Which is the best and most honest

have you checked out this thread?
http://www.hotstockmarket.com/forums...d-7-total.html


i use interbankFX and dont have any problems

huh? Interbankfx ? Well, in my opinion, interbankfx is probably the worst broker out there. I use Oanda. They get top ratings from forexbastards.com. If you want to hear all the complaints about certain sites, go to forexbastards.com and read what they say.

http://www.forexbastards.com/public/...broker_reviews

Oanda used to be #1 but they've moved down to the middle but that was because some of the other forex brokers put on a massive negative campaign about them and it was all untrue because I've been with them for about 7 to 9 months and never had any problems. I was with interbankfx first and they were horrible. They would disconnect you for about 7 hours at a time....no joke so I cashed out from them and went with oanda and I've been happy ever since. One of the drawbacks about Oanda would be news time trading but here is the deal......... Oanda at least allows you to trade during newstime but they increase the pip spread. Many dealers wont even allow you to trade at news time and will just disconnect you right before news is released so it's really your choice as to what you want. Interbankfx just disconnects you. I don't trade news so I'm happy where I'm at.

Oh and by the way, Oanda pays you interest on your money even when you aren't trading. Everyday, I open my account to found a little more change in there.

during the weekends the spreads are always wider, it will tighten up tomorrow

It's the weekend, not much buying....so there isn't really a need for a tight spread....check it and compare this week not on the weekend......

oanda will have the lowest spread around for eur/usd tomorrow.

the exchange just opened back up and the spreads are jacked

Another vote for interbankfx. I also have an account with CMSFX too. Both companies are financially safe as they get and generally they dont have any problems day to day.

Oanda is a very good broker--excellent choice IMO... Yes the spreads may vary and change--they change during weekends and they may get wider during a big news event--but its only a short time and if you time your buys and sells right and you plan your trades for the gaps--you shouldn't notice...

Whichever broker you go with--make sure they are long-well known brokers (check the chat boards here and on forex sites for peoples opinions--but stick with the major brokers!), and especially make sure whomever you go with that they are registered members in good standing and are relatively clean from complaints with the CFTC and NFA..

Sure--you can find "new" or shady overseas brokers with tight spreads and a great sounding website etc etc....but if they are not CFTC or NFA listed--you have no help and no regulations over what happens with your account...they could close up shop and you would have no recourse or way to "possibly" get part or all of your account money back...least with the CFTC and NFA brokers--you have a chance and they are monitored for being on the up and up....

RefcoFX is a prime example of a securities fraud and freezing of accounts that could be done by a sleazy company--I suggest you do a search and look up the story as I am not fully versed on what exactly when on and has happened since.. In a nutshell, they were a rather well advertised Forex broker who declared bankruptcy, froze users accounts so members had no access to trading or to funds, and had a CEO who embezzled funds and had a nice enron style scandal going on...they closed up shop and members had little recourse left offered to them--users would have been royally screwed had NFA/CFTC and FXCM had not assumed the company's liabilities etc...however class action billion dollar lawsuits are still pending--supposedly many members got their accounts back (after 2-3 years) but the damage in how some Forex brokers can screw its customers over is all to apparent.. Unlike with bank accounts--Forex accounts are NOT secured or insured by the federal government...that is something that has to be set up separately by the broker for the company to offer or separate themselves from the actual accounts so a customers money is protected in some manner and can still be accessed should a problem ever arise in the company--and many reputable brokers do highlite and offer this extra security at no costs as incentive to its prospective clientele to come to them and steer clear of the shady brokers...

So check out your broker--check out the history of Forex brokers and check up at the CFTC and NFA websites for information on what to look for in a broker or a brokers history of complaints or filings.. Don't get swooned by a tight spread--a tight spread means nothing if you can never access the money you make...
-w

How realistic is the demo program for Oanda? This is my first night trading with it and I'm hooked.

lol you ever trade futures before simon? if you like forex you would deffff like futures

Nope, I just started learning/trading options and today was the first day I traded forex.

gooodluck, when you get the hang of that open a demo account with Open E-cry...futures are crazy, i loose money so fast it's redic!

Its been a few builds since I did Oanda's demo--but what you get on the Demo is what you get on a real account--plus I'm sure some more..but the speed and the (when I last tested it) on chart trading and level adjustments were really slick... Demo's would be no good if they did not show you the whole thing--only difference is some of the news features and the fact that you are using play money instead of real....

Hope you like Forex simon--we would love to have you join us here in the forums. Forex is addicting and wild and is a beast in its own..I don't trade anything but Forex.

If you should run into any probs or have questions--post away and we shall endeavor to answer... Plus--check out some of the past threads for some great past trades and tips you can pick up...

BTW--if you are in need of Options help--Dr_sean is a great help in that area..

-w

you don't trade on Sundays until after about 5 hours or so......Oanda has 1 pip spread on eurusd which is what I trade. Can't get much better than that.

Can't say it any better than wolf did, but do a search, or go down the list.
If you see them around in a lot of places, and there's a lot of people using them, they're probably not bad.
If you can't find any info on them, and they're dealing with microaccounts($10) and it costs $30 to withdrawl your money, then there might be something fishy about them.

Every broker has different features too. Some have crappy charts and good spreads, and others have great charts and okey spreads.

That's why there's demo's. Open more than one if you want.