I am moving out of FXCM and have limited my choice of forex broker to the following three:

1. InterbankFX
2. North Finance
3. OANDA

Both IBFX and NF uses the same trade platform.
IBFX is rumored to do stop hunting. care to explain what this is?
OANDA seems nice but 1:50 leverage is too small and caters more for people playing with >$50K

Care to add more info on the above? I appreciate your inputs to guide my decision.
Thanks!

FXCM suck!

Add one more. FXDD.
This one attract me very much. I want some opinion from people that use this broker [with FXDD Trader and MetaTrader]

Yes, FXDD is another good choice. I depends on your needs.
If you need to use egold, North Finance is the only choice. IBFX has micro lots which are good if you have a small account. FXDD has the advantage of not being very large which apparently reduces lag during major news releases. I've not used them myself, just heard from others.

Neuimex is another MT4 broker which accept egold but I heard their spreads for micro account is too high. No live experience with it.

Just for information,here are some reviews of FXDD from forexfactory.
http://www.forexfactory.com/forexforum/sho...6030&page=4

Seems like not so good a review against FXDD... pulling the plug at 8:38 in the middle of NFP? its like FXCM's trade lockout.

I plan to fund my account via egold (some left over programs) and credit card. Seems like NF is the better option.

Question: Are you all able to place orders with NF during last NFP time? Were there any significant lag???

Does NF offer trailing stops? Oanda seems great but without trailing stops one has to be glued in front of his screen all day

During NFP I had some lag in closing my e/u long which resulted in a requote. However the requote was 15 pips higher so it worked out well for me My other two trades on g/u and usd/chf were both opened and closed on my specified targets however so all in all it was a fantastic result for me.
Bottom line is you will experience lag at times with retail brokers so until you can move to an ecn its something you have to live with. Trade lockout though is unacceptable.



I would imagine all MT4 based brokers have a trailing stop as it is a feature of the program.

The first time that NF lagged for me was last Friday with NFP.

I had a buy stop at 1.2825 and it got excecuted at 1.2840, so 15 pips higher.

Maybe because the price moved so fast and it was an order for 5 full lots (500k).

Anyway i still got about 35 pips on that trade, so not bad after all.

It is like Jafar said, we have to live with that or move to an ecn broker, like mbtrading that i am trying out on demo.

http://www.mbtrading.com/fx/default.asp

http://www.mbtrading.com/fx/comparison.asp



It is a different paltform then meta trader but it has more options in terms of order types and trailng stops.

The platform does not have charts like MT4, it focuses purely on order excecution, so combining it with NF and MT is a good option.

WOW! This is exactly what happened to me with FXCM! They litterally delayed my order!
I talked to some more friends using FXCM and heard more horror.

Usually, people would place Entry orders complete with STOP and LIMIT. What if the Broker places your order above your LIMIT, then the price went down touching your LIMIT, you ended up with a loss! This is exactly what FXCM has been doing and is now becoming very clear that my case, my friend's case as well as his other fellow FXCM trading buddies are all examples of FXCM cheating.

BTW. I also have another FXCM cheat they employ. When you place orders during heavy swings - an unusual message window will pop and linger on the platform thereby causing you not to be able to do anything on your order. The delay can spell catastrophe if the trend reverses/retraces. It happens to me during July's ADP release. It is another form "Trade Lockout"..

FXCM

To all FXCM account holders, better close and withdraw it than loose it. There is no point playing with a cheater!

Hm.. I never have problem with NF during the NFP news and hope never in the future.

I was suprised as well, it did not ended into a loss but it keeps me alert and drives me to add a second broker that is ecn based.

How about FOREX.COM? How do you rate this vs NF?

forex.com is trash.

Jafar, how many lots did you open to trade the NFP news? i wanna know if the execution speed differs as lot size gets bigger.

Why is it trash?
Is it because the platform suck?
Is it because the broker suck?


BTW. How soon can NF activate an account? I have completed the form and submitted passport + CC billing last Saturday; I was hoping they would activate my account by monday - but nothing happened.... wait further?

4 lots

Since you send the doc in weekend, you should wait more longer. Its better that you chat with support to faster the process. I help my friend to open an account in NF, Its took only 24hour to active and start to trade with money already on trading desk.

FXCM were advertised in Bloomberg I'm sure it's costly. They're regulated but I don't understand how can they do such thing. Can we lodge a complaint to CFTC or anyone?

These are FXCM's review found recently looks like you were right afterall

2006-2007 FXCM Reviews

# Visit Website

Everything was fine when I was losing money...and after I learned how to trede and I started to make alot of money FXCM put me on manual execution and you know the end of my story right...they forced me to close my account!!!!

