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Forex Brokers Reviews – 2014
There are many foreign exchange brokers to choose from. Therefore, it is crucial to read the following forex brokers reviews very carefully. To make things easier for you, we have done dozens of reviews of the best forex brokers to enhance your trading experience.
MT5 Brokers
A comprehensive list of Forex Brokers that offer the MetaTrader (MT5) 5 Platform
MT4 Brokers
A comprehensive list of Forex Brokers that offer the MetaTrader (MT4) 4 Platform
Brokers with VPS
A list of Forex Brokers that offer VPS (Virtual Private Server) services for traders to host their accounts on. Many of these brokers will offer this service for free, based on account balance and/or trading volume - details of these requirements can be viewed in each brokers listing.
Brokers with Non Expiring Demo Acounts
A list of Forex Brokers that have Non-Expiring MetaTrader 4 (MT4) Demo Accounts
Brokers for Scalping
A list of Forex Brokers that allow the use of Scalping as a strategy. Scalping involves high volumes of low profit/loss trades, often held for only seconds at a time. ECN/STP brokers tend to allow unrestricted scalping, while other may allow scalping with restrictions (such as holding the trade from more than 1 minute) - details of whether or not any restrictions apply can be viewed in each brokers listing.
Another useful website providing forex brokers is 100forexbrokers.com which i have used for 3 years to get various FX brokers information.
Benefits of Being a Forex Introducing Broker
The Forex market is by far and away the largest market in the world. Trading at over $5 trillion a day it is well above all of the exchanges combined. The Forex trading industry has seen both of record volumes and record profits in the past months. There are ways to take advantage of this boom and also to provide a necessary service.
Becoming an introducing broker is a way that one can get compensated for introducing clients to Forex broker. This process is usually quite simple.
First of all the introducing broker or IB will discuss with a sales representative from the Forex broker the nature of their business. They will provide information like their target market or other demographic all information that is helpful to the Forex broker. The introducing broker will then sign an Introducing Broker agreement with the Forex broker including the terms of their payout.
Upon completion of all the agreements and execution of those agreements the next step is for the introducing broker to market to his clients. There are many ways that an introducing broker can acquire his clients. One is the introducing broker that provides training or education and is looking for a broker for his clients to trade with.
Another type of Forex introducing broker may be someone who specializes in online marketing. The introducing broker may run a blog or a portal that features Forex markets. They can then have banners or links back to the broker and receive compensation for referring that broker. Many times the introducing broker specializes in a certain country and provides language support for that particular country. This can be a great deal of help to the Forex broker that they do not have to have language support in every country that they deal with. This can also be very beneficial to the client in that there is no misunderstanding and there’s clear support in their native language.
Brokers usually provide the introducing broker with a completely transparent back office where they can track all of their activity and calculate their payouts in real time.
Becoming an introducing broker can be one way that you can experience the exciting world of Forex.
JP Morgan Buys Into Plus500
FCA regulated retail FX company Plus500 (PLUS.L) can look back over recent events with some degree of satisfaction, with the entity continually demonstrating high stock prices since its equally high-ticket IPO.
Today, the company has published a notification of major interest in shares, denoting that corporate banking giant JP Morgan Asset Management (NYSE:JPM) along with its securities division, has purchased a 4% interest, representing 4.64 million shares
Plus500 has consistantly performed strongly, with its share prices having continued to rise as last year drew to a close, during a period when large, household names within the retail FX sector such as GAIN Capital experienced a downward dynamic.
This was exemplified in November, when Plus500's share price rose by 17%, compared to GAIN Capital, a company which did not perform at all badly during 2013, experienced a 17% decline in the value of its stock.
Couple this to the company's successful IPO in July last year, which culminated in a valuation of $200 million, and it is evident that Plus500 is well positioned to attract the attention of the large conglomerates in the global financial industry.
It is entirely possible that JP Morgan has acquired the Plus500 shares as part of the recent £100 million share sale by Plus500 insiders, and that some of the shares are likely being held by JP Morgan for their own clients.
Regardless of the circumstances which surround the transaction, this represents a major credibility boost for Plus500.
Choosing a Forex Broker
It might seem like it goes without saying that it is important to do your due diligence before committing to a market broker in any asset class — be it forex, commodities, options or stocks. But what is most surprising is the fact that most traders choose their brokers without giving it much thought because they feel the need to jump right into the markets and start making amazing gains. Those of us with experience in these markets know that there are some important reasons to have patience in these areas because not all forex brokers are created equal. Additionally, the potential for destructive losses in many cases is even greater in forex markets because most traders (especially new traders) will utilize large levels of leverage in order to maximize gains. Unfortunately these practices have the potential to maximize losses as well — so it is highly important to understand the inner workings of your broker before taking on real market risk.
Stops and Execution
When you want to choose a forex broker, the first area to monitor is the broker’s ability to execute trade and honor specific order levels. For example, if you have a stop loss in a EUR/USD trade that is placed at 1.35, it will be critical to have that stop loss filled correctly if prices trade at the 1.35 level. If this does not happen, you can undergo unnecessary losses or even encounter a margin call that you were not prepared to experience. Some brokers offer guaranteed stop losses, while others offer variable stop losses that may or may not be filled (depending on overall market liquidity). This is an important difference that must be understood before any real trades are placed.
If you are not prepared for the arrangement that is offered by your broker, you could begin to experience losses at a rate that is much faster than you were initially expecting. Looking at stop loss arrangements and trading execution is one of the quickest and easiest ways you can determine whether or not a specific broker is right for you. But you will also need to spend some time using that broker’s demo account in order to determine whether or not you are seeing slippage between the order level you were expecting and the one that was actually filled in your trading account.
