Forex trading is not only about placing trades, as traders can find easier solution from copy trading platform. What is it and which brokers to choose if you want to copy trade?
Lots of traders were passionate to learn about trading in the forex market by a technique of copy trade. In line with sophisticated technology that grew up significantly over the past few years, many applications facilitated forex trading tools which are very useful and making it easy. Like professional forex traders, we can trade right in the forex market from the palm of our hand. Thanks to social media and increasingly faster web access, financial news, and market analysis propagating at lightning speed.
Nonetheless, there are still many people who don't get what copy trading is and how copy trading works. Through this article, We want to explain what copy trading is, how copy trading works, and what are the top forex brokers for copy trading.
Essentially, copy trading is one of the forex trading tools to help traders to automatically copy positions opened and managed by other selected traders. Unlike mirror trading, a method that allows forex traders to copy specific strategies, any trading action made by the copied forex trader, such as opening a position, assigning Stop Loss and Take Profit orders, or closing a position, those are executed according to the proportion between the copied forex trader's account and the copying forex trader's allotted copy trading funds.
See also: Forex Brokers with the Lowest Deposit
Copy trading was first developed from automated trading, also known as algorithmic trading around 2005. It was an automated trading system where forex traders were sharing their own trading history that others could follow. Tradency was one of the first companies to propose an auto-trading system in 2005 called "Mirror Trader".
It initially worked like this:
A forex trader apply their own trading strategy and register it in the systems with records showing the performance of said strategy. Other traders who are interested could decide to mirror the strategy on their account, so all the transactions are generated from that strategy.
Since 2010, it has become an increasingly popular feature among online financial trading brokers as a way to enable less experienced forex traders to benefit from the trading decisions of forex traders whom they deem successful. On the other hand, the copied forex traders could gain from commissions usually applied to returns made from profitable trades.
Best Forex Brokers For Copy Trading
Below is the list of top 5 forex brokers for copy trading:
Islamic accounts available
US traders are welcome
eToro established in early 2007, with a mission to make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions. The company has head offices in the United Kingdom, Cyprus, USA, and Australia.
eToro (Europe) Ltd operates as a Financial Services Company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under license no. #109/10. Meanwhile, eToro (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.
As for eToro AUS Capital Pty Ltd, the legal standing is acknowledged by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License 491139.
A broker that belongs to the 4-digit type, eToro offers both short-term options for day traders and long-term options for investors, such as their innovative CopyPortfoliosTM, a fully managed thematic portfolio.
Since 2007, eToro has been at the forefront of the Fintech revolution. The most recent was launched in 2017, which is CopyPortfolios powered by Machine learning Al. Beyond developing CopyPortfolios, the company integrated Microsoft's machine learning technology into Momentum DD.
The new CopyPortfolio investment strategy uses artificial intelligence to find the steadiest traders who are most likely to generate a double-digit return and bundle traders into one fully-managed portfolio. eToro has hundreds of financial assets for trading across several categories including stocks, commodities, crypto assets, currencies, indices, and ETFs. Each asset class has characteristics and can be traded using a variety of investment strategies.
Some positions on eToro involve ownership of underlying assets, such as non-leveraged positions on stocks and cryptos. Employing CFDs will enable a variety of options, such as leveraged trades, short (sell) positions, fractional ownership, and more. For example, traders can invest as little as USD100 in gold, even if a single unit of gold cost USD1,000. Some of eToro's most popular CFD commodities include gold, oil, natural gas, silver, and platinum.
Currencies are traded on eToro only as CFDs. Also, CFDs enable Sell (short) positions and leveraged trade, even for assets that don't offer the option in traditional trading. Some of the popular currencies include EUR/USD, GBP/USD, AUD/USD, USD/JPY, and USD/CAD.
