I for one, have found my holy grail forex broker. I have to say, about a month ago, I was quiet desperate to find a different forex broker. I have been trading with interbankfx (IBFX) for a while and although they have never ever done anything wrong, like hunting my stops, removing my orders, slipping my trades, etc ; I felt that a 25 USD charge for deposits and wire withdrawals was a little bit too much. I also wanted a broker that could transfer funds directly from my paypal account so that I could save some time.
Then I found fxclearing.ca, now I’m a believer ! At first it seemed just too good to be true. Flexible leverage from 1:1 to 1:500, minimum deposit of 1 USD, 1 pip spreads on all 4 majors (yes, that’s right, just 1 pip !) , no withdrawal or deposit fees through paypal, etc. I mean, it was a dream come true. I started a mini account that same day and have been happily trading with them ever since. They honor my market orders to the pip, never had any slippage on more than 30 transactions at very different market conditions and they have never hunted by stops nor have they removed any of my orders or played “dirty” in any way. Their servers have also been rock solid with absolutely no disconnections, unlike interbankfx which tends to have disconnection issues sometimes.
Today I made two trades during the FOMC interest rate news release. They just increased the EUR/USD spread to 3 pips with an amazing volume. The spreads returned to normal about an hour after the release.
I have liked this broker so much, I felt compelled to write a review about them. The account creation process was easy and straightforward, their staff was really helpful and their trading conditions have been awesome. I also have to mention, their mini accounts are swap free, so that is a plus for me too.
Finally, they do have the inconvenience of not allowing american or canadian citizens due to the fact that they don’t have the required permissions to let them. However, even though this may strike you as suspicious, they are regulated in Canada and I can say, through experience, that they have been all they say.