forex brokers, page-3

Honest brokers...I don't think so.

You really need to think about a few things when it comes to a broker.

1. Amount of Capital to invest.
2. Preferred platform
3. Server locations
4. Your own hardware and network setup

Anyone can give a review on a broker but it can be impacted by any of the above.

e.g.
1. Can be the difference between going to an ECN or Market Maker broker. An ECN will charge lower spreads and commission. Trades will be straight through processing. A Market Maker will manipulate the spread (however, this is very small and to cover commissions), no commissions, may hedge against your position.

2. Brokers have different platforms available. The defacto platform is MT4 for most brokers. Different platforms have different trade-offs and ability for automated processing, notifications and trading.

3. Yes, server location can impact you. Forex trades trillions each day. If you look at the ticker and not the bar charts, you will notice that the price is almost never still. This means that your trade can be impacted by slippage, an invalid trade criteria or lag. As fast as computers are, lag from getting your request to a response from the broker can occur.

4. Your own hardware and network setup can also impact trading. If there is any lag on the system to send out a request to the broker, you will be impacted. Platform indicators and robots WILL impact you computer in some way. This could be processing time, a high amount of resource requirements or high amount of networking. Best to test this out. Do some benchmarking if you use many indicators and robots.

Personally, I trade using an MT4 broker. I am a manual trader and I do not use many indicators. If a trader is blaming their broker for dishonesty, they should call their broker up on it and finding out the facts, instead of having a sook. Brokers closing out positions and pushing higher to hit stop losses is an excuse by an unsuccessful trader. Any good trader knows that common stop loss levels can cause price action to move quickly through a trading range. You will notice a spike generally happens.

My advice, get a demo with a broker you like. Test it out and compare over a month or two and then select one if your happy with your results.

Cheers,
Miike