Furthermore, An Exchange-Traded Fund (ETF) is a financial instrument comprising several assets grouped to serve as one tradable fund. After opening an account in eToro , traders can invest as little as USD250 in an ETF that costs USD500. Some of the popular ETFs on eToro include SPY, VXXB, TLT, and HMMJ.
However, eToro also offers additional functions using CFD trading. All leveraged ETF positions in the UK are under FCA regulations. Meanwhile, all CFD positions executed by eToro Australia are under ASIC regulations.
The company has other advantages. In all financial assets that can be traded, eToro does not charge any deposit or trading frees other than spreads.
eToro charges a USD25 fee for withdrawals and the minimum withdrawal amount is USD50. Long (Buy), non-leveraged crypto, stock, and ETF positions are not executed as CFDs and do not incur any fees. eToro does charge overnight or weekend fees for CFDs positions, such as leveraged positions and short (sell) orders.
Fee updates always apply to open positions. Fees are subject to change at any given time and could change daily, without prior notice, depending on market conditions.
As a beginner, trader can use CopyTrading eToro. Different from the features of other brokers, traders can copy the strategies of professional traders without fee or profit-sharing. Therefore, 100% profit is fully owned by traders. For example, while trader A who is copied by trader B, produces a profit of 10% this month, then trader B also gets a profit of 10%.
The company is the world's leading social trading network. Since eToro operates in complete transparency , each trader has valuable information on their eToro profiles, so other traders that are interested to copy their trades can have assistance in creating their best portfolios.
Another feature that is unique to eToro is the personalized, social News Feed. Just like on any social media, traders can post their updates on feed, comment on other's posts, and gradually create a feed that is tailor-fitted to trader's trading and investing interests. On eToro social trading platform , traders will also get notifications when a trader writes a new post and many other important updates.
eToro is a social trading and multi-asset brokerage company that focuses on providing financial and copy trading services. The company has registered offices in Cyprus, Israel, the United Kingdom, the United States, and Australia. In 2018, the company's value was $800 million. It has continued to update its cutting-edge platform with the next-generation "eToro platform". It delivers an astonishing user experience in a modern web-based user interface. It continues to lead the industry forward and almost exclusively focuses on social copy trading. Furthermore, this platform is well-known for stock copy trading as well as cryptocurrency advancements in social trading.
Trading by telephone
Islamic accounts available
Pepperstone was founded in 2010 by a team of experienced traders with a shared commitment to improve the world of online trading. Based in Melbourne, Australia, they grew to become one of the largest forex brokers in the world. If traders want to find a broker that provides low spreads, fast execution, and award-winning support, then the answer is Pepperstone.
Pepperstone has a strong legality guarantee because it has been licensed by the Australian regulator ASIC and FCA. Traders' funds can be deposited in segregated accounts at top Australian banks, one of which is the National Australia Bank (NAB). Therefore, the safety of funds is not a concern if a trader chooses to open an account in Pepperstone .
They succeeded in collaborating with 23 top banks to bring Bid to investors instantly via optical fiber. This allows all orders to be executed 100 percent automatically with low latency up to 0.05 milliseconds, without dealing desk intervention and requotes, as well as with super low trading costs.
Trusted by over 73,000 traders around the world, Pepperstone processes an average of USD12.55 billion of trading volumes every day. Because of that, they have many awards such as:
- The Best Global Forex ECN Broker 2019 and Best Forex Trading Support-Europe
- Best Australian Broker and Best Trading Platform 2018 by Compareforexbrokers.com
- Best Forex ECN Broker, Best Forex Trading Support, and Best Forex Trading Conditions by UK Forex Awards 2018
With the many rewards gained, Pepperstone hopes to attract more and more traders from all over the world. The rising performance of Pepperstone is not only due to the super-tight spreads and fast execution that it provides, but also because many traders are interested in trading with deposits in currencies other than US Dollars.
For this reason, Pepperstone is one of the most market-responsive brokers because it is willing to accept deposits in 10 currencies, which include AUD, USD, EUR, CAD, GBP, CHF, JPY, NZD, SGD, and HKD.
