Category Archives: Brokers


An innovative review of The CopyTrader feature from eToro

eToro is a Forex trading portal with a global edge that stands out from the crowd. If you are an online forex trader, you remain logged for the better part of the day for your dealings. In addition, you are bombarded with titillating invitations via newsletters from sundry online forex forums and your inbox is choc-a-bloc with such newsletters. However, you don’t know what you are missing if you’re not on eToro’s system.

The trading platform is powered by potential software that allows the trader to easy navigation through any and every aspect of forex trade-be it trading with currency pairs, securities, commodities or indices. Irrespective of wherever you are, the platform gives you immediate and peerless access to the forex markets around the world.

Nevertheless, eToro’s USP is the CopyTrader feature that allows you to imitate and emulate the trading practices of the crème-de-la-crème forex traders. Following in their footsteps allows the relatively new and hence wary trader to assess their investment ends and make optimum profits from their spread. Hence a CopyTrader review becomes imperative.

Since the site went public with its online forex trading framework in 2007, it has been creating waves and since its CopyTrader signature feature got underway, it hasn’t looked back. More than a million online traders are registered with eToro and they regularly trade on this forum after a CopyTrader review and keep referring the site to their friends and relatives. It’s time you hopped onto the bandwagon of traders on eToro.

You can make a large profit as a forex trader with CopyTrader:

If riding is one of your passions, then it goes without saying you will enjoy riding piggyback on the shoulders of experienced forex specialists and speculators who are a class apart. You can easily profit from the global FX markets by going for a CopyTrader review and thereafter, aping these traders, who trade on the premier investment network that is eToro. And getting started is simpler. You need to open an account- that is the first step. Next, you need to discover the best of the best traders. Thereafter, you opt for the one who you think would be your ideal calling card. Thereafter you assess how much you can afford to put on stake. So, you see getting started can’t be simpler.

You need to open an account with a minimum of $100 to copy traders although starting with $200 gives you more advantage and leeway. You’ll have at least 5 expert traders to choose from. The CopyTrader review relieves you from the burden of placing your bets manually. The platform will choose the best traders to trade with for you and you’ll receive email updates. In case you lose your opening balance of $100 by emulating a trader, you’ll receive a full refund. You also get a 25% bonus on your first deposit.

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Visit Intellitraders to know more about Forex copy trading feature introduced by eToro.

Dukascopy Smiles to Programmers, Launches Visual JForex

Dukascopy Bank SA

Swiss forex broker Dukascopy Bank SA has released a unique tool for fans of automated trading – the Visual JForex, which, as its name suggests, allows programming in a more friendly, graphical way. Thanks to Visual JForex, you can now program your own automated trading strategy and use it on one of the most popular retail trading platforms out there – Dukascopy’s JForex.

If you’d like to use this tool, you may want to have look at some of the video tutorials on Dukascopy’s website first – they are pretty informative and you’ll get an idea on what to do in about 20 minutes. Of course, some programming expertise is desirable. The next step is to simply click the “Launch Visual JForex” button and then the working environment opens.

This is indeed excellent news. I have used JForex in the past but never attempted to code EAs for it as I’m not really a programmer, but now given this new visual coding capability I will definitely play around with it and see if I can build me some automated trading strategies.

Let me know what you guys think of this, or join me in a discussion at the Forex Nirvana forum.

About Dukascopy Bank SA

Dukascopy Bank is a Swiss Forex broker operating out of Geneva. It is secure and well-regulated, and offers excellent trading conditions: very tight spreads and fast ECN execution through the SWFX Swiss FX Marketplace technology.

Dukascopy Spreads Reduction

Dukascopy Bank SA

Greetings everyone. I’ve received a news update from one of my recommended brokers and I wanted to share that with you all. The broker I’m referring to is Dukascopy and no doubt some – if not most – of  you have heard about them. The news – and it’s good news – is that they’ve recently reduced their spreads.

Checkout what they say In their newsletter/news update:

Please see the recent evolution of our average EUR/USD spreads during the European trading session:

  • October 2012 – 0.57 pips
  • January 2013 – 0.51 pips
  • February 21st, 2013 – 0.46 pips

A simple calculation suggests that we have achieved a 20% decrease of the EUR/USD spread over the last four months. Our next target is to reach an average level of 0.4 pips for the EUR/USD spread.

–end quote —

Whether or not you decide to trade on their platform is up to you, but it’s good to hear that if you do you’ll get really competitive spreads.

That’s it for now folks.

Happy trading.

Alan out.

