What experiences do you have with the FX Broker you use for FX Trading(Live)?

Share them here!

Hey, no one is telling about his/her experiences here!

Okay, I will set the ball rolling next week, with my experiences with NorthFinance(now called FXPro)

I want to set the ball rolling with my experience with North Finance, now known as FXPro

I want to score the platform in the following areas

*Customer Service & Friendliness

*Slippages in market quotes and market manipulation

*Transparency In Honouring withdrawal requests

*Ease of closing winning trades/positions

*Efficiency In responding to customer complaints



I used North Finance between October 2006 and February 2008, and my rating is as follows

*Customer Service & Friendliness
Score 65%- North Finance had a good customer service and the staff members are generally courteous and friendly
*Slippages in market quotes and market manipulation
Score 85%- I can not recall experiencing any significant slippages and market manipulation

*Transparency In Honouring withdrawal requests
Score 90%-They were very professional in the handling of my withdrawal requests. I made about 7withdrawals in my 17months stint with this broker

*Ease of closing winning trades/positions Score 75%- my own assessment as at the time I used them was good, I was able to manually close trades at the point I wanted most of the time

*Efficiency In responding to customer complaints
Score 65%-They were above average in responding to customer complaints.

However, the above assesssment is my personal judgement of North Finance that is now known as FXPro. I have not used FXPro in my trades

For those interested in trading Forex, I have some good ebook to give out for free. If interested, please email seun_64@yahoo.com

Please let's not derail this topic, we are discussing our experiences with the FX Broker we use here!

Next week, I will be sharing my experience with FX Solutions(www.fxsol.com)!

I am certain you don't want to miss this

So let us go, I am rating FX Solutions today, remember, the US office no longer accept NIgerian FX Traders because of the way we are!

*Customer Service & Friendliness [/b]Score 65% just good in Customer service and friendliness

[b]*Slippages in market quotes and market manipulation
Score 10%- I did not experience any slippage & market manipulation during my 7month sojourn with them

*Transparency In Honouring withdrawal requests Score 90% very fast and efficient in handling withdrawal requests. I did 5 withdrawals with them

*Ease of closing winning trades/positions Score 85% I did not experience any significant difficulty in closing winning trades Grin

*Efficiency In responding to customer complaints [/b]Score 70%- they are efficient in treating complaints

[b]I always tell people that FX Solutions is one Broker I missed doing business with, all because I am a Nigerian

So let us go, I am rating FX Solutions today,

remember, the US office no longer accept NIgerian FX Traders because of the way we are!

Please throw more light on the highlighted portion.

its so lovely to be a forex trader, i trade with lite forex.

@Jamace

A few years ago, precisely between 2005-2007 when we had an avalanche of Ponzi Schemes(wonder banks) that were masquerading as Investment houses, the owners of these wonder banks were lying to their depositors that they were into FX Trading and so they could afford to pay the scandalous interest rates that they were promising the naive and the gullible that invested with them.

Afterwards, when pushing turned to shoving and less money was coming in through the front door than what was leaving through the back door, they were lying to their depositors that their FX Brokers have yet to honour their withdrawal requests, that was how some of these Ponzi kings named FX Solutions as one of their brokers that have yet to remit their withdrawals!, trust your naija kindred, who started bombarding these brokers with all sorts of mails from the reasonable to the absurd, from appeals to insults!

FX Solutions being one firm that believes in best practices, decided to close the trade accounts of everyone domiciled in Nigeria!, na so we take reacj where we day so

I think every FX Trader of good conscience should contribute to this thread.

Its not easy to be among the 4.5% that does well in FX Trading and it can be very disheartening for you to make a withdrawal request and things start to unravel, and that's the more reason why everyone of us most share our experience here so that others will learn from such and become wiser.

Thank you all for your time

I have been trading FX with Master Forex for the past Two years. I like them for Instant trade Execution, transparency in Withdrawals, minimum deposit. it's really good for beginners especially nigerians.

@Cpatsea

I have never heard of the broker you wrote about before, I believe you will do us all a lot of good by sharing your experiences with them using the headlines I deployed in analysing the brokers I have written about. That way we will be able to see the broker in specific areas and niches.

However, I thank you for sharing your experiences with us and looking forward to further explanations from you.

my own understanding of a good broker is where the broker is located and the kind of law that governs biz inn that country.I prefer uk broker cos there is law there and its resppected to the topmost.I personally will not trade with a us broker cos of the legal dynamism there and the cost of gettinng into the country if ur broker try anything funny,but for uk if my broker to try anythinng before hey im already there with my anthony.going for broker oustside these two coutries mmeans im living in the country otherwise its a suicide mission.it might behard to understand if ur acct is below 50k and ur withdrawal is always less than 20k.
above all most of all thse brokers are just bucket shop anyway.there are a lot brokers out there that are just mushroom and there to swindle unsuspecting traders of their money,ppl myt not know these because the equity is nnotenough for them to chop so they simply wait and hope that one day u will build or fund ur acct to wat they want.

