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watc out from swiss.
Rumor says they're gonna investigate and eventually may close all swiss forex brokers, just like they did to neuimex (great broker btw) a few months ago.
not that they did anything wrong, it seems like swiss "nfa" is trying to set some rules to forex there, and supposedly will check out the rest of brokers one at a time.. i stick to good old uk.... |
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So, is there now a good, big, MT4 broker ?
From all the brokers in the 120 list I find NONE in the SELECTED FCM FINANCIAL DATA LIST or they are underfunded. Like fxdd seems to be Tradition North America Inc (according to Bongrak from Golden money tree), but in the list is no such company, but there is: TRADITION SECURITIES AND FUTURES INC. This is not the same company. So this is a broker from which we know NOTHING: Not regulated, not insured, no idea about capital, yearly profit. Are they wealthy or at the border of bankruptcy? Who is the boss ? The only thing you get is an address and a telephone number. I am frustrated about the lack of regulation and information in this forex broker jungle. Why does it takes years before the government of the USA takes the steps to organize this? It seems so they are gone do something in the near future ... lets see. Or should we trust Alpari UK ? Where can we find any info about their capital requirements and excess capital ? I ringed to MIG in Switserland and asked the guy on the phone if he could provide some info from a government source (or any 3th party) about the financial situation of MIG. I got only commercial blabla as a reaction. Customers are not supposed to ask such a question. ![]() JP |
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One example (but it doesn't mean that I recommend them) is Forex Liquidity alias FXLQ. They are funded correctly and you can have customer services through one of their IBs. Being in the list doesn't make them 100% trustable but at least you have some information. |
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Jlpi, Forex Liquidity, do they use MT4 ? They are not in the MT4 brokers list and on their website they speak about "MultibankFX Trader 4" . Is that the same as MT4?
Prasxz thanks for the tip. I overlooked Interbank FX and they seem to be the only decently funded MT4 broker of which we have enough data and USA based, beside ODL (who has a bit of a bad reputation and made also to me not such a great first impression.) I made a thread about ODL in order to get some experiences from traders. I have never heard of them before and nobody commented about them. So InterbankFX can be the MT4 broker to go with. And MB as a good second, if they get an extra million to increase there capital to 5 million. Tyger01, my dilemma with UK & Swiss brokers is (like yours) how do you get enough info about them ? How do you find out about there financial situation? MIG was, in a telephone call, not prepared to disclose anything about (verifiable) financial results of their company. JP Last edited by Pipperoni : 08-11-2007 at 08:54 AM. |
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But I insist on the fact that this is not a recommendation: I am not here to promote any FCM or IB. |
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