Spreads
The second important factor to watch is the spread that is offered on your most commonly traded currency pairs. In pairs like the EUR/USD these will usually be somewhere between 1 and 3 pips, but there are brokers that offer even lower rates and this can only help your trading account. One sacrifice that is often made when getting lower spreads is weaker trading execution, so you will need to determine which aspect of the broker arrangement is most important to you before you open a live trading account and begin establishing positions. Spreads, Stop Losses, and Trading execution are a few of the most important factors to consider when choosing your main forex broker.
Here are really nice and most interesting post about Forex Brokers. I am totally agree with you and would like to say thanks to you that you share this post here with us. Seriously here are really interesting reviews.
New Russian Forex Bill: Offshore Regulation To Be Banned
The schedule of the Russian parliament has been updated yet again and it appears that forex dealing regulation is coming back to the fray. According to recent reports by Russian media there might be some key amendments aimed to limit the participation of brokers residing in offshore financial centres (OFCs). The revisions have been introduced for consideration of the financial markets committee headed by Natalya Burykina.
Popular Offshore Destinations Not Tolerated
While the committee plans to discuss the proposed amendments to the forex regulation bill, it is worth pointing out that Cyprus has been excluded by lawmakers from the list of OFCs back in January 2013. However entities which are regulated in Malta might have a hard time getting into the Russian market if the amendments are included. Needless to say the list goes on with a full mention of all offshore tax heavens one can think of, and notably includes the United Arab Emirates and Hong Kong. (A full list of the OFCs deemed as offshore can be found by following this link in Russian.)
Another set of proposed amendments touches on the professional qualities of individuals and history of conduct of companies who apply for a forex broker dealer license. The proposal details certain requirements for the founders and shareholders of the companies that can get a license. They have to be completely unrelated (without distinction whether the shareholders are directly or indirectly through controlled entities) to funds engaged in trust management agreements, simple partnerships, errands, shareholders agreements, any other agreements, the subject of which is the exercise of rights certified by shares in a forex dealer company that controls votes relating to stakes in an authorized forex broker dealer.
Additionally the legal entity can not be registered in any of the OFCs that concede information on financial transactions from the Russian government.
A Clean sheet Is A Must For Regulated Forex Brokers
The next amendment relates to companies that have already been revoked their license for previously conducting any sort of financial services related activity. In addition the draft proposal includes provisions for the business reputation of the professional management teams of the forex broker dealers. This point concerns the members of the board of directors, the collective comprising the executive body and every executive in the company including branch managers, internal comptrollers, risk management professionals and others.
As such, the individuals would have to comply with the following requirements – to have not been in charge of an organization that has violated financial regulations throughout the person’s tenure, or if the organization whose license has been revoked, at least three years need to have passed. Leadership positions at forex brokerages would not be held by individuals who have been administratively punished and disqualified for misconduct in any other company and individuals who have been convicted for economic crimes or crimes against any state authority.
The latter part of the proposed amendments applies to founders and shareholders in forex broker dealer companies as well. To conclude the changes, forex broker dealers regulated in Russia would be obliged to report any changes in their shareholder structure to the Bank of Russia in a set timely manner.
Second Reading Vote Is Imminent
It’s good to know that Russian authorities have not postponed back regulation of the foreign exchange indefinitely after all. The 23rd of April is quite close and if the votes pass, the implementation of these changes are actually addressing some of the concerns that were expressed by Forex Magnates in an earlier detailed report on the state of the regulation of the forex industry in Russia. One of the so-called banking forex companies has been operating from the British Virgin Islands all along, and nobody seemed to care much. Well after all Russian authorities do appear to have taken this into account. However with the broadness of the list of OFCs some decently regulated entities might be shut off from the Russian market.
Global Prime Partners Appoints Deutsche Bank, FxPro Launches Branded MasterCard
Forex broker Global Prime Partners has announced in a press release that it has awarded Deutsche Bank a contract to provide clearing, custody and execution services for its clients. Most of GPP’s customers are family offices, emerging managers, boutique broker dealers and professional traders.
This follows its recent appointment of BNY Mellon last November to provide it with the custody and clearing services.
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“We are excited to be partnering with another top-rated institution and are already enjoying the operational benefits that Deutsche Bank is providing. We continuously see smaller managers and broker dealers having difficulties gaining access to large, reputable institutions, but through Deutsche Bank, we will be able to provide our clients with this opportunity,” said GPP’s CEO Julian Parker.
“We are delighted to be able to bring our market-leading clearing and custody services to GPP. They have an excellent reputation and we believe Deutsche Bank is the ideal partner for such a dynamic organization. We look forward to broadening our relationship with them,” added Deborah Thompson, who is the Managing Director and Global Head of Direct Securities Services Sales in Deutsche Bank’s Global Transaction Banking.
Separately, FxPro unveiled its own branded prepaid card called FxPro Infinite Card, which is issued by MasterCard. Cardholders will be able to seamlessly connect it with their FxPro trading account. They will also be able to use it to purchase goods and make other transactions just as with other normal credit and debit cards.
FxPro says that cardholders can easily move, when necessary, the funds between their MasterCard and FxPro Vault.
Recently, most retail forex brokers have embraced a trend that has seen them give their clients direct access to their funds.
Forex Broker Vinson Financials Launches Website and Turnkey Partnership Solutions
Vinson Financials, a leading forex broker, today announced the launch of its new website as part of its expansion and innovation strategy. In addition to highly competitive trading conditions, it is now also offering an award-winning turnkey partnership solution for introducing brokers.
Vinson Financials, a leading forex broker, has provided investment services across the globe for over 10 years. The company is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), licence no. 184/12 and offers forex, CFDs, precious metals, futures and indices trading.
Today, Vinson Financials announces the launch of its new website, complete with advanced charting, coaching tools, daily news and technical analysis. A further six languages will be introduced shortly.
