Market Maker

LiteForex

LiteForex

LiteForex is a Russian forex broker that offers mediocre trading conditions but tries to compensate with numerous bonuses, promotions and contests. I trust it you are smarter than that but if you are interested nonetheless, be my guest and read on.

 

What platforms does LiteForex support?

The broker offers the industry most popular platform – Metatrader 4 (MT4). Thousands of traders all over the world choose MT4 because of its super intuitive and user-friendly navigation, and tools to enhance transacting for brokers of all size and skills.

MT4 features a great built-in charting package, technical analysis tools and custom indicators (MT4 users can download and/or create their own custom indicators), automated trading strategies and expert advisors, back-testing options, etc.

MT5 is a newer version of the Metatrader platform and has the following features:

  • Increased work speed
  • Enhanced security and data encryption
  • Advanced technical analysis tools
  • Buy Stop Limit and Sell Stop Limit deferred orders
  • Detailed intrinsic reports of operations

Both MT4 and MT5 are available as mobile device applications.

 

How much money do I need to start trading with LiteForex?

The requirement for initial deposit at LiteForex is $50 and you can choose between four account types: LiteForex, RealForex, Floating Spread and STP:

  LiteForex RealForex Floating Spread STP
Minimum deposit $50 $50 $50 $1,000
Minimum contract size $100 $1,000 $100 $10,000
Maximum leverage 1:1000 1:200 1:500 1:100

 

Accounts can be funded via credit/debit card (any card that you can think of, as of that matter), bank wire and a gazillion of online wallets. It’s almost as if LiteForex wants to be 100% sure it will get your money – hm…

 

Is my money safe with LiteForex?

According to its website, LiteForex is an “official and full member of Russian Association of Financial Markets Members (RAFMM)”. Sadly, in a country where there is no forex legislation whatsoever, this membership is as good as bringing sunscreen to Sweden in the winter – in theory it might protect you from the sun but in reality it is just another useless item in your luggage. I’d go ahead and mark the broker as unregulated.

 

LiteForex’s trading conditions – spread, order execution and slippage

Spread: Fore the LiteForex, RealForex and STP account types, the broker offers fixed spreads of 3 pips on EUR/USD, GBP/USD and USD/JPY. Floating Spread account spreads supposedly start from 0 pips.

To get an idea about the average fixed spreads on the market, take a look at the ones of FXOpen: 2 pips on EUR/USD, 3 pips on GBP/USD and 2 pips on USD/JPY, and the ones of ICM Capital: 1.6 pips on EUR/USD, 2.7 pips on GBP/USD, and 1.9 pips on USD/JPY*.

* Spread comparison data fed by ForexBrokerz.com

Execution: LiteForex’s execution is a bit slow and slippage & re-quotes are common; LiteForex comments on this on community message boards are pretty much the same – “That’s not possible, our logs don’t show any signs of problems with execution”. Uh-um. Sure.

 

Bonuses and the Multirebate program

Bonuses, Refer-a-Friend program, demo contests, regional contests – LiteForex has it all. There’s nothing wrong with rewarding your loyal customers but that’s a bit over the top.

Furthermore, the broker offers the so-called Multirebate program that promises the traders 1.5 pips of each trade ($15 per lot) back. Now, I haven’t been in the forex game that long but back when I was still actively playing poker, I would stay away from any site that offered rakeback (that’s the poker equivalent of rebate). These were usually the sites with the worst gaming conditions and/or they were just playing dirty offering something the industry generally frowns upon to attract more customers.

I’m guessing the same principle applies to forex trading – if you have nothing else to offer, give them bonuses and rebates. Truth is, though, no matter how much money LiteForex gives me back, that won’t change the fact that it’s not regulated, has high spreads and offers ridiculously high leverage.

 

Conclusion

With its sucky trading conditions, fishy regulation and overall impression that I get, LiteForex is definitely not amongst my favorite brokers. There’s plenty of other brokers out there, so my advice is – stay away from this one.

LiteForex official site

Lite Forex – Ratings and reviews

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Site Score
4.0
User Score
9.5
EXNESS

EXNESS

EXNESS is a Russian broker that is licensed and regulated in New Zealand. It offers excellent trading conditions for both its standard and ECN accounts.

 

What platforms does EXNESS support?

EXNESS traders can choose between Metatrader 4 (MT4) and Metatrader 5 (MT5).

MT4 is the most commonly used forex trading platform. It offers a user-friendly interface, outstanding charting and technical analysis tools, automated trading capabilities, and instant and market execution.

MT5 is an upgraded version of the MT4. It supports more financial instruments, order types and charting timeframes.

 

How much money do I need to start trading with EXNESS

The broker offers three account types: mini, classic and ECN:

Mini Classic ECN
Minimum deposit $100 $10,000 $1,000
Minimum trade size Micro lot (1K units) Mini lot (10K units) Mini lot (10K units)
Maximum leverage 1:2000 1:400 1:100
Commission No No $25 per $1 Mln traded
Execution Instant execution Instant execution Market execution

 

Is my money safe with EXNESS?

As I mentioned, EXNESS is a Russian broker – and as you may know, Russia is just starting to work out some sort of forex regulation.

Perhaps this has driven EXNESS to go ahead and apply for a license in New Zealand, where the broker is registered with the Financial Service Providers Registry and with the Financial Dispute Resolution Service.