Bunch of Robbers!!!

- Reviewed by eambrausa, July 29, 2006. Rating = 1/10
They make u think u in control when u losing money...........once u start making money they do everything to make u hate urself.......as far as changing ur excecution process to something horrible.

- Reviewed by tee, July 26, 2006. Rating = 1/10
I share the sentiments of many here. After a few weeks of making money, the dealer desk stepped in and took control of how I should trade. I am now ascertaining which brokers do not do this and there are several. I strongly advise against opening an account with these guys.

- Reviewed by Andy, July 20, 2006. Rating = 1/10
The lowlifes of forex trading. Nothing is beneath them to get money off you, they exist to fleece your account. Slippage, stop hunting, changing limits and stops, freezing platform in fast markets, placing you on manual execution when you start making profit, locking you out, not allowing trades to close with profit, price delays and skewing, incessant requoting... you name it. I'm surprised that such blatant swindlers and con artists can operate legally.

- Reviewed by iznogud, July 8, 2006. Rating = 1/10
Execution has been good so far and spreads are tight.

- Reviewed by cambist, July 8, 2006. Rating = 8/10
What most people say here is true, slippage is horrible.

- Reviewed by Krystek, July 1, 2006. Rating = 3/10
Won't let you in or won't let you out in fast moving markets. Accounts on dealer hold because they can't off set the trades fast enough. In really moving markets platform freezes up.

- Reviewed by 2wheel, June 17, 2006. Rating = 2/10
Only thing good about FXCM is their trading platform...they are the worst at abuse, bouncing back a trade, locking up quotes in fast moving market etc

- Reviewed by Rainman, June 15, 2006. Rating = 1/10
Please, horrible execution after 2 months with them.

- Reviewed by FXMaster, June 15, 2006. Rating = 1/10
Bad slippage, slow trading, stopped out when not possible. And Refco deal.

- Reviewed by sam, June 14, 2006. Rating = 2/10
Pros: On a big plus note - their trading platform does offer a news squak box - and the news coming out is excellent and helpful in understaning what is causing market movement. Although their spreads are not the lowest, FXCM does provide phone service.

Cons: Beware that their related charting service from FXTrek and thier charts on DailyFX DO NOT provide accurate real time data during heavy trading periods (e.g. after a major economic release) and this, quite frankly, is unacceptable at times - especially if you trade off charts. Also, during heavy trading periods, or with a slow internet connection, trades often do not go through when the price moves.

- Reviewed by camarora, June 14, 2006. Rating = 5/10
FXCM is very customer service friendly. They have free webinars to help your trading. They are an excellent broker.

- Reviewed by PJM, June 14, 2006. Rating = 10/10
Scammers to the max. Changing margins, slippage, frozen trading platforms, do not answer questions, send you in a phone circle to the other rude teenagers. Money dissappears unrelated to transactions. There is more, they do not care.

- Reviewed by gideon, May 22, 2006. Rating = 1/10
Not recommended. Slippage, dealing desk and constant platform freezes.

- Reviewed by King of the Hill, May 1, 2006. Rating = 1/10

# 2006-2007 Ratings
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# Broker Review Index

2005-2006 FXCM Reviews

FXCM does offer a broader package in terms of customer service. The greatest difficulty with FXCM is that even with a high speed internet connection, market orders are often rejected when the market is moving. If Oanda can do it, so should FXCM!

Rating = 6/10 - April 11, 2006
Technically and customer service, perfect. But horrible spreads.

Rating = 7/10 - February 14, 2006
Very good fast support.

Rating = 10/10 - February 11, 2006
I should have closed my FXCM account months ago. 200:1 leverage is too high for the mini account and leads to trouble if you're a novice FX trader.

Rating = 1/10 - December 11, 2005
Tired of FXCM dealers picking off my stops. I'm moving my account. Had the same problem with Refco. Pretty low class to trade against your own customers!

Rating = 1/10 - December 4, 2005
Pros: credit card deposit, easy-to-use software, NZD-JPY available
cons: swap only for above 50:1 leverage, easy dealer check, slow price update

Rating = 1/10 - December 4, 2005
FXCM executes well, but has a dealing desk. On a few occasions I have seen FXCM produce price spikes to blow out stop orders in FXCM's favor. These price spikes do not appear with other data feeds. They advertise no slippage. However, the price they choose to feed you is sometimes not in tune with the market and is biased in FXCM's favor.

Rating = 1/10 - November 10, 2005
My only gripe with FXCM and REFCO are their spreads. Other than this, they are fine, although I have noticed some tricky price spikes on FXCM and have heard of bad practices from others who have accounts there. With the recent problems at REFCO, I would be wary of FXCM.

