The Ultimate NON-US Broker Guide!

Jason Rogers · #11 (**permalink**) 19-04-2010, 15:12

Hi premierpips,

FXCM's MT4 platform uses No Dealing Desk execution as does standard 10k accounts on the FX Trading Station II platform for executing forex transactions. We recommend only using MT4 if you intend to use Expert Advisors, and use the FX Trading Station II if you would like to use manual trading. Reason for this is because the FX Trading Station II was designed by FXCM for No Dealing Desk execution and the features are more suitable for traders wanting to trade manually rather than with automated trading. However, I understand you will choose to use the platform you are most comfortable with.

I agree that execution for an order of 2-3 minutes is not ordinary and our client support should be contacted about having this investigated. The standard time frame for receiving a response to a trade audit is within 2-3 business days. If you would like to contact me via private message, I would be happy to review the details of your audit to make sure our process could be reviewed for quality assurance to make sure this type of delay does not occur in the future.

-Jason

Quote:

Originally Posted by premierpips

thank you for this excellent thread.

I was surprised to see FXCM at #2 on the recommended broker list. I've had slippages of over 70 pips on their mt4 platform and execution delays of over 2-3 minutes. when i raised an issue with their support, they responded immediately but resolution of the issues took over a month. ultimately all problematic trades were reversed and i've closed the account.

the interesting part is that the FXCM representative said that their MT4 platform is operates as an MM and recommended that I switch to their Trade Station platform. But I donot like TS, hence decided to look for other brokers.

Overall, in terms of customer support, FXCM well deserves to be at #2. But actual execution would drag them down. After all for traders, execution is primary. You wouldn't want to raise issues with support all the time.

oldfox · #12 (**permalink**) 04-05-2010, 03:03

I don't buy this alleged conspiracy.

You're saying that Jimmy Carter and David Rockefeller, Dick Cheney and Bill Clinton, Henry Kissinger and Richard Holbrooke, both George Bush's and Al Gore are all singing from the same consensus hymnal. I don't think so. They can't agree on anything policywise, let alone holding down poor people.

You might as well go through the membership list of the University Club of Washington DC, and assert that since they have all agreed to observe the rules of the Club, they are in cahoots to suppress freedom and liberty, success and creativity, apple pie and the American Way to all those who do not belong to that Club!

Nonsense, I say.

TraderJack · #13 (**permalink**) 11-05-2010, 19:23

For those who have done their homework and those who have eyes, let them see!

stinger · #14 (**permalink**) 15-10-2010, 12:57

Helpful thread. Or at least the idea.
In my personal list none of the three suggested brokers will be present.
It is very important on which frame you trade, manually or automated, majors or crosses. There is no absolute happiness, a simple choice, that will work for novice and pros, FA and TA, scalp and short term etc.
Of course there are still couple of names, that worth trading with.

dpaterso · #15 (**permalink**) 19-10-2010, 08:21

Hello,

Is this thread still going and is the list still being updated???

If so: I'd (obviously) like to recommend and have Deltastock (deltastock.com) added to the list please. My reasons??? LOL!!! Well I could tell you a HALF truth by saying that I've traded with them for around five years and I honestly could not wish to have found a 'better bunch' of people and trading platform. This is true BUT only HALF the truth!!! LOL!!! The other half is that I represent them in South Africa (so yes, I cannot tell a lie, if you open an account via us I make some commission)!!! LOL!!! That said: you also get the benefit of my undivided attention for what it's worth (I've started a new blog that is dedicated to detailing technical trading systems that I know to work consistently so if anyone is interested then feel free to join FREE OF CHARGE of course: technicaltradingsystems.blogspot.com and if you'd like to contribute that would be great too).

Now assuming my post (this one) does not get deleted??? LOL!!! It's a very interesting discussion though I'll tell you. From a personal point of view: I don't see the reduction in leverage as being a big issue at all (please don't shoot me for saying that and who am I to disagree with 'AshFX' let's be honest). But the fact of the matter really is that all it really means is that more capital is required in order trade. I personally think that especially in the case of new traders the problem comes in when they don't have a clue about managing risk / lost sizes and, as I've noted in discussions similar to this one, it doesn't matter whether you're trading with 50 000:1 or 1:1 leverage: if you don't know how to manage risk then the end result is going to be 'tears' regardless. As to WHY the CFTC felt it necessary to reduce the maxmum allowable leverage: I do not and will not understand (and I've spent a LOT of time trying to fathom it out myself).

One other thing that 'caught my eye' on this thread: the thing about gambling and horse racing. Why??? Well OUR government has outlawed outright online gambling just recently. So: we'ere ahead of you THERE!!! LOL!!! But what FASCINATES me is the fact that there are new casinos 'springing up' all over the show here (well there are many anway) and I personally 'smell a rat'. Could it be that the big casinos here are contributing financially in a big way to the coffers and there was essentially no FINANCIAL control over the online casinos??? SURELY not!!! LOL!!! But I've read some discussions on other forums relating to this very same subject (the CFTC) and it has even been alluded to that MAYBE JUST MAYBE the reason why forex traders are getting 'nailed' like this is because they would like to maybe 'push' traders into trading on-exchange instruments within the USA??? Hmmmnnn...

(By the way Jason: we seem to be 'running into each other' quite often these days not)??? LOL!!!

mehar20 · #16 (**permalink**) 10-02-2011, 11:23

Now assuming my post (this one) does not get deleted??? LOL!!! It's a very interesting discussion though I'll tell you. From a personal point of view: I don't see the reduction in leverage as being a big issue at all (please don't shoot me for saying that and who am I to disagree with 'AshFX' let's be honest). But the fact of the matter really is that all it really means is that more capital is required in order trade. I personally think that especially in the case of new traders the problem comes in when they don't have a clue about managing risk / lost sizes and, as I've noted in discussions similar to this one, it doesn't matter whether you're trading with 50 000:1 or 1:1 leverage: if you don't know how to manage risk then the end result is going to be 'tears' regardless. As to WHY the CFTC felt it necessary to reduce the maxmum allowable leverage: I do not and will not understand (and I've spent a LOT of time trying to fathom it out myself).

Tradinger · #17 (**permalink**) 25-03-2011, 14:04

Quote:

Originally Posted by mehar20

Now assuming my post (this one) does not get deleted??? LOL!!! It's a very interesting discussion though I'll tell you. From a personal point of view: I don't see the reduction in leverage as being a big issue at all (please don't shoot me for saying that and who am I to disagree with 'AshFX' let's be honest). But the fact of the matter really is that all it really means is that more capital is required in order trade. I personally think that especially in the case of new traders the problem comes in when they don't have a clue about managing risk / lost sizes and, as I've noted in discussions similar to this one, it doesn't matter whether you're trading with 50 000:1 or 1:1 leverage: if you don't know how to manage risk then the end result is going to be 'tears' regardless. As to WHY the CFTC felt it necessary to reduce the maxmum allowable leverage: I do not and will not understand (and I've spent a LOT of time trying to fathom it out myself).

Are you dpaterso?
The over use of LOL!!! makes me think that

I really hate these wars about forex broker. Everybody screams scam if they lose a bit and everybody who wants to defend them goes crazy and is insulting the other part. That's just my experience but what do you guys think about FPA and sites like that? Are they really useful or just puppets?