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Forex Club Review

Forex Club Review

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Background:

Forex Club was first opened in 2005, in New York City. It offers several different trading platforms (ActTrader, ExpressFX, and Rumus), and leverage of up to 1:100 with a minimum deal size of 1,000 units. The broker opens over 1,000 demo and live accounts each and every day for clients around the world. The broker was the nation’s fastest growing forex broker in 2011, and attributes that success due to its devotion to its clients.

Advantages of Using This Broker:

One of the biggest advantages that we noticed with using Forex Club is that you can open an account with as little as $200. BY allowing this, traders can practice with little money, to get the feel of live trading without significant risk to themselves or the financial health.

Another great advantage was the included Autochartist, a piece of software that deciphers charts and patterns in a clear and concise way. If the market is forming a wedge – Autochartist will point that out automatically. It is a great way to get significant training in technical analysis during live market conditions. In fact, we found that it was surprisingly accurate, and found quite a few good trades by using it.

If you open an account with $1500 or more – you get free signals as well, which can be helpful in taking advantage of the current situation in the FX marketplace. The TradingCentral service is available only through this broker, and is very helpful if you are starting out. To have an expert on your side is certainly an advantage in the FX markets.

Deposits and Withdraws:

Depositing funds to Forex Club accounts is easy as it can be started online. You can use Credit Cards, (MC or Visa) Money Bookers, Bank Wire, Online Check, Mailed Paper Check, AlertPay, and even a Money Order. Of course, depending on which method you use, deposit time will vary. However, with this many options – there is a convenient way for everyone. We found funding to be very fast and easy as we had our account up and running very quickly.

Bank Wires and Checks are available for the withdraw method, and both have a $5 processing fee, yet can be initiated on the broker’s website.

Customer Service:

Forex Club has several different customer service options. There is live chat via the website, E-Mail, and the standard phone support. You can even request a callback from the website if you wish, and they will contact you! Because of this, we found customer service very helpful and quick, as we called with a few “trial questions” that were answered professionally and quickly, with knowledge and confidence.

Regulation:

Forex Club is registered FCM with the CFTC, as well as a member of the NFA in the United States. This assures the trader that it is a legitimate broker and is often scrutinized in order to keep the playing field level and fair. We certainly found the broker to be fair, and trader-friendly.

Conclusion:

Forex Club is a solid broker through and through. With the regulation, Autochartist, and several options for trading platforms, you will find it amazingly flexible and suitable for your trading needs. Forex Club kept surprising us with its many features and usefulness. The broker has come a long way since its inception, and appears to be pushing forward with its stated goal of becoming one of the best brokers in the world.

The spreads are good, and the company even has a “Forex Club TV” channel that will keep you on top of what’s going on in the FX world. We found the channel to be very informative, as well as entertaining. By far and far, this broker seems to really have its act together, and the large amount of new client’s everyday is a direct result of this.

Click Here to Visit Forex Club

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Easy Forex Review

Easy Forex Review


Background of Forex Broker:

Easy Forex was started by a group of bankers and FX market experts in 2001. The goal of Easy Forex was to build a FX trading platform that is easy to use by new traders and experts alike. Easy Forex is the market maker, having liquidity provided by UBS and RBS, two of the largest banks in the world.

The company headquartered in Cyprus, while having offices and trading rooms worldwide.

Advantages of using this broker:

As the name suggests, The Easy Forex site and platform is simple and very user friendly. There is even an iPhone application that users can take advantage of in order to trade on the go. Easy Forex also has a web based proprietary platform , and also the world’s most popular trading platform, MetaTrader 4. Because of this, you will find trading software that is right for any situation.

Deposits and Withdraws:

Easy Forex accepts deposits by major credit card, wire transfers, and even PayPal. Because of this, the trader can find plenty of ways to fund their account. After setting up the original withdraw, the subsequent ones are done in a much more automated and smooth manner.

Customer Service:

Easy Forex assigns an account manager for every trader who becomes a client. The account managers at Easy Forex are available during normal working hours. After you sign up with Easy Forex, you will be contacted by the account manager that will walk you through the trading staion. Technical support is also available 24/7 at Easy Forex.

Regulated by:

Easy Forex is regulated by the Commodity Futures Trading Commission and is also a National Futures Association member. Easy Forex is also licensed in Europe and Australia.

Conclusion:

Easy Forex is a heavily regulated and trustworthy Forex broker that was built by traders, for traders. You will find that the spreads are competitive, with the typical EUR/USD spread being 2 pips. Easy Forex does not accept US residents as traders.