Rating = 3/10 - November 8, 2005
FXCM had daily breakdowns and dealer manipulation.

Rating = 2/10 - October 25, 2005
The price quotes do not seem to match the market, that I am seeing with my charting software. Many times they will be off as many as 4-5 pips.

Rating = 5/10 - Oct 8, 2005
Frequent large slippage (2 - 5 pips) or order rejection (about 50% of the time with my trading style. They have an "At Market" field which is supposed to guarantee that if my market order can't be filled at the quoted price, then the order is not executed. It didn't work at all for me. I often got slippage anyway. This amounts to false advertising.

Rating = 2/10 - Oct 1, 2005
Both these brokers (FXCM & RefcoFX) lure you in with excellent execution on their demo account and switch you to manual execution once you go live and start to turn a profit.

Rating = 1/10 - August 21, 2005
The software very good and the execution fast.

Rating = 10/10 - July 18, 2005
I found FXCM a complete rip off, and cannot in any way recommend it.

Rating = 1/10 - June 29, 2005
They charge negative interest on all open positions regardless of currency or direction of trade, on accounts that are leveraged greater than 50:1. It's just another commission in disguise.

Rating = 1/10 - May 5, 2005
The platform is good, the execution time is very good and orders are respected as well as stops and limits. The only thing I don't like very much is the news plugin, because even though it's good I dont feel news arrive very fast.

Rating = 9/10 - May 4, 2005

# 2005-2006 Ratings
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2004-2005 FXCM Reviews

The only thing I don't like about FXCM are the large spreads on GBPUSD and USDCHF.

Rating = 5/10 - Jan 2, 2005
I have traded with many brokers (FX in particular) and FXCM has bar-none provided the best customer service and execution I have ever seen. This market has gaps, and at least I know FXCM will deal with market gaps as fairly as possible, while other brokers simply turn off their platforms or refuse to make you a price. In addition to being backed by Refco, I also know that they are the largest FX firm out there and my funds are safe when I trade with them.

Rating = 10/10 - Nov 30, 2004
Horrible customer service; hidden fees and lot of delays & excuses when trying to withdraw funds. Stay away.

- Oct 19, 2004
Very good PR, but huge spread, and you are forced to trade only 10000 or more. It will wipe out your account. You can't do money management, can't scalp, can't trade GBP/CHF 15 pips spread!!!

- Aug 17, 2004

I am sure a lot of people were fooled by their big spending advertisements in Bloomberg website and also Bloomberg TV.

The big rip off is the negative interest on overnight trades irregardless of trade direction you are in.

I have the same bad experience just like all you guys.

I finally signed up with NORTHFINANCE.

Anyone care to give any headsup on NF? What are your concern regarding this company? There seems to be a lot of complains against NF from forex*******s.com.

Need your opinion. Thanks

Dont worry about that site. I am going to find the next conference that felix goes to a beat him to a bloody pulp for putting such a crappy site online. He is just a kid anyway.

Do you personally use NF?

if not which one?

I am also learing to use one of those ECNs like propFX, coesfx, or mbtrading....

Any comments on these too? All I want is a broker that is good for news trading. From what I heard, ECNs are the best...

I think I made a mistake in signing up with NorthFinance.

Just now, I shorted for GBPUSD when the terror news broke.

Then the price went up; when I decided to close the trade, it was delayed and I was given a requote as the price was climbing up.

Then the price went down again. I was waiting for it to go lower and my order was closed.

Thats a cheat!

I am still using NF without much of a problem. IF you want to trade news, move to an ECN.......

I am a technicals trading, i tend to avoid news. And no problem on my part.

Please wisely use close button.

My friend told me that in MT Platform, in moving price especially in hot news, you will have trouble to close/open your position that againts broker but If the price follow the broker than your closing price will execute FAST.

before everyone jumps the gun and presumes using ecn wil not suffer slippages, they do. what they don't do is to freeze the platform and take you out but with ecn, orders cannot be guaranteed. you act as your own market maker, placing your price where you want and it's up to any party to accept your offer or bid.

in a fast moving situation, the banks are not idling by filling in every offer / bid that comes along. they too want to profit but unlike bucket shops, they don't know every who you are, all they see are numbers and if they choose to accept your price, that's a fill. the best way to deal with news play is to put in stop orders as they become market orders once the price is hit, you may not get the price you want but that's no 'server' issues and you'll be able to deal with the situation as fast as the fingers can go and usually you can profit from it.

