Forex Broker Comparison Tool
If you are trying to find out which of the forex brokers would best suit your needs, a useful online tool was created online at http://www.brokersmatrix.com.
It’s called BrokersMatrix and it allows you to compare the brokers active on the Forex market. Started on May 3, 2006, it lets you to compare, comment and rate the forex online brokers. You can make comparison on many points, such as leverage, spread, commission, and services; actually there are nearly one hundred points of comparison.
As of June 22, 2006, there are 42 Forex brokers available for comparison on the site.
BrokersMatrix is a very handy tool that you can use if you try to choose your broker according to your specific requirements and your style of trading. Some of the most important comparison criteria used are: minimum deposit, maximum leverage, spreads, number of currency pairs traded, availability and size of mini account, trading platform used, the country where your money is stored, the language spoken by the broker, and many more.
BrokersMatrix site also gives their users a number of options for interaction, such as: comment and rate your broker and view comments about a broker (the website is still in its infancy, therefore there aren’t too many comments and ratings yet). One of the most useful features is the one that allows the user to ask broker(s) to call you back, which can be the first test to assess the quality of the service. The brokers can contact you by email or phone.
A menu called "Regulation" lists the main regulation associations and commissions that regulate the forex trading industry, including CFTC and NFA (NFA’s search tool makes it possible to obtain important regulatory information about the brokers and their executives).
There are some other sources on the Internet that offer similar information, but the BrokersMatrix quietly became the front-runner, describing:
• 42 Forex brokers, including 8 brokers who also allow you to trade Futures,
• 7 brokers with bank secrecy option,
• 8 brokers using the MetaTrader platforms,
• 3 brokers who give you interest on capital
The BrokersMatrix’s advanced search tool provides plenty of useful information about each of the forex companies. For example, with regards to the forex trading platform, the following information is provided:
- name of the trading platform
- whether backtest is allowed
- if automate trading strategies are offered
- if mobile version is made available
- type of Operating System used
- whether Hedging is allowed
- if Sub account is allowed
With regards to forex banking issues, BrokersMatrix gives the following information (Yes/No): transfer to broker via bank wire, transfer to broker via check, transfer to broker via credit card, transfer to broker via Paypal, transfer to broker via e-gold, transfer to broker via e-bullion, interest on capital as well as what are the withdrawal fees and the account currency.
BrokersMatrix also offers brokers platform comparison tool, which currently features 3 platforms:
• MetaTrader 3
• MetaTrader 4
• TradeStation
Finally, the BrokersMatrix provides two more interactive tools – both for prospective traders looking for info on forex brokers and for those already involved in trading currencies; they are the Forum (this may become a very interesting place to visit…) and the newsletter - teasing the potential subscribers with “interesting discount from brokers” (it may be worth trying…).
Kudos to Vincent, the site’s administrator, for creating this website and offering a very useful tool for the forex trading community. There are very few bugs there, the site loads quickly and is easy to use. Very well done, Vincent!
Stan Hill
About the Author
Stan Hill is an online entrepreneur, forex trader, blogger and hockey enthusiast. Stan regularly blogs about forex at http://forex--trading--company.blogspot.com while listening to The Beatles music.
Technorati tags: Forex, Forex Trading, Currency Trading, Forex Trading Company
It’s called BrokersMatrix and it allows you to compare the brokers active on the Forex market. Started on May 3, 2006, it lets you to compare, comment and rate the forex online brokers. You can make comparison on many points, such as leverage, spread, commission, and services; actually there are nearly one hundred points of comparison.
As of June 22, 2006, there are 42 Forex brokers available for comparison on the site.
BrokersMatrix is a very handy tool that you can use if you try to choose your broker according to your specific requirements and your style of trading. Some of the most important comparison criteria used are: minimum deposit, maximum leverage, spreads, number of currency pairs traded, availability and size of mini account, trading platform used, the country where your money is stored, the language spoken by the broker, and many more.
BrokersMatrix site also gives their users a number of options for interaction, such as: comment and rate your broker and view comments about a broker (the website is still in its infancy, therefore there aren’t too many comments and ratings yet). One of the most useful features is the one that allows the user to ask broker(s) to call you back, which can be the first test to assess the quality of the service. The brokers can contact you by email or phone.
A menu called "Regulation" lists the main regulation associations and commissions that regulate the forex trading industry, including CFTC and NFA (NFA’s search tool makes it possible to obtain important regulatory information about the brokers and their executives).
There are some other sources on the Internet that offer similar information, but the BrokersMatrix quietly became the front-runner, describing:
• 42 Forex brokers, including 8 brokers who also allow you to trade Futures,
• 7 brokers with bank secrecy option,
• 8 brokers using the MetaTrader platforms,
• 3 brokers who give you interest on capital
The BrokersMatrix’s advanced search tool provides plenty of useful information about each of the forex companies. For example, with regards to the forex trading platform, the following information is provided:
- name of the trading platform
- whether backtest is allowed
- if automate trading strategies are offered
- if mobile version is made available
- type of Operating System used
- whether Hedging is allowed
- if Sub account is allowed
With regards to forex banking issues, BrokersMatrix gives the following information (Yes/No): transfer to broker via bank wire, transfer to broker via check, transfer to broker via credit card, transfer to broker via Paypal, transfer to broker via e-gold, transfer to broker via e-bullion, interest on capital as well as what are the withdrawal fees and the account currency.
BrokersMatrix also offers brokers platform comparison tool, which currently features 3 platforms:
• MetaTrader 3
• MetaTrader 4
• TradeStation
Finally, the BrokersMatrix provides two more interactive tools – both for prospective traders looking for info on forex brokers and for those already involved in trading currencies; they are the Forum (this may become a very interesting place to visit…) and the newsletter - teasing the potential subscribers with “interesting discount from brokers” (it may be worth trying…).
Kudos to Vincent, the site’s administrator, for creating this website and offering a very useful tool for the forex trading community. There are very few bugs there, the site loads quickly and is easy to use. Very well done, Vincent!
Stan Hill
About the Author
Stan Hill is an online entrepreneur, forex trader, blogger and hockey enthusiast. Stan regularly blogs about forex at http://forex--trading--company.blogspot.com while listening to The Beatles music.
Technorati tags: Forex, Forex Trading, Currency Trading, Forex Trading Company
posted by VPForex at 8:37 PM
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