Topic: Best Forex Broker

To Trade with Best forex broker it is ToTradeFx. Who offers low spread and high leverage for the trader offers ultra tight spreads for the trader to give him profit.

Re: Best Forex Broker

In my own personal opinion, I think sharing of tips that would help us become better traders in all aspects would be welcome.

I think to be successful, we need a holistic approach.  Be it the selection of brokers, strategies, tools, tips for money management. etc any thing that can help one another to find success in our trading experience.  We need to examine the motivation of the person who recommend instead of a blanket rule and create "taboo" subjects, that is helpful to traders but yet cannot talk about for fear that people/sales person would exploit this "loop holes".

There are so many terrible brokers that we need to warn each other and when we do find a reliable one (rare and hard to find), I think it is good to also share.  How much money should I put into different brokers to try and see whether they are good or scam?  How many times must I keep opening and closing accounts with brokers just to test them out?  Now if I don't based on others reviews and recommendation, then how many times would I have to keep trying each and different one to see whether they are good (when I could learn from others 1st hand experience).  Hence, I feel that sharing such experience would be useful to traders and help others from making the same painful and costly mistakes.  No point warning me that there are many scam brokers out there, how naive we are, how they lure us etc, when no one want to mention who they are (and help us wise up).  If someone found a good reliable broker, naturally I would like to know more about it.  Wouldn't that help?  If we restrict such sharing, who is going to benefit?  Of cos the scam brokers, because the lesser people know, the better it is for them (more gullible traders to scam).

If Popov or someone knows which broker(s) live data works well with FSB demo data, I would very much want to know.  Because getting a complementary brokers that works well with FSB demo data is very crucial to FSB users' success too.  It takes two hands to clap.  Imagine, after working so hard for our EA development, only to find out that my EA doesn't work well with any of the brokers I know, in the live account.  It would be labouring in vain. 

Of cos I'm against those who peddle for their "goods" here for sales because their opinion are bias to start with and they are not genuine customers and we usually hates and distrust such commends.

Likewise, we encourage FSB users by word of mouth to mention FSB in blogs, other forex community websites, whereby other traders would also find out more about FSB as an excellent trading tools.  Now if such action is also deem as "sales" pitch then MyFxBook would have ban me from recommending FSB to their users too.  Such restrictive sharing only going to hurt forex trading community because we deprive one another of useful tools/information that would enhance our trading performance/results/experience.  We need to be wise to tell the difference between genuine sharing that is helpful from "sales" pitches and exercise the necessary rules/discretion to prevent the latter (sales pitches) without compromise/restrict the quality of sharing helpful tips and tools.

Re: Best Forex Broker

I personally would use JFD Broker.  I'm able to transfer statistically profitable EA developed via FSB to JFD demo and live account.  There are some brokers, when I run my FSB developed EA, I can't replicate these FSB statisticall profitable EA results in their demo account.  Whereas with JFD, I can do it.  I'm just sharing my experience, to help FSB users narrow their search.  Please do your own testing and observations, don't take my own personal experience as guaranteed results.

I'm not promoting or marketing JFD for personal gain, I'm just sharing what I know or reasons for my choice of brokers.  Since I read recent post by FSB users asking for reviews of brokers we know.

Here is some description or JFD's business philosophy or business ethics, taken from their website.

100% MiFID Compliant Post-Trade Transparency
Every single one of our Clients’ orders are systematically Straight Through Processed to our Liquidity Providers on a "Fill or Fill" basis (i.e. no requotes) with both positive and negative   Slippage enabled (i.e. no broker intervention). We pride ourselves for being able to provide upon Clients’ requests all relevant Post-Trade Execution Reports presenting Execution Times (often averaging sub 2 milliseconds) and naming which Liquidity Providers filled our Clients’ orders.

Without any exception or differentiation, our clients benefit from a unique “one-for-all” Institutional Pricing and Core Spreads structure (i.e. no price manipulation), all applied to a comprehensive Multi-Asset Class package providing a Straight Through Processed Direct Market Access (i.e. no execution manipulation) to 15+ Tier 1 Liquidity Providers and 80+ Exchanges. Such specifications have been proven to increase Nominal Trading Volumes and Traders’ Profitability overtime, while significantly reducing Trading Costs, which is specifically what we aim for.

100% DMA/STP Agency Model
Unlike Market Makers (including those promoting Non-Dealing-Desks - NDD, Straight Trough Processing - STP, or Electronic Currency Network - ECN models) JFD Brokers does NOT run any dedicated dealing desks to constantly monitor its financial position and set appropriate risk limits.
In effect, any Broker claiming an STP/NDD/DMA/PRO offering, may nevertheless “Make the Market” even if only partially (i.e. STP 50% of clients’ orders and make the market on the other 50%). In theory, there is nothing wrong with this configuration as long as the Broker runs an ethical business. In practice, Regulators such as the NFA and the FCA have both demonstrated condemnable practices conducted against clients’ interests by brokers claiming STP/NDD operations. The temptations to manipulate pricing and execution to the sole interest of the broker’s bottom line remain systematic.
Full or partial Market Making Brokers are systematically exposed to risk, as if a larger proportion of their clients are in profit, they may not be able to meet their financial obligation to pay all clients which may possibly lead them to bankruptcy. This is precisely why Regulators do systematically require Market Makers for high capital requirement and greater control in order to cover the risks inherent to such business models. This is also why Regulators are constantly monitoring retail clients’ interests against all possible deviations such as stop hunting, price manipulation or execution manipulations operated by Market Makers.
We at JFD refuse to operate under such terms.
It is important to note that unlike the vast majority of Retail CFDs and FX Brokers, JFD Brokers deliberately chose NOT to be authorized to conduct the following activity: “dealing on own account”. The activity of “dealing on own account” authorises Retail Brokers to Make the Market by taking the opposite side of their clients’ trades, hence creating a systematic conflict of interest.
Both CySEC and FCA Registers present the different levels of license/permissions held by Retail Brokers.

Re: Best Forex Broker

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Re: Best Forex Broker

I think the best forex broker will vary from person to person. The most important factor in this is investor's trading strategy. If your trading strategy is appropriate for the type of account provided by the broker, you can be successful. For example; Plus500 is highly reliable and is a broker that is regulated by reputable regulators. But it only offers one account type. Plus500 account types are not adequate for many investor types, for example scalpers. However, the variety of account types in SPAM is considerable. But the regulation of SPAM is not strong. Brokers such as XM, Pepperstone or IC Markets have both account type diversity and strong licenses. When we look at the XM Forex broker reviews, we see that it is generally positive.