Forex Broker List

I've been using them for several months now trading stock and index options. Good order executions. Never could understand their accounting system. Requested explanation, was promised to get it in writing, never got it. Polite but useless customer survice. Very confusing if you want to trade forex options. I don't even want to consider to trade spot forex with them.

Interactive brokers is a well managed company and professional in their interactions with customers however, be prepared to learn their interface on your own, customer service isn't really helpful in this area they'll just point you to a URL. Make sure to trade a demo account first, it'll take you a while just to figure out their software and a little bit more going back and forth with customer service. Overall a good company.

News trader, Auto-click service. Good fills/good spread 4/2007. Took original monies out end of 4/2007. Requotes and bad fills afterwards. Had to reduce lot size by 300% to get in trades. Currently shopping for anther good broker.

The worst on-line broker. Couldn't even make one single trade after opening an account with them for 6 months. But then you can't transfer on close the account. And you can't e-mail or talk to any of their staff. I am stuck.

One of the cheapest broker around. Would recomend it for those who has commision issues with other brokers.

Their FX Trader platform sucks, very poor order and position tracking and the settings for order routing change on their own so orders sometimes don't get filled! Slippage even in the quietest market and prices often freeze around news. Customer service is polite but useless, they don't even know how to use the FX Trader platform themselves! If you're an intraday FX trader then IB is not the place to be. As they're not an FCM trades are through Gain, nuff said? Can't really call them a scam so it's 1 star, shame there isn't a -1 star option ;)

IB is a genuine brokerage and is not a bucket shop as so many FX brokers are. I have found their executions to be instant and their platform is very good although it needs time in which to get used to it. They are not brilliant when it comes to news trading and you can easily get large slippage if you are trying to enter the market with either stop or market orders. They have an excellent API facility that is well supported for software applications from other members and it is also free. I have previously developed applications to use the API using visual basic. I have no doubt that an application could be developed to take news released data and automatically send a buy or sell trade via the API in milliseconds but I have not looked too far into this as yet. Overall I think IB are good and do not manipulate trades against their customers but they could do with better customer service. I hope this has been of use to others and I wish you all the best in your FX trading.

Terrible customer service. Lots of condescension and sarcasm, and NO SERVICE.

Very good broker for stock trading - five stars. However, Forex trading during news should be avoided with them, spreads widen to 40+ pips and execution slows way down. Haven't ever gotten a good forex fill during a news announcement.

I have had an IB account for several years, trading options lightly. I decided to get into fx trading and started using their simulated trading account before committing real money to the market. If the simulated trading works like their real trading, it's terrible. I did several trades, and closed them out, but the program still shows some odd residual amounts in the account - like $1.80 margin used, and small amounts of currencies that cannot be entered through the platform. To handle that, I tried to reset the account to $10,000 several times to restart (specific to simulated trading, of course) and had results ranging from no effect, to having $193,000 in the account. Talking with customer service and tech service had no effect. They had no answers - just that they would "look into it". I would call customer service and get routed to tech services, who would route me back to customer service and be told that tech service would take care of it. When I complained, their attitude was that it was no problem, since it was only a paper trading account. They didn't understand that it undermined confidence in their system. The interface is just too clunky and complicated to work with. They have good spreads on all pairs, and in my experience, fast execution. The fixed 50:1 margin is too limited. For stock and option trading they are very good, with cheap commissions and good executions. I was satisfied with that part of their service. For forex, they have a ways to go before I will trade live with them.