Forex Tester is new independent and unbiased forex testing service founded by Mark Larsen, professional forex trader with well over 10 years of experience. Main goal of the website is to provide independent investigation and review of all top forex systems and expert advisors available on the market.
Forex Brokers Reviews is a 100% free and independent forex service. We never join any affiliate or referral program! We don`t charge a fee to any forex brokers or service provider nor to our users. All forex brokers reviews are just based on the last test performance of each service.
Hi guys! Let`s face it, the majority of all forex brokers that support the MetaTrader 4 platform are pure bucketshops.
The truth is you are not trading in a true market environment but instead are in a "sandbox" type of trading environment called dealing-desk where the broker has full control over your position. You are winning money - he is losing it. And in such type of environment winners are obviously not welcome... If you win consistently on a long term basis your account can be banned or suspended and all your profits go to nowhere! or indeed in the broker`s greedy pocket!
Min. Deposit: $300 in TS, higher in MT4 Founded: FXCM was founded in 1999 Platforms: FX Trading Station 2, Metatrader4 Regulation: Location in the USA, membership in NFA, availability of CFTC. Support: Free multilingual telephone lines is in almost 40 countries. The Good: Headquarters in New York City, one of the most reliable brokers. The Bad: MT4 trading has some offquotes issues.
FXCM is an american company. It is registered in FCM and regulated by CFTC. It is also a member of NFA. It's head office is situated in New York. The company is also registered and has offices in Canada, Hong Kong, UK, Japan. It is registered in the national regulative bodies of these countries.
The company offers a complete set of client accounts: individual, incorporated, corporate, guided, partner. There are standard (minimum deposit $2000, lots on 100K) and mini (deposit from $300 or 300 or ?300 or AUD300, lots on 10K) accounts. The site has a section called "Education". It offers paid online courses and free educational "webinars" (interactive online seminars).
Opening demo-accounts is possible. The trading platform is FX Trading Station and it requires installation. It offers basic informative and trading services, except for graphic analysis. There is also a special appendix of FX News Software for a transmission streaming market news in the trading platform, technical levels, and FX commentary.
The new MT4 platform offers no dealing desk trading as they claim however there are some offquotes issues in MT4 trading here. Spreads are variable and pretty small all the time. The min. deposit for MT4 trading is pretty huge but they plan to decrease it in future.
My mini-Interview with FXCM
Stephen: Welcome to FXCM's Live Chat Feature. How may I help you?
Stephen: This is Stephen. How can I help?
Mark: Hello. Could you explain - what is better TS2 or MT4 trading (I mean liquidity supply, trade execution etc)?
Stephen: Trading Station 2.0
Mark: Why? Could you tell more details?
Stephen: Many forex traders love the MetaTrader 4 platform, but want the benefits of FXCM as their broker.
Stephen: Yes
Stephen: FXCM Trading Station 2.0 allows for partial fills, more ability to place trades without requotes,
Stephen: is better for scalping
Stephen: has no order size limits
Stephen: allows for 1 click trading
Stephen: and has detachable charts
Stephen: does that explain?
Mark: yes thank you. Does TS2 have some API for Forex Robots (EA) programming or automation of trades?
Stephen: we have many resources
Stephen: http://www.fxcm.com/api-landing.jsp
Mark: BTW, do you plan to add more liquidity suppliers?
Stephen: FXCM on average executes 500 billion in monthly notional volume
Stephen: we are always looking to improve our services
Stephen: Do you currently trade FX elsewhere?
Mark: ok thank you for replies. i am already a member and like your service.. bye!
