Hi, these guys look great but I am not really so sure.
The good things
No dealing desk
They answer emails promptly
They offer fixed 1 pip spreads on major pairs (except during the news)
They are very easy to open a real account with
They take paypal
They offer 500:1 leverage.
Accounts are insured.
Scalping is allowed on a per transaction fee.
Ok.. this all seems great so I go ahead and download the demo
Cannot change the leverage to 500:1 so backtesting and forward testing is out if that is what your EA needs to work. This apparently cannot be changed.
Ok.. so I open a real account (super easy) and ask for the leverage to be changed to 500:1 so I can at least backtest my EA.
However they will not change the leverage to 500:1 unless you deposit 5000 dollars in the account.
I have no guarantee that I can get my money out easily until I try but since I cannot even backtest with my ea, why would I put the money in the first place.
Unless someone here has used this broker and are happy with them, then I think I will give them a miss. Something doesn't seem right! Am I too cautious?
Please let me know if you have used them and what you think.