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MT4 Brokers - IBFX,FXDD,NorthFinance,MARKETIVA and Fibogroup
Dear Friends I've studied some nice brokers, most use MT4, to compare, here they are.
1. IBFX
Leverage: 100:1
Commissions: None
Pip spread on majors: 2/3 pips
Minimum account size for Regular Account: $2,500
Minimum account size for Mini Account: $250
24 Hour trading: Yes
Free demo account: Yes
Live support chat: No
Withdrawals: Bank wire(credit card)
2. NorthFinance.com
Leverage: 500:1
Commissions: None
Pip spread on majors: 2-3 pips
Minimum account size for Regular Account: $1,000
Minimum account size for Mini Account: $100
24 Hour trading: Yes
Free demo account: Yes
Live support chat: Yes
Withdrawals: Bank wire, e-gold, can provide free Visa Electron Card
3. FXDD
Leverage: 200:1
Commissions: None
Pip spread on majors: 2/3 pips
Minimum account size for Regular Account: $5,000
Minimum account size for Mini Account: $500
24 Hour trading: Yes
Free demo account: Yes
Live support chat: No
Withdrawals: Bank wire, PayPal, Check
4. MARKETIVA
Leverage: 100:1
Commissions: None(charges for withdrawals)
Pip spread on majors: 2/3 pips
Minimum account size for Regular Account: $1
Minimum account size for Mini Account: $1
24 Hour trading: Yes
Free demo account: Yes
Live support chat: Yes
Withdrawals: Bank wire, e-gold, e-bullion
5. FIBO GROUP
Leverage: 200:1
Commissions: None(charges for withdrawals)
Pip spread on majors: from 3 pips
Minimum account size for Regular Account: $300
Minimum account size for Mini Account: $300
24 Hour trading: Yes
Free demo account: Yes
Live support chat: Yes
Withdrawals: Bank wire
So, what do u think about them? Only personal experience!
Hope this will help to anyone to choose the best.
Last edited by FXcleaner; 11-06-2006 at 12:09 PM.
Reason: As per user 'YupYup' information - corrected data on FXDD
Im new in Forex .......need help please .......that is an interesting Topic .. Im looking for one good broker not Marketiva because i started there, Can someone in Forex-tsd give me suggestions which one can i re-start.
I'm relatively new to the 'dinosaurs' of fx trading. But i have my own preferences. From these brokers, which, i think, are the most interesting for all sort of traders(inc. news traders), NF is more likely to be preferred, just telling facts: look at the figures!
Come on FXCleaner... you sneaky man I prefer FXDD and they offer 200:1 leverage on there mini accounts, just so you know. The problem with North Finance, and maybe it won't be a problem with you, is that they require a position to be held for AT LEAST 10 minutes. If you liquidate the position before the 10 minutes, they consider that scalping, and well... you'll probably get flagged. Also they are not regulated by the NFA (some people will probably flame me here, so go ahead and flame away). But this doesn't mean that they are not a good choice, it's all up to your personal preference
I don't know if NF does it too, i don't use them, but FXDD and Interbank have been known to widen their spreads before big news times, last i heard a couple of guys on here were saying the spread was 30 pips or something during something or another... I don't know though, i don't trade news so it doesn't apply to me.
Come on FXCleaner... you sneaky man I prefer FXDD and they offer 200:1 leverage on there mini accounts, just so you know. The problem with North Finance, and maybe it won't be a problem with you, is that they require a position to be held for AT LEAST 10 minutes. If you liquidate the position before the 10 minutes, they consider that scalping, and well... you'll probably get flagged. Also they are not regulated by the NFA (some people will probably flame me here, so go ahead and flame away). But this doesn't mean that they are not a good choice, it's all up to your personal preference
I don't know if NF does it too, i don't use them, but FXDD and Interbank have been known to widen their spreads before big news times, last i heard a couple of guys on here were saying the spread was 30 pips or something during something or another... I don't know though, i don't trade news so it doesn't apply to me.
Thanks for info YupYup, considering leverage of FXDD, I've already changed it
To tell u the truth, I'm with NorthFinance, and from my personal experience, the '10 min rule' does not always apply to real life. If you are their 'good' client, and if you use scalp not too often - they will close their eyes on it
This actually is the most important - the way they treat their clients is perfect, I've never seen such treatment in any other organization.
In todays market almost all brokers' spreads are not fixed: FXDD, NorthFinance, IBFX, etc. are not exceptions. But I believe NF has the shortest ones during news(one of my news traders friends told me).
P.S. The world does not stop on NFA
Yes, I think that we know that you are very close to NF.
Personally I think that the most important criteria for choosing a broker are missing. At least:
- are they regulated or not and if yes by which organisation
- in which country are they based (beware of fiscal paradise)
- how much do they widen the spread during the news
- what about requotes and slippage, execution time
- what is the minimum time you have to held a position
..
I think that leverage like 500:1 only may help your broker to get the money quicker. Personally I will never use more than 10:1 so I don't care if I can use 100 or 500
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