Anybody use micro Forex brokers?

clambill · Mar 5, 2009

I was kind of considering PFGFXlite.com as a broker.

cstfx · Mar 6, 2009

Oanda is the best micro-fx broker. You can trade with as little as $1.

ATL-FXTrader · Mar 7, 2009

i have heard really good things about fxcm micro. Completely different then their regular account stuff. No IB fees in the micro spreads and I'd be willing to bet they loose money on their micro side.

cabletrader · Mar 7, 2009

Quote from cstfx:

Oanda is the best micro-fx broker. You can trade with as little as $1.

Agree.

clambill · Mar 7, 2009

Quote from ATL-FXTrader:

i have heard really good things about fxcm micro. Completely different then their regular account stuff. No IB fees in the micro spreads and I'd be willing to bet they loose money on their micro side.

If I remember correctly, FXCM is one of those brokers that does not allow residents from Quebec, Canada. This is rather weird as there are others like DBFX, IBFX, MB Trading and etc will not open accounts for residents of Quebec. This is kind of a cheap deal for me.

ATL-FXTrader · Mar 7, 2009

Quote from clambill:

If I remember correctly, FXCM is one of those brokers that does not allow residents from Quebec, Canada. This is rather weird as there are others like DBFX, IBFX, MB Trading and etc will not open accounts for residents of Quebec. This is kind of a cheap deal for me.

Yup that is absolutely true! What is the deal with that?

clambill · Mar 7, 2009

Quote from ATL-FXTrader:

Yup that is absolutely true! What is the deal with that?

I think they need an office in North America or something like that. I can't remember exactly.

ATL-FXTrader · Mar 7, 2009

Yes I'm just wondering why the restriction. Nigeria? yes I can understand but Canada? lol

I mean come one you guys aren't THAT bad.

total_keops · Mar 7, 2009

I think Quebec have it's own provincial rules when it come to trading. It's all under l'Autorite des marches financiers. And maybe they are a little bit more hard on the requirements.
Think or Swinm also was not opening down here. I dont know if it changed when TD bought them.
But we still have a lot of choice and we can even trade CFDs.

http://www.lautorite.qc.ca

dewton · Mar 7, 2009

Quote from ATL-FXTrader:

i have heard really good things about fxcm micro. Completely different then their regular account stuff. No IB fees in the micro spreads and I'd be willing to bet they loose money on their micro side.

Perhaps FXCM-micro is offering such good service because it's new and they want to attract new customers.

You never know when they'll suddenly decide to screw everyone over...