I’ve uploaded the basic details about FXGreece broker to my site today. I guess it’s the first Greek Forex broker that I’ve seen. There were many from Cyprus, but though culturally related Cyprus isn’t Greece. Is there anything else interesting about this broker? Not much, they are quite average and in some properties — below the average. FXGreece offers web-based, standalone and mobile trading software, but the minimum account size is quite high even for mini — $2,000. Other features of this broker include:
Necessity to send the initial account opening documents via postal mail
Wire transfer as the only mean to upload and withdraw funds
Money Rain Corporation is a Forex broker with a MetaTrader 4 platform that offers quite interesting conditions to its traders. Its description was uploaded to my site today. MRC offers trading mini accounts from $100. The most interesting advantage it has is the interest on the trade balance, which is quite generous. Trading accounts can be kept in several currencies — the yearly interest rate depends on the account’s currency and it’s quite close to the refinancing rate set by the central bank of the given currency. Other highlights of Money Rain broker include:
1-3 pip spread on EUR/USD; depends on the account type.
Deposit funds via WebMoney, wire transfer and credit card.
Trade Forex, CFD, commodities and precious metals.
SwissDealing is a new Forex broker with a unique business model that offers the no-deposit account with a free $100 to trade with. In fact, currently, you can’t deposit anything to your account even if you want to, unless your balance is negative. You are given $100 initial balance, which you can use to trade with 1:100 leverage and any single trade volume (down to 1 currency unit). If you run into a negative balance (which is limited by -$50) you have the opportunity to deposit funds via PayPal to cover it. Any profit you get is freely withdrawable. Other highlights of SwissDealing:
Latest Forex broker that got listed on my site is Alma Forex — a really easy entry-level broker that supports MT4 trading platform and cent accounts. I call it an entry-level broker because even those who believe that Forex isn’t something easily accessible can try it out by spending only several minutes and bucks. That’s a plus for the newbie traders but usually not enough for the serious professional traders. Other highlights of this broker:
Up to 1:500 leverage.
Liberty Reserve, WebMoney and AlertPay e-currency payments.
1 pip spread for trading accounts bigger than $100.
Microtrading from 0.001 standard lot.
Muslim-friendly accounts.
If you have any questions or comments regarding Alma Forex broker, please, feel free to reply below.
Update: I’ve forgotten to mention that they prohibit trading with EAs, thus making their MT4 platform quite useless to many traders.
A new long-lasting promotion campaign was announced by InstaForex broker today. They now offer a brand new Hummer H3 SUV to the random winner of the drawing. Anyone who deposits (or in any other way increases the account balance, e.g. by profiting from trading) at least $1,000 and registers for a participation between June 1st 2009 and May 28th 2010 is eligible to win the prize. There are three types of prizes in total:
Hummer H3 for the random winner
10 PDAs for 10 random winners
Free $100 bonus to every 100th registered participant
The drawing of the random winners is very clear and transparent, so no cheating from InstaForex is possible. At the end of May 28th 2010 at 23:59 system time the last digits of the EUR/USD, GBP/USD, USD/CHF, USD/JPY and USD/CAD currency pairs’ rates will determine the account number of the winning participant, which will receive his or her Hummer. 10 PDAs will be granted to the 5 preceding and 5 following accounts before and after the main winning account.
I added two new Forex broker categories to the site today — Forex brokers with gold trading and Forex brokers with oil trading. Recently I’ve noticed that many traders seek opportunity to trade on something other than plain old currency pairs. Apart from being able to trade currencies they usually also want to have an opportunity to trade oil or gold from time to time when there are some good fundamental conditions for such trades. These two new categories should help traders to find those Forex brokers that fit their oil/gold trading needs, while they will still be able to choose only those brokers that support their favorite payment method and trading platform.
By the way, I failed to find any Forex broker with oil trading that wouldn’t offer gold trading, though it’s not true for vice versa (not all gold trading brokers support oil trading). So, if you see an oil trading broker you can be almost 100% sure that it also has GOLD among its trading symbols. And almost all gold trading brokers feature not only gold but also silver and sometimes platinum, while more advanced brokers offer all possible precious (and sometimes not only precious) metals.
Another Forex broker that offers a technically easier start for the new Forex traders was added to my Forex broker list today — Forex4you. Although they claim to be on-line since 2007 I’ve never heard about this broker until several days ago, but they look worth looking at. It’s a MetaTrader 4 broker with very easy starting conditions. You only need $1 to open a real trading account and you can trade with the volumes as low as 0.0001 of the standard Forex lot. Other Forex4you’s highlights include:
2 pips spread on EUR/USD
Up to 1:500 leverage
Electronic payment systems accepted: WebMoney, Liberty Reserve and e-gold (a rare occurrence)
CFD trading is available
Annual interest rate on account balance — 7%, 8%, 10% or 12.5% depending on the account type
The new Forex broker that was listed on my site today — StartForex — doesn’t offer free demo accounts so it’s name looks kind of strange to me. Perhaps, that’s a temporary issue with them and they will start offering free demos for all traders in the future. Their website also behaves strangely, making the web browsers work extremely laggishly. Other features of StartForex:
$100 minimum account size with up to 1:400 leverage
Both MetaTrader 4 and browser-based trading platforms
Deposit bonus
Unregulated
Islamic accounts for Arab traders
Update: They turned out to be a bucket-shop — they earn only when their traders lose, like in casino.
I added a new broker to the list on the site today — FXM Financial Group. This Metatrader Forex broker is on-line since 2007 and is regulated by the German bank, while itself is based in Costa Rica (a weird mix, in my opinion). Some features of this broker:
Wall Street Brokers is the new on-line Forex brokerage company that was added to the Forex broker list on my site today. It’s a somewhat strange broker that is registered in the United States but isn’t regulated by any institution there. It went on-line in 2008. Other highlights of this broker:
Forex, CFD, gold, silver, oil and futures trading
Credit card, Moneybookers or wire transfer for deposits and withdrawals
Automated trading with signals subscriptions (at a cost of 1 pip per trade)
3 pips spreads
Micro accounts from $10 and 1:500 leverage
Muslim-friendly accounts (actually ALL accounts bear no overnight interest)
