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    September 2010
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    In the platform and in the payment.

    FXCM is one of the reputable forex brokers out there, which I would say is rather trustable.

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    7 Responses to “Shall I trust FXCM brokers for forex trading?”

    Fx Says:

    FXCM is one of the reputable forex brokers out there, which I would say is rather trustable.
    References :
    Being a forex trader for years.

    Barney Says:

    In Forex trading, you pay commission on the spred. There is no add on commission but you pay the amount of the spread. Three pips equals $30 on a full sized pair. That’s $50. On a five pip spread.

    Forex brokers do not remain open the entire time the market trades. They can set their own hours. Some brokers close before the market stops trading on Friday and open after the market begins trading on Sunday. Not to mention Holidays when trading is still going on. During this time your stuck in the trade if you didn’t exit it before the broker closed. Phone calls, the trading desk is not manned all the time during business hours and you’re always able to access their system or orders execution.

    Forex trading is not centralized. Each broker has their own separate data feed and set their own highs and lows.

    FCM registered? Make sure they are. Make sure you know what your brokers reserves are, that they hold segregated funds. They should give you their registration number. Make sure it’s valid and current.

    Never trade Forex with a broker who doesn’t allow contingent stops and limits when placing an order. Many, many brokers won’t allow you to place a stop and limit until your entry order is filled. This will cause you grief, frustration and money. Their charts do not always correspond to what you expect your fill price to be because their getting their data feed from someone else.

    Your broker isn’t there for you. They’re there for themselves. Every broker takes the other side of every trade. This means it’s you against them. Think of Las Vegas. The house is positioned to win. Brokers have ways to hunt out stops and not filling limits. This isn’t a problem when the market blows through a stop or limit. It’s clearly evident on those frequent occasions where the broker seems to miss those call limits on your profit by a pip or two but seems to always be able to execute a stop exit usually on a lose before it swings back the other way.

    Back testing can be good but market conditions change. Thus back testing then becomes irrelevant. You can’t always trust back testing. Insist on a trial before you put money up front. Perception in Forex trading is not always the reality. It can be profitable but it can also wipe you out fast and easy if you don’t know all the aspects of your broker and the in’s and out’s of the idiosyncrasies.
    References :

    Common Sense Says:

    There is no FX broker you can "trust". Having said that, FXCM is one of the few brokers I would say "OK" to a friend. I have used them.

    I’m currently using GFT Forex. They have Boris Schlosberg & Kathy Lein with them now (formerly with FXCM). I like their platform. Check them out also.
    References :

    Zaki Says:

    if you are looking for a very legitimate, trusted and reliable forex broker, you may check your options in this source. the site is one of the leading brokers these days which offers a web based trading platform that would allow you to trade anywhere at anytime. they even provide a personal Account service manager to their registered traders as mentor/consultant live via phone, email, chat or personal meeting as applicable and they got lots of learning materials and innovative tools to help their traders in their trading decisions. all the best.
    References :
    http://www.optionforex.org

    Elliott Says:

    If you want to start trading forex you will find only a very few reputable brokers. I have been trading forex for years with many different brokers and here is a list of the forex brokers I trust:

    ForexWebTrader
    Finexo
    eToro
    easy-forex
    References :
    http://www.forexlane.com/brokers.html

    Bob J Says:

    I LOVE FXCM…. Great customer service, I have been customer since 2007… Great Software…..
    References :
    For more Forex Help Check out
    http://www.FreeForexHelp.ca/

    For The Best Simulated Forex Trading Account Check out
    http://www.SimulatedForexTrading.ca/

    we could trust brokers, but not 100%
    that’s the same as we shouldn’t trust too much on trading software
    we must be aware if we’re going to join forex trading..
    and that means we must be 100% aware
    Good Questions.. :)

    Good Day!!

    Cynthia Tanady

    Online Trading Now

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