Forex.com + FXDD = recommended...why ??

[ashromani]

I am deeply concerned that the so-called "recommended" brokers that are suggested to try the EAs on are FXDD and Forex.com(GainCapital). Both these companies have terrible negative reviews and complaints...

because i am a new member here, i can't post links but it's easy to see what i am talking about by going to the ForexPeaceArmy website and checking both these brokers in their review section...it's not pretty

While i understand that some of these reviews are of course subjective(possible competitors out to discredit them) and possibly biased (especially if some of the reviewers lost money due to their own negligence or undisciplined trading strategies and feel they need to blame the broker), the sheer number of negative reviews is disturbing. I could accept a small percentage of negative reviews since no broker is perfect, but their ratings on FPA, which is a trusted forex review source, are really BAD.

This makes me question why you would recommend these brokers. I know you are an IB for Forex.com and i appreciate that you honestly and openly admitted that in the EA users manual. But both Forex.com and FXDD have really BAD reputations. Your product has had positive reviews on FPA and other sites so it's just really confusing and disturbing why you would recommend these shady brokers.

To be fair, i will wait for an honest and reasonable answer to my question. I am not passing judgement on these brokers because i never used them. But the negative feedback from MANY people who have is worrisome, to say the least.

Thanks and best regards

Alex

P.S. i will personally choose my own broker(one that has a good reputation and track record) to run RoboMiner II on, regardless of recommendations but your feedback would very much appreciated by me and other investors searching for good brokers.

[Forex Goldmine]

Hi Alex,

Well I can - and will - post the links you are referring to:

http://www.forexpeacearmy.com/public.../www.forex.com

http://www.forexpeacearmy.com/public...w/www.fxdd.com

And I can understand why you would be concerned over the negative reviews that each company has received on FPA. It surely makes a lot of sense to review your choice of broker prior to going live with them.

In their defense, there are 102 reviews for FXDD and 143 for Gain Capital. I don't know exactly how many clients either broker has, but I sure would hope that these people are in the minority. And, of course, if we also have to take into account the rating scale being used (1-5 with an additional "None" choice) and how those are factored into the score. Of those 143 reviews, to get a 2.11 score, that means about 60% are bad (1-2 stars) and 40% (3-5 stars) are good (right? Please do check my math.) So that means about 85 people had bad experiences with Gain.

I've personally used Gain in the past, and found them to be INCREDIBLY good. Their customer service was quick. No, it was not kiss-ass friendly, but I didn't want it to be - I wanted them to react quickly when my money was on the line. I actually had a problem where a SL was not triggered and the margin called me. I got on the phone and not 3 minutes later did they honor my SL and refunded me the lost funds. I can't complain about that.

There seems to be a lot more to many of the reviews as well. One person is saying he was having problems with a wire transfer to open his account. How do we really know he did not make a mistake. Other people are complaining about the Java interface (which I thought sucked, but I just used their other one.) My point is that the reviews are very different - some are about order execution, stop hunting, platform issues, account setup, or even rude customer service reps. I'm not surprised they have 85 bad reviews in 10 years of operation, spanning 140 countries. I mean really ... ONLY 85 bad reviews?

I have not personally used FXDD, so I can't really comment on them, but I imagine it's about the same story.

And then, hey, is it possible some of the reviews are placed by competitors? Many of us have seen MT4stats.com suffer through a DDOS attack by one of their competitors over the past several months. When money is at stake, some people are unscrupulous and will engage in unethical and even illegal behavior to get a hand up. For shame, I say.

And yes, Jerry Brunett is the IB for Forex.com (not I, James Fullerton, who runs this site and handles sales and support on his behalf.) So he gets something out of it, and I don't, if that helps at all.

So, all I can really say is to give them a shot and see how you think they do. I'm using IBFX right now, and they've been fine too, but I hate the FIFO aspect of it. I was not paying attention and left my account open and now I have dozens of open trades which I am not willing to take a loss on, but as soon as they all close I will be moving to Forex.com so I can make more profits on the smaller movements on the non-FIFO platform.

With all that said ... PLEASE do let us know what broker you chose and why. There are so many brokers out there, I am always happy to hear about one which provides the best profits for our line of robots.

And my apologies in the delay in getting back to you, I've been fighting a flu bug or something today.

-James Fullerton

[only20gp]

i am with both gain and fxdd. nothing to complain about at all. all services are top notch.