 

EXNESS’s trading conditions – spread, order execution and slippage

Spread: For its ECN accounts, EXNESS offers variable spreads starting from 0.1 pips. Here are the broker’s typical spreads, according to its website:

Mini accounts Classic accounts ECN accounts
EUR/USD 0.1 – 0.9 pips 0.2 – 1 pips 0.1 – 0.4 pips
GBP/USD 0.1 – 1.1 pips 0.2 – 1.1 pips 0.1 – 0.7 pips
USD/JPY 0.2 – 0.9 pips 0.2 – 0.9 pips 0.1 – 0.4 pips

 

Execution: Depending on the account type that you sign up for, you’ll have either market maker or ECN/STP execution. Both types are fast and reliable, and re-quotes are rare.

Slippage: Slippage on EXNESS occurs seldom.

 

Conclusion

Generally, EXNESS is a broker with very tight variable spreads and excellent execution. What I dislike about, though, it is the leverage of 1:2000 for its mini accounts – I firmly believe that granting a trader (especially an inexperienced one) leverage that high is a recipe for disaster. After all, giving your traders a carte blanche to take unnecessary risks can’t lead to anything good.

EXNESS official site

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Site Score
5.4
User Score
7.0
FXOpen

FXOpen

FXOpen is a New Zealand based company that started out as an educational resources center in 2003 and became a foerex broker a couple of years later.

 

What platforms does FXOpen support?

At FXOpen you will find the Metatrader 4 (MT4) platform. While a newer version of the Metatrader platform is now available on the market, MT4 remains the most popular software application for forex trading. The platform is intuitive and user-friendly, and supports a wide range of tools to help you with your trading. Here are the highlights:

  • Awesome charting pack
  • Automated trading strategies & Expert Advisors (EA’s)
  • Strategy back-testing capabilities
  • Custom indicators available for download
  • Possibility of creating custom indicators in MQL programming language

FXOpen’s MT4 platform is available both for dealing-desk and ECN/STP trading.

 

How much money do I need to start trading with FXOpen?

If you have a dollar to spare, then you’re good to go. There’s not much you can do with a dollar anyway, so you might as well invest in something potentially profitable.
A dollar only grants you a micro account, though – if you want a standard one you’d have to deposit $25 or more, and the minimum initial deposit for an ECN account is $1,000. Here’s a brief comparison between the three account types:

Micro Standard ECN
Minimum deposit $1 $25 $1,000
Minimum trade size 0.1 Micro lot (100 units) Mini lot (10K units) Mini lot (10K units)
Maximum leverage 1:500* 1:500* 1:500*
Spreads Fixed Fixed Variable
Commission No No $2.5 per lot traded

 

*Maximum leverage depends on account size.

FXOpen accounts can be funded via credit/debit card, wire transfer, and a number of online wallets (for example Moneybookers/Skrill or Webmoney).

 

Is my money safe with FXOpen?

FXOpen is registered with the Financial Service Provider Registry in New Zealand (FSPR) and is a member of the Financial Dispute Resolution Scheme – so you shouldn’t be concerned about your money.

 

FXOpen’s trading conditions – spread, order execution and slippage

Spread: The spreads for micro and standard accounts are fixed and are about average: 2 pips on EUR/USD, 3 pips on GBP/USD and 2 pips on USD/JPY. For ECN accounts, spreads are variable and start from 0 pips.

If you are looking for tighter fixed spreads, you may want to head to another broker – e.g. ICM Capital, as its spreads are pretty tight: 1.6 pips on EUR/USD, 2.7 pips on GBP/USD, and 1.9 pips on USD/JPY.

The fixed spreads of DeltaStock are 2 pips on EUR/USD, 4 pips on GBP/USD and 3 pips on USD/JPY **.

** Spreads comparison data fed by ForexBrokerz.com

Execution: There are two types of execution you can choose from: dealing-desk and ECN/STP. With both modes, execution is very fast.

Slippage: Slippage is not common with this broker. For ECN accounts, FXOpen has a slippage control mechanism in place.

 

Conclusion

FXOpen is a decent, regulated broker with good spreads and fast execution. The ECN platform is suitable for scalping, and the micro account option allows anyone to start trading with as little as a dollar.

FXOpen official site

FXOpen – new & reviews 

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Site Score
5.4
User Score
0
FIBO Group Holdings Limited

FIBO Group Holdings Limited

FIBO Group Holdings Limited is a result of gradual development and globalization of FIBO Group brand. The company is registered in Cyprus and licensed by the Cyprus Securities and Exchange Commission (CySEC).

 

What platforms does FIBO Group Holdings Limited support?

FIBO Group Holdings Limited offers a couple of platform choices: Metatrader 4 (MT4) and Metatrader 5 (MT5).

MT4 is the most popular forex trading platform around the world. Traders of all skill levels prefer to trade with MT4 because of its intuitive interface and user-friendly navigation, because of its top-notch charts, technical analysis tools, and automated trading strategies & Expert Advisors. MT4 users can back-test trading strategies, and they can also download and create custom indicators.

MT5 is an upgraded and enhanced version of MT4. It allows for faster trade execution, one-click trading, more analytical tools and timeframes, and a built-in MQL5 environment for creating Expert Advisors. FIBO Group Holdings’ MT5 is currently used for trading via the NDD (No Dealing Desk) technology.

