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  1. #1
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    Question Are you happy with your broker?

    Hi Guys,

    Just want to know if your happy and satisfied with your broker?

    What are their strengths and weaknesses compared to other competitors.

    At the moment i am with HY Markets and trying their demo accounts. I find it reliable and interesting.

    I need your advice so that you can help me have more options.

    Regards,
    Waterlily

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  3. #2
    Full Time Forex Trader Array ForexMike's Avatar
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    The best thing to do is to read the comments in the broker section of the forum and go to forexpeacearmy and check out their comments too my friend.

    Good luck!

  4. #3
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    go google your broker's name and read of any things that you should be aware of. no broker is perfect, but naturally the best is to go for properly licensed brokers because the safety of your funds are a real concern especially these days with so many fraud cases.

    i have been using saxo for about 6 years now and i've hardly had any problems with them.

  5. #4
    Standard Member Array daniuwei's Avatar
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    Basically these are the questions that you should have when looking for a reliable broker:

    1. How does your broker protect your funds?
    2. Is their information security (IS) certified? Like for example, do they have ISO 27001 certification in IS?
    3. Is the broker fully audited?
    4. Is the broker a fully established company?
    5. Have the broker receives any recognition or awards for their performance?
    6. Is the brokerage platform that you are using is created by traders for traders?
    7. Does the broker offer FREE professional coaching and traders tool?
    8. Do they offer at least 60-day use of the Practice Account?
    9. Fast application approval? Say like 24 hours?
    10. Is it easy to fund your account? Do they offer many withdrawal options?
    11. What is the minimum amount to open an account? As low as USD100?
    12. Do they offer micro, mini and standard lot in a single account for your convenient sake?
    13. Do they offer a lot of products, more than just Forex? Do they have metals, oils, commodities CFDs, major indexes and global equities?
    14. Make sure they are not dealing desk so that they do not trade against you. If they are a Straight Through Processing (STP) broker, then that's the right one.
    15. How is the execution like? You want a broker with absolutely no requotes and no slippage with tight spreads.
    16. Do they offer high leverage?
    17. Do they allow any kind of trading style including hedging?
    18. Do they offer mobile platforms? Can you trade from your web browser?
    20. Do they offer 24-hour customer support? Best with live chat.
    21. Is your broker licensed and regulated by the Financial Services Commission (FSC)?

    I agree with Kristianto that no broker is perfect. But make sure the broker is ready to assist you if you screw things up. If facing slippage problem, just go to them and highlight the issue. If they take up the responsibility and take your side, you know you're with the right broker.

    I'm happy with my current broker because they offer all the above and more.

  6. #5
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    Yeah, finally, i have found a relaible one

  7. #6
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    Smile Happy with my broker...? yes I am now!! :)

    Quote Originally Posted by Wrongforex View Post
    Yeah, finally, i have found a relaible one
    Hi waterlily,

    I'm also trading with HY Markets for over 6 months but i opened a mini account ($50) initially not demo. I'm just glad that they cut down the spread on EUR/USD. It's now down to 1.8 pips plus they've given me 10% bonus.

    A good forex broker should be regulated by a known regulatory board like FSA, NFA. Check the broker's reputation, how big it is and how long is the organization's history. Also, you need to know how safe your money will be with your chosen broker. I have been trading with HY Markets for over 6 months now. I chose them because they offer their clients the "CLIENT MONEY PROTECTION POLICY" There is a 100% segregation of retail client funds with top-tier banks, transparent deposit and withdrawal policy.

    Good luck!


    CH_17

  8. #7
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    I am happy trading with my present broker. They are honest, and beside they have not asking anything funny. Fast in responding my questions. Beside that, they had offered the best bonuses.

  9. #8
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    which broker?

    Quote Originally Posted by duderex View Post
    I am happy trading with my present broker. They are honest, and beside they have not asking anything funny. Fast in responding my questions. Beside that, they had offered the best bonuses.

  10. #9
    Diamond Member Array Bill Bundle's Avatar
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    Quote Originally Posted by Waterlily View Post
    Just want to know if your happy and satisfied with your broker?
    ThinkOrSwim is a discount broker with $9.99 USD flat rate commission for each trade. However, if you place a market stop, their likely to stop you out even if you are very low below the current bid/ask prices. I think they use any price on the Level II to stop you out. Also, their platform ThinkOrSwim (aka TOS), is very good, but recently they've been loosing my custom indicators and I have to keep reloading them. Even though the platform is a desktop software, once you load the custom indicators, they are stored on their server.

  11. #10
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    I trade with Instaforex and I think they rather slow when I wanted to open my trade when the price moving fast or has momentum

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