Trading in Pepperstone would allow traders to choose between 11 trading platforms: MT4 for desktop, MT4 Mac, MT4 iPhone, MT4 Android, MT4 iPad/Tablet, MT5, WebTrader, cTrader WebTrader, cTrader cAlgo, and cTrader Mobile. The choice of trading platforms may seem confusing to novice traders, but actually, it is very useful because it has fast execution.
When trading forex, traders can enjoy raw spreads from 0.0 pips on Razor accounts, over 61 currency pairs, and commission-free account funding on a wide range of deposit options. In addition to currency pairs, Pepperstone provides many types of trading instruments, including CFDs for indices and shares, commodities, and cryptocurrencies.
Instruments in commodity trading are pretty much diversified. Not only metal, gold, and silver, but traders can also trade with soft commodities such as cotton, sugar, coffee, cocoa, and orange juice. Pepperstone also provides trading on energy (oil and gas).
There are two types of accounts provided by Pepperstone, namely Razor accounts, and Standard accounts. If you area beginner, it is recommended to choose a Standard account with an average EUR/USD spread of 1.0-1.3 pips and free commission.
Those with particular trading styles such as scalpers and algorithmic traders may enjoy the lower cost setup traditionally seen in a Razor account, with a commission from AUD7 round turn of 100k traded. The initial deposit starts at USD200 with a minimum lot of 0.01 (micro) and 1:500 leverage.
As a Pepperstone client, a trader can fund and withdraw with alternative methods including Visa, Mastercard, POLi internet banking, bank transfer, BPay, PayPal, Neteller, Skrill, and Union Pay.
If you are new to trading or looking to practice your trading strategies in a risk-free environment, you can create Demo Account in Pepperstone. But if you are an experienced trader or prefer to learn by doing, Pepperstone provides a Live Account that allows you to trade with live executions and pricing.
Traders can also follow and copy strategies from popular traders using third-party services while learning how to improve their trading abilities. Pepperstone has partnered with a range of social trading platforms that traders can choose from, such as Myfxbook, ZuluTrade, Mirror Trader, MetaTrader signals, and Duplitrade.
Pepperstone is headquartered in Melbourne, Australia, and a broker specializing in financial markets access. The company provides access to more than 150 instruments including Forex, Indices, Shares, Commodities, Cryptocurrencies, and Currency Index CFDs. What makes it a competitive forex broker for copy trading is the comprehensive range of third-party social copy-trading platforms that it offers, in addition to the native forex signals market available in MetaTrader 4 (MT4) and cMirror platforms. Another noteworthy service for copy trading is the company's connection to the ZuluTrade platform, AutoTrade by Myfxbook, Tradency’s MirrorTrader platform, in addition to the developer's RoboX solution.
Pepperstone is also well-known for its launch of EDGE FX trading platform as an alternative to MT. It offers a standard account type, oriented towards smaller accounts, and a Razor account with tighter spreads for more advanced and Expert Advisor (EA) algorithmic traders.
Interest rate on funds
Trading by telephone
Requires sending documents via postal mail
FXCM (Forex Capital Markets) is a brand name of a retail broker for trading on the financial market, especially the foreign exchange market. The broker was founded in 1999 and was originally headquartered in the United States. After a series of lawsuits from customers and case settlements by the US regulator (CFTC), FXCM moved from the US and became a UK-based broker, authorized and regulated by the Financial Conduct Authority (registration number 217689).
Trading with FXCM is supported by enhanced execution with the Liquidity providers' stream pricing through the FastMatch Electronic Communication Network.
FXCM works with several global banks, financial institutions, and other market makers as their Liquidity providers including Barclays Bank, Citadel Securities, Citibank, Deutsche Bank, FASTMATCH, XTX Markets Limited, UBS, Morgan Stanley, Commerzbank, and Jefferies Financial Services.
