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Is there a Reputable Forex broker out there?
I'm considering trying out online forex trading. What are the better and honest sites? Is there ever any problems withdrwalwing funds from your acct?
8 Answers
- 1 decade agoFavorite Answer
Use brokers that are really big.
Not those that need to give you freebies, free $$$ in your account to attract you in.
Oanda, fxcm, ibfx are some honest brokers.
14 years of full time forex trading experience
Asia Forex Mentor
Ezekiel Chew
Source(s): http://www.youtube.com/watch?v=ZY1PcZN61jM http://ezinearticles.com/?Forex-Price-Action---Wha... http://www.asiaforexmentor.com/ - Anonymous5 years ago
Hi Jeffery Windsor Brokers have been my brokers for several years and I have used them for several years - they are based in Cyprus (as many are that reside outside the US). They have fixed spreads which don't fluctuate during news, an incredibly strong customer service ethic (don't undervalue this in a broker) and I think won best FX broker for this region in 2010. I have used for everything from micro to mega accounts an d received fantastic support no matter the size of my account. I have never found a need to change - they were recommended to me by a buddy of mine so I feel lucky to have found them when I started. Forex Peace Army (you probably already know of them?) are a good resource for reviews of many FX related products. And ignore the answer about copying trades - he's probably an employee of the company. May the pips be with you!
- 1 decade ago
Any trading firm that is regulated in the US should be okay. If they have retail offices in the U.S. or are registered here means if they rip you off you can file complaints and it's federal violation. I had a problem with a discount firm a few years ago (sally something discount brokers) when they got bought by another firm. I sent out one e-mail (some complaint address on government regulation). I received an apology letter from company owner, check, and her card to call her directly if any other problems ever come up.
They are regulated pretty heavily so make sure registered in United States and think there is a national database of registered securities dealers/brokers but not sure exactly where it is. Should be able to google it.
Know didn't answer exactly what you wanted but hope that helps.
- 1 decade ago
Use ETF's or mutual funds instead. There is a lot of FOREX fraud. ETF's and mutual funds will give you diversification and the ability to move money around. I think of foreign currency exchange as something that should not be done by novices. It does not give you diversification. Also, when you invest in an on-line FOREX program, who do you call if you have a problem?
- 1 decade ago
I use FSA Regulated Forex Brokers Breeze FX they have also just launched a very good forex affiliate scheme, so I make money by trading and referring
- 1 decade ago
From sites I prefer DailyFX and ActionForex.
From brokers Alpari UK is a well known and stable Company.
I am trading with Alpari many years with no problem.
Withdrawals after 1 or 2 days in your bank account.
It's based on MT4 platform.
They have low spreads and good support team.
Hope that helps
John Koularmanis
- 1 decade ago
Best to invest in gold or silver we are headed for a global financial collapse. Much of it is due to the way our telecommunication infrastructure is partitioned in overlay...dirty secret no one is yet talking about. If telecommunications infrastructure doesn't go into convergence soon things will get much worse.We are in a worldwide economy and our telecommunications infrastructure is affecting the world.
- Anonymous1 decade ago
Honest answer? No, there isn't.
Forex is not a "reputable business", it is just gambling. Not that gambling is not fully legal, but "reputable" is hardly a word you would apply to a bookie, now is it?