I'm looking at Gallant FX. On some web pages you have them as STP. On other pages you have then as using a dealing desk for some accounts. The Gallant FX website claims they have no dealing desk. How am I ever going to know the truth?

Hi BG

FXcompany here still listed as (NDD).

Hi,

Very good site. I enjoyed follow the conversation here and I am very impressed with this Trader guy checking out every broker on the planet and BrokerGuru adding it. I am also looking for a safe and competitive (low spreads or commission) forex broker and it is a jungle out there with plenty of brokers and it is a new and booming business attracting many new broker firms.

I am Swedish and want a Swiss broker for best safety, integrity, regulation and privacy and forex profits are not taxed in Switzerland. I have checked out over 20 different Swiss brokers and it is hard to find any real good one. FXT Swiss had one pip spread on 5 major pair, but there phone no did not work, there fax no was disconnected, but there e-mail support worked okay, no company information to speak of, no information of owners, share capital, etc. Another one was Sigma Forex, offering 1 pip on 12 pairs, they was classified as a scam at Forex Peace Army, with plenty of people having problem of withdrawing their money, taking months to complete. One must be very, very, very careful out there and really check out the broker very closely and start out with a small account first and do a few withdrawals to make sure everything work and make if they go bankrupt ones money is protected. It seems to me many shady companies are using Swiss god reputation as a financial center, Swiss government must be very aggressive in making sure these new Forex brokers is very well regulated and funded so they do not destroy the Swiss trade mark. Switzerland has 35% of the worlds private capital under management and 6.1% market share of currency trading (UK has 34% and US 17% and Japan only 6%).

Since I am used to trading E-mini futures (ES, NQ, YM) on CME exchange in USA, I am used to trading through a broker on an exchange and paying commission, ES (e-mini future on S&P 500 index) is worth $12.50 per tick (smallest price movement and spread) and a round trip (buy and sell or vice versa) cost about $4.50, in Forex 1 pip is $10 for a standard lot of $100.000 in EUR/USD, so there is plenty of money for the broker for a round trip.

I like the ECN (Electronic Communication Network) brokers that function like an exchange with large banks and brokers suppling large volumes of buy and sell orders with tight spreads about 0.1 to 1.0 pips and connecting retail clients to wholesale order flow and only charging a commission. The best commission I have seen so far on a standard lot ($100.000) on EUR/USD pair is $8 for a round trip, that is pretty god, you only need one pip profit to go break even and make $2 in profit, not as good as ES, but a little better than Nasdaq-100 E-mini (NQ) and DOW Jones E-mini (YM) were on tick is $5 and a round trip cost about $4.00 to $4.50 for a round trip per contract.

I could live with a one pip spread, max 2 pip, but commission seems better. I am also impressed with MT4 software that has become a standard in the Forex broker industry offered by nearly every Forex broker, great for users that can transfer to a new broker without having to learn a new trading software and it is free and real time data is also free and no exchange fees, that is very good, it is also a very good software with charts and execution in the same software.

I am going to go through your listed ECN brokers and see if I can find a safe Swiss ECN Forex broker with low commission max $10 per round trip, if not Switzerland I am not sure which country to chose with strong privacy laws and no taxes on Forex profits, any ideas?

Very good site, filling a real need in this jungle with plenty of Forex brokers with unknown performance and safety. Great job and thanks a lot.

great site...good info...but i still have a question gor live traders out there...Ive been demo trading 5 months now...yea want to be sure whwn i go live..i restart new accounts every month to see..500$ account to 3900 in 14 days...and a 5000$ to 16200$ in 20 days...doing well i was told...i use a couple of indicators..So my question to experienced traders..there are so many brokers out there..can you tell me the broker you are using..spreads...and if you withdrawn $$ did you have problems..you see i konw ill make money but hear so much about brokers stealing your funds...when you are too succesfull..i find that odd...why ..there making money everytime i put in a trade.. i intend to start a 500$ thats why i demod that .Help gurus...peace and good trading....

- GallantFX is a whitelabel guys, calm down
- FXCM MT4 is (powered by boston technologies)
- FIGfx has 1:500 leverage after verification
- Alpari releasing MT5 soon (get the new category ready :})

Hello,

I would like to know broker with Multitrader 4 service.