This, in turn, enables FXCM to present its clients with fast trade execution, competitive spreads, low negative slippage, no re-quotes, no stop/limit restrictions, and up to 89% of orders are executed at the requested price or better.
For the trading platform, FXCM is remarkably known for its proprietary product called Trading Station. The latest version of this platform's web display is claimed to be built in Mac Friendly HTML5. It features a range of trading appliances such as integrated news, economic calendar, FXCM's top trading tools, social trading functionalities through FXCM Cloud, customized trading analytics, automated strategies, and advanced charting for better analysis. For flexible traders who prefer trading on-the-go, FXCM has also provided Trading Station in mobile version, both for iOS and Android users.
However, the company's in-house platform is not the only option presented for clients. FXCM also gives the choice to use MetaTrader 4 for clients who are more familiar with MetaQuote's product. Also, ZuluTrade access is enabled for clients with keen interests in copy trading schemes that transcend across brokers.
Instead of classifying account types based on minimum deposits, FXCM chooses to offer trading accounts based on the instruments traded. For FX traders, this broker provides Active Trader and Institutional accounts.
Active Trader is the ultimate account type for retail traders with two-tier pricing. Tier 1 applies a minimum deposit of $25,000 with a $30 commission for 1 million volumes traded, while Tier 2 has no detail on deposit requirement but gives better fee conditions. Spreads in both tiers start from 0.2 pips.
Institutional account, also known as FXCM Pro, is marketed as a wholesale execution and liquidity solution for retail brokers, hedge funds, and emerging market banks. The account presents trading spreads from 0.1 pips and other competitive benefits like API solutions as well as prime brokerage services.
For non-FX traders, FXCM provides a CFD trading account with low spread costs from 0.37 pips (in XAU/USD) and a wide range of class assets from precious metals, soft commodities, and indices.
Last but not least, a collection of in-depth articles is provided to help traders' knowledge and insights on the forex market. Trading tools like FXCM Plus, Market Scanner, Trading Signals, and Technical Levels are also developed to support traders who open accounts in FXCM .
In conclusion, FXCM is an experienced retail broker with a lot of "ammunition" to help traders with its best version of execution, pricing, and tools. It is a well-regulated broker backed with a long history in the financial market, even though it has a dark history in the United States' brokerage industry.
Still, the relatively high standard on minimum deposit ($25,000) puts FXCM as a broker suitable for experienced traders with good money management. It is not recommended for new traders with limited capital.
Also known as Forex Capital Markets, FXCM is one of the major retail brokers for trading on the forex market. The company hosts several options for copy trading, including the web-based ZuluTrade platform and the signals from the MT4 platform. Originally famous as a US-based broker, FXCM has come such a long way and is now a subsidiary company of Jefferies Financial Group. With more than 20 years of experience since its foundation, FXCM has proven to be one of the most experienced brokers in the forex trading industry.
Darwinex provides technology to help traders developing their skills and build verifiable track records. The company was founded in 2012 and employed more than 40 across London headquarters. It serves access to almost 1,200 strategies developed by traders, which are traded like securities (ticker symbols) on the Darwinex platform. There is a competition system in which the best performing strategies on the platform would receive funding from the broker. The allocation for the reward amounts to $4.5 million during each competition period.
Variable and Fixed
Islamic accounts available
Requires sending documents via postal mail
Avatrade can be called one of the most well-rounded brokers that support almost all trading styles. Not only allowing hedging, scalping, and expert advisor (EA), Avatrade also completes their service with One-cancels-the-other order (OCO) and AutoTrading in many variants of automated trading systems.
AvaTrade was founded in 2006, with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.
In 2019, the Dublin-based broker got achievement from Daytrading.com as The Best Forex Broker 2019. Besides, the company is honored as Best Forex Broker, Best Bitcoin CFD Trading Provider of the year, and Best Affiliation Programme in the European area.
Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.
