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Forex System Reviews
Forex System Reviews
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I was so impressed with the site that I was convinced I would be disappointed when reviewing their service. However, that was not the case. They offer all the basic and common services offered by many other Forex brokers, but BTrader definitely includes services that separates them from the pack in a major way, but we will talk more about that later.
When it comes to depositing money, there is no reason Forex brokers should not make this process easy for the trader, unless of course they do not want your money. Well, BTrader enables you to deposit money in every possible way, including some options most people have never even heard of. The options available to you are bank wire, credit card, direct ebanking, money bookers, and much more.
While most brokers make the deposit process relatively easy seeing as they want your money, it is not a rare occurrence for brokers to make the withdrawal process a painful one. With BTrader, you send one fax and you have your money after 3-4 business days, it is as simple as that.
Regarding the core issue at hand, the Forex trading, BTrader did well here too. While most brokers offer a downloadable trading platform, and some offer a Web-based interface, BTrader offers both in the form of the famous Meta Trader 4 platform with access to advanced charts and technical indicators. In addition, they offer their own creation, a platform called WebFX. The fact that BTrader created their own web-based platform is an indication that they really do strive to be a top Forex broker, and not just another one to add to the long list.
BTrader supports Forex trading of over 50 different pairs, with the typical spread of the majors being 3 pips. Their spreads are also fixed and not dependent on anything. As I mentioned earlier, they do not disappoint when it comes to the market standards, and they offer a free $15,000 demo account, as well as low deposit ration of $25 for WebFX and $100 for MetaTrader 4. Another aspect in which BTrader stands out is their leverage. It is not the highest you have ever encountered, but 200:1 is definitely below the average confirming that BTrader is truly interested in customers not losing their entire investment in 30 seconds.
At this point of the review, I figured there has to be a catch. They must charge high commission or some sort of hidden fees. So when it became apparent that BTrader charges no commission or fees of any kind, not on deposit, not on withdrawal, and not during trading, I kept looking for that catch.
BTrader offers 24/6 support via phone, email, or live chat, and they proved to be highly responsive, patient, and helpful. Contrary to many other brokers, BTrader does not focus solely on getting your money, they spend a lot of resources on educating traders as well. They offer an entire platform of educational courses, as well as live training. In addition, BTrader offers daily market analysis, an economic calendar, and what they refer to as a Live Dealing Room. This is for all intents and purposes a forum-like experience in which you can ask questions and offer solutions, while communicating with other Forex experts and traders.
All in all, BTrader seems like a very impressive broker, the only thing that might turn off a trader is their lack of FSA regulation, but from what I was told by their support, they are currently in the last stages of the process. One other negative aspect I encountered was some small glitches in their site which does not seem to be compatible with all browsers.
BTrader declares that they offer their customers the best service, and based on my thorough review of BTrader, that is an accurate description of their service as a whole.
Forex System Reviews
2. Finexo Forex
Finexo...
About Finexo:
Finexo, a business partner of Saxo bank, is an online foreign currency trading firm founded in 2003 by financial experts with years of experience in the Forex market.
It earned its outstanding reputation by offering traders its advanced but user-friendly trading platform, suited for both beginners and experienced users. This platform was created in conjunction with Finexo's belief that the Forex market is for all traders who wish to profit from it.
Finexo supports its traders by providing them with all the necessary tools to improve their trading skills including trading signals and market updates on a daily basis as well as giving them access to various sources of information.
The ForexTrader platform is synchronized with the largest banks and exchanges worldwide, thus allowing the trader to follow their portfolio's progress in real-time, 24 hours a day, either via the internet, cellular phone or Finexo's dealing room. The various secured deposit and withdrawal methods increase account-management options significantly and drastically reduce liquidity concerns.
Originality and excellence are Finexo's hallmarks, with an emphasis on innovative ideas to maintain and enhance its role as a market leader.
Our Review:
As a former financial services professional, I am highly impressed with the level of dedication and service that Finexo.com provides their customers. It is not enough that their trading platform has been rated the best for three years running, don’t get me wrong, I would not have given them a second glance had that not been the case. The thing that grabbed me though was the attention my inquiry into their services received.
As someone who spent years pitching people to buy stocks from me instead of the next guy, the last thing I was looking for was a sales pitch. I know it is annoying, I did it for years – and I was not in the mood for pre-written one liners or insincere banter from a guy just looking to make a commission. Anyway, my first experience with Finexo was a dream – after registering for more info at their site I got a call from a nice guy named Joey who did not want to sell me anything – he asked me if I had any questions about the service – he offered to hook me up with a demo account so that I could test their platform under real-time market activity.
