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Thread: Looking for a FX broker that's honest about the costs involved

      
  1. #1
    jgombos
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    Default Looking for a FX broker that's honest about the costs involved

    There seems to be a scam going on with most forex brokers, where they don't disclose the fees for wires charged by the banks that they partner with. Many will go further, and falsely claim there are no transfer fees, when in fact the bank they've hired skims money from wires going in and out of the accounts. This even happens in Europe (SEPA in fact), where clients have a widespread misconception that eurozone wires are always free.

    Has anyone discovered an honest broker that is completely forthcoming about wire transfer fees?

  2. #2
    Pips Are My Game Paprika's Avatar
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    Forex.com is pretty honest and upfront with their fees, even though everyone calls them a bucketshop.

  3. #3
    Pips Is My Game
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    Acm is the most hones broker! They explain everything about the way they work and every charge you might get whatever it might be.
    Ps: they will be a bank them self soon, so there wont be any third parties there

  4. #4
    Forex Broker Reviews VanForex's Avatar
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    I think there are lots who are honest
    with that I think... I know there are....
    http://www.forexbrokerguide.com

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    my broker is also acm itís true its very honest about costs involved, no surprises with them. I think most brokers are, but in any case you can just ask what are the partners banks and speak directly with them about the withdraw fees

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    Pips Are My Game lhar_ff's Avatar
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    Quote Originally Posted by VanForex View Post
    I think there are lots who are honest
    with that I think... I know there are....
    I agree with you, there are lot of brokers that are honest. Have you tried fxcm? I read some of the traders here that they are a good broker too. =)

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    Administrator Mike's Avatar
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    You have to do some research on that, find discussions about Forex brokers being honest or not, because one broker that is good to me or others, may be someone else's money trap.

  8. #8
    My Pips Are Growing
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    alpari looks good, you might want to give a go with them

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    Pips Are My Game lhar_ff's Avatar
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    Quote Originally Posted by jgombos View Post
    There seems to be a scam going on with most forex brokers, where they don't disclose the fees for wires charged by the banks that they partner with. Many will go further, and falsely claim there are no transfer fees, when in fact the bank they've hired skims money from wires going in and out of the accounts. This even happens in Europe (SEPA in fact), where clients have a widespread misconception that eurozone wires are always free.

    Has anyone discovered an honest broker that is completely forthcoming about wire transfer fees?
    I think Mike is right, you have to make research first.

  10. #10
    Forex Warrior
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    Go to the page danaexhange and you will see that this brokers are honest and you can trust them

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    Administrator BigE's Avatar
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    Quote Originally Posted by Mayra View Post
    Go to the page danaexhange and you will see that this brokers are honest and you can trust them
    Here? http://www.danaexchange.com/site_map.php
    www.eandestudios.com
    Web Design, Online Marketing, Photography, Videography

    www.23hourwebhosting.com
    web hosting

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    Hindsight Hero! DickP's Avatar
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    I doubt you'll find a truly honest broker out there, they are all designed to horde money into one big account and will do better if you lose. So be careful about which broker you end up choosing, it could make a break you before you even begin to trade.



    "I came to make pips and chew bubble gum...damn, I'm all out of gum..."
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  13. #13
    Forex Warrior
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    Yes, to that site. Dana will definitely have no interest in breaking people, the persons who work there are people who gain their money by commission, meaning that if they make people open live accounts and start trading they will be gaining the money. So, if they have more people trading they will be earning money, and if they rip off people what would be their benefit?
    So, in my opinion, they are honest IBs!

  14. #14
    Pips Are My Game ★FX★'s Avatar
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    Default Re: Looking for a FX broker that's honest about the costs involved

    You will definitely have a hard time finding a completely transparent broker, the nature of the regulations they adhere by are completely in favor of the broker, even with this reduction of leverage, they still have a lot of power over us, including the fate of our deposits.

  15. #15
    Pippier Than Thou! adam2011's Avatar
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    Default Re: Looking for a FX broker that's honest about the costs involved

    Try Wall Street Brokers www.wsbrokers.com .. No no commissions , no hidden fees .. they're honest really about what they say .. I dealed with them pretty good.

  16. #16
    Pips Are My Game FxFreedom's Avatar
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    Default Re: Looking for a FX broker that's honest about the costs involved

    Quote Originally Posted by adam2011 View Post
    Try Wall Street Brokers www.wsbrokers.com .. No no commissions , no hidden fees .. they're honest really about what they say .. I dealed with them pretty good.
    Really? I'd give thema try if I wasn't committed to FXDD right now, tell me, what you think of each compared side by side...

  17. #17
    Pippier Than Thou! adam2011's Avatar
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    Default Re: Looking for a FX broker that's honest about the costs involved

    Quote Originally Posted by FxFreedom View Post
    Really? I'd give thema try if I wasn't committed to FXDD right now, tell me, what you think of each compared side by side...
    I'll honestly talk with u.
    I never dealed with another broker else Wall Street Brokers, so I don't know what are FXDD's advantages.
    But I can tell you why I never seek another broker else Wall Street Brokers.
    They offer tight spreads : 2pips spread, they'll be 3 pips spread if you're using an IB, they offer variety of products, hedging capability, low margin requirements, no swap or hidden fees, a cool platform ( MT4 ), no dealing desk, multi-lingual support , partnership programs and client ships.
    That's why I never seek another broker, I really made a lot of profits .. from time to time they give u some bonus on your account.
    I hope that helped man.
    Cheers.

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