The Autochartist free signal is provided in Gold Account, Platinum Account, and AVA Select. By opening an account in AvaTrade , traders don't have to pay for getting a full Autochartist service. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives.
Traders can access AvaTrade in many variants of platforms, such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading, and AvaOptions.
In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even with deposits of up to ten thousand dollars, security can be guaranteed. Applying the Segregated Account system, AvaTrade is regulated by the Central Bank of Ireland (No.C53877), ASIC Australia (No.406684), JFSA Japan (No.1662), and South Africa (FSP 45984).
Can traders lose more than their deposit abruptly in the event of high volatility? AvaTrade explicitly answers no, as traders have negative balance protection.
With a minimum deposit of USD100, AvaTrade offers various leverage depending on the trading instruments; whether it is forex (starts from 30:1), indices (starts from 20:1), commodities (starts from 5:1), ETFs (starts from 5:1), or cryptocurrencies (starts from 2:1).
AvaTrade has committed to a set of values in relation to customers. Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform.
New traders can also learn forex trading in the Education tab on AvaTrade's official website . Traders will find a wide collection of articles, video tutorials, and more tools that will assist them every step of the way. It is an important requirement as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account.
There are many types of account types provided by AvaTrade. There is also an Islamic Trading Account, which is uniquely provided for Muslim Traders. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests (swap-free), which sits well with the finance principles of Sharia Law.
If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice . The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time.
Avatrade was founded in 2011. The company serves multiple platforms for algorithmic and social copy-trading. It also provides multiple online forex trading platforms including MT4, MT5, DupliTrade, WebTrader, AvaOptions, and the AvaTradeGO mobile app – there’s something for everyone. Forex traders can also enjoy real-time updates to stay on top of the market.
Another way to select the best brokers for copy trading is to compare them side by side. Here is an example of the comparison between three of the forex brokers above:
rated by 2 users
rated by 1 users
rated by 44 users
|Office(s)||China, Cyprus and United Kingdom||Australia, China, Kenya, Ukraine and United States||Australia, Canada, Chile, France, Germany, Hong Kong, Israel, Italy, Japan, South Africa, United Kingdom and United States|
|Regulation|| ASIC 491139 |
FCA (UK), FRN 583263
FINRA, 298361/SEC#: 8-70212
|ASIC, 414530 |
Capital Markets Authority of Kenya, 128
DFSA (Dubai), F004356
|ASIC, 309763 |
CONSOB (Italy) 76
DMCC (Dubai), 31171
FCA (UK), 217689
ISA (Israel), 2
SFC (Hong Kong), AIM232
|Minimum Position||0.1 lot||0.01 lot||0.01 lot|
|Payment||Credit/debit cards, Neteller, PayPal, Skrill, UnionPay, WebMoney, Wire transfer and Yandex.Money||BPAY, Credit/debit cards, Neteller, PayPal, Skrill, UnionPay and Wire transfer||Credit/debit cards, Neteller, Skrill and Wire transfer|
|Official Website||Visit eToro||Visit Pepperstone||Visit FXCM|
|Forex Demo Account|
|US traders are welcome|
|Requires sending documents via postal mail|
|Overnight interest rates (swaps)|
|Trading by telephone|
|Interest rate on funds|
Trading Platforms and Complements
|Trading via API|
|One-Cancels-Other (OCO) orders|
|Gold & silver|
|Website Languages||Arabic, Chinese, Dutch, English, Finnish, French, German, Hungarian, Italian, Norwegian, Polish, Portuguese, Romanian, Russian, Spanish, Swedish||Chinese, English, Russian||Arabic, Chinese, English, French, German, Greek, Hebrew, Italian, Portuguese, Spanish, Swedish|
|General Review||Read eToro Review||Read Pepperstone Review||Read FXCM Review|
|User Reviews|| |
jedi90Oct 8 2020
Terrible customer service. I’ve spent 2 weeks waiting to get verified. Its saