Broker comparison

[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: http://www.forex-central.net/broker-comparison.php
I'm pretty sure all of the info is 100% correct, but if you think I'm missing something let me know!

[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.

[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!!!).

[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.

[johnedward]

what brokers are now reliable

To name a few:
Plus500
XM
Pepperstone
Oanda
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...)

[Mr. D]

Hi johnedward,

Is there a comparison of brokers who give access to SP500 mini (/ES)? Usual attributes: reliability, spread, social feedback.

Thanks!

[johnedward]

Hi johnedward,

Is there a comparison of brokers who give access to SP500 mini (/ES)? Usual attributes: reliability, spread, social feedback.

Thanks!

Hi Mr. D,

Not that I know of unfortunately...

Cheers,

[Mike Bell]

Interesting comparison, but it has been a while since then. There are likely new brokers that deserve attention. I would appreciate a comparison table for these new brokers. I personally like jpfbs. I found good tips for trading here.