Click Here to Visit Easy Forex

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Etoro Review

Etoro Review


Background of Forex Broker:

eToro is the one of the leading retail Forex brokerages in the world. It is known mainly for its fun and simple trading platform and intuitive graphical interface. eToro has a wonderful demo trading platform in order to get used to the interface, and is encouraged to be used by the firm, as there is an active community in eToro’s forum that is constantly testing and analyzing trading strategies.

Advantages of using this broker:

EToro’s website is a very user friendly place with lots of information available easily. The sheer amount of educational tools that are available is mind boggling. The broker boasts having a very active trading community with forums, allowing traders to share strategies and thoughts about the markets as they learn together.

eToro’s web-based platform is something that has to be seen to believed. It features several different types of graphing, even one type that shows different characters in a race, each dressed as a traditional member from said country. (As an example, if the US Dollar is gaining momentum over the Japanese Yen, you will see a cowboy running faster than the Sumo wrestler!) All of eToro’s platforms allow traders to easily configure their orders, and more importantly, their risk in the marketplace.

Deposits and Withdrawals:

eToro allows you to deposit and withdraw via wire transfers, all major credit cards, Neteller,PayPal,  and Western Union, as well as many others. The withdraw process is simple, once the withdrawal form has been filled out. eToro is very easy to withdraw money from, but the online form is a must, as it ensures identity.

Customer Service:

eToro allows phone, e-mail, or chat assistance 24/7. eToro is well-known for its customer service, as it is top-notch. It is in customer service that eToro really shines.

Regulated by:

eToro is regulated by the Cyprus Securities and Exchange Commission, CYSEC. As such, traders can feel safe depositing their money with eToro.

Conclusion:

eToro has made its name known by offering what could be one of the simplest platforms on the market. The service that you get through them is legendary, and the dealing spreads are fixed, and low. The eToro forum is packed with great traders willing to help, as well as offer their advice as well. Because of this, eToro is a great choice when it comes to Forex brokers.
Click Here to Visit Etoro

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AVAFX-Review

AVAFX-Review


Background of Forex Broker:

AVAFX was established in 2006 by the Ava Group, a global investment fund out of Dublin, Ireland. The broker is a Forex and CFD (Contract for difference) broker that offers FX, metals, grains, and Index futures.

Advantages of using this broker:

As mentioned above, AVAFX allows the trader to participate in the world of futures trading, as well as Forex. This opens up many more opportunities to the retail investor, as the minimum trade sizes allows the average man to trade such previously expensive markets like oil.

AVAFX allows all of these markets to be traded from a single platform, and as such, will allow you to participate in various correlated markets. AVAFX uses a proprietary platform, as well as MetaTrader4.

Deposits and Withdrawals:

AVAFX accepts all major credit cards, MoneyBookers, Neteller, WebMoney, and PayPal for funding accounts, as well as withdraws.

Customer Service:

AVAFX has multi-lingual 24/7 chat and phone support available to traders.

Regulated by:

AVAFX is regulated by the Irish Financial Authority and the FSA out of the United Kingdom. As such, AVAFX is regulated by two of the most stringent regulatory bodies in the world.

Conclusion:

AVAFX allows the average trader to gain from the movements in not only the FX markets, but all of the various futures markets that AVAFX so generously offers. Because of this, traders that select AVAFX as their broker will find that they will have several trading set ups a day.

AVAFX offers mobile trading, and two desktop platforms that are easy to use. Independent analysis is available through the AVAFX trader platform, and the spreads are from 2 pips. $100 can open up your first account at AVAFX.
Based on their great customer support, the ease of deposit and withdrawal and competitive terms, AVAFX is a name you will want to consider.

Click Here to Visit AVAFX

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FxOpen Review

FxOpen Review

Background of Forex Broker:

FXOpen was started in 2005 in Cairo, Egypt. FXOpen has the distinct honor of being the first MetaTrader 4 broker to offer an ECN environment as well. Because of this, FXOpen has been recognized as a leader in the Forex world.

Advantages of using this broker:

Living up to its name, FXOpen is a brokerage that is open to all. The micro account can be opened with as little as $1, making trading available and affordable to all peoples the world over. Because of this low minimum deposit, FXOpen has clients from all corners of the globe.

FXOpen offers up to 500:1 leverage, allowing a trader to maximize returns with such a generous amount of available leverage.

Deposits and Withdraws:

FXOpen accepts credit card deposit and withdraw requests. Wire transfers and several of the world’s leading payment transfer system. It should be noted that PayPal is not one of them however.

Customer Service:

FXOpen has various kinds of customer service. You will notice this right away, as there is an exhaustive amount of education available on their site.

In the more traditional customer service sense, FXOpen shines as it has live chat options, which is manned 24/7.