 

How much money do I need to start trading with FIBO Group Holdings Limited?

There are three account types offered: MT4 Fixed, MT4 Floating and MT5 NDD. To start trading with FIBO Group Holdings, you would have to make an initial deposit of at least $300.

  MT4 Fixed MT4 Floating MT4 NDD
Minimum deposit $300 $300 $500
Minimum trade size Micro lot Micro lot Micro lot
Maximum leverage 1:200 1:200 1:100
Execution DD DD NDD

 

Is my money safe with FIBO Group Holdings Limited?

Yes. The broker is registered and regulated by the Cyprus Securities and Exchange Commission (CySEC), and operates in compliance with the EU’s Markets in Financial Instruments Directive (MiFID). Customer money is insured through the Investor Compensation Fund and is kept in segreagated accounts.
FIBO Group Holdings Limited is registered with the FSA – UK.

 

FIBO Group Holdings Limited’s trading conditions – spread, order execution and slippage

Spread: FIBO Group Holdings offers variable spreads starting from 2 pips for MT4 Fixed accounts, 0.8 pips for MT4 Floating, and from 0 pips for MT5 NDD accounts.

To compare, the variable spreads of DF Markets, for example, start from 0.1 pips, those of FXCM – from 0.7 pips, and the ones of FxPro begin from 0.8 pips.

Execution: As I already mentioned, with this broker you can choose between a dealing desk and NDD/STP execution. NDD execution is instant, but DD traders often seem to witness delays.

Slippage: FIBO Group Holdings customers report that slippage is common with this broker.

 

Conclusion

FIBO Group Holdings Limited is a well-regulated broker that offers competitive variable spreads but these are combined with poor execution and common occurrences of slippage.

FIBO Group Holdings Limited – official site

FIBO Group Holdings Limited – ratings, comments & reviews

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Site Score
4.2
User Score
0
FIBO Group

FIBO Group

FIBO Group is a forex broker registered on the British Virgin Islands. The group was founded in 1998 and began offering forex trading in 2003. Since then, it has attracted a sustainable client base of forex traders and has made this its main business focus.

 

What platforms does FIBO Group support?

FIBO Group traders can choose between the Metatrader 4 (MT4) and cTrader.

MT4 is one of the most popular forex and CFD trading platforms around the world. Thousands of traders use this simple yet comprehensive application on a daily basis and take advantage of its trading instruments. Amongst MT4’s highlights are its technical analysis tools, Expert Advisors, charting pack, back-testing capabilities, user-friendly interface, etc.

cTrader is an ECN trading platform that supports NDD/STP execution and offers over 30 technical indicators, excellent charting, one-click trading and market depth information window. Read a cTrader platform review here.

FIBO Group also supports the MirrorTrader platform for automated trading.

 

How much money do I need to start trading with FIBO Group?

FIBO Group offers four types of trading accounts: MT4 Fixed, MT4 Floating, MT4 NDD, and cTrader STP. Here is the difference between the different accounts:

  MT4 Fixed MT4 Floating MT4 NDD cTrader STP
Minimum deposit $300 $300 $500 $300
Minimum trade size Micro lot Micro lot Micro lot 5 micro lots
Maximum leverage 1:200 1:200 1:100 1:100
Execution DD DD NDD NDD
Commission No No 0.003% of the transaction amount 0.003% of the transaction amount

 

Is my money safe with FIBO Group?

Fibo Group is registered on the British Virgin Islands; however it isn’t registered and regulated by the BVI Financial Services Commission, which is a bit weird. I would think twice before trusting them with my money.

 

FIBO Group’s trading conditions – spread, order execution and slippage

Spread: FIBO Group offers variable spreads starting from 2 pips for MT4 Fixed accounts, 0.8 pips for MT4 Floating accounts and from 0 pips for MT4 NDD and cTrader STP accounts. Other brokers with low variable spreads are DF Markets (spreads from 0.1 pips), FXCM (spreads from 0.7 pips) and FxPro (from 0.8 pips).

Execution: The broker offers two types of execution – dealing desk (market maker) and NDD/STP. If you sign up for an dealing desk (DD) execution, you will be trading against FIBO Group directly, whereas with NDD execution the broker only acts as a mediator between you and a pool of liquidity providers, offering the best possible quotes.

Slippage: Unfortunately I don’t have any information on whether or not slippage is common with FIBO Group.

 

Conclusion

FIBO Group offers a choice between DD and NDD execution platforms, competitive spreads and decent customer support; however, the broker’s regulation remains a grey area.

FIBO Group official site

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Site Score
4.0
User Score
5.0
InterTrader

InterTrader

InterTrader.com is a market maker, part of the bwin.party family – a leader in the online gambling industry. Anyone who has been a customer bwin.party will easily spot the similarities between the gambling and trading platforms – from the website design to the bonuses and Refer-a-friend program to the TradeBack scheme they offer.

 

What platforms does InterTrader support?

The platforms offered are InterTrader and MetaTrader 4 (MT4).

InterTrader is a web-based platform that can be accessed via any web browser and offers live charts, no re-quotes, fast execution, free research packages and flexible order handling & guaranteed stops.

