Forex.com/UK account up, others will follow
I’ve finally opened and funded an account at Forex.com/UK, I will trade it parallel with my Alpari UK account as before. I will start out with just MegaDroid on it, but will get another license for GridBot eventually (when they release the hedging function). Forex.com/UK has somewhat higher spreads at EURUSD than Alpari UK (2-3 vs fixed 1.8), but Alpari UK is going to start offering floating spreads soon (perhaps July). I think this will mean higher spreads for EURUSD, but perhaps lower for GBPJPY, AUDNZD and the likes that now have quite high fixed spreads. Forex.com/UK is offering better spreads almost all the time in GridBots main pairs.
It is still my strategy to have 3-4 live accounts running at the same time, as a way to hopefully diversify enough to eliminate broker manipulation. I am currently running demo at FXCM/UK (I have applied for a live account there also, but haven’t funded it yet). FXCM/UK offers floating spreads with 5 decimals, but for some reason I don’t get my EAs (FAPT, MD and GD) to trade very well there (on the demo). Don’t know why. The spreads are low during the day, but about the same as Forex.com/UK during the Asian session.
I have a demo at MB Trading that is doing great with FAP Turbo (even in GBPCHF) but they’re still in Beta and isn’t accepting new live customers right now. They take commission, but the spreads are amazing.
I am also looking at FxOpen and FXDD, will start demos there soon. I think that FxOpen is more like Forex.com/UK and FXDD more like Alpari UK. Of course I wouldn’t open accounts without the cashback offered by cashbackforex.com, that’s like throwing money away.
On the FAPT Swiss side I’ve found a new website offering 33.33% rebate on commissions, but it isn’t as well known as cashbackforex.com so I don’t know if I’ll sign there yet. Cashbackforex is huge and old in the game, the chance they close down and stop paying you is minimal. The new site there’s no telling with of course. So I still recommend to sign with the 30% cashback. But sure, 11% more in the pocket is real money…
