I'm planning on investing into fapturbo, I've read quite a bit about it and it seems that the very first important step is to choose a good broker.

So, which brokers have 4pip and smaller night spreads for the supported pairs ? I would be happy to find one that has this kind of low spread on at least two pairs. (basically we are looking at EURCHF/EURGBP/USDCAD here). The second criterion should be the minimum deposit: 1000$. I can probably manage up to 2500$ aswell, so if it's a good broker, mention it anyway! It's just that I'm not very keen in the idea of shipping 2500$ to some unknown broker just for testing :P

I already have a live account with Alpari UK, a lot of people seem to like it for FAP but they recently widened their night spreads (like a lot of other brokers) so at the moment it's only possible to trade USDCAD there.

Does anyone have a live account with FXOPEN ? I've heard a lot of bad things about them, but that's mostly based on news trading.

What do you know about some of the better (based on reviews) "high minimum deposit" brokers, for example ikon-royal.com, akforex.com ?

I'd love to hear some suggestions!

Thanks.

I've been reasonably happy with Gallant FX. Check them out. I also use PFG Best and Fastbrokers FX but they're commission based and have higher minimum deposits for their best feeds.

Thanks for the reply Schindawg.

Checked them all out. Mind me asking, how can you be happy with them (trading fapturbo) ?

All the spreads (for FAP pairs) at Fastbroker FX are >=5 (based on the real time quotes from ther webpage)

Gallant FX has 4pip EURGBP spread, others are >5 (based on demo account)

And the same goes for PFG Best, 4pip EURGBP, rest are bigger (based on demo).


I didn't really get a chance to properly test them (weekend started). And as I'm reviewing a lot of brokers I didn't notice if those you mentioned had fixed spreads or not ? Is there a chance of catching good spreads during the night session ?

You probably have a good reason for mentioning these brokers and I'd be really grateful if you'd explane it a bit further.

The key is what price feed you are on, and none of them are fixed spread. For Fastbrokers FX, you need to be on their "Pro" feed, which requires a minimum $10,000 deposit. Spreads for EURGBP are 3-5 on this feed during Fap trading hours. For PFG Best, spreads are even better, 2-4, but you must ask for and be on their "institutional" feed. Minimum deposit is $2000 for that I think. For Gallant FX, you need to ask to be put on their Deutsche Bank feed, which is an ECN-like, variable spread feed. For the most part, EURGBP has been between 1-5 pips during Fap trading hours. You will NOT see these good spreads on any of their demos, which is what you are comparing them with. Hope that helps.

Again, thanks alot That's exactly what I wanted to know.

I'm thinking of gallant FX too, but they are not regulated.. They claim the funds are held by a counter party and all but how has your experience been with them?

I would not sink all my nest egg with them, but I also don't believe they are a scam either. I talked with the Pres. of the firm and asked him about his withdrawal from the NFA. He did this because the counterparty is registered with the SEC and he didn't want two regulatory bodies (both the SEC and the NFA) auditing the company. I can understand this. I feel reasonably comfortable that my money is safe, but of my 3 live accounts, it has the least amount of capital in it. Unlike futures, there is rarely segregation of funds in forex. A bummer, but it's what we have to work with.