Vinson Financials aims to make trading easier and more transparent, offering six account types within two simple plans. As a no dealing desk (NDD) broker, Vinson Financials offers STP accounts for those seeking exceptional execution speeds and superior pricing as well as fixed spreads for traders who prefer no slippage and tighter controls on their trading.
Vinson Financials also provides attractive terms for partners, including introducing brokers and white labels.
Senior Manager, Victor Zachariades, explains: "Our team has a number of years in the industry, and our vision was to create a better client but also partner experience, providing unique benefits, to build trust and enhance partnerships."
Vinson Financials provides turnkey partner solutions combined with coaching, consultancy and competitive escalating rebates and commissions, which have contributed to its recognition as a leading player in industry partnerships.
"Our VIP Partner package offers a sophisticated plan with high tech automated payout features, facilities for monitoring client performance, rebates and commissions, as well as marketing support, including custom websites and full training on cutting-edge platforms," says Zachariades.
Education is also a key aspect of Vinson Financials' trader offering. "We believe that an educated trader can make informed trading decisions, allowing them to capitalize on market opportunities and maximize returns," says Kenny Simon, Head of Asian Markets and FX Training. "Aside from our extensive online resources, we have seminars in locations around the world, interactive one-on-one training, customized seminars, training programmes as well as platform walkthroughs for traders," says Simon.
Zachariades continues: "We believe that fairness and transparency along with fast execution, competitive pricing and superior education provide the best trading experience, making clients loyal to us as a broker. At Vinson Financials, we will continue to build this foundation of trust between us, our clients and partners."
Traders Join Exodus as Forex Probes Add Pressure on Costs
The foreign-exchange market is losing a slew of traders from big banks as a probe into alleged manipulation of benchmark rates widens and pressure mounts on the industry to reduce costs.
More than 30 traders from 11 firms have been fired, suspended, taken leaves of absence or retired since October, when regulators said they were investigating the market, according to data compiled by Bloomberg. London-based Barclays Plc (BARC) and Zurich-based UBS AG (UBSN) have been the worst-hit, each suspending at least half a dozen employees, the data show.
“That’s a considerable percentage of the workforce,” said Brad Bechtel, managing director at Faros Trading LLC in Stamford, Connecticut, who estimated the world’s largest banks have 80 to 160 voice traders for spot rates in the currencies market. “That explains the lack of liquidity in the market, and why what would normally be considered a small trade can actually push the market around more than normal.”
Regulators around the world are investigating allegations traders colluded to rig key foreign-exchange benchmarks used by investors and companies by pushing through trades before and during the 60-second windows when the WM/Reuters rates are set. At the same time, banks are trying to fight shrinking margins by replacing humans with computers, accelerating a longer-term shift in trading onto electronic platforms.
About 200 traders at smaller firms focus on spot exchange rates, Bechtel estimated in an e-mail.
UBS gained less than 1 percent to 18.40 Swiss francs today in Zurich. Barclays rose 0.8 percent to 252.2 pence in London.
‘The Mafia’
Authorities are examining whether bank traders communicated with dealers at other firms and timed trades to influence benchmarks and maximize profits. Some exchanged information on instant-message groups with names such as “The Cartel,” “The Bandits’ Club,” “One Team, One Dream” and “The Mafia.” No firms or traders have been accused of wrongdoing by government authorities.
Regulators from Bern, Switzerland, to Washington opened inquiries into the $5.3 trillion-a-day market after Bloomberg News reported in June that traders colluded to rig the WM/Reuters rates. No firms or traders have been accused of wrongdoing by government authorities.
Chris Ashton, global head of spot trading at Barclays, was suspended last year along with other spot traders at the bank in London and New York. New York-based Citigroup Inc. (C) said in January it fired its head of European spot trading, Rohan Ramchandani.
Personal Reasons
While many personnel moves were prompted by the probes, some people pointed to other motivations while stepping back.
Lloyds Banking Group Plc (LLOY)’s global head of spot foreign exchange, Darren Coote, resigned from the London-based firm for personal reasons, people with knowledge of the move said earlier this month.
James Pearson, Royal Bank of Scotland Group Plc’s head of trading for currencies in Europe, the Middle East and Africa, is taking a five-month sabbatical, also for personal reasons, the Edinburgh-based company said this week.
Deutsche Bank AG (DBK) said this week that its global head of foreign exchange, Kevin Rodgers, will retire in June. Rodgers, 52, plans to focus on academic and musical interests, according to the Frankfurt-based bank. His decision wasn’t prompted by the inquiries, according to a person briefed on his plans.
KCG Announces Trading Results for June, ITG Releases Liquidity Estimation App
By Forexminute - Yashu Gola | Forex Industry News | Jul 15, 2014 11:09PM BST
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KCG Holdings Inc. published trade volumes for the month of June on Tuesday.In terms of market making, KCG posted an average of $23.5 billion in transaction volumes, which is 8.2 billion shares and 3.4 million transactions per day in US stocks, a notable decline from the volumes recorded in May.
The company recorded $0.6 billion more, totalling $24.1 billion, singling out KCG as one of the few companies that posted poor results contrary to its peers in the institutional and retail electronic trading who posted higher transaction volumes in June.
KCG BondPoint on average stood at $129.4 million daily in fixed income par value, much lower than May’s reading of $130.7 million daily. In June as a whole, the consolidated U.S. stock volume on average stood at $227.3 billion and 5.8 billion stocks traded each day.
In the meantime, leading research and execution brokerage ITG launched its ITG FX Trading Cost Index Application on Tuesday. The app, which is targeted at portfolio managers and forex traders, is updated on a daily basis. The ITG FX Trading Cost Index approximates the cost of liquidity for twenty currency pairs, considering the notional trade value and the intended trading time.