Regulated by:

FXOpen is an established broker in the country of Mauritius, and as such is regulated by the Financial Services Commission of the Republic of Mauritius.

Conclusion:

FXOpen is an extremely flexible broker that allows everyone the chance to trade. With accounts opening with as little as $1, everyone can use them. Using that small deposit ability, FXOpen is a great broker because it allows people to “try them out” before committing a serious amount of capital. FXOpen also allows the trading of spot gold and metals, as well as generous fixed spreads on currency pairs from 2 pips. It should be noted that due to recent regulations.

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Finexo Review

Finexo Review

Background of Forex Broker:

Finexo opened in 2003 as a white label broker for Saxo Bank. As such, it is backed by one of the largest players in the Forex world. Liquidity is never going to be an issue with Finexo.

Advantages of using this broker:

Finexo has its own trading platform called ForexTrader, which is a derivative of the much-loved SaxoTrader from Saxo bank. It is an easy to use web-based platform that is easy enough for the beginner and complex enough for the pro. Finexo also offers CFDs, which allow you to trade oil and other commodities.

Finexo offers a daily market update in the trading platform and through the email that keeps traders up to date with the happenings around the financial world.

Deposits and Withdraws:

Finexo accepts wire transfers, Liberty Reverse eWallet, WebMoney, and credit cards. With Finexo, the withdraw process is a little more complicated as verification is necessary.( In order protect their users from fraud)

Customer Service:

Finexo offers 24 hour chat support, as well as phone and email support.

Regulated by:

Finexo is regulated by the Cyprus Securities and Exchange Commission. Because it is regulated in the E.U., you can feel assured that it is a legitimate broker. Finexo is also backed by the above mentioned Saxo Bank, one of the largest in the E.U.

Conclusion:

Finexo is a well regulated and backed Forex broker. The ability to trade CFDs is a huge advantage as well. Finexo has the added bonus of market updates and news, as well as independent analysis.

Finexo has its own platform, ForexTrader which is based upon Saxo Bank’s SaxoTrader. As such, you know that the execution at Finexo is going to be world-class.

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Guidelines For Choosing a Forex Broker

  

When you trade Forex online, you must have a broker. Years ago, the choices were very limited, and deciding which one to use was easy. But with the explosion of the Internet, finding the best Forex broker is a little more complicated, as there are so many to choose from now. In this article, we will take a look at the things that you will need to take into consideration when looking for the best Forex broker for your situation. 

 The Spread 

 When you place a Forex trade, the difference between the ask price and the bid price for a currency pair is called the spread. When you trade, your buy order is executed at the ask price and your sell order is executed at the bid price. Most Forex brokers make their money from the difference of the two. In other words, they make money off of the spread. Because of this, some Forex brokers will widen the spread in order to make more money for themselves. The spread will cut into your potential profits, as you have to pay more for the trade. You should always try to find the narrowest spread, as it is important in finding the best Forex broker for your trading business. 

 Fixed or Variable Spread? 

 When you place an order, the broker will quote a spread for your trade. It is vital to understand whether or not that spread is fixed, or variable. There are arguments for both as to which one is being used by the best Forex brokers. The truth is that it depends on the trader. 

 If you are worried about a pip or two, in other words a small time frame trader, then fixed spreads is going to be necessary in order to scalp the markets. However, if you do not trade news related events, then the variable spread is probably the one for you. The reason being is that the variable spread is most often the smaller of the two, except during time of low liquidity, like news announcements. Make sure you know how your broker calculates the spread before joining. 

 Limit/Stop Orders: 

Some brokers will guarantee stop and limit orders, while other don’t. Typically the best Forex brokers do, but the true ECN environments simply can’t. If there isn’t an order there to match yours – you won’t get filled at that price. Make sure you know this ahead of time. 

 Trading Platform: 

 The platform is crucial as well when determining the best Forex broker for you. It makes sense that you open a demo account first, in order to get a feel for the platform as there are plenty of options for trading software. Make sure you know the platform well before you trade with real money. The best Forex brokers will always offer a demo account. If a broker doesn’t they should be avoided at all costs. 

 Mini Accounts 

 Mini accounts are crucial, and offered by all of the best Forex brokers. If you are just starting out, you might want to open a mini account with your broker. The minimum balance can vary, but some of them can be opened with as little as $1. The best Forex broker for you will almost certainly have this feature, as it also allows you to get very specific with risk parameters on a trade, such as risking $135.60 instead of the next rounded number. The reason is that the Mini accounts allow you to trade smaller lot sizes. 

 The above points are very important to consider in order to find the best Forex broker for you. Each of these points has to be considered in order to achieve success through your broker. No matter who turns out to be the best Forex broker for your situation, you will have had these questions answered in order to trade confidently.

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