Forex Is Why I’m Broke - Brokers Comparison
We are not rating brokers. You do! To be precise, you’re not rating the brokers; you’re actually rating our reviews. It’s pretty simple; Sooner or later, most traders lose some and win some, and complaints are very quick to arrive. We see complaints everywhere, even against those Huge corporate companies like Apple or Microsoft. People tend to complain when they’re not happy with something, Now when you get to Forex – Complaints go wild. We’re not saying those complaints are not true or groundless; on the contrary! We’ve collected and examined complaints from all over the web, and have drawn objective conclusions.
As much as we find the brokers featured below honest and trusted, we’re also positive that they don’t fit everyone. We recommend you to check our review and decide for yourself if this particular broker suits your demands, trading style, budget or other factors! Remember we said we don’t rate brokers? Well the ratings (Hearts and Life wheels) below will tell you how good and helpful our review was, based on… Your ratings!
|Broker's Name||Minimum Deposit||Type of Broker||Maximum Leverage||Regulating Authority||Rating||More Info|
|500:1||CySEC, ASIC, MiFID, FCA||
|$100||no dealing desk, market maker||1:300||FCA, ASIC, CySec||
|$50||Market Maker||400:1||NFA, CySEC, ASIC, CFTC, MiFID, FCA||
Using Words Instead of Numbers
Rating brokers using numbers is overrated. The thing is that each trader has to choose a broker that fits their style and that’s why a number rating just won’t cut it. It’s not enough. And so, we’ve introduced a rating based on words. We will write about the particularities of each broker we review and will let you choose what’s best for you. We don’t really compare brokers between them, we don’t assign them numbers and instead we talk about them, about the good things, about the ones you have to avoid and how to avoid them. A broker is not bad if it doesn’t allow scalping or if the leverage doesn’t go sky high so we don’t think we should deduct points for that. Instead, we will tell you about it and you will decide if you are going to trade with them or not.
“I’ve Been Robbed” Stories – Start Reading the T&C
Nowadays there are very few brokers that can be considered full blown scam artists because the industry is pretty well regulated and has strict rules so when you hear “I’ve been robbed” stories on forums, most of them come from people who don’t read the Terms and Conditions and then do something that’s not allowed by the brokerage. You can’t walk into a McDonald’s and ask for a pizza and you can’t walk into a Pizza Hut and ask for a Happy Meal menu. That doesn’t mean either of them is bad, just that you are in the wrong place. About 97% of all “I’ve been robbed” storied could have been easily avoided if people would just find a broker that fits them… and if they would read the rules properly. So, go through our reviews, and choose the broker that suits your skills. Or at least, learn to avoid issues that could get you broke with your current broker.
Choose the Forex Broker that Suits YOUR Style
Let’s say a broker’s overall rating is 9.5 out of 10 – top tier broker, excellent execution, great user comments and reviews, regulated by almost every possible regulatory body out there – the whole package. But you are a pure scalper, and you wouldn’t trade differently (after all, why would you). So if this brokerage doesn’t allow scalping that means you cannot trade with them. For you, this broker might as well have a 0 out of 10 rating because you are unable to make profits. Well, your go-to trading style is not allowed, so why bothering.
Stop with the Rating & Ranking – its Old School
Remember the saying “You can please some of the people all of the time, you can please all of the people some of the time, but you can’t please all of the people all of the time”? Well, I think it applies perfectly to this situation. It’s very hard for a Forex brokerage or any other company to satisfy all customers. Maybe I don’t drink Coca Cola because I don’t like the bubbles, they upset my stomach. Does that mean that Coca Cola should have a 0 rating? Not really.
Feel Free to Talk About It!
Feeling like you’ve been scammed? Unsure about the broker you’ve chosen? Or maybe we’ve missed something in our reviews? Keep it to yourself. NO kidding, just kidding lol. Our door is always open, and even if it’s only virtual, we’ll do our best to make your reality better. Feel free to comment at the bottom of this page or drop us an email. Make sure you pick the right words, after all, it’s not a numbers game.