“The ITG FX Trading Cost Index Application is the first of its kind in the foreign exchange space, leveraging the power of ITG’s industry-leading FX transaction cost database,” Ian Domowitz, ITG Managing Director and Head of Analytics, said in a press release. “The app is a free and easily accessible reference tool for investors who want to quickly check estimated FX trading costs.”
The index will also provide users with dealer and ECN estimates using historical costs and smoothened out for implied volatility and recent trends in costs.
More...
How to Choose a Forex Broker
Are you ready to open a live account and trade real money with a forex broker? Take a look at these factors you should consider in choosing a forex broker.
The forex industry is a fast-growing one and there’s an overwhelming amount of brokers that are already in business or are setting up shop. The sad truth is that not all of these forex brokers are doing honest business, as some may be “bucket shops” or scammers that are out to take your money.
Make sure you’re depositing your hard-earned cash with a reputable forex broker by choosing one that is regulated by the CFTC (Commodity Futures and Trading Commission) when in the U.S. or other regulatory agencies in offshore brokers. In Australia, ASIC (Australian Securities and Investment Commission) is in charge of regulating forex brokers in the country while FSA (Financial Services Authority) regulates those in the U.K.
It’s important to conduct business with a regulated forex broker because they are required to keep clients’ money separate from company funds and are also required to comply with capital requirements. Regulatory agencies make sure that brokers always maintain sound financial structure and that their employees are supervised against unlawful activities.
Another important factor to consider when choosing a forex broker is its customer service. Since most brokers offer online platforms and are open for trading 24 hours a day, their customer service should also be easily accessible online at any time of the day. This is because you might be opening an account with an offshore broker and might need to talk to customer service to settle account issues outside of office hours in their area.
In addition, having a reliable customer service builds good trust between a forex broker and its clients. You should be able to contact them easily if there are disputes regarding your trades executed or orders that aren’t filled.
Lastly, reviews from other traders definitely help in finding out about a broker’s reputation. After all, they’re the ones who have already had experience trading with that particular broker you’re considering so it’s best to get information first-hand from their reviews. They may have a few things to share about the broker’s quality of service, ease of using the platform, slippage, or bid-ask spreads.
There are several resources online that display these reviews on various forex brokers. A little research goes a long way when it comes to making sure that your funds are secure and guaranteed from fraudulent activities.
Platform diversity down under: Pepperstone set to launch MetaTrader 5
Australian Forex broker Pepperstone is building its portfolio of online trading platforms and has unveiled plans to roll out Metatrader 5. The name of MetaTrader 5 has appeared in the list of platforms supported by Pepperstone with a promise that the release is “Coming Soon”.
Such a move makes some sense when considering the more recent steps taken by Pepperstone, particularly its targeting of Russia and the Commonwealth of Independent States. Earlier this year, Pepperstone opened an office in Odessa, Ukraine, and launched a dedicated Russian-language website for its services. The website is gaining more functionality and also markets the pending launch of MetaTrader 5, which is well known in Russia in contrast to its relative scarcity in other jurisdictions in which most firms have stuck firmly to the ubiquitous MetaTrader 4 platform.
Admiral Markets continues to cast its net wide, prepares to launch MetaTrader 5
Admiral Markets’ Financial Conduct Authority (FCA) licensed British operation is engaging in a degree of platform diversity, having recently made a subtle indication toward the imminent offering of the somewhat under-subscribed MetaTrader 5 platform.
The company added a ‘coming soon’ tab to its Trade Forex, CFDs, metals & more with authorized online broker - Admiral Markets website, denoting the MetaTrader 5 platform as its next addition to its range of front end systems.
In preparing to add MetaTrader 5 to its armory, Admiral Markets is making steps toward further providing platforms for all audiences, despite its London location, in which retail electronic trading companies are usually notable for their use of in-house CFD and spread betting platforms which are specifically suited to the domestic market.
Admiral Markets added Spotware Systems’ cTrader platform in May this year, which became available across Admiral Markets’ Cyprus-based business, and the company has demonstrated further efforts to diversify its offering more recently when it rebranded its British Virgin Islands registered division to MTrading, and began to offer accounts with a 1:1000 leverage ratio.
Forex and CFD broker comparison Table
(Last updated on 27 August 2014)
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InstaForex Review: Not That Good of a Broker
Quick Summary: This is not that good of a broker, and I say that mainly because they didn't return my money. Their spreads are also very wide, and their customer service is lacking for those who are not fluent in Russian. They are clearly targeting gamblers looking for fun more than serious traders.
Spreads & Instruments: The instrument list is impressive, with over 233 spot instruments and 72 currency options. 107 currency pairs, 85 single stocks and equity indices, plus commodities and bitcoin. In my opinion this is most likely a primarily B book broker who is probably relying on taking the opposite side of their clients trades as their primary source of revenue. They list their EURUSD spread as 3+ pips, which is higher than many brokers, and my experience trading with them confirms that they have higher spreads and higher rollover costs than many other brokers. As I typically trade on the daily timeframe, I’m not as sensitive to spreads as many other traders operating on shorter timeframes are, but even I noticed they were a bit wider and more expensive.
Pros: They are targeting the gambler portion of the market, and I think they are the most honest and unabashed about it. From the bright red design, to their use of selling sexual charisma, and their 1000:1 leverage with plenty of chances to win prizes, they are clearly about having fun and selling risk. This is clearly not for serious traders.
http://youtu.be/5TdlZlNCl7s
Alpari UK: 5 brokers already reportedly showed interest
Following the SNBomb, Alpari UK got into deep trouble and went into administration. Since the initial news broke, there were various reports of bidders for the troubled broker.
