Our preferred MT4 Forex Broker is Forex.com U.K. “Forex.com acts as the clearing agent and counterparty to customers margined forex transactions introduced by “PracticalFX”. FOREX.com is a trading name of GAIN Capital - FOREX.com UK Limited and is authorised and regulated by the Financial Services Authority. FSA No. 190864.”
Forex.com offers 37 real time currency pairs with commission free trading and are compensated through the bid ask spread on the various currency pairs. PracticalFX receives 1 pip round turn rebate from forex.com that has no effect on the normal bid/ask spread offered to its clients.
Standard or Mini accounts can be opened, the latter can be opened with as little as $250. Stop Loss and Limit orders are guaranteed to be filled at your price up to $2,000,000 under normal trading conditions. Placing contingent orders (Stop Loss/limit orders) may not limit your losses to the intended amount during Major Fundamental Announcements or outside of FOREX.com’s normal trading hours.
Forex.com also offers a practice account with up to $50 000 virtual money, allowing traders to test their trading strategies and familiarize themselves with the software prior to opening a live account.
Note: “FOREX.com UK is not currently accepting account applications from residents of the People’s Republic of China and Nigeria.
Governmental restrictions and our policies prohibit us from opening accounts from the following restricted OFAC sanctioned countries: Afghanistan, Burma (Myanmar), Cote d'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Former Liberian Regime of Charles Taylor, Iran, Iraq, Libya, North Korea, Sudan, Syria, Unita (Angola) and Zimbabwe, as well as other individuals specifically sanctioned.”