Why FXDD sucks for use with Forex MegaDroid

Hmm, well, it seems I have to give up trying to use Forex MegaDroid on FXDD. This broker just plain sucks for use with Forex MegaDroid due to the constant high spread during the Asian trading session (when Forex MegaDroid does its trading). I gave it a fair try and waited a week but I constantly get safe spread limit exceeded errors. Check them out:

2011.12.11 17:53:28 MegaDroid EURUSD,H1: Strategy2: Safe spread limit normalized: spread = 28
2011.12.11 17:53:25 MegaDroid EURUSD,H1: Strategy2: Using DayDirection filter
2011.12.11 17:53:25 MegaDroid EURUSD,H1: Strategy2: Safe spread limit exceeded: spread = 45
2011.12.11 17:53:24 MegaDroid EURUSD,H1: Strategy2: Using DayDirection filter
2011.12.11 17:53:24 MegaDroid EURUSD,H1: Strategy2: Safe spread limit exceeded: spread = 41
2011.12.11 17:53:21 MegaDroid EURUSD,H1: Strategy2: Safe spread limit normalized: spread = 37
2011.12.11 17:53:20 MegaDroid EURUSD,H1: Strategy2: Using DayDirection filter
2011.12.11 17:53:20 MegaDroid EURUSD,H1: Strategy2: Safe spread limit exceeded: spread = 44
2011.12.11 17:53:11 MegaDroid EURUSD,H1: Strategy1: Safe spread limit normalized: spread = 43
2011.12.11 17:53:07 MegaDroid EURUSD,H1: Strategy2: Using DayDirection filter
2011.12.11 17:53:07 MegaDroid EURUSD,H1: Strategy2: Safe spread limit exceeded: spread = 57
2011.12.11 17:53:07 MegaDroid EURUSD,H1: Strategy1: Using DayDirection filter
2011.12.11 17:53:07 MegaDroid EURUSD,H1: Strategy1: Safe spread limit exceeded: spread = 57

So this is a heads up to all of you who are thinking of using this expert advisor on FXDD. I would suggest you look elsewhere for a better broker. I am going to close my FXDD account in a few days and look for another broker. I’m not sure which broker I will choose but I have my eyes on FinFX which has been lauded as a good broker to use with Forex MegaDroid.

I’ll keep you all up to date.


A Big Broker Goes Broke – MF Global Files for Bankruptcy

MFGlobal logo

Hmm, I just found out from the Forex Peace Army forum that MG Global (a very big broker) has just filed for bankruptcy this Monday.  I totally missed this one.

“Chapter 11 bankruptcy is for reorganization. The SIPC (Securities Investor Protection Corp.) is suing to force MFGlobal into liquidation. It looks like liquidation is happening.

MF Global isn’t a small company with a few thousand retail forex traders. It is a worldwide financial firm offering a broad range of trading capabilities. This is the biggest financial firm to go under since Lehman Brothers collapsed in 2008.

There are accusations of debt levels being disguised to make quarterly reports look better. There are lawsuits linking it to Ponzi schemes. There are allegations of money missing from some segregated accounts.

This story is still developing.”

MF Global’s press release for bankruptcy filing

MF Global to be liquidated

Traders accounts may face margin calls

Ponzi victims sue MF Global

Wall Street Journal reports possible hiding of debt levels

Possible insider trading of MF Global Bonds

CNBC’s advice for people who invested with MF Global

FPA Review Page for MFGlobalFx

Huge list of MetaTrader 4 platform download links for various forex brokers

Hi everyone. I had to go out and scour the internet to find the MetaTrader 4 platform download links of various popular MT4 brokers, and I figured since I did all that work why not share the list with my dear blog readers. Please bear in mind that this list of all the brokers that _I_ consider to be the “most popular.” I clearly don’t know ALL of them so if you’re a representative of a brokerage firm and by any chance you’d like your MT4 platform download link to be present in this list just give me a shout or post a comment.

The list follows below: Enjoy!

1: Alpari UK

2: Alpari US

3: ATC Brokers

4: CMS Forex


6: FX Solutions


8: CitiFX Pro

9: GFT Forex

10: InterbankFX


12: Admiral Markets

13: HY Markets


15: MF Global FX Canada

16: Pepperstone

17: GO Markets

18: Vantage FX

19: ACM

20: MIG Bank

21: FX Pro


23: Tadawul FX

24: AVA FX


26: FXOpen

27: BrocoTrader

28: IamFX

29: FinFX

30: Easy Forex

31: AAAFx

32: Oanda

MB Trading Now Accepts Credit Card Funding

mb trading logo

Hi everyone. I’ve got some news to pass on from one of the brokers that I use to trade live – MB Trading. Apparently MB Trading now accepts credit card payments as an available funding option for USD FOREX accounts. They accept Visa, MasterCard and Discover cards. So now it’s a lot more convenient to fund an account – no more wire payments!

For more details you can just visit the MB Trading homepage, but that’s pretty much all there is to it.

Hope you find it useful!


FXCM Now Offers Micro Lots in Standard Accounts


I just found out (fxcm mailing list) that micro lot trading is available to all new FXCM Trading Station II accounts. When trading with FXCM LLC, a trader’s maximum leverage is still 50:1. However, with micro (1k) lots, traders now have access to a greater range of trade sizes, providing more control and flexibility.

The leverage sucks, but what can you do this is the rule with all US brokers.

I used to trade with FXCM’s Trading Station II but I stopped as I got more and more into MT4 and automated trading. I’m curious to hear some feedback from Trade Station II traders though. How is the platform now? What do you think?