The number of parties interested has already reached 5. Some are still active and some probably aren’t. The initial attempt to find a buyer for the company over the first few days failed and the company went into administration. Here is the list
One question remains: is the interest real or is the publication about the interest to buy Alpari UK just a publicity stunt to show that the bidding broker is powerful?
If a deal indeed goes through with administrators KMPG, we will at least know there was one bidder that was serious all the way.
For the traders that have accounts with Alpari, the retrieval of money deposited with the firm.
- ETX: “ETX has provided KPMG with a proposal to acquire assets of Alpari (UK) Limited. Over recent months ETX Capital has acquired Shelbourne markets and Ariel Communications and is continuing to expand its business aggressively both through organic means and acquisitions. As a profitable, FCA regulated firm offering multiple trading platforms and over 6,000 markets, ETX Capital considers itself to be one of a small number of firms able to complete this acquisition while at the same time protecting Alpari’s customers from losses. During the recent turmoil in the FX markets, ETX Capital’s active risk management helped the firm to fair extremely well and January is expected to be another profitable month for the firm.” via LeapRate
- OANDA: Forex Magnates reports: “The move would expand the business of OANDA across the UK, the Middle East and North Africa region, where Alpari UK has been performing particularly well. For the time being, no information about the prospective offer put on the table has been obtained by Forex Magnates”
- Iron FX: “Iron FX says it understands that court cases pending between Alpari UK and its majority shareholder” Forex Live reports.
- Pepperstone: We covered this story here, and it was originally published in the WSJ over the weekend. The broker is based in Australia
- FXCM: The US based broker that has trouble of its own, was the first to show interest according to Forex Magnates. We covered it here.
the source
This is the list of the brokers - attached, or it is available on this website
Russian retail Forex traders are broadly unsupportive of the leverage cap of 1:50, outlined in the Forex law, a recent survey has shown.
In December 2014, Russia’s “Centre for Regulation in OTC Financial Instruments and Technologies” (CRFIN) conducted a survey amid retail Forex traders in the country, asking them to voice their opinion on the maximum leverage limit set by the lawmakers. The list of questions covered matters like who should be responsible for determining leverage limits and what should the optimal cap be. The results of the survey became known earlier today, with the overwhelming majority of respondents viewing a cap on leverage of 1:50 as too strict and, instead, supporting way higher levels of up to 1:500.
Meager 6% of those surveyed said they approved a maximum leverage limit of 1:50. The bulk of respondents supported more generous leverage. The optimal maximum leverage should be at 1:100, according to 25% of respondents, and at 1:200, according to 26% of the respondents. The favorite maximum leverage level for 30% of those surveyed is 1:500.
You can view details below:
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At least 38% of the respondents disapproved of the narrowing of the current level of leverage they use. These percentage of respondents claimed that such a move would have a negative effect on their trading results. And yet they do not expect that a leverage cut would lead to a massive outflow of participants from the Forex market. The survey also showed that Russian FX traders seek as much freedom as possible when it comes to trading conditions.
Whole 47% believe that the maximum leverage level should not be stipulated in a law or by a regulator, and that instead traders should determine the leverage cap they need. A more humble portion of the respondents – 27%, approved the idea that the law should determine the leverage cap. Only 17% said the self-regulatory organization should set the leverage limit, while 9% said this right should be given to Forex companies.
Approximately 1,500 traders took part in the survey. The chapter of the Russian Forex law that imposes a leverage cap of 1:50 on Forex trading comes into force on October 1, 2015. The Bank of Russia is allowed to raise that level to 1:100 when it sees fit.
the source
The Top 10 Forex Brokers Regulated In The UK
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In January 2015, forex broker Alpari UK applied for insolvency after the Swiss National Bank's surprise decision to abandon the peg against the euro. The event put the spotlight on forex brokers and their regulation, especially in the United Kingdom. In this article, we'll review the leading forex brokers in the United Kingdom and the basics of how they are regulated.
With daily trading volume of over $5 trillion a day, the foreign exchange market, also called forex or FX, is the world's largest market. The size and deep liquidity of the forex market, along with 24-hour trading 5 days a week, make it an appealing choice for traders. (For a step-by-step guide on everything you need to know on currency exchange see Forex Walkthrough).
However, unlike stocks and commodities, forex trading has no central exchange or clearing house. The lack of transparency in the FX market has left it vulnerable to numerous instances of malpractice and manipulation. In the United Kingdom, the Financial Conduct Authority (FCA) acts as a watchdog to ensure fair and ethical business conduct. FCA-regulated forex brokers must adhere to a number of industry standards. Of particular importance is the FCA requirement that firms keep client funds separate from company funds. These segregated deposits cannot be used as company assets if the brokerage firm becomes insolvent.
The January of 2015 event involving the Swiss National Bank (SNB) underscores the importance of using a broker that is regulated by the FCA. Totally unexpected events, sometime referred to as black swan events, can happen at any time and cause chaos. The financial markets were thrown into turmoil by the Swiss decision and a number of forex brokers suffered severe losses with some going bankrupt. Fortunately for the customers of Alpari UK, the firm was regulated by the FCA.
The following ten FCA-regulated forex brokers are listed in no particular order based on factors including financial stability, execution quality and trading platforms available. In choosing among them one might consider preferences such as markets available, execution software, and the competitiveness of spreads.
- OANDA: The Canadian-based foreign exchange company offers competitive spreads, as low as 1.2 pips in EUR/USD. Along with their own fxTrade platform launched in 2001, Oanda offers MetaTrader 4.
- Interactive Brokers: Greenwich, Conn.-based Interactive Brokers offer direct access to interbank forex quotes and operate using an Electronic Communication Network (ECN) market structure.
- City Index: Established in the UK in 1983, City Index offers forex trading, along with CFD's and spread betting. The MetaTrader 4 platform is available with added tools and features.
- FOREX.com: Owned by parent company GAIN Capital. Operating since 2001, FOREX.com was a first mover in bringing currency markets to the retail trader.
- FXCM: Exchange listed FXCM offers a no dealing desk model along with competitive spreads. The firm offers trading in a wide variety of currencies including the Chinese yuan.
- FxPro: Founded in 2006, London-based FXPro is an online broker offering forex trading along with CFD's. MetaTrader 4 and cTrader trading platforms are available.
- IG Markets: Founded in 1974 as a spread betting business under the name IG Index. The firm offers trading in pairs including EUR/USD, AUD/USD, and USD/JPY with spreads as low as 0.8 pips.
- CMS Forex: The proprietary VT Trader platform offered by CMS Forex allows you to trade directly from the chart and provides multiple technical indicators.
- ActivTrades: Established in 2001, ActiveTrades offers forex trading in mini and micro lots, a diverse product offering, and competitive spreads.
- HY Markets: In business for 30 years, HY Markets provides multiple trading platforms and a wide variety of trading instruments. HY Markets a division of the Henyep Group, a global conglomerate with a presence in 20 countries.
the source
Not only the broker was in trouble. The reputation of the whole Forex industry suffered as it was rather famous broker in the market. I traded with Alpari and I remember being shocked when it became a bankrupt. Now I choose a broker to work with even more carefully than before.Quote:
Originally Posted by 1Finance
FreshForex Review
FreshForex has been working in foreign currency markets since 2004 and is now one of top Forex brokers in Russia. FreshForex offers trading in Forex and CFD markets and is licensed by KROUFR and CRFIN. The number of active traders at FreshForex increased more than twofold In 2014 compared with 2013.
Accounts
There are three different trading accounts at FreshForex—The Classic, MarketPro and the ECN. All of them can be opened with no minimum deposit. There aren’t any fees for deposits and no charges for conducting transactions.
A newly introduced ECN series has become available and accounts can be set up as an Investor or Master account. Investment and Master Accounts differ in that anyone with a Master Account can trade and attract investors. Traders with an Investors Account cannot trade, they can only invest to follow those with a Master's Account.
FreshForex ECN Account
How does a FreshForex ECN account work
A Swap Free is a special account on which swap payment is not collected. On rollovers traders pay only a fixed commission which is not tied to interest rates. The Swap account is beneficial for both adherents of the Shariah laws and traders working on long-term strategies. There is a fixed commission per traded lot.
A demo account is also available but there were no details provided on the site.
Features
FreshForex offers traders a host of attractive features including a narrow floating spread from 0 pips, instant market execution from 0 sec, ECN accounts with commissions as low as 0.003% and flexible hedging with "Smart Bridge Technology", which provides NDD execution and accurate quotations.
The "Smart Bridge Technology" (SBT) system is a flexible and reliable mechanism used to hedge Forex trading risks, which allows FreshForex to work directly with several liquidity providers. The system monitors several channels of Forex quotes in a real-time mode, selects the best offer in the split seconds and ensures instant execution of an order at the best available market price.
FreshForex Smart Bridge Technology
How Smart Bridge Technology works
It’s always beneficial to read daily news reports on what is happening in the Forex markets around the world and FreshForex provides these as well as daily Forex market analysis and technical analysis on price movements in the major currencies. A weekly Forex forecast and a monthly news report are also available.
FreshForex Fundamental Analysis
FreshForex Weekly and Daily Fundamental Analysis
A listing of the current interest rates charged by different countries is an added bonus.
Education
FreshForex offers a unique seven step “Trader’s path” to successful trading. Each step consists of a question to be discussed and points out the ‘true goal’ and the ‘false target’ for each question. It goes on to explore the trader’s ‘State of Mind’ which is actually an analysis of what the trader could and should be thinking when exploring this question. I found this method of learning a refreshing change from the standard question and answer mode.
There are also interactive tutorials on several basic Forex topics and recommendations of professional literature a trader should read that would make his trading more successful.
The Forex encyclopedia, called the “Clever FX” brings traders to a listing of links to FreshForex’s articles on various financial topics and the glossary is an alphabetical dictionary of Forex terms and names.
FreshForex also runs what they call their “Huckster” shop where traders can purchase the best trading advisors, unique indicators and scripts by leading developers of Forex systems. Many of these products can be downloaded for free while others must be paid for.
Bonuses and Promotions
FreshForex is very big on bonuses and promotions and offers several.
Anyone making a deposit of $200 and more receives a bonus of 25%; $1000 draws a 35% bonus. There is a maximum of $5000. This offer expires on May 26th, 2015. In addition, traders bringing their accounts over to FreshForex from other brokers receive a 50% bonus on their deposits up to $5000.
An additional bonus, the "Bonus 101%", is awarded for a deposit of $100 and more. And on top of that, with the second and all further deposits from $100 the deposit grows for +33%!
When doing this FreshForex review, the ‘Battle for Profit’ Tournament was being held. This is a new contest where 10 traders can win prizes from $1500 and up for showing the highest gains in their account. The first prize is $25,000 and the second prize is $10,000. All the winnings go directly to the traders’ accounts and they can use it for more trades in their account. The list of the winners as well as the top 20 participants is posted on the FreshForex site.
There is also a promotion referred to as a “Spreads Return” where clients receive up to $10 per each lot of profit or loss-making trades. Traders can choose one of the two rebate options and receive extra income on all trading instruments including CFDs on oil, index and stock. This promotion ends on April 30th, 2015.
Deposits/Withdrawals
Deposits at FreshForex can be made through more than 20 different payment systems and tools including credit and debit cards, Skrill, WebMoney, bank wire and more. FreshForex charges no fees for deposits and offers a unique payment instrument, the "FreshForex MasterCard."
