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Broker comparison

Posted: Fri Sep 27, 2013 9:56 pm
by johnedward
Hi all, been about a year since I've posted here, but at least I got some experience under my belt with a few brokers as far as trading goes (yes I change brokers a lot, once something ticks me off I'm off to the next broker).

Alpari: lots of slippage.
InstaForex: a hassle to get my money back.
LiteForex: stop/limit orders too restrictive, a hassle to get my money back
LMAX: great spreads, but insane slippage during big news.
FxPro: good broker, but no microlots

Haven't tested MB trading yet. Almost tested Oanda, but spreads during news are huge. Tempted by Liquid Markets as they pay interest on your funds. My biggest advice though is: stay away from Russian brokers!!!!

Over the years, I've put together a broker comparison chart, here it is:
I'm pretty sure all of the info is 100% correct, but if you think I'm missing something let me know! :wink:

Re: Broker comparison

Posted: Sun Jan 08, 2017 7:05 pm
by Razar Remon
I don’t see Freshforex there, so it would be great if you can add that too? As per rest of the brokers on your list, I am not happy with majority of them, as I had issue with all in past especially IFX.

Re: Broker comparison

Posted: Thu Oct 12, 2017 1:52 pm
by johnedward
Just took a look at FreshForex...

At this point, I won't bother trading with them, ever. On ForexPeaceArmy, someone from within their company posted a 5-star review, that's a bad sign when a broker is going on the interwebs posting bogus reviews! Also, they're located (at least on paper, I'd bet that they're operating out of Russia!) in Saint Vincent and the Grenadines; I wouldn't send my money way out there.

As a rule of thumb, if you're a Canadian/US trader, open a trading account in the US or Canada; if you live in Australia, open an account with an Australian broker; if you live elsewhere, go with a broker that's based in London (and just because a broker's phone number starts with +44 doesn't mean they're really based there, don't be fooled by these Cyprus and other brokers that claim they're UK based!!!).

Re: Broker comparison

Posted: Sat Oct 28, 2017 7:25 am
by Razar Remon
Johnedward, I haven’t seen the review you are referring towards, so I am not exactly sure. But, I find it with irrelevant as why will any company want 5-star review when it is not going to make any impact on the overall picture. There are massive reviews on FPA about them, it includes positive/negative, and so one bad or good review is NOT going to change how people feel about FreshForex. Anyhow, I personally find them good due to their offers. I won’t argue with what you said about the joining of brokers for people from certain countries, as that looks valid point.

Re: Broker comparison

Posted: Sat Sep 01, 2018 8:14 pm
by johnedward
Panamasa wrote:what brokers are now reliable

To name a few:
There are loads of others, but try to stick to those that have a real office in London (not just a phone number, anyone can get a hold of one...)