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.
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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: $500 Founded: 2009 Platforms: MetaTrader 4 Regulation: SEC, US based. non-NFA member Support: Good support (tickets, live support) The Good: First innovative broker with raw spread STP environment. The Bad: Nothing bad so far. My broker of choice.
Update February 2010: Iamfx added micro accounts.
I have prepared my video review for Iamfx. It is currently my broker of choice and here is why:
I really like this one. Iamfx.com is very new however just in a few months it became a headline of the first innovative broker that "works for you", not against you like the majority of dealing desk market makers. Iamfx.com does not try to cheat you by skyrocket spreads during the asian session, sending spikes and offquotes when you try to exit the trade in profit (common broker trick).
Iamfx business model is comprehensive and fair - they give your raw (means real low interbank spread without adding additional 2-3 pips to the spread like other brokers) and charge you 1 pip commission (which used to be 2.4 pips in the past but they made right decision to lower it). This means that your scalping EAs will have a greater chance of covering the spread and reaching the TP target faster.
Here is what i found on 4xproject forum, this is a comment of one of the users which I fully agree with: Overall I give IAMfx a triple AAA rating. I watch their MT4 and it picks up trades faster than other broker demo's I have running simultaneously. They lowered their commission awhile back too. It seems like they want to lead the charge and become the innovative broker and you can't beat the spreads. I saw a spread of 4 one day on the AUD/NZD pair one day. Tadawul has as high as 25. big difference. means more money in your pocket.
Iamfx does not make huge promotional campaigns spamming all the forums and blogs, they are growing by providing good service and I believe that "word of a mouth" is the best way for promotion for the "right company".
Iamfx is good if you trade robots like fapturbo, megadroid, robominer. forexbling, shocker, cyclone etc which require low spreads to be profitable.
The only disadvantage is - they have no micro accounts however I heard they plan to introduce micro accs soon with 500 usd minimum deposit.
One more note - their currency pairs has prefix "ifx" that means if you want to backtest any robot - you need to manually download history data somewhere and then place it to "History" folder in Iamfx folder and manually rename the files. for example EURCHF5.hst will become EURCHFifx5.hst.