Guy u r too much. I luv ur analysis. Pls give me ur yahoo ID. I nid 2 hear people lyk u speak.

magragold:

I want to set the ball rolling with my experience with North Finance, now known as FXPro

platform is the trading software and the broker is northfinance
I want to score the platform in the following areas

*Customer Service & Friendliness

*Slippages in market quotes and market manipulation

*Transparency In Honouring withdrawal requests

*Ease of closing winning trades/positions

*Efficiency In responding to customer complaints



I used North Finance between October 2006 and February 2008, and my rating is as follows

*Customer Service & Friendliness
Score 65%- North Finance had a good customer service and the staff members are generally courteous and friendly
*Slippages in market quotes and market manipulation
Score 85%- I can not recall experiencing any significant slippages and market manipulation

*Transparency In Honouring withdrawal requests
Score 90%-They were very professional in the handling of my withdrawal requests. I made about 7withdrawals in my 17months stint with this broker

*Ease of closing winning trades/positions Score 75%- my own assessment as at the time I used them was good, I was able to manually close trades at the point I wanted most of the time

*Efficiency In responding to customer complaints
Score 65%-They were above average in responding to customer complaints.

However, the above assesssment is my personal judgement of North Finance that is now known as FXPro. I have not used FXPro in my trades

i dont agree with ur northfinance rating. i remember back then when i was just starting up trading this crazy market. i started out with northfinance.
i rushed to start trading live back then and it was with this broker and trust me i got burnt heavily. i remember a guy then that deposited 1k and brought it up to 10k, but was lter denied of withdrwal, and u know what this crazy broker did, they wiped out the guy acct to zero. this also happen to me but my own equity wasnt up to 10k.
their customer care sucks and so is the withdrawal. after my personal experience with them i started advising everyone that care to listen to desisit from using some mushroom broker from cyprus.
lately i have a friend that told me that they are now fxpro and that he is using them to scalp the market for his daily swagga money,he said they are up and doing but still im skeptical.but come to think of it they are now in uk, so i can try them and if they try anything funy this time around they are going to pay.
on the issue of market slippage, thats the core on which all mt4 brokers are built on unless u set it to maximum derivation and also u trade with speed of light network which we dont av in nigeria.

i wont advice anybody to go withthe broker unless u are going with the uk branch.

^^^^Gbam!
was someone trying to use style to advertise their company?
breeze don blow o!

@Beejaaay

You see that is the essence of this thread, getting to have a diverse pool of opinions about each broker.

However. I am surprised and disappointed with the wild cards experience you had with North Finance. I really wonder why they do this selective stunt and its even more bewildering because I wasn't withdrawing pittance from my account.

I however appreciate your contributions to this thread!

Next week I will be discussing my experience with FX Solutions(www.fxsol.com), watch out!

@Jamace

A few years ago, precisely between 2005-2007 when we had an avalanche of Ponzi Schemes(wonder banks) that were masquerading as Investment houses, the owners of these wonder banks were lying to their depositors that they were into FX Trading and so they could afford to pay the scandalous interest rates that they were promising the naive and the gullible that invested with them.

Afterwards, when pushing turned to shoving and less money was coming in through the front door than what was leaving through the back door, they were lying to their depositors that their FX Brokers have yet to honour their withdrawal requests, that was how some of these Ponzi kings named FX Solutions as one of their brokers that have yet to remit their withdrawals!, trust your naija kindred, who started bombarding these brokers with all sorts of mails from the reasonable to the absurd, from appeals to insults!

FX Solutions being one firm that believes in best practices, decided to close the trade accounts of everyone domiciled in Nigeria!, na so we take reacj where we day so

Thanks for the explanation.

Guys, what do you think of Alpari UK?

I want to open an account with them, cos I've heard they're good. Only that their requirements are so tough.

Also, what does Alpari Nigeria have to offer? Are they good?

Alpari what?, naija?

Be careful, before someone seperate you from your money!

Alpari what?, naija?

Be careful, before someone seperate you from your money!

Please, advice on a broker. This news of broker horrors scares me stiff in this forex biz. Any way, I'm demo trading on FX PRO.

magragold:

Alpari what?, naija?

Be careful, before someone seperate you from your money!

Yes, Alpari is now represented in Nigeria. I have seen their office at Allen Avenue Ikeja. I have read it from their website before actually seeing the office.

Alpari is now represented in Nigeria as what?, an Introducing Broker?, a representative office or what??

@ Kashif

You are missing the point, it does not border on skepticism at all, the responsibilities, job description and limits for a FX Broker, a representative office and an Introducing Broker are well delineated and spelt out.

Can someone give me the link to the alpari website where they got the info from?

A protegee called me at a time and told me some things that I wasn't too comfortable with so I warned him against it. It is from that background I am asking the status of that office that is at Allen Avenue. Can someone shed more light on that, please?