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View Full Version : Which Forex Broker to use?



Bri4n
12-04-2010, 11:30 AM
Hi there,

I'm looking at getting into Forex trading and am considering which broker to go through. I have spent the past couple of days going through reviews and looking at different brokers. I know that this is quite a subjective issue, and everyone has their preferred broker.

I would appreciate it if you guys could help me narrow down a broker that i can use. Here is the 'shortlist" I have compiled from the dozen or so I have looked at over the past couple of days:


Finexo
Marketiva
FXCM

I am also considering eToro and AVAFX

I have read real bad reviews about AVAFX (hard to get money out of once one has made a profit, profits disappearing, etc) and so i think i might give them a miss (has anyone had any dealings with AVAFX? if so let me know what your experiences are).

I am also concerned that eToro looks like a bit of a scam ( I could be wrong, feel free to let me know what you truly think of eToro)

As I said, this area is highly subjective, but there is some objectivity involved. (i.e. good customer service, good reputable firm, good integrity, how easy their software is to use, etc.) Any comments, experiences, etc. about any of the brokers listed would be greatly appreciated. I know that Marketiva and FXCM have freephone numbers within NZ which is a plus.

I appreciate any feedback!

TIA
:)

peat
12-04-2010, 01:44 PM
you should search this forum (and of course the internet using google or bing) for any references to those brokers names. This forum has an advanced search feature so have a play with that
I've never seen the first two mentioned that I can recall
Theres one thread in particular you should read right through , it's called Brokers - the good the bad and the ugly.

One subjective way of evaluating a broker is determining its capitalisation as this is obviously a sign of its financial strength. No good in making a truckload of money in forex and then finding out they cant pay you.

oh and I should mention I use Oanda and though its charting is only average it is well capitalised and a reliable platform. Remember you dont have to do you charts/analysis with the platform you use to trade.