Metatrader 4 (MT4) is a vastly used forex trading platform that supports pretty much any tool a trader needs: from built-in charting to technical analysis tools to custom indicators to Expert Advisors.

InterTrader also offers applications for iPhone/iPad and Android devices.

 

How much money do I need to start trading with InterTrader?

At InterTrader, there is no requirement for a minimum initial deposit. The maximum leverage offered by the broker is 1:300 and the minimum trading size – mini lot (10,000 units).

Accounts can be funded via credit/debit card, bank transfer and Moneybookers (Skrill). Currently, new depositors can take advantage of a sign-up bonus of 10% to a maximum of £1,000.

InterTrader also offers the TradeBack™ service that gets you a monthly rebate of up to 10% on your spread fees.

 

Is my money safe with InterTrader?

InterTrader.com is run on a technology platform owned and operated by London Capital Group (LCG). LCG is licensed and regulated by the UK Financial Services Authority (FSA) and is subject to the Financial Services Compensation Scheme.
Furthermore, all customer money is kept in segregated accounts so your funds are protected.

 

InterTrader’s trading conditions – spread, order execution and slippage

Spread: The broker offers fixed spreads that are pretty tight – 1 pip on EUR/USD, 2 pips on GBP/USD and 0.8 pips on USD/JPY.

Other brokers with tight spreads are 4xp and MB Trading:
4xp typical spreads: 0.6 pips on EUR/USD, 1.3 pips o GBP/USD and 0.6 pips on USD/JPY
MB Trading typical spreads: 1 pip on EUR/USD, 2.2 pips on GBP/USD and 0.8 pips on USD/JPY*.

* Spreads comparison by ForexBrokerz.com

Execution: InterTrader’s execution is fast and allows for scalping.

Slippage: Unfortunately, we don’t have any information about the slippage.

 

Conclusion

InterTrader offers great trading conditions in terms of spreads, however it seems to me that it is trying too hard when it comes to bonuses and promotions. Of course, this could be because of the broker’s affiliation with bwin.party – a company known for giving away lots and lots of bonuses; but then again, when we are talking about forex trading it is the spreads, execution and platforms that matter the most and not the bonuses one can get.

InterTrader official site

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Site Score
4.9
User Score
0
GFT Forex

GFT Forex

GFT is a large market maker that offers trading via the Metatrader4 and DealBook®360 platforms.

 

What platforms does GFT UK support?

GFT offers a choice between two platforms: DealBook®360 and Metatrader4.

DealBook®360 is offered in a desktop, web, and Android and iOS versions. The platforms integrates 8 chart types, a wide range of chart timeframes, over 85 technical indicators, and custom layouts.

Metatrader 4 (MT4) is the most commonly used forex trading platform. If features and excellent charting pack, automated trading strategies, strategy back-testing capabilities, custom indicators, etc. And what’s more, all this comes in a user-friendly and easy to use interface.

 

How much money do I need to start trading with GFT?

The minimum deposit requirement on GFT is $200/ £150. The maximum leverage you can take advantage of is 1:50 in the USA and 1:400 in the rest of the world. The minimum trading size is 1,000 units (micro lot).

 

Is my money safe with GFT?

GFT is one of the brokers that are strictly regulated. Here are the regulatory organs, under which it operates in the different countries:

  • The Commodity Futures Trading Commission (CFTC) in the USA – GFT is registered as a A Futures Commission Merchant (FCM);
  • Member of the National Futures Association (NFA) in the USA
  • Financial Services Agency (FSA) in Japan
  • Australian Securities and Investments Commission (ASIC)
  • Monetary Authority of Singapore (MAS)
  • Dubai Gold & Commodities Exchange (DGCX)
  • Dubai Multi Commodities Centre (DMCC)
  • Financial Services Authority (FSA) in the United Kingdom

 

GFT’s trading conditions – spread, order execution and slippage

Spread: GFT’s spreads are average – according to ForexBrokerz.com its typical spreads are 1.7 pips on EUR/USD, 2.5 pips on GBP/USD and 1.7 pips on USD/JPY (please note that this is dynamic data and may change in time).

The typical spreads of Oanda, for example, are 1.4 pips on EUR/USD, 2.6 pips on GBP/USD and 1.3 pips on USD/JPY; those of Alpari are 1.4 pips on EUR/USD, 2.5 pips on GBP/USD and 1.8 pips on USD/JPY.

Execution: As per customer reviews, GFT’s execution is not the best one you can find on the market – it is often slow and unsatisfactory.

Slippage: Slippage and re-quotes are common with this broker.

 

Conclusion

GFT is a heavily regulated and secure broker, however it’s execution is poor and the spreads are not the best that you can ask for.

 
 

GFT official site

GFT – news and reviews

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Site Score
5.0
User Score
0
Ava FX

Ava FX

Ava FX is an Irish market maker, founded in 2006 and regulated in the European Union, Australia and Japan. It offers a wide selection of trading platforms to suit every trader’s style, along with acceptable trading conditions.

 

What platforms does Ava FX support?

Ava FX supports a number of platforms for manual and automated trading: its own AvaTrader, Metatrader 4 (MT4), MirrorTrader, Zulutrade, Currensee and Ayondo.
AvaTrader is a platform which is easily adaptable to different trading styles. It is user-friendly and displays everything a trader needs in a single window. AvaTrader comes with a built-in charting pack and allows for one-click trading.

