I have looked at top fx brokers and the less known ones. All of them seem to be reviewed poorly. I found complaints including:.
I found several such complaints for almost all top brokers. It's so discouraging especially when you still need to beat the odds in the forex market and make profit only to realize that your broker wont let you get away with your profits easily. I found the same problem with stock market.
All brokers i checked out have issues, so it makes me wonder if we the little guys are being openly ripped off. Are there reliable brokers? That is a lot of money, to put it mildly. The AMF receives well over complaints about Forex scams in a year.
So to answer the question, yes, there are reliable Forex brokers out there, but they are few and far between and you need to be very careful until you find one. Yes - myself and hundreds of other professional independent and ex-institutional traders who know what they're doing, and understand the difference between a genuine broker who wants their clients to win, and a counterparty market-maker who has a direct incentive for them to lose.
We're all "lucky for now". Yes - there are some complaints about IB, just as there are about every long-establshed successful brokerage in the world. There are also occasionally people who drop dead from a heart attack while shopping in Marks and Spencer, but that doesn't make Marks and Spencer a cardiac health hazard - it just makes them a company with millions of shoppers.
It's important to appreciate the difference between causation and correlation - in assessing brokerages just as in trading. People who are actually making a living from their trading tend to use genuine brokers such as IB and AMP, rather than counterparty market-makers pretending to be brokers. Yes there are a lot of reliable forex brokers that you can find online. Just when you are searching for a broker try to visit their websites first. Also there are a lot of websites that provide with forex brokers details and reviews.
Before you go and open an account first have a look at their reviews, comments and details. For Forex, it appeared to me they are a market maker. I've had an active stock account with IB for several years. They do not provide hand holding to clients.
If you are new to trading, IB is probably not your best choice. There is a learning curve for their trading platform and other resources. For stability, safety of funds and broker professionalism, IB is a good choice. I suggest to check it out maybe you are interested. So, I like to know which broker you think is the best suited for beginner? I am working out with Tradewisefx company at the moment, I tried various companies like Octafx, Freshforex and many more, but it just not makes me comfortable with many things, I hope my experience remains positive with TWF, but still I like to hear which broker you work with or like?
Also, do you think TWF is reliable? So far I am really enjoying with them. Have you tried EasyForex? I find it suitable for beginners. When you open an account with them they offer a free Forex training. IB platform is way to complicated for normal retail trader and their customer service sucks!!!
Make your mind up, every post you recommend a different broker. I've never had any issues with them, they are very reliable and trustworthy. I really recommend them. Is there a reliable forex broker at all? I found complaints including: Do you know a good broker from which you had no issues, withdrawn your money from frequently. They're called "Interactive Brokers". Google will show you the way to their website. They too have lots of nasty complaints forexrealm.
I agree with allfxbrokers,also make sure broker is regulated. There are lots of kinds of regulations depending for each country. Some brokers that have Minimal lot size for a Mini account: I have checked few brokers including IB.More...