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Old 04-23-2007, 08:33 AM
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davidke20 davidke20 is offline
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Quote:
Originally Posted by Fay
Hello,

Please help new traders and tell us about your experience with those two brokers as I find they are the largest and the safest brokers existing now..
PLEASE only those who have real accounts with this people review them.

FXCM: no dealing desk accounts
Oanda:

Thank You
FX*M has the ultimate extreme high pip spread in the world. You cant find any broker has higher spread then them in the history and possible in the future as well. Their trade execution is the suickiest ever you can experience, even DEMO account. They've wiped me out 2 live account. Their hunting stop(both fixed spread and non dealing desk), hunting orders and widen spread(for non dealing desk only) is the best optimized server you can never find anywhere. If you have a long order at 1.9100, current price is 1.9000, they can actually widen spread 100pips to take your order and come back to the price of 1.9000. If you have a stop loss at 1.8990, current price is 1.9000, you can see your running order disappear suddenly and found them on the history, that said you've hit your stop loss. When you have a 1.9010 take profit point, you can actually see the candlesticks formed at 1.9015, then the market price plunge down. But your order did not hit TP and follow by a loss. When you finger a phone to their customer support, they'll tell you the spread during that time is 6pips, you're 1 pips close to bail your position, sorry we cant do anything to your position. Server freezing time up to 30 minutes and above during NFP. FX*M is the world largest broker and also the biggest con job ever in the forex world.

OANDA provide JAVA realtime platform. Fast execution and low pip spread. World 3rd largest retail brokereige firm. Capable for API(Advanced Programming Interface) auto trading. Quite costly but worth it due to highly efficient execution. Disadvantage is the pip spread is very inconsistance during financial event or major announcement. Once saw the NFP hit 200pips spread. Most people got whacked big time during that announcement. BUT, they actually admitted is their own fault and refunded whoever make a loss during that financial event. For me, their the best retail broker ever exist besides of no MT4 platform, this is the only thing I concern

Regards

David
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