MT4 is the most popular software application for forex trading. It is preferred because of its integrated state-of-art charting, extensive technical analysis tool set, custom indicators, Expert Advisors and strategy back-testing options.

MirrorTrader is a platform which can be used for auto- or manual trading. With Ava FX’s MirrorTrader, you can trade at standard spreads without any commission or mark-up.

Zulutrade is another platform that allows you to mirror successful forex traders. It supports a web interface enables signals to be executed even when the computer is turned off and gives you access to hundreds of signal providers for automated trading.

Currensee and Ayondo are platforms for trading signals, similar to Zulutrade.

 

How much money do I need to start trading with Ava FX?

Whichever of the platforms offered by Ava FX you choose, you can start trading with as little as $100. The maximum leverage offered by the broker s 1:200 and the minimum trading size – 5,000 units (5 micro lots).

Ava FX accounts can be funded via credit cards, wire transfers and PayPal.

 

Is my money safe with Ava FX?

Ava FX is regulated by the Central Bank of Ireland and as other brokers such as AAAFx, Saxo Bank and Trading 212, operates in compliance with the European Union’s Markets in Financial Instruments Directive (MiFID).

In Japan, the broker is regulated by the Financial Services Agency (FSA Japan), the Financial Futures Association of Japan, and the Commodities Futures Association of Japan. Ava FX’s regulator in Australia is ASIC.

The broker is regularly audited by Grant Thornton and keeps its customers’ money in segregated accounts.

 

Ava FX’s trading conditions – spread, order execution and slippage

Spread: Ava FX’s spreads are fixed – 3 pips on EUR/USD, 4 pips on GBP/USD and 3 pips on USD/JPY.

Compared to the fixed spreads of other brokers these are a bit wide – DF Markets, for example, offers spreads of 2 pips on EUR/USD, 4 pips on GBP/USD and 3 pips on USD/JPY on their DF Trader platform, and ICM Capital recently decreased their spreads to 1.6 pips on EUR/USD, 2.7 pips on GBP/USD and 1.9 pips on USD/JPY.

Execution: As I mentioned at the beginning of the review, Ava FX is a market maker; its execution is pretty good, however during news there are re-quotes.

Slippage: The broker’s average slippage is 2.10 pips (data provided by ForexBrokerx.com).

 

Conclusion

Ava FX is a well-regulated broker that offers acceptable trading conditions and a vast selection of platforms for manual and automated trading.

 
 

Ava FX official site

Ava FX – news and reviews

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Site Score
4.5
User Score
5.8
InstaForex Review: A Paradise for Gamblers

InstaForex Review: A Paradise for Gamblers

Is my money safe with InstaForex?

To cut the bullsh*t and get straight to the point – I don’t think so. InstaForex is an offshore company registered in Belize – an English speaking country in Central America, which is a hospitable destination for questionable capitals. If InstaForex just decide to stop answering their calls or emails, there is simply no institution or regulator you can contact to get your money back.

Despite its claims of having over 250 offices all over the world, as well as 400 new customer accounts every day, InstaForex is does not provide any information on its own capital – and doesn’t present any warranty on its customers’ money.

To compare, US brokers such as Forex.com, Oanda and FXCM are obliged to release information about their own capitals publicly, and accounts of up to 20,000 Euro with EU-regulated brokers are protected by the Investor Compensation Fund.

How much money do I need to start trading with InstaForex?

InstaForex requires a minimum deposit of only $1 and offers nano-lot trading (100 currency units). Nano lots allow for proper risk management even with a small deposit but you need to invest at least $100 at first. Credit and debit card deposits are accepted at InstaForex, as well as transactions via Liberty Reserve, Alertpay, Moneybookers/Skrill and WebMoney. You can also deposit and withdraw money for free with the InstaForex debit card.

All in all, InstaForex seems to be the perfect broker for all small-time gamblers.

Which one of InstaForex’s trading platforms to choose?

InstaForex only supports MT4 – the most popular Forex trading platform in the worlds. MT is quite intuitive and you will get used to in a blink of an eye. The platform’s charting set contains all the technical analysis tools that you need. You can also create your own custom indicators and auto-trading algorithms (a.k.a. expert advisors or EAs) or download them straight from the MQL database.

The only disadvantage of the MT4 is the lack of a browser-based version of the platform.

What about InstaForex’s trading conditions – spread, order execution and slippage?

Spread: InstaForex offers a 3 pips spread on each major currency pair, including EURUSD. For comparison, the average spread of DF Markets and Oanda is about 1 pip, and most of the other brokers offer spreds of under 2 pips. You can compare the spreads of over 30 Forex brokers here.

Slippage: InstaForex uses „Instant Execution” and market orders are executed without any slippage – at the requested price. On a volatile market, however, InstaForex is likely to deny your order and offer you a new (usually worse) price.

InstaForex Review    Belize Regulator – official site

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Site Score
4.7
User Score
0
Saxo Bank

Saxo Bank

Saxo Bank is a strictly regulated Danish broker established in 1992. It offers good trade execution through the MT4 and its own SaxoTrader platforms.

 

What platforms does Saxo Bank support?

SaxoTrader, SaxoWebTrader, SaxoMobileTrader and Metatrader 4: this is what you can choose from.