Withdrawal applications are completed within 10 minutes, with an average time of less than 5 minutes.
Customer Support
FreshForex is located in the Russian Federation and the customer support representative sits in their Moscow office. Traders can contact customer support via email or online chat Monday through Friday from 10:00 to 19:00 local time.
Conclusion
FreshForex is a broker that has proven its worth over the last decade. It has been chosen as one of the top ten brokers several years running. With all its interesting features, there is no doubt it will continue to attract thousands of new traders and over time become the leading broker in the industry.
the source
I agree, 100hundredforexbrokers is a really useful site, especially for comparing forex brokers and reading user reviews etc. Once I've read about a broker and decided to open an account with them I quite often head over to bestbrokerdeals.com to see if they currently have any bonus promotions or offers running, although you should be careful with bonuses as sometimes the terms and conditions needed to qualify can be difficult to achieve.
What about IC Markets? I've heard this broker has targeted by DDoS attacks recently and many traders had problems with their trades.
Types of forex brokers: ECN - STP - NDD - DD
Attachment 17735
DD - Dealing Desk: A dealing desk broker is a market maker. Market makers typically offer fixed spreads and may elect to quote above or below actual market prices at any time. Market makers are always the counterparty of the trader, who doesn't trade directly with the liquidity providers. Market makers get paid through the spreads, and they usually also take the opposite trades of their clients prior to covering themselves (or not) with regards to the liquidity providers.
NDD - No Dealing Desk: An NDD forex broker provides direct access to the interbank market; it can be an STP or STP+ECN broker (see below for STP and ECN broker definitions). With a genuine No Dealing Desk broker, there is no requoting of prices, which means that you can trade during economic announcements without any restrictions. The spreads offered are lower, but they are not fixed, so they can increase significantly when volatility is increasing during major economic announcements. An NDD broker can either charge a commission on each trade or choose to increase the spread.
STP - Straight Through Processing: In STP mode, transactions are fully computerised and are immediately processed on the interbank market without any broker intervention.
ECN - Electronic Communication Network: ECN brokers provide and display real-time order book information (featuring the orders that were processed and the prices offered by banks on the interbank market). They thereby improve market transparency by providing information to all market participants. ECN brokers usually make their money by charging a commission on the traded volume. With ECN brokers, all transactions are directly processed on the interbank market in No Dealing Desk mode.
MTF (Multilateral Trading Facilities): An MTF exchange ensures that buyers and sellers of financial instruments can come together according to non-discretionary rules. An MTF is not a regulated exchange, but it operates under the same rules. MTF rules are transparent and ensure a fair trading system. The broker guarantees price efficiency and the clearing of transactions. Compared to a traditional exchange, a multilateral trading facility provides greater discretion, faster order execution speed and reduced brokerage fees.
the source
For brokers:
Two threads only are allowed to open on this forum (2 threads per broker) -
- one thread is on this section http://newdigital-world.com/forex-brokers/ (general news or whatever), and
- the other thread with technical analysis, analytics or similar.
For information.
Choosing a forex broker is not an easy task. As there are hundreds of forex brokers present there, one could say that the forex traders are spoilt for choice. However, that is not really the case since picking a wrong broker could spell doom for a trader. It’s a matter of trusting somebody with your hard-earned money; so absolutely no lapse of caution could be permitted in this area. Below are described some of the criteria by which a forex broker could be chosen:
The first thing you need to bear in the budget with which you’re going to enter the field. Your resources, risk capital (i.e. how much of your hard-earned money you could afford to put at stake), trading style, everything need to be carefully analysed and put under scrutiny, if you’re to find the broker who suits you the most. Different brokers require different amounts of down capital for trading, so make sure you select one who can offer you the amount that you can make do with.
The kind of ‘lots’ a broker offers is an important point. In case you’re low on budget, you should be trading in micro lots; and also hire a broker who deals only in micro lots. Similarly, traders who prefer to trade mini or standard lots, they need to find the trader who deals in those respective lot categories.
Make sure that the brokerage firm does not have any restrictions regarding the amount that you are allowed to have in a micro or mini account. If you’re a ‘standard lots’ trader, then you will be able to trade in mini and micro lots freely.
If you’re a scalper, then you need to find out whether your prospective broker would allow it. A good number of brokerage firms are averse to scalping, so make sure that you have your broker’s permission in written.
The brokerage firms must have real tight spreads if you’re aiming to do multiple trades in a day. Keep in mind that the bigger the spread, the higher would be the cost. So you should gauge your trading strategy and numbers in accordance to the amount of money you can afford to spend. The greater the number of spreads, the more money you would be spending.
Finally, the process of depositing and withdrawing funds in and from the accounts should be easy. You should know the rules for depositing money in a particular brokerage account, and whether there is any minimum amount and specific method of deposition that one is required to follow. Many brokerage firms have a law that in case you make a deposit by a credit card, then you’d be required to only withdraw the same (or less) amount as the one you’d deposited.
So, keep all of the above in mind, and you’re good to go.
I offer to look closer at Freshforex. The company has been successfully operating for 11 years. Here it was recently named the best broker in Asia, and technical support was also awarded as the best tech support unit. And this broker will fit those who love regular bonuses and competitions with a big reward. Right now they are running "Grand contest" contest, where you can get a BMW x6 M for the first place!
MetaTrader 5 strengthens its positions in Pakistan: four TOP 10 brokers use the platform
Attachment 21346
"In 2015, we reported on the first broker launching MetaTrader 5 in Pakistan. A year later, four out of ten leading brokers offer the platform according to the Pakistan Mercantile Exchange (PMEX). The most remarkable thing is that MTG Financials Limited implemented MetaTrader 5 in February 2016 and found itself among the five leading brokers of Pakistan by May making an impressive leap forward in just three months!"
read more here
How to Find Honest Forex Broker Reviews
Attachment 21561
A. CREDIBILITY
As we know that, reputation is playing very vital role when we are hiring forex brokers. Although you would not really use their services in terms of marketing yourself and you must make sure that you are not partnering with a run off the mill type of broker who cannot provide you with outcomes. You also must have someone whom you can trust enough with your transactions and even some vital confidential business information.
