Forex Blog

Easy-Forex introduced today its new trading platform — Visual Trading Platform. It’s still a browser-based (JavaScript/AJAX) application, but with an improved user interface and an extremely fast performance. It easily integrates trading, charting, news and alerts into one browser window. The abilities to calculate risk, position size and to freeze the currency rates before the order execution are built into this new platform. A simple demonstration of Visual Trading Platform now resides on the main page of Easy-Forex broker.

InstaForex is a new MetaTrader 4 broker that was added to the list of Forex brokers on my site today. It offers a very big list of methods for funds transferring (including such convenient and popular methods as PayPal and WebMoney). They also have several trading account types by the currency of the account — USD, EUR, CHF, GOLD and RUR. VIP conditions or Islamic (with no overnight interest) accounts are available by request. The spread on EUR/USD currency pair is 3 pips and the minimum trading account size is $10. In my opinion, InstaForex can be an interesting alternative to other MetaTrader brokers that are available on this market in an abundance.

While NFA makes its requirements more strict for the Forex brokers operating in U.S. and the senate tries to enforce the regulation with CFTC, more and more brokers choose Switzerland as their primary location. Swiss regulation is reliable and authoritative, but now it remains more liberal than in U.S. Exto Capital is a Forex broker based in Switzerland (operated by Exto Financials). They offer downloadable and browser-based trading platforms, 2 pip spreads and high quality conditions for VIP (high volume) traders. Exto Capital offers mini-Forex accounts, but the minimum account size, even for mini, is $5,000.

One Financial is quite a new Forex broker, that is actually specializing on CFD and other futures trading, but offers Forex trading services too. They offer Muslim-friendly accounts (with no interest or swap) and Arabic support — so, it’s quite clear that they are aimed on the traders from Middle East. Their trading conditions are quite common — 3 pips spreads on EUR/USD, $1000 minimum positions, wire and credit card deposits and a custom platform that can be ran in browser. One Financial claim that they are registered and regulated by FSA (United Kingdom), but I’ve failed to find any mention about One Financial on FSA site. I can also note that their support isn’t very professional — it took me a lot of time to find out that they offer mini-Forex services.

Update: Actually they are registered as CB Financial Services at FSA and their registration number is 466201. Just some confusion with company name versus the broker name.

Today I’ve added a new Forex broker to the list on the site — TradeView Forex — another broker that is operated by the financial company Rosenthal Collins Group, LLC (first broker from this company, which hit my list, was RCG fxtrader). TradeView Forex offers MetaTrader 4 platform without CFD trading, limited demo accounts (30-day limit) and rather tight spreads (from 2 pips). For me, it doesn’t look like a great broker, because it requires a lot of paper work to open an account, doesn’t support convenient ways of account funding and offers quite a limited amount of trading instruments. But for some traders it might seem to be an interesting Forex broker, because it’s registered with NFA and offers good scalping opportunities.

MasterForex existed on-line since 2006, but being very similar to other MT4 Forex brokers it has never received such traders’ community attention as their competitors (e.g. LiteForex or FXOpen). As its rivals MasterForex accepts WebMoney, e-gold and wire transfer for deposit/withdraw operations, trading from $1, MT4 platform, CFD trading and a flexible leverage. Unfortunately, like many other MetaTrader brokers it’s not registered with NFA, CFTC or FSA and resides offshore on the Seychelles. But for starting your way in Forex this is still a good broker, because of its trading conditions that are very easy for the newbie traders.

NorthFinance and WestCapFX recently stopped accepting new Forex trader registrations and are now officially redirecting new members to a very new but employing an aggressive marketing strategy Forex broker — FxPro. It looks like the company behind NorthFinance and WestCapFX decided that it would be better to consolidate their business and offer one «universally good» broker rather than two different decisions for two kinds of Forex traders. Personally I think that FxPro is quite interesting broker, but it still looks too new and untested for me, thus I can’t yet recommend it to every other trader. As for NorthFinance and WestCapFX — I had to remove them from my broker list, since they are no longer registering new traders.

I’ve upgraded the Forex broker rating system to make it more cheat-proof and to make it show more relevant rating score for each broker. With previous system I had to deal with hundreds of fraudulent votes (both in favor of some brokers and to lower some brokers’ rating). Current system should be much better than the old one and I hope the rating will be more accurate now. Unfortunately, all previous votes have been lost due to the systems’ incompatibility, so you’ll have a chance to rate your favorite/hated brokers again.

Sorting by name (I don’t know why I haven’t added it before) has been also added to general broker list, so now you can sort it by four different properties.

The same functionality has been added to the Russian language part of the site, which has also received its broker review system.

I’ve added a very new Forex broker to the site today — Forex-Metal. Its website is still very raw and there is not very much information about this broker on the internet. But I thought that it should be listed because it has one rare feature — it supports both MetaTrader 4 platform for trading and PayPal payment system for deposits and withdrawals. It also supports WebMoney and wire transfers for billing and also offers CFD trading (as almost every MT4 broker). Of course, this broker is still very new, it’s not regulated and it has no reputation, but it may be an interesting opportunity to start trading Forex. Anyway I don’t recommend depositing too much funds in Forex-Metal before it becomes more reputable.

An interesting Forex broker reached my attention recently — DeltaStock. It’s a Bulgarian registered brokerage company, which is operating on the on-line Forex market since 2001. DeltaStock also offers CFD, metals, commodities and stocks (only Bulgarian companies) trading. It offers both fixed and variable spreads to choose from and both downloadable and browser trading platforms to trade. I think that this broker would be quite interesting for the Bulgarian Forex traders and those outside Bulgaria who are searching for some good trading conditions.