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(Updated April 10th, 2010)
After my somewhat negative Forex Signals reviews, here is a positive one about a broker I like: FxOpen.
Website: FxOpen
Tried for: 8 months, and still using it.
Minimum deposit: Micro Account: $1, Standard: $25
Payments accepted: Webmoney, Liberty Reserve, Wire Transfer, Alertpay (what I use), PerfectMoney, CashU, C-Gold.
Platform: MetaTrader
Swap? Yes, with the choice of not having swap too.
CFTC/NFA Regulated? No.
Fixed spread? Yes.
Also offer ECN trading.
Ratings
Trading environment:  out of 8 (6/8)
News trading: out of 8 (6/8)
Easy to use: out of 8 (7/8)
Support: out of 8 (7/8)
Overall:  out of 8 (6.5/8)
Review: My experience with FxOpen goes back since July 2009. It was the one of the only broker accepting E-Gold after Marketiva stopped.
Trading with FxOpen is smooth and easy. They offer fixed spreads which is very nice and convenient. News trader will be amazed by how easy it is to trade the news with this platform. If the price moves 50 pips in one second, your order will always be triggered when and where you wanted it to be.
They use the Metatrader platform, which most people like (I do). It is very easy to use and allows you add any kind of indicators you want. They also support using EA.
Deposits and withdrawals are also made very quickly (only tried with E-Gold when they were accepting it at the time) and everything is processed in their “Cabinet” section.
Their support couldn’t be better. They answer their e-mails normally in about 24 to 48 hours, and offer a forum where you can get an ever quicker answer.
The thing that bothers me a bit is that they are not regulated by any association, but it can actually be a good thing.
In overall, the trading conditions and the incredible support offered by FxOpen make them a company of choice, especially for news traders. On the other hand, I wouldn’t feel comfortable putting too much money with them.
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