B. NETWORK
Your main goal of hiring a forex broker is to expand your business. Through online forex reviews, you can easily spot the industry names when it comes to forex brokering. You will know who’s who in the trade and the people who have made quite a number of following and transactions throughout the span of their career.
C. EXPERTISE
Reviews about forex brokers would definitely dissect the credentials of the person in discussion. After all, that’s what reviews are for. It aims to discuss the advantages and disadvantages when it comes to particular subject in term of its features. Reviews about forex brokers give you a better understanding of the professionals alongside their field of expertise and so you can identify if their expertise fits well with your business.
But given these pros, you must also place careful observance when reading forex broker reviews. Make sure you select those that are reputable enough and have been written by professionals themselves and remember one thing reviews are based on opinion and experience.
the source
Everybody has different reasons. In spite of good trading strategy, I had problem with drawdown because my broker Instaforex often canceled some deals. Sometimes I had margin call from this. But on my complains it didn’t react because it was according their rules.
What do you think about this?
REAL Brokers Reviews - Your Free Independent Forex Source
The FX Trading Revolution is on the side of retail traders and is also here to provide other traders with the possibility to explore the truth about FX trading they should never know. The FX Trading Revolution team has tested hundreds of retail brokers around the world and you can see real account results below.
You will find only unbiased and true information here - the team FX Trading Revolution is not an Introducing Broker or Affiliate partner of any brokerage companies.
Criteria of the tests
We had to keep a lot of criteria in mind during our extensive and complex tests of brokerage companies on real trading accounts. However to summarize, our four main criteria are:
Regulation and capital security
Trading conditions - especially trade execution (slippage) has a high priority as this is an extremely important factor for every trader (for more information - take a look at our Brokers Truth page)
Other trading conditions (spread / commission / swaps etc.) and technologies (stability, latency etc.)
Trading deposits and withdrawals - especially the duration of transactions
Mainly based on the criteria above we have created a list of FX brokers. To make the list as clear as possible, we show only a star review and a place in the first real accounts brokers reviews by the FX Trading Revolution team. We have tested hundreds of brokers around the world and in the table below we show top 25 brokers based on the number of clients.
FX Revolution Rank
1
Brokerage
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Axiory Europe
Real results*
30 768 USD
Review
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Excellent trade execution!
2
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LMAX
26 251 USD
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Very good trade execution.
3
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ATC Brokers
25 897 USD
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Very good trade execution.
4
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FXOpen
23 970 USD
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5
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Pepperstone
24 254 USD
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6
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Swissquote
21 056 USD
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7
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IC Markets
19 547 USD
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8
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Octa FX
19 784 USD
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9
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Dukascopy
15 239 USD
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10
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InterbankFX
21 056 USD
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11
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FXCM
14 520 USD
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12
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Oanda
13 748 USD
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13
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Hantec Markets
12 196 USD
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14
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ETX Capital
10 369 USD
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15
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FXPro
7 980 USD
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16
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X-Trade Brokers
6 580 USD
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17
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XM.COM
6 123 USD
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18
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Exness
2 147 USD
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19
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FXTM
125 USD
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20
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Saxo Bank
- 2 478 USD
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21
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FXDD
- 1 569 USD
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22
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HotForex
- 3 650 USD
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23
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Markets.com, Forex.com - 5 940 USD
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24
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Iron FX
- 9 690 USD
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25
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InstaForex
- 7 866 USD
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*Real results: results achieved on real accounts with exactly the same trading strategy.
ECN Forex brokers, best brokers for scalping and news trading.
fx-brokers-review.com
Attachment 24671
Playtech acquires CFH Group for $120 million
Online gaming technology company Playtech PLC (LON:PTEC), which was unsuccessful last year in its attempts to buy Retail Forex brokers AvaTade and Plus500 is once again attempting to increase its footprint in the FX world by agreeing to acquire institutional Forex player CFH Group for $120 million.
Binary Options industry association EUBOA holds meeting #3.
the new binary options industry association EUBOA held its third board meeting last week, this time in Israel. The first two EUBOA meetings took place in Cyprus.
LCG issues 5 million shares to new brand ambassador Stan Wawrinka.
UK online trading firm London Capital Group Holdings plc (LON:LCG) has made a regulatory filing indicating that ATP World Tennis #3 player and reigning US Open champion Stan Wawrinka has been issued 5 million LCG shares as part of his association with the company.
EZTrader.com has another tough quarter: $3.2 million Q3 loss, Going Concern doubt.
Another rough quarter at Binary Options brokerage group EZTD Inc, which seems to somehow keeps raising more money to stay in business.
Israel’s ISA hands out first-ever Binary Options Broker fine.
Israel financial regulator the Israel Securities Association (ISA) has handed out its first-ever fine to a Binary Options broker, for engaging in unregulated binary trades with Israeli clients.
the source
European stocks are turning down today, which may have something to do with possible recount of the US elections votes. If this would happen then obviously democracy would be shaken hard in general, which is not positive for stocks.
Attachment 24770
However, technically it can be only the first Monday reaction, moves that are not build on “real money flows”, so it can be just a temporary sell-off. I am tracking an a-b-c down on DAX which can be now moving into final stages of this set-back with support seen around 10500-10550.
more...
I would never ever trade with such brokers as GrandCapital and Exness. They both turned out to have hidden rules in the trading conditions and moreover they change them right on fly, so the clients lost a lot of money.
