Forex Brokers Analyzed (3 added 7 total)

[StockPicker]

Well I did a transaction where I lost money and didn't see any commission. So I think they only take the money if you make a profit. I went down 4 pips and lost $20.00. That makes sense, but when I make money they are taking some of my profit.

[StockPicker]

Ok I talked with a customer service rep. from interbankfx and they explained to my newbie self that it was the SWAP interest rate I was paying when I made the profit.

[StockPicker]

Well it ended up being that I didn't understand that I had to calculate the value of each pip before I figured what I made. My bad. I thought each pip was 1 USD. I guess that's true if your trading EUR/USD. Live and learn.

what broker did you guys stay with (liked the most)

so wich one are you guys using and why ?

[palmtops]

I really like InterbankFX:

http://www.interbankfx.com/

The things I like:

• Low spreads (2 pips for EUR/USD)
• Uses the MetaTrader Platform (desktop client with lot's of customizable features)
• They have no policy against scalping which many brokers don't allow (scalping is lots of small trades trying to get a few pips each)
• If you have a question, you can use live online chat with a customer service rep. I've never had to wait more than 30 seconds to ask a question)
• Orders execute fast with almost no requotes
• And the biggest plus is that the support and offer the MetaTrader Mobile platform for both Palm and Pocket PC so you can trade from your PDA while on the road.

The only issues I've had is that the news on MetaTrader doesn't update very well, so I'm using other news sources.

Hope that helps.

BUMP

[XxLessoxX]

Im using cmsfx right now and they have been great. the best charting tools I have seen and most customizable and easiest interface. also you can make trades directly from charts so its super fast
.

[Leigh77]

Any other opinions on the best platform, that also allows you to demo. What's a really good platform with good tools and charting? Charting that has MFI?

Wolf, any recommendations?

[XxLessoxX]

CMSFX has just about any tool you can think of, as do most of the platforms. A lot of folks like interbankfx on here though. I use CMSFX because I can get 400:1 lev. if I want it.

[wethepeople777]

I am curious what everyone here thinks about mbtrading.com. They were voted this year by Barrons as the number one technology trading company for 2006, have no deal desk fee, free software,400.00 to get started and they do not differentiate between a mini and standard account. They call it a Universal Account. Comments on the pros and cons of this company and any software that should be used in conjunction would be greatly appreciated.