People ask me what is the
most honest forex ecn broker out there
The answer I give people when they ask what is the most honest forex ecn broker available; I tell them two things.
Firstly, ECN brokers have a vested interest in their clients SUCCESS. If their clients are not trading and making money, then they will not be making any money either.
ECN brokers act as middle men between clients and banking institutions and hence only receive commissions from clients actual trades, unlike MARKET MAKERS whom may profit by taking the opposite side of the clients trade. Market Makers can thereby receive their income from commissions AND ALSO their clients losing positions.
Second, personal experience with brokers;
In building brainyforex review site it is my goal to try a good selection of the most popular forex brokers and report back the results. Also encouraging others to contribute their own feedback with brokers on this site.
From the forex broker list that I recommend traders to test out, so far I have personally used with real money accounts the following brokers with the following results;
I can report that they have met my expectations as a honest forex ecn broker. They always respond promptly to my email questions as well as transferring money into and out of my account very fast. Staff seem very helpful and friendly.
My first forex broker account was Oanda back about ten years ago if I remember rightly? They have a huge reputation as being one of the biggest broker out there. I have always found them great to deal with. No problems at all. Even though they are a market maker I would recommend them as an honest broker.
Other items of interest relating to above brokers
At 11 April 2012 : FinFX has received AAA Rating - the highest creditworthiness!
FinFX has been rated AAA, the highest creditworthiness by Soliditet! The AAA rating is only given to a limited number of companies that have extremely strong capacity to meet their financial commitments. FinFX with its AAA rating has an exceptional degree of creditworthiness and can easily meet its financial commitments!
*The rating has been assigned by the external credit and business information provider Soliditet, which is the leading credit report company in the Nordic region. Soliditet’s credit assessment system is based on a series of decision rules. The result is recorded in the form of a credit rating, from AAA to C.
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