Will entry orders on ECN guarantee a fill? Is there an ECN broker that allows traders to put a "price deviation" on the entry orders such that I would be very much assured I dont get slippage, non-fulfillment?

ecn is supposed to be fair market...not just to you but to everyone...so there shouldn't be guaranteed fills. as to deviation, it depends on the platform that is used but you can place a stop-limit order to be sure you don't get filled at a worse price....then again please read the definition of order types for the platform. my experience has been different brokers for some reason do not always go with the conventional definitions....

Well I didn't have a good experience with NF today. I set up my trade long and set my target and the price went right past my target by 16 pips and didn't close. Then it came back down past my target and hit my stop/loss. I had 10 lots on that trade so I'm not the least bit happy. All they said was it was the spread. 2 to a 16 pip spread???????? what gives??

Oanda has never done that to me ...yet

It happened at news?

Was your LONG filled? How long from Long filled till reaching target?

Could be what phildunn said

You are in the same ship as me, this should be the anwser to our prayers:

http://www.ac-markets.com/en/forex-broker/...ng-with-acm.asp

Regards,

Now

it looks promising, has anyone tried ACM?

This link compiles a data of brokers and their capitalization...
http://www.cftc.gov/tm/tmfcm.htm?from=home...e=mktfcmcontent

No NorthFinance in the list?

The list is for brokers which registered with CFTC.

This therefore doubly goes to fear why NF is not CFTC registered?

Only US based brokers required to register with CFTC.

Bad idea. Read below ratings:

2006-2007 ACM Reviews

# Visit Website

Good execution for first 2 months and then downhill from there. Also, noticed priceshading.

- Reviewed by xxxxx, August 1, 2006. Rating = 2/10
In one word BAD!!!

- Reviewed by xxxxxxx, July 16, 2006. Rating = 1/10
Personal price feeding on your open positions. Sometimes up to 20-25 pips difference on open position beetween them and real market. It happens on 2-3 day after you start trading with them. Stay away!!!

- Reviewed by xxxx, July 8, 2006. Rating = 1/10

# 2006-2007 Ratings
# Rate Your Broker
# Broker Review Index

2005-2006 ACM Reviews

They enlarge the spread to make you cross your margin! Dont let the margin be less than 1.05%, or else they will do the trick, and you will lose a lot of money.

Rating = 1/10 - January 24, 2006
This Broker is not fair and work against their clients and lying ...

Rating = 1/10 - December 30, 2005
ACM does not even need a comment, it's bad!

Rating = 1/10 - October 25, 2005
They are the worst, they mark you and mark you down depending on your position. They are not suitable for intraday traders and employ dubious business practices.

Rating = 3/10 - Jul 25, 2005
Stop running all the time, price freezing when you are near your target, in volatile markets when you have an opportunity to take your profits or enter the market at a desirable point, you receive a message saying " TRADING IS TEMPORARILY SUSPENDED ". It is outrageous, I do not know how they are allowed to carry on.

Rating = 1/10 - May 4, 2005

# 2005-2006 Ratings
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# Broker Review Index

2004-2005 ACM Reviews

Zero rated, simply horrible, stop running, price shifting, price freezing are every day practice for this firm. Never approach them.

Rating = 1/10 - Apr 25, 2005
Horrible broker.

Rating = 1/10 - Feb 3, 2005

# 2004-2005 Ratings
# Rate Your Broker
# Broker Review Index





Register in BVI will help

If you got that review from forexb*****d, I dont trust them.

The reviews are from here.
http://www.goforex.net/reviews/acm.htm

Now you know where those reviews from?

I don't like him either. Just look at his domain for god sake

What a busturd he is

How about www.Realtrade.lv?
Any review of this broker?

What do you guys think about Non-Dealing Desk brokers? I think they might become more and more popular. HotSpotFX is one, min $7500 deposit.

You have no idea how many brokers claim to be non dealing desk but really are.

Thinking about opening a small account with Oanda just for NFP trades. They seem to be the only one that can fill an order to catch the spike (even though they raise the spreads). Most people I spoke with today could not get InterbankFX to give them a fill.

you should contact them,,

seem like every BROKERS has more less drawbacks .....


is it possible to get one tat is really reliable/honest ?


or we should just GO DIRECTLY to the CENTRAL BANK for FOREX trading....

No broker is perfect.

I need a bit more for my own account to go ECN or bank... Apparently commonwealth bank of Australia has a good trading program. So I will consider them (as i have a bank account with them also).

I am just down right sick of being stolen from. Just want enough money to handle the 1:50 leverage.

Hi....

There's no broker perfect that's right...

just invest your money in fund manager or managed account ..let they do the rest for you

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Proven Forex System