compair

[hank]

Hank

I would like to get feed-back on how the program for fx club would compair with forx made easy

has anyone in fxclub tried this program and how would you rate it to fxclub






also how would fxclub rate to fxdd or fxcm brokers.

[CharlieM]

You can find some reviews here (http://www.forexbastards.com/public/forex_broker_reviews).

[SamiFX]

You can find some reviews here (http://www.forexbastards.com/public/forex_broker_reviews).

I can't believe there reviews, how can review such big and regulated companies like etrade.com and forex.ch as a SCAM, this is strange

[mayday]

Hank

I would like to get feed-back on how the program for fx club would compair with forx made easy

has anyone in fxclub tried this program and how would you rate it to fxclub

also how would fxclub rate to fxdd or fxcm brokers.

Hank,

Thank you for a good question. Broker services vary from one firm to another and sometimes it may be difficult to see how they are different. It's been a commonplace for newcomers to compare brokers based on their spreads, most of us in the industry understand well that tighter spreads do not mean better trading terms. Partially, it is difficult to figure out the differences between brokers' trading terms because they use different language to explain their platforms ("No dealing Desk," "Instant execution," "Freeze options" and so fourth).

Essentially it all comes down to two models. 1) First model is when a broker gives you a price before you instruct him to execute a trade (there is always a possibility of slippage in this model since broker can always claim that price has moved somewhere - you can actually find complains about such situations all over the internet ). 2) Second model is when you request a price first and then, after broker makes you an offer, instruct him to execute a trade. Usually a broker gives you few seconds to react and if you do not make up your mind you will have to re-request. Of course you can also find many complaints about "freezing," that is when broker does not offer a price right away.

Both models allow brokers to minimize risks during fast moving markets (ex: during non-farm payrolls). While in the first model your trade will not be necessarily executed at a price you wanted, in the second model broker may be slow to give you a quote.

As I have mentioned all brokers use different language, but, in essence it is one of the two models. As far as I know Easy-Forex uses a second model, same as Forex Club. Which system is better is still a topic of debate and brokers engage in relentless PR campaigns spending hundreds of thousands of dollars to convince the public that the model they adhere to is better.

The reason why we adhere to the second model is because we think it is more important to execute trades at prices agreed on by both parties to a transaction.

Trading issue apart, there are many other factors that contribute to good customer experience and, in my opinion, many brokers are neglecting them. How many brokers actually make an effort to teach you ins and outs of Forex trading and their platforms? Almost all of them claim to have "platform tours" or "one-on-one trainings," "FX webinars," but how many of them have actually made an extra effort to help their customers understand what is trading about?

If you go to the link provided by CharlieM and read some reviews you will see that Forex Club is being criticized for complexity of its platforms. Much of this criticism is valid and we are preparing to release probably "the simpliest platform in the world":) very soon. However, consider this: Forex Club has created hours of professional videos to guide its customers through its trading platforms and Forex basics. How many other brokers have done this? How many other brokers offer high quality intro course for free? Just to compare: it will cost you $20 just to get access to FXCM's training course ("Powercourse"), which is in essence just a forum for novices. It will take about $300 to get a training course from FXSol...

Getting back to your question, all brokers want you to trade with THEM. Some are using a strategy when they make it all seem very simple and easy, while others focus on letting customers learn before trading.

Michael
Forex Club

[mayday]

I can't believe there reviews, how can review such big and regulated companies like etrade.com and forex.ch as a SCAM, this is strange

SamiFX,

you have to keep in mind that forexbastards is a commercial project. Few years ago when they were just starting they did propose to Forex Club to "be high in the ratings." This is why you see so many good brokers with low ratings down there. Also, we are aware that Felix and the team are regularly hanging out on forums such as this, so just wait and you could see some reaction to my comment:)

Michael
Forex Club