal forex broker choice?
« Reply #13 on: November 07, 2009, 10:33:30 PM »
Recommended Brokers : ALPARIUK, FXDD, INTERBANKFX, FXCM, FOREX.COM

Offline paralotnik

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Re: newbie ideal forex broker choice?
« Reply #14 on: November 10, 2009, 04:24:05 AM »
I had one too many issues with deleted trades, missing trades, . . .I just am not a fan. Too many fights for losses. That doesn't mean you won't have different experience.

 

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