I welcome all cliqforex visitors, my name is Alex. Even if I usually don't bring about forums, cliqforex shifted my mind. I believecliqforexas a great and valuable community that is not influenced by agents interests and that is free from fake brokers posts (among a few). So I would like to talk about there my experience too I believe that this will be eye-opening and useful .

Lets begin with a little about me. I trade Currency Market for more than 9 years and approx the 4th year I am able to exchange it profitably. You're most likely thinking if I had been the whole 5 years 18, that I am not successful. And maybe you're right, because some matters and connections needed experience to explore. But following the long 5 years I was able to put together all of the puzzles known as Currency Market and eventually I was able to view all of the principles and how it actually works.

Today you will likely anticipate that I will be writing about plogy a great deal or how the ideal trader thinks or that I will write about some holy grail trading plan. To be honest, this is not exactly what Currency Market trading is all about!

Would you really wish to learn what long-term Currency Market trading and the entire puzzle known as Currency Market is all about?

My long-term success in Currency Market relies on two matters:The Ideal money management (this component is extremely important) The Ideal agent (simply without the Reasonable and high-quality broker you Won't be able to make any cash) Let's begin with money-management. The money-management is as important to traders as a water for fish. You don't have some possibility, should youn't have a mostly safe and quality model! In my own life I fulfilled hundreds of traders who only dropped everything, because they risked too much.

Think about it is it possible to exchange 2 lots (200 000 of EUR / GBP / USD) with only a few bucks on your account? Unfortunately, in the market of today, yes. It is called leverage and traders are told that it is a great instrument to begin with a small deposit and have a potential to profits. But plogy is a gun that will burst from the hand of every dealer who will over-leverage his orders along with his account.

Also think about how banks and other associations make money in normal trading let's not think about some insider information trading or HFT that is not available to us (it is even not available to all associations). So it is all about managing cash then.

My very first lesson would be to always hazard only the amount that is acceptable in contrast with your account's value.

The second extremely important part of trading is deciding on the ideal agent. To be honest, if I would let you know of the entire brokerage firm works just 10 percent, you would be thinking that I am a ppath or sci-fi author. However, the principal objective of this guide is not to discourage you, but to assist you.

There are simply two types of agents: Those who'll take all your money (your deposit = the Entire profit for these cheating agents) Those Who Want long-term traders that are profitable as they gain through spreads and they are currently supplying the market liquidity So to be able to survive picking superior and truly fair agent is needed. We'd be able to count together the most ones on fingers of my hands, although everyone would be likely able to shout tens or even hundreds of agents.

And believe me, I've already been trading with a lot of agents and experienced lots of bad / cheating practices as well as good ones. Now I would like to discuss my experience and tell here which agents you should certainly not exchange with and which agents are based on my experience. I would also like to encourage additional traders to discuss their experience (real accounts just!) And I'll add your experience and notes to this very first article. I'd like to make something like database of broker's notes / table and experience of serious vs. low-quality brokers.

Before that, allow me to save you some money and reply how to recognize the low quality agents? Their websites are like from the supermarket. Discounts, bonuses, economical texts and graphics . The most and cheapest adulterous suggestion of the agents of today is % deposit bonus. Bear in mind, in the event of agents this applies too and that nobody will provide you anything for free. Brokers will never allow you to earn.

These agents also almost don't talk about the most important component which are trading requirements. That is actually the ch, although A number of them talk about zero spreads. Much more important than spreads is the real orders execution slippage, latency, speed, stability etc. and the entire trading technology and broker's liquidity providers.

Let's begin with the agents database.

Agents that you should certainly avoid and reasons why:

IronFX (ironfx.com) enormous % deposit bonuses, enormous financial leverage, traders repeatedly cheated by enormous slippages and not processing withdrawal requests for many months.

HotForex (hotforex.com) enormous % deposit bonuses, enormous financial leverage, their zero spread revolution is just another scam as a result of their dreadful orders execution. There are a great deal of IB partners, because they cover around $15 per every lot.

InstaForex (instaforex.com) this is a huge scam especially in Asia. Again, % deposit bonuses, contests that are innumerable and rewards. A whole lot of the deposits of trader stucked with InstaForex.

Markets.com they will call you every single day if you're going to provide your actual account to them. They will also let you know how and when to buy or sell to loose everything and bring gains they're usually recommending to exchange without Stop-Losses. Again, they use some simple offers that are scamming like % bonuses and trading.

FXDD (fxdd.com) previously based in New York and US regulated, then moved to Malta due to penalties from the US regulator. They provide binary options (so called casino Currency Market trading), they often have some bonus time-limited supplies and their technology are very poor especially when talking about slippages.

Saxo Bank (saxobank.com) cheating agent with banking license among the worst market manufacturer with enormous slippages. They're still judging with traders around the world on account of the losses on EUR/CHF (after Swiss National Bank canceled 1,2 mend on EUR/CHF), the business is currently more enforcer than agent is they are trying to get all the losses they artifically made by themselves from traders.

XM.com quite brand new participant in the sport. Banners are bought by them and provide no deposit trading, % bonus offers and payouts to their IB partners. The same music over and over.

FXPro (fxpro.com) they look like serious and reliable agent, they promote their technology, regulation etc.. They've got two instant execution accounts where they gain from trader's losses. And yet one floating spread market. It is very probable that the industry execution account is connected to one. Their 1:500 leverage is also the proof that you can't trade on the real industry.

XTB (xtb.com) XTB not a long time ago ensured the degree of Stop-Losses, why? Since they didn't send any arrangement to the real industry. So I made a return and exchanged principles. However, what I anticipated happend, XTB called me that my account is closing. This merely demones that they gain from loosing traders and that they don't like traders that are profitable.

Oanda (oanda.com) was among the better market manufacturers and traders were happy together. However, something went wrong with them and their solutions are now worse and worse. Their execution is awful and their spreads can multiple with no issues by days. Simply slippage and spread will kill any dealer in the long-term with Oanda.

FXCM (fxcm.com) they are a story by itself. Just a few instances that talk for everything: FXCM UK Announces $16.9 Million Settlement with FCA for Asymmetric Slippage, NFA penalties FXCM $2 million for slippage malpractices etc..

FOREX.com - GAIN Capital - I personally dont have a real experience together, but traders across the Internet are reporting shutting their accounts in the event that they made some gain. Also their IBs are paid by them around USD 500 per every qualified referred client that's not usual compared to profit share that provide professional fx brokers.

Z.com - FCA regulated, but doing a great deal of business in Japan too. They offer % deposit bonuses, adjusted spreads, big shares to their IBs (around USD500 CPA). In their legal documents you may find.

OctaFX - they close profitable accounts of traders without providing a valid reason for closing balances. Deposit bonus is being offered by them. Also based on their IB / affiliate program, they provide around 15 USD percent to their IBs (like 1,5 pips - so the principal stream of the profits aren't spreads / commissions, however their b-book and traders losses).

ETX Capital - they provide binary options and enormous stocks to their own IBs. There are scammed traders by ETX posting on the Internet - one of those scammed traders can be seen https://www.cliqforex.com/newbie-que...-decimals.html (along with his other article https://www.cliqforex.com/trading-sy...-rankings.html). Also the movie in https://www.cliqforex.com/trading-sy...er-3-2017.html Proves what occurs when you begin making profits with ETX. More scammed traders by ETX are in https://www.cliqforex.com/trading-sy...urnaments.html.

Synergy Financial Markets - Australian established agent who promises to be STP / ECN. But they appear to manipulating the sector and hunting traders requests - you can see this in the posts https://www.cliqforex.com/technical-...-underway.html, https://www.cliqforex.com/trading-sy...g-signals.html and https://www.cliqforex.com/trading-sy...-from-ecb.html. Traders over the Internet are reporting issues with them.

Plus500 - this agent likely doesn't need any additional comment. I personally do not have not so much guts to trade with them. From what I've heard, real accounts linked to a liquidity providers aren't even opened by them and traders are only trading on accounts linked to live servers. Traders are reporting that they remove money of traders in their own account, do not send orders.

Alpari - their UK division went bankrupt during the SNB event. Https://www.cliqforex.com/technical-...st-awards.html is the thread about price manipulation and SL hunting by Alpari. Plenty of traders over the net are currently reporting which Alpari is a scam.

FXPRIMUS - they are offering 100% deposit bonus and enormous 1:1000 leverage. Amongcliqforexmembers is warning against their bonuses https://www.cliqforex.com/trading-sy...ut-system.html.

DMM FX - warning against this originally Australian established agent - they shut their business in Australia and are trying to offer services in Japan. Among traders here cautioned that they have fairly awful implementation of requests (https://www.cliqforex.com/trading-sy...tle-ahead.html). Plus you'll be able to see https://www.cliqforex.com/trading-sy...-for-this.html how they were scamming different traders - such as penalizing traders that are using EAs by broadening spreads etc..

Some more bucket store agents mentioned by yesyoucan https://www.cliqforex.com/general-fo...rump-risk.html.

More come to the list soon.

On the opposing side, reliable and quality agents are interested to have as many lucrative traders as you can, since they profit from spreads / commissions just and the counter party of your transactions are almost always different liquidity providers of their agent. They also improve their trading requirements, trading technology, they provide the marketplace without any interventions with access, they supply deposit security and notably have a great orders implementation with both positive and negative slippage.

So here is my personal taste of reliable and the best agents based on my opinion and expertise.

Axiory (axiory.eu) - they changed their brand to Purple Trading (purple-trading. Com), and also their brand new permit allowed them to add a few solutions for money managers and investors.
I personally have the real account with this agent with the highest deposit. The agent is known as advertising isn't invested to by them . Like I trade a time I experienced technologies in Purple Trading being a reliable brokerage and trading requirements improvements which increased my belief. Based on my opinion they have currently the technologies and orders implementation. They are number one for my trading.

Swissquote Bank (en.swissquote.com/fx)
With Swissquote, it's little bit more complex. There's Swissquote Ltd. established in London. Then there is Swissquote Bank Ltd. established in Switzerland and holding a banking permit. I personally have a meeting with Swissquote Bank Switzerland, they have top quality technology and I truly like their banking permit / security. They were fair and receptive . It's a huge company with capital. So I must say that they are doing a fantastic job also.

JFD Agents (jfdbrokers.com)
Cyprus based brokerage with honest approach to traders. They have trading requirements and trading technologies. They are not the number one and they are also definitely not the number one in the world, but I like their approach and they are certainly a fantastic alternative in contrast with other filthy brokers.

Interactive Agents (interactivebrokers.com)
US traders have a very few alternatives to pick from when they are comparing the brokerages accepting US traders. I consider these to be a fantastic solution for US traders, although I really don't have a lot of experience with IB. But I'd be glad if you confirm or disprove this based on your experience. You can read more detailed review https://www.cliqforex.com/trading-sy...s-and-fib.html.

LMAX (lmax.com)
Based on traders reviews here, LMAX is also a trusted agent and a fantastic option to consider. LMAX requires minimum deposit that is higher which doesnt need to match some traders.

Then there are a few Prime Brokerages, which usual retail trader can not afford they have enormous minimum deposit requirement and set limits how much you have to trade every single month and cancel your accounts if you trade less. So the aforementioned options are the thing to do.

Traders can quickly verify which Cyprus licensed agent (it's possible to check with other regulators also) is a MM or STP, by simply checking their permit type. You may read more https://www.cliqforex.com/trading-sy...fxcm-down.html (also important add https://www.cliqforex.com/trading-sy...ange-rate.html).

My next lesson is that Without honest and reliable agent do not even try to trade, as you do not have some long-term chances.

Now it's your time, I'd love to invite you to share your expertise with both bad and fair agents. Please always provide as much information as possible and share your real experience from accounts. When appropriate, this post and I will add notes and your expertise together. Let's help you save money one another and help and inform here which agents traders must avoid and which ones are a fantastic choice.

I hope that this thread and my experience will open your eyes and direct you in the right way. Otherwise, you will probably appreciate this after, it Is Only Going to take you little more time

Alex