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Friday, November 19, 2010

Find the right Forex broker

This is a follow up on my venture trying to find a good Forex broker. My initial post can be found here.

Out of my already filtered list:

- Alpari
- ATC Brokers
- Oanda
- MB Trading

I am reducing it even more ...
After more research I think that any of the ones mentioned above are just fine, unfortunately I don't have enough money to open an account on each one of them. Personally I am choosing between OANDA and ATC Brokers by now. OANDA regulated by the NFA and CFTC, ATC Brokers regulated only by the NFA according to this.

ATC on the other hand is an ECN broker whereas OANDA is not. They both offer Metatrader platform, they both offer demo trading. They both offer 50:1 leverage which many people do not like but I think is the result of being regulated and having to adjust to the rules. One more thing: In spite of OANDA not being an ECN broker they are based in Toronto, Canada, that is, here, my city, and I of course like that part.

I have been through many reviews and I can hardly find anything bad being said about ATC,...although I do not believe much in online reviews. There are some things said about OANDA, not always good, but I cannot give credit to every thing said by everybody. I guess I wanna take my chances and experiment by myself. At this point I am thinking of opening accounts simultaneously on both. I will follow up on whether or not that is the final decision. Wish me luck.

Related articles:
First month results in Alpari-Uk

Go to the bottom of this page in order to see the Legal Stuff


  1. A lot will have changed now with all the failures for forex trading companies.

    1. Absolutely my friend.
      I know OANDA is doing just fine as it is my broker.
      But I also know for example that the almighty Alpari is going out of business.
      The good thing about the Swisss Franc fiasco is that it threw crappy brokers into the garbage.

  2. Agree I just stick to using IB for forex good enough for me to try small trades and learn.