Broker Reviews

In my effort to save myself money and also to save anyone who happens to be reading my blog money i've decided to review the brokers im using and have used. 

FOREX

1. FOREXBROKERINC- I'm currently in the process of testing this broker. I chose to use this broker because they accept u.s. clients and they also offer a wide range of futures instruments, including Corn, Wheat, Crude Oil, Natural Gas, Gold, Silver, DOW, S&P, NSDQ and even Sugar and Coffee to name a few. Ill evaluate their fills and if there is any broker manipulation once I get thru my initial testing period. CLICK HERE TO GET FOREX BROKERS INC DEMO ACCOUNT

2. FXCHOICE.COM- Im having a great experience with this company. It only took 1 day for my wire transfer to go thru and customer service has been great. I've asked more random questions than I'm sure most of you ever will and they were knowledgeable and quick to respond. I personally used their online chat for my support and got instant help when needed. Their minimum deposit is only $100 and the lowest lot size you can trade is .01 so this is perfect for testing new systems or strategies. You can see my video review by CLICKING HERE or you can get your free demo account now by CLICKING HERE .

3. HOTFOREX.COM- They started out great. I was able to turn my original $200 into close to $1000 with them. The problem is once I started winning big they started freezing my platform and giving me lots of requotes. In the end I couldnt make it work so I shut the account down. If  your new they might give you good fills until they notice your making too much money, then they'll make sure you stop.

4. VARCHEVBROKERS.COM- This broker was great on demo but once I started trading live I began getting 30 to 40 second delays before it would enter me, which means i assumed that I wasnt triggered because nothing happened and im most likely managing my other broker account then out of no where 30 seconds later at the tip top of the spike I see i've been filled. This has happened twice now, I've tested it during regular trading hours and there is no delay which leads me to believe that they knowingly hold back trades during news time. I'd say to stay away if your a news trader.

5. SMARTTRADEFX.COM- This broker actually worked very well for 4 months with news trading. I was able to get decent fills and there was no sign of broker manipulation. Then like all forex brokers they began widening spreads at news time so I had to stop trading news with them. I had a great overall experience with this broker, customer support was exceptional and my fills were great. They also offer gold, silver, oil and some stock indices. Even still I cant recommend this broker for news trading. I do have an account with them today and continue to use their service for regular trading.

FUTURES

1. INFINITYFUTURES.COM- My futures adventure has begun. I have tested infinity live at this point and while my experience was ok I personally know of another trader that had a terrible experience. The reason I left is because of the type of problems he was having. Massive delays in execution at news time, partial filling, Stops taking an extended amount of time to be entered which means he was trading naked, and the biggest issue I had was the following letter they sent him: 
"Dear ********,

Although I disagree with you about the Transact connectivity speed and reliability I understand your frustration.

It is apparent that we cannot satisfy your needs and the Infinity AT trading platform is not for you based on your infrastructure set up.

Therefore we are closing your trading account in 5 business days on March 20th at 4:00 pm cst.  Please make the necessary arrangements.

Sincerely

Vito A. Chieco"

Yes you read that right, they decided to close his account because he found several issues with their system. I know of several other news traders who are having similar issues. For news trading I cannot recommend this broker.

2. GLOBALFUTURES.COM - Finally my 3 month testing period has ended and I can now provide an accurate review of Global. To start off with i'd like to say I had a great experience with this company.
Margins: Global has some of the best margins i've seen. S&P emini margin is only $400 and in fact none of the margins for emini's are above $500. The Australian Dollar (6A) is only $500 and so is Natural Gas and Japanese Yen. They even  have a program that offers $300 emini margins tho I didnt go for it.

Opening Account: It took me about 2 days to open an account with global. They told me I was approved to open an account the day I submitted my application and I had funding instructions which I used the next day. I chose to wire my funds in and my account was funded the same day. The application was similar to any other companies and wasn't any longer or shorter.

Customer Support: Once you visit the global website you'll notice the online chat link. I love companies that offer this service. I prefer to chat than call for convenience and getting questions answered is very easy. There is also a phone number at the very top of the page, and yes they do offer 24 hour customer support so there's no reason you wont be able to get your questions answered. Lastly email support is also good, I usually get a response same day, often within an hour. I've asked plenty of random questions and they always try to find the answer for me.

