Broker with best spread...

Also be careful with the Swiss 'regulation'.

Actually it means nothing, and all the regulation they present you are organisations they have started themselves. Nothing by law in Switzerland!!!

If you want safety go for a Canadian government insured account. Then you are covered up to 1 mio CAD, but at a price, as leverage will be less, but then again, 1:200 when used, will lose most traders their money anyway!
 
I prefer brokers located in Switzerland like MIG as that country tightly regulates Forex, which we do not in this country. Also Switzerland does not levy any tax on capital gains.
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It is possibly lies .
Was participant by FX contest(month) in Swiss for 5000 euro account first price

by www.realtimeforex.ch

After two week have had 292% .Broker
shut downed system for 8 hours and eliminated result .
After that Broker public accepted
"technology error" ,but not payed 5000 euro(result was best alsov after
1 month)

Swiss EBK(USA SEC analog) in e-mail stated to author ,that FX in Swiss is not regulated
and must complain to cantonal court in Genf
( weit one year ?)

Swiss broker's calculated for broadly
public ,that person ,which not payed
tax in he's country ,would not wish publicity
in court .

Autor tryed to compalin Swiss broker in Germany (as operated which iin Germany)
But BAFIN resended to Swiss
 
This doesn't agree with my own observations. Swiss Broker "Forex.ch" was shut down by their governmental auditor for "weakness in their IT operations" -- I tried to log on to them myself during the period they were shut down. After they increased their IT computing power and staff, they were allowed to resume operations. Again I logged on after they came back up.

There is no way any broker in the US -- even if their futures operations were regulated -- would be shut down for weakness in their IT operations. Our government just doesn't assign resources to "auditing" Forex Brokers. They wouldn't audit them at all in the first place, but if pressed, would merely say that the market would take care of such things itself -- just give it time.

Forex Brokers in Switzerland are regulated by the Swiss Federal Dept. of Finance. This organization is NOT a Broker originated group like someone here said, but a department of the Swiss Federal Government. Just try and find a similar function in our own Federal Government. And don't think Futures regulators have any power over Forex operations.

In this country a company named Refco, Inc. operated as refcofx.com went public in August 2005 and went bankrupt via Chapter 11 in October 2005 due to fraud by their CEO Phillip Bennett. Their Forex operations were bought by FXCM after which their clients regained access to their money. But their shutdown occurred only due to bankruptcy, not from auditing or regulations prior to that point.

As for me, I will stick with Swiss Brokers. I have had problems with four US Brokers although I'm sure there must be good ones out there.

Charles Wilkes
 
Quote from cfw123:


In this country a company named Refco, Inc. operated as refcofx.com went public in August 2005 and went bankrupt via Chapter 11 in October 2005 due to fraud by their CEO Phillip Bennett. Their Forex operations were bought by FXCM after which their clients regained access to their money. But their shutdown occurred only due to bankruptcy, not from auditing or regulations prior to that point.
More...

Refco HAD an agreement to sell their fx customers to FXCM which would have allowed Refco customers full access to all their monies, but Refco creditors rejected the sale because they wanted a higher price for the unit. FXCM upped their 120MM offer to 160MM, but was still rejected. In the end, those customer assets were picked apart by the creditors and the customer list was sold to Gain Capital for something like 3MM and those customers got cents on the dollar of their investment back. Please research properly!
 
Quote from cstfx:

Refco HAD an agreement to sell their fx customers to FXCM which would have allowed Refco customers full access to all their monies, but Refco creditors rejected the sale because they wanted a higher price for the unit. FXCM upped their 120MM offer to 160MM, but was still rejected. In the end, those customer assets were picked apart by the creditors and the customer list was sold to Gain Capital for something like 3MM and those customers got cents on the dollar of their investment back. Please research properly!
More...

70 cents on the dollar, to be exact.
 
This doesn't agree with my own observations. Swiss Broker "Forex.ch" was shut down by their governmental auditor for "weakness in their IT operations" -- I tried to log on to them myself during the period they were shut down. After they increased their IT computing power and staff, they were allowed to resume operations. Again I logged on after they came back up.

There is no way any broker in the US -- even if their futures operations were regulated -- would be shut down for weakness in their IT operations. Our government just doesn't assign resources to "auditing" Forex Brokers. They wouldn't audit them at all in the first place, but if pressed, would merely say that the market would take care of such things itself -- just give it time.

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Autor experience with different contest's in different countries

Germany ,all brokers are not pure agent of principal's
BAFIN(SEC) head of derivative (with nobility background -von) was in contact very good - Commerzbank payed win

USA - Marketzar , Pressing from Court of Iowa
payed

USA -Etrade /Yahoo not payed


Swiss -realtimeforex.ch -not payed .

Autor disscused matter with high court of Swiss,EBK &

Forex in Swiss is not regulated from EBK (Swiss SEC-CFTC analog) only through Court ,not payed


USA public noted pure agent's of principal's as AMTD /after sell of NITE/ and OXPS are good .

TOS have had conflict.

SEC office in contact good .CFTC/NFA heavy

U.K. -FSA ,worst impression

P.S . AS example realtimeforex.ch have worst own capital
quote in relation to USA FX leader's
 
I'm glad for your reply. I did research as deeply as Google provided me, even though I pay google for extra results in all cases. They said what I said. However I think much of what I was able to read from Google was "plans" and I'm sure you are totally correct, as plans in such cases seldom reach their desired results. But they did word their reports as "facts", not plans as I think it really was.

Charles Wilkes
 
I did research as deeply as Google provided me


....


But author payed with moeny ,which won ,but not received.

Clear for different persons ,experience is and can be different
 
Spreads are nonsense. Execution is what the game is all about. Too many brokers out there claiming tight spreads but lousy execution.

I disagree with the prior poster saying that anyone that doesn't charge commissions is a dealing desk. If I trade stocks I pay a spread (markup by the market makers) plus a commission.

If I trade forex I pay either the Interbank spread plus a markup by my broker or a commission by my broker. The midpoint of the spread is still the same.

It is all about execution. Dealing desks need you to lose to make money, Non dealing desks get a commission or a rebate. When I research a broker I search the boards for details of trade execution. That is the hidden cost. Some companies are touted for very small spreads, but artificially widen spreads before news and in my experience will slip you on your trades as well as marking up the spread big time during volatile markets.

Look for a broker that gives you a choice between price certainty and and execution certainty. Your broker should give you many types of orders that help you control whether you will accept any slippage. The broker that doesn't restrict what type of trades you can make is most likely the closest thing to a no dealing desk broker.
 
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