Reviewer Quality Score
based on 24 reviews
Pippy
Best Forex Tools
for 4XLounge
10/31/2011
- Pros:
- Consistent updates, Excellent customer support
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- I left a review about their signals about 2 years ago (very good, read below... actually, I'm not 100% sure if this new review will knock out the old one?). This review is for their trading tools.
If you are a forex trader, then you know that knowledge/information is king. Looking at price charts is not enough. We need good solid insight and data. As mentioned before, I have paid for every premium tool available. A few are good, but most of them are crap. None of them provide a combination of signals, tools and live support that 4xlounge provides.
The tools at 4xlounge are by far the best. Remember, I am not referring to their trading signals. This review is for their trading tools. My personal favorite is Trend Map. However, I find myself using their market barometers, power bars and x meter a lot too.
Seriously, give these folks a shot. Do not reply on their trading signals alone. Their trading signals are effective, but their tools are fantastic.
Not as I expected...
for Oanda
10/31/2011
- Pros:
- Easy-to-use platform
- Cons:
- Spread widens frequently, Poor customer support, Wide spreads, Unstable platform
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- Most of my friends agree, not sure what happened... I use to love Oanda, but recently not so much. I am using their MT4 product and my EA's are not performing well.
I have accounts with 7 different brokers. I use the same EA's on all 7 accounts (4xlounge, Matrix and a custom EA). The results are pretty much the same with all brokers except my Oanda account. My Oanda account frequently misses trades and/or slips the entry by as much as 18 pips. Take a close look at the candles. The Oanda spreads are all over the place.
It might be a technology issue with Oanda's MT4, but I would not use them at the moment.
Low quality broker for sure
for Crown Forex
10/1/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- I tried Crown back in their "1 pip spread" days (I don't think they offer that anymore). That should have been enough to warning me, but I tried their service anyway. Ugg...
The biggest issue that I had was VERY poor order execution. Usually 3 to 5 pips away from the price I was quoted. So I never accepted the orders. Basically, I missed dozens and dozens of trades due to their order desk. Note: I am not a news trader, just a normal swing trader.
The second biggest issue was trying to contact their support staff for anything. Most of my support requests were ignored. I finally decided called them (International call for me). They were extremely rude and unhelpful. That's when I decided to pull my funds (that took 57 days!)
Bottom Line: if they aren't scammers, then they just suck reeeeal bad. Stay away.
Slow execution
for FX Solutions
9/17/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- In my quest to find the perfect broker (lol, almost said that with a straight face), I continue to fund live accounts and test the water. My personal system for rating brokers is as follows:
- how big/how much capital?
- how long/how long have they been around?
- how easy/how easy to fund and get your money + how fast
- liquidity/how fast are orders filled
- stable/how stable is the price feed, mild spikes are normal, but spikes that = 50% of the pairs daily ATR is not, lol...
My FXSol experience: everything was pretty normal, but orders would hang or just not get filled. I also had some issue with price spikes. Customer service was friendly, but not helpful. Over-all, there are better brokers. Hense my 3 star rating.
I don't consider them "scammy", but they would NOT be my first choice.
Pippy
Not great but not bad
for Kathy Lien
9/17/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- Like most highly visible pundants in the finance world, Kathy provides timely "on-point" material without commiting to anything. Instead of "buy in this range" or "sell in the range", it's general macro information (for the most part). Don't misunderstand, the macro picture is important to forex traders, but you can get that analysis from dozens of sites. Kathy is a "pundant" and her IT folks do a great job. I would prefer a bit more "grit" to my analysis and less "filler".
Bottom line: The blog is useful, just not any different than all the other blogs and info sites.
It would be nice to find a site that's willing to "hang it out there" and make a few educated predictions. I think we have enough "talking heads". Don't we?
Pippy
I would pass on this one
for Forex Ambush 2.0
9/16/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- I tried these guys after hearing some buzz. I signed up without really checking anything out (yes, I do that sometimes, lol...) Lucky for me I was only demo trading this system. Maybe this service worked at one time, but no longer. Stay away...
A hint: their posted results (they call them statements) end in May 09? That is a red flag. I can understand 30 to 60 days out if they update manually, but 4 months?
Bottom line: poor technology and poor results from my experience. Definately not worth the cash.
Good analysis and insight
for FX-MM
9/12/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- I get a few mags from time to time. I decided to try FXMM. The presentation is a bit "hoaky", but it a very good read. If Forbes is the Cosmo of the finance world, then FXMM is the Time. Not as "pretty", but the info is just as good.
They usually have free copies at the money fairs and other events. If you subscribe directly from their site, they get more $$. In our digital age, printed media needs every $$ that they can get.
Pippy
Great broker, nightmare platform
for GFT
9/12/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- I still have my account with GFT and most of the serious traders that I know still use them. GFT is a good solid broker and they've been around for years (as long as FXCM). Their technology is not designed for beginners. I have friends that move 1 to 2 yards per month thur GFT without issue, so they aren't scammy.
Here is the deal. GFT doesn't want the $1000 mini accounts. Everything is designed to help larger account holders move their volume with as little hassle as possible... but for a fee. Think of GFT as the AMEX of the our industry. A service that is designed and priced for premium clients.
Bottom line (and this is important): They've been around forever and they don't have a "scammy" rating anywhere? They don't have a lot of 5 star ratings either, but still... no extreme negative reviews. Their spreads aren't fantastic, but they will NOT dork with your account.
My rating = 5 stars for the broker, - 1 star for the crappy spreads
Note: if I had only my money to trade, I would probably use GFT or Dukascopy
Pippy
Not as bad as expected
for FXCM
9/12/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- Well... Yeah, I know (is he really leaving a decent review for FXCM?) and as it turns out "yes". Who knew. I've been broker bouncing to compare service, execution, etc... My clients want me to use a larger, well regulated broker. The only broker that is even close to FXCM in size, is Dukascopy. So, my report:
My trades are being filled within normal parameters. Meaning: don't trade around news and don't expect to get the very top or bottom of a price move. That is consistent with all of the other "legit" brokers that I've used.
Money is processed very fast and without issue. I crossed a critical threshold last month: I withdrew more money than I orginally deposited (that's usually when you start to have issues with a broker). So far so good.
I have a good friend that works in FXCM's CS department. He told me that FXCM get's reamed by the NFA on a regular basis, so their books have to be fairly clean.
Why not 5 stars? The ole, "If you fool me once, shame on you. If you fool me twice, shame on me". I have a "history" with FXCM, but my clients begged me to give them another chance, so I did. If everything goes well for 2 or 3 years, I'll consider a 5 star rating, lol...
Bottom line: At the end of the day this is still FXCM. We've all heard or know first hand the horror stories. Dip your toe in first!
Oh, and I'm using their MT4 service
Pippy
Suck Fest
for Freedom Rocks
9/8/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- I won't bother to explain how the system works, but STAY AWAY, VERY FAR AWAY! I have friends that are still holding trades from 2007 (hoping that they will come back).
Basically it's a carry system. Today's economic climate doesn't support a carry system (at all).