Withdrawals: I personally have only withdrawn by having a check mailed, which took 5 days to arrive from the day I submitted for the withdrawal. I chose not to use wire transfer mainly because I didn't wish to pay the fee and also because I don't mind waiting.

Final recommendation: Well I hope this bit of info was informative to someone. The last thing I can say is I would HIGHLY recommend this company to anyone especially spike traders. They have great customer support, great margins and I get great fills. What more could a trader ask for. The link below is for a demo account so you can test things for yourself. Good luck.
 http://www.globalfutures.com/platforms/platform-demo.asp?platform=ninjatrader&df=nt_cqg&refid=TRLL&broker=45  

3. PROGRESSIVETRADINGGROUP.COM-  Ive been planning this review for some time now and I finally have enough information to do it properly. One thing I didnt mention in the video is that progressive also offers forex accounts thru mt4 and also ninja trader so if your interested in forex that will be a plus for you.

Margins: Progressive has the lowest margins I've seen of any broker and I have checked with several. Some of the highlights are Corn-$283, 30 Year bonds- $454, Emini s & p- $525, Emini nasdaq- $300 etc. You'll be able to view the complete margin list in the video review but this gives you an idea of what im talking about.

 Customer Support: I have to say progressive really does customer service the right way. I generally get a reply to my emails in 5 minutes or less. Peter is the primary at progressive and I usually ask my questions to him directly. You can also contact him at peter@progressivetg.com and he's proven himself very knowledgeable and helpful. There is also the option to simply call in to have your questions answered immediately, 1-888-240-7099 is their number. Phone support is available from 6:30am pst- 3:00pm pst. Lastly they have online chat support which is the method I use 90% of the time and can be found directly on the top right hand corner of their homepage.

 Withdrawals: So far i've only done 1 withdrawal and as usual it was thru check. They also offer wire transfers for a $30 fee, the good thing about wire transfers is its faster than having a check sent. I simply don't mind waiting to save a few bucks.  Also if you submit for a withdrawal before 2pm eastern your withdrawal request will be completed same day. This is great as I dont like waiting 3 or more days for a company to process my withdrawals.

 Opening Account: It only took 2 days to get my account opened with progressive. The first day to complete the application and get approved and the second day to wire in my money. The minimum to open an account with progressive is $2500 and I recommend you use Dorman as your clearing firm as you will get the margins I mentioned above and your data provider will be Rithmic.

 Final Review: Based on my experience with progressive I can honestly say they have been wonderful to me and I highly recommend them to anyone interested in trading the futures market, News traders specifically as I get good fills and my stops and take profits are filled faster than any other broker i've tested. Their great customer support and super low margins are an added bonus that im sure any trader will appreciate. I hope you enjoyed this review of progressive trading group. Click below to get your free demo account. For my full review of Progressive CLICK HERE

CLICK HERE FOR FREE PROGRESSIVE DEMO ACCOUNT

BINARY OPTIONS

1. NADEX- Nadex only accepts u.s. citizens at this time and they require a $100 Deposit to get started, you can request a 2 week demo which is good for practice and once you open a live account and take a trade they will also extend your demo for as long as you want. The platform takes some time to get used to and can be complicated but there are several videos online that will walk you thru placing trades. To get your 2 week Nadex trial CLICK HERE.

2. RBOPTIONS- Rboptions accepts u.s. citizens and non u.s. citizens alike. Its free to register and Their minimum deposit is $500, with your deposit you'll get a lifetime demo account. In fact They are the only traditional binary options broker i've found that still offers lifetime demo accounts. To get one all you have to do is fund your live account and you can practice all you want which will give you time to test out your trading system before risking real money. To get more information on RBOptions or to get registered for your demo CLICK HERE.

3. STOCKPAIR- Stockpair does not accept u.s. citizens but other countries are welcome. As usual its free to register and their minimum deposit is only $200 tho sadly they don't offer a demo. I've gone thru lots of reviews and their one of the highest rated binary brokers I've come across. I've also talked to several traders who are happy with them. To get more information about StockPair or to register CLICK HERE.

4. TRADERUSH- Traderush does not accept u.s. citizens but other countries are welcome. Its is free to get registered and minimum deposit is $200. They will offer a demo account with a deposit of $500 or more.  To get more information on TradeRush or to get registered  CLICK HERE .