Metatrader 4 (MT4) is the industry’s star, being all popular loved by many, many traders. The platform is nice to look at, easy to use and supports a super set of features to enhance your trading – charts, custom indicators, automated trading strategies, strategy back-testing capabilities, etc.

SaxoTrader is Saxo Bank’s own professional trading platform that offers a secure trading environment, high execution speed, and a vast selection of trading modules. Here is what you can expect from SaxoTrader:

  • Complete product range – 160+ FX crosses (incl. Spot Gold/Silver)
  • Fully customizable trading interface, complete with prices, market analysis, data and news modules, technical analysis and charting functions.
  • Extensive market analysis, streaming news service and direct access to Saxo Bank dealers via a two-way dealer chat module.
  • Deep liquidity, one-click trading and full range of trade & order functionality.

Unfortunately, however, the SaxoTrader platform seems to be experiencing quite a few bugs – just to give you an example, the chart refreshing is simply not working. It takes ages for charts to refresh, and the most traded currency pairs have the biggest lag – especially during volatile times. It seems to me that Saxo’s trading server is overloaded but their customer support denies it as if their lives depend on that.

Another thing I’m not particularly happy with is that it takes a gazillion of clicks to do anything around the platform – so if you are a scalper, Saxo Bank is definitely not your broker.

SaxoWebTrader is the browser-based version of SaxoTrader and SaxoMobileTrader is a version designed for mobile devices. There are also designated iOS and Android phones/tablets.

 

How much money do I need to start trading with Saxo Bank?

The amount of money you need in order to start trading with Saxo Bank depends on whether you sign up for a MT4 or a SaxoTrader account.

The MT4 platform supports a single account type, whereas with SaxoTrader offers a choice between Classic, Premium and Platinum accounts. Here are the basics of all account types:

MT4 SaxoTrader Classic SaxoTrader Premium SaxoTrader Platimum
Minimum deposit $/£/€ 100 No minimum deposit requirement $100,000 $500,000
Maximum leverage 1:200 1:200 1:200 1:200
Minimum trade size Micro lot (1K units) 5 micro lots (5K units) 5 micro lots (5K units) 5 micro lots (5K units)

 

Is my money safe with Saxo Bank?

Saxo Bank A/S is a fully licensed and regulated European bank, as well as a member of the Danish Guarantee Fund for Investors, an institution established by the Danish parliament. If a Danish bank (including Saxo) suspends its payments or goes broke, client deposits are guaranteed by the Fund with up to EUR 100,000 for cash deposits.

Saxo also operates in compliance with the European Union’s Market in Financial Instruments Directive (MiFID) so your money will be safe and sound with this broker.

 

Saxo Bank’s trading conditions – spread, order execution and slippage

Spread: The typical spreads for Saxo’s MT4 platform are 2 pips on EUR/USD, 4 pips on GBP/USD and 3 pips on USD/JPY. For SaxoTrader, the typical spreads are 2 pips on EUR/USD, 3.2 pips on GBP/USD and 2.2 pips on USD/JPY. These are pretty wide, especially in comparison with other brokers – see for yourself:

VantageFX’s spreads: EUR/USD – 1 pip, GBP/USD – 2 pips, USD/JPY – 1.5 pips.
FxPro’s MT4 spreads: 1.9 pips on EUR/USD, 2.5 pips on GBP/USD and 1.9 pips on USD/JPY.

Execution: Even though Saxo seem to be experiencing issues with their servers, the execution is very fast and carried on with little or no slippage.

Slippage: According to the data from forexbrokerz.com, Saxo Bank’s average slippage is 2.03 pips.

 

Conclusion

Saxo Bank is a well-regulated broker so your money will be safe with it, however its trading conditions are not the best that you will find.

Saxo Bank – comparison, reviews and ratings

Saxo Bank Official site

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Site Score
5.0
User Score
6.0
Trading 212

Trading 212

Trading 212 is the British branch of the Bulgarian broker Avus Capital. The broker operates in accordance with the European Financial Directive MiFID, and is licensed and regulated in 8 countries.

What platforms does Trading 212 support?

The broker offers a unique, web-based trading platform, developed to meet the needs of traders of all skill levels. I signed up for a demo account to get a feel of the platform – and boy, was I surprised when it only took me 20 seconds to register! Compared to Forex.com, who made me register not once but twice, this was really impressive.

Trading 212′s platform features a charting package, one-click trading, great execution, and other tools to enhance your trading, such as professional analysis and an economic calendar.

How much money do I need to start trading with Trading 212?

To open a live account with Trading 212 you need as little money as $200 or €100. Once you’re account is created, you can trade micro lots (1,000 currency units).

The maximum leverage is 1:100 but it can be increased to 1:200 upon request.

Is my money safe with Trading 212?

Most certainly. As I mentioned at the beginning, Avus Capital is licensed and regulated in 8 countries in Europe; in the UK, the broker operates under the supervision of the FSA. All customer funds are kept in segregated accounts and are insured by the Investors Compensation Fund.

Trading 212’s trading conditions – spread, order execution and slippage

Spread: With this broker, you can trade either with fixed, or with variable spreads. The fixed spread for EUR/USD is 3 pips, and the variable one for the same currency pair begins at 1.9 pips (please note that when trading with variable spreads, the minimum trade size is mini lot, or 10,000 currency units).
Execution: Trading 212 is a NDD market maker – so all the traders are executed automatically. Trade execution is very fast.
Slippage: Slippage at Trading 212 is within the acceptable limits.