And here is the key – he listened to me, he addressed my questions and concerns and when he did not know the answer, he told me that he was unsure. I respect that more than anything, because the first thing you are taught in financial sales – if you don’t know the answer, act is if you do. BTW - Joey from Finexo got back to me the next day with answers to questions he did not have the previous day. And what shocked me even more, he did not try to sell me on that call either, he really just called to give me the answers to my questions – no up-sell, no pressure – I guess all he gave me was informed guidance.
So based on my first live contact with Finexo, I opened an account. That was three months ago – since then, I had some success at trading the Forex and some failures as well – I am still learning the market as it is unlike the stock market that I am used to. And I have to say I am extremely pleased with Finexo. Once every few weeks I get a call to find out how I am doing, ask if I have any questions and this is what does it for me, ask me if I have any comments on how they can improve their service or their system.
Their system is top notched – easier than anything else that I have tried and extremely user friendly. I have never had a problem with hiccups in the system and never had my service interrupted for any reason (as happened to me twice on the FXCM’s demo version – you would think a demo is supposed to really wow a guy into becoming a customer). I get regular market updates that are clear and concise and I just joined their SMS alert service (which is free) so I don’t have to sit at my desk and watch the green and red lights all day long.
Finexo is a top notch service and if anyone asks me, I highly recommend using them if you are interested in Forex trading.
Forex System Reviews
3. ForexWeb Trader V4
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ForexWebTrader boasts one the most award winning trading platforms in the Forex industry, a wide variety of deposit methods and an always live customer service department. Some of the things that separate ForexWebTrader from the rest are:
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ForexWebTrader offers a multiple award winning trading platform. This web-based platform allows customers to start trading immediately and because there is no download, a user can trade from any computer using their secure login name and password. The flexibility that this offers is vital when trading as you can close open positions and capitalize on braking market news wherever you are.
Many Forex brokerages will offer amazing spreads and margin rates to bring you into their company, however when you start trading you realize that there are fees that you need to pay. ForexWebTrader has no hidden fees or costs. What you see is truly what you get.
Simply put – you get a great platform and great, competitive rates. With ForexWebtrader, there is no Flash – there is no hype – there is simply a great way to trade and make money.
How to rate this broker?
Customer service: FWT’s customer service is terrific, they are there during trading hours and have are very helpful and knowledgeable. The online chat is a great service for quick answers to problems.
Integrity: FWT delivers what they promise. An award winning platform with excellent features. IF you know what you are looking for; if you understand the Forex and how it works, ForexWebTrader is the right place for you. No pushy sales people, just one of the best places to make your trades.
Trading Execution: Trades are executed on the spot. With many platforms, by the time the system processes the order the currency has moved enough to affect the price and quantity. ForexWebTrader is fast and accurate. This is why it is rated the best.
Platform Features: Chart trading, graphs, news,
Spreads:
| Currency Crosses | Target Spread (PIPs) | Currency Crosses | Target Spread (PIPs) | Currency Crosses | Target Spread (PIPs) |
| AUDCAD | 15 | EURGBP | 3 | NOKJPY | 10 |
| AUDCHF | 10 | EURJPY | 4 | NOKSEK | 8 |
| AUDEUR | 7 | EURNOK | 45 | NZDAUD | 12 |
| AUDGBP | 5 | EURNZD | 20 | NZDCAD | 15 |
| AUDJPY | 8 | EURSEK | 50 | NZDCHF | 10 |
| AUDNZD | 15 | EURUSD | 2 | NZDEUR | 9 |
| AUDUSD | 4 | GBPAUD | 15 | NZDGBP | 5 |
| CADCHF | 8 | GBPCAD | 10 | NZDJPY | 8 |
| CADJPY | 6 | GBPCHF | 7 | NZDSEK | 90 |
| CHFAUD | 10 | GBPDKK | 75 | NZDUSD | 5 |
| CHFDKK | 30 | GBPEUR | 9 | SEKDKK | 7 |
| CHFJPY | 6 | GBPJPY | 9 | SEKJPY | 10 |
| CHFNOK | 50 | GBPNOK | 100 | SEKNOK | 8 |
| CHFSEK | 50 | GBPNZD | 35 | USDCAD | 5 |
| DKKJPY | 10 | GBPSEK | 100 | USDCHF | 3 |
| EURAUD | 14 | GBPUSD | 4 | USDDKK | 35 |
| EURCAD | 12 | JPYDKK | 5 | USDJPY | 3 |
| EURCHF | 3 | JPYNOK | 5 | USDNOK | 50 |
| EURDKK | 5 | NOKDKK | 7 | USDSEK | 50 |