Forex.com opinions
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Thread: Forex.com opinions

  1. #1

    Forex.com opinions

    I recently opened an account with forex.com. I have not read favorable reviews of them, however, and would love to get some opinions from this plank on why they are viewed so negatively. They seem like a reputable and recognized store, spreads could be better but what else am I overlooking?

    Thanks for your help.

  2. #2
    Quote Originally Posted by ;
    I'm using forex.com mended, the spread for the GDP/USD is high.

    I personaly like to pay a higher constant disperse up front and also have a widely expanding disperse, I least I can have some notion of the costs of making the transaction that way.


    Best regards

    Dale
    Yea, the GBPUSD appears to fluctuate a bit from 4-6 pips at GAIN (forex.com) while the EURUSD actually only moves from 2-3 pips.

    Their MT4 platform has much better since one year past and GAIN is still one of the easiest places to get put up with an MT4 PAMM account if you would like to manage funds on metatrader. .

  3. #3
    Back in 2010: Gain Capital has been http://forexmagnates.com/nfa-audits-...-fails-itself/ for abusing its Virtual Dealer plug in and configuring it to unfair trading configurations. The plugin has been configured to accept customer orders when slippage moves unfavorably from them and reject customer orders when slippage goes against Gain Capital.

    Http://forexmagnates.com/nfa-to-inve...ing-practices/

    I personally have not heard anything good or bad about them since (that I can recall ).

  4. #4
    So do u believe Forex.com is a fantastic broker to choose. I ceased my account with Avafx.

  5. #5
    Quote Originally Posted by ;
    Thanks for the all the replies. Im glad to hear they're not as awful as what Ive been studying accross web. This is my very first attempt into Foreign Exchange so I'm sure as I get wiser I'll search for a better choice currently google look for Foreign Exchange required me to them so for today seems like I'll stick together. Can any one record some better or more brokers for starters?
    Are spreads negotiable at all or are they pretty much fixed?
    Ibfx.com.au, MBTrading.com (I think they have london branch), Gomarketsaus.com, FX.com, PFGBest, FXOpen ECN, Oanda. All of these brokers have their pros/cons; you have to assess

    1) will the broker be about next year? (company stability)
    2a) order execution and reliability.
    2b) automated trader or manual trader?
    3) Deposit/Withdraw policy
    etc, etc.. Notice I didn't mention spreads. Watch this video to learn why.

    The spreads are the exact same for everyone, unless your daily/monthly volume can warrant a commission discount.

  6. #6
    Thanks for the all the replies. Im happy to hear they are not as bad as what Ive been reading accross web. This is my very first attempt into Foreign Exchange so I'm certain as I get wiser I will look for a better choice currently google search for Foreign Exchange required me to them so for now appears like I will stick with them. Can any 1 list some better or more brokers for starters?
    Are spreads negotiable at all or are they pretty much fixed?

  7. #7
    All in all, they're a good broker if you don't obey their trading requirements:

    1) limit orders put 50 pips from spread (pro accounts that is 5.0 pips).

    Two ) stops orders are sure to be filled at the end price (basically a stop limit order, but they promise fills). I never had a problem with fills.

    3) Their spreads aren't excellent by any means. This includes the pro accounts. In reality, my account supervisor encouraged me to contemplate standard account, because they round down the spread. Therefore [theoretically] when the 5 digit spread is 1.23479, you would get 1.2347.

    4) 2-3 business days to process funds by wire. [wtf?] But pro accounts get free withdrawals. At least one per month. Make certain you remind them.

    5) they've microlots (1000 units of base currency) on their accounts. No restrictions as mt4 is in UK. But that may also mean they're not accepting USA customers for that platform . Leverage was 1:200 up to any deposit amount.

    6) Their team I believe they outsource some of it. Not that that is a problem, however, there was a huge disconnect between what my account supervisor said, and exactly what many of the internet chat representatives were saying occasionally with trading requirements, promotions, etc..


    With brokers like GoM, IBFX (au), FX, MB Trading (uk), it is possible to still acquire major broker with much better spreads and draw coverage. IMO. The new CFTC fine for price manipulation didn't help Gain's image . They never confirmed or denied the price manipulation, which has been wise on their part. Like the paralegal told the rich kid that was being sued in the film The Social Network Only settle....in the larger scheme of things it is just a speeding ticket

    FXCM made the error of denying price manipulation and many individuals on this forum have busted them together with quite obvious evidence that manipulation was happening, even on the active trader (raw spreads) platform. It established a public relations nightmare.

  8. #8
    Quote Originally Posted by ;
    Just by notions on GAIN -- I was only worried that I'd get flamed if I said GAIN's bargain desk was fair, but in contrast to nearly all market makers, they're.
    Yeah they're so honest they fined for cheating on their clients...

  9. #9
    I love to park my position in anticipation of the market movement. I am on Denver, CO time, and so that Frankfurt comes online a hour before London at 12am(MTN), and also the New York session will come online at 1pm (MTN), and will operate through 3pm. Sydney Tokyo will float marginally by two 3 hours at the London start, respectively as well. However, the 800 pound gorilla is London. So watch your news.

    I like http://www.stocktwits.tv/forexam-with-raghee-horner/ and Stick with price action trading. Cheers!

  10. #10
    I presume the stop loss hunting would only be for orders though. . .surely to costly to perform for small tiddlers (such as me!)

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