Conclusion

Trading 212 is a trustworthy broker with decent trading conditions. The broker’s greatest advantage is its light, intuitive and user-friendly platform that gets you trading in no time.

Trading 212 Official Site

Trading212 – Reviews and Special Promotions

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5.0
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9.3
OANDA Site Demo

OANDA

Oanda is one of the most popular forex brokers around the world. It is registered with 7 regulatory organs and offers consistently low spreads, deep market liquidity and excellent execution, thus becoming many traders’ forex trading provider.

 

What platforms does Oanda support?

At Oanda, you will find the Metatrader 4 (MT4) and the broker’s own fxTrading platform.

Metatrader 4 has gained so much popularity amongst forex traders, that it has pretty much become standard for the industry and most brokers offer it to their customers. The greatest advantages of the MT4 are the user-friendly interface, great charting pack, and the vast technical analysis and indicators tool sets.

Oanda fxTrade is designed to offer lower trading costs and better execution, so it appeals to anyone looking for consistently low spreads, deep market liquidity, and quick and fair execution. The platform is available in desktop, web and mobile versions.

 

How much money do I need to start trading with Oanda?

If you can sacrifice one day’s morning coffee, then you are good to go: at Oanda, you can start with an initial deposit of $1. That’s not news – other brokers have no minimum deposit requirement either (e.g. DF Markets) – however, at Oanda you can actually trade with a dollar, at a maximum leverage of 1:50.

Plus, you get to choose amongst a number of payment methods such as credit/debit card, wire transfer, PayPal and some country-specific options.

 

Is my money safe with Oanda?

Talk about heavily regulated – Oanda holds a gazillion licenses, just take a look:

  • OANDA Corporation: registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC); a Forex Dealer Member (FDM) of the National Futures Association; incorporated in the state of Delaware, USA.
  • OANDA Asia Pacific Pte. Ltd.: regulated in Singapore by the Monetary Authority of Singapore;
  • OANDA (Canada) Corporation ULC: regulated in Canada by the Investment Industry Regulatory Organization of Canada (IIROC);
  • OANDA Europe Limited: authorized and regulated by the FSA in the UK;
  • OANDA Japan Inc.: holds a Type 1 Financial Instruments license from the Japanese FSA; it’s registered with the Kanto Local Finance Bureau, and is a member of the Financial Futures Association of Japan.

But wait – there’s more! Oanda is also registered with the NFA and CFTC, and is regularly audited by KPMG.

What was the question again? Oh, yeah – your money is safe with this broker.

 

Oanda’s trading conditions – spread, order execution and slippage

Spread: Tight. Oanda’s typical spread on EUR/USD is 1.3 pips, on GBP/USD – 2.5, and on USD/JPY – 1.2 pips*.

Let’s compare:
Alpari, for example, offers close (but still wider) spreads: 1.5 pips on EUR/USD, 2.6 pips on GBP/USD and 1.9 pips on USD/JPY*.
The spreads of FXDD are 2.2 pips on EUR/USD, 3.5 pips on GBP/USD and 2.1 pips on USD/JPY*.

*Data derived from forexbrokerz.com; please note that it’s dynamic and can fluctuate in time. 

Execution: OANDA fxTrade is a fully automated trading platform in which OANDA plays the role of a market-maker. The execution is super-fast and efficient.

Slippage: Slippage at Oanda is rare, and goes both ways (e.g. there are also positive price corrections).

 

Conclusion

If you haven’t figured it out already, I find Oanda to be a safe&secure, fair broker with excellent trading conditions. Thumbs up, Oanda!

OANDA Official Site

OANDA – Reviews, news and Promotions

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9.0
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9.1
FXSOL

FXSOL

FX Solutions (also known as FXSOL) is a US broker that opened for business back in 2001. It offers the a choice of trading platforms, fixed spreads and commission-free trading.

What platforms does FX Solutions support?

At FX Solutions, you can trade with Metatrader 4 (MT4), the industry’s most popular platform, and with the broker’s own GTS platform.

Metatrader 4 is a powerful, yet user-friendly platform supporting a number of great features, including an outstanding built-in charting package, Expert Advisors, technical analysis tools, etc. With MT4 traders can download any of the pre-made custom indicators, as well as develop their own on the MQL programming language. The platform comes in desktop, iOS and Android versions.

GTS is a trading platform that was developed by FX Solutions and also comes in different versions – desktop, web, iPhone/iPad and mobile (Windows Mobile, Blackberry, MIDP and Palm). GTS Pro, the desktop version, is fully customizable and incorporates the following features:

  • One-click trading;
  • Price tolerance functionality;
  • Multiple stops/limits;
  • Trading alerts;
  • Enhanced market orders;
  • Economic indicators and data calendars, etc.

How much money do I need to start trading with FX Solutions?

The minimum initial deposit requirements at FX Solution is more than acceptable – $250, which can be deposited via credit/debit card, paper cheque, bank wire or PayPal.

The maximum leverage is 1:50 and the minimum trade size is a micro lot.

Is my money safe with FX Solutions?

FX Solutions is regulated as a Retail Foreign Exchange Dealer (RFED) by the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association . This means that if anything were to happen to your funds, there are regulators you can file a claim with.

FX Solutions’s trading conditions – spread, order execution and slippage

Spread: FX Solutions offer fixed spreads of 3 pips on EUR/USD and USD/JPY, and 4 pips on GBP/USD.

This is a bit steep, compared to other brokers with fixed spreads – TadawulFX for example offers 2 pips on EUR/USD and USD/JPY, and 4 pips on GBP/USD. The fixed spreads of ACFX are the same as these of TadawulFX*.

* Spreads comparison data provided by ForexBrokerz.com

Execution: FX Solutions is a market maker. According to its website, over 99% of the broker’s orders are processed automatically, which makes the execution pretty fast.

Slippage: The broker’s own platform, GTS Pro, has an integrated price-tolerance functionality, which ensures that no-requotes happen and that price improvements are possible along with slippage. The average slippage is 1.38 pips, which is acceptable (data source: ForexBrokerz.com).

Conclusion

All in all, FX Solutions seems to be decent broker with sensible trading conditions.

FXSOL Official Site

FXSOL – Reviews and Comparison

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ACFX

ACFX

ACFX is a trade name of AtlasCapital, a subsidiary of Atlas Bank– a Cyprus-based forex broker, regulated by the CySEC and registered with the FSA in the UK.

What platforms does ACFX support?

ACFX offers the Metatrader 4 (MT4) platform – the forex industry’s most favorite trading platform. Amongst the platform’s benefits are:

  • Outstanding built-in charting tools;
  • Expert Advisers;
  • User-friendly interface
  • The possibility to download and/or create custom indicators
  • A large set of technical analysis tools, etc.

The platform is offered by almost every forex broker on the market – for example Oanda, Forex.com and Alpari.

According to ACFX’s website, the broker will soon start offering the web version of the MT4 too. In the time being, traders can also take advantage of the apps for iPhone, Android and iPad.

How much money do I need to start trading with ACFX?

ACFX customers can sign up for one of three types of accounts: Classic, VIP and STP. With a deposit of $50 you can open a classic account and start trading right away.
Here are the features of all three account types:

Classic

VIP

STP
Minimum deposit $50 $10,000 $20,000
Maximum leverage 1:500 1:200 1:100
Minimum lot Mini lot (10K) Mini lot (10K) Mini lot (10K)
Spreads Fixed Fixed Variable
Execution Instant Instant Direct Market
Commissions No No Yes

You can fund your account via the following payment methods: credit/debit card, Moneybookers, NETeller, WebMoney, CashU and wire transfer.

Is my money safe with ACFX?

Certainly. ACFX is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is fully compliant with the Markets in Financial Instruments Directive of the European Union. The broker is also registered with the FSA UK, holds customer assets in segregated accounts, and is audited by Pricewaterhouse Coopers and Deloitte&Touche – respectable, world-renowned financial auditors.

And as if that’s not enough, clients’ funds up to 20,000 EUR are also insured through the Investors Compensation Fund.

Long story short: ACFX is super safe. Don’t worry about depositing your money with them.

ACFX’s trading conditions – spread, order execution and slippage

Spread: The spreads for Classic and VIP accounts are fixed and the ones for the STP – variable from 0.8 pips.

The fixed spreads are as follows:

   Classic Account VIP Account
EUR/USD 3 pips 2 pips
GBP/ USD 4 pips 3 pips
USD/JPY 3 pips 2 pips

Compared to the spreads of other brokers, the Classic account spreads are a bit wide, yet the ones for VIP Accounts compare well. For example, the spreads of TadawulFX, another CySEC regulated broker with fixed spreads, are 2 pips on EUR/USD, 3 pips on GBP/USD and 2 pips on USD/JPY.

FxPro, another broker from Cyprus, offers the following typical spreads: EUR/USD – 1.9 pips; GBP/USD – 2.6 pip; USD/JPY- 1.9 pips.

Execution: The execution of Classic and VIP account orders is pretty fast even during high volatility.
Slippage: Re-quotes and slippage at ACFX are within the reasonable margins.

Conclusion

If you are looking for a reliable, trustworthy broker, you can’t go wrong with ACFX. Along with brokers such as Trading Point, VantageFX and FXCM, this one is heavily regulated and your money will be protected. The different account types and good trading conditions offered by ACFX make it suitable for traders of all skills and levels.

ACFX – Review and News

ACFX Official Site

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HY Markets

HY Markets

Fixed spread, FSA regulation and Metatrader 4. If that’s all you need in order to make money, you can have it with HY Market. Oh yes, recently they launched MT4 compatible mobile trading platform,that allows you to access you MT4 account by your iPhone, iPad, Blackberry or Android powered device anytime, anywhere.

Minimum deposit with HY Markets is just $50, but I recommend you to invest at least $750 and to open a Standard account. In that way you will enjoy 3 pips fixed spread (instead of 4 pips fixed spread if you open $50 Mini account), but unfortunately you will not be able to trade micro lots.

Keep in mind that if you don’t want to trade the range during Asian session or scalp the market during news releases, you don’t need fixed spread and you can find a much cheaper broker.

HY Markets Official Site

HY Markets – News, Opinions and Comparison

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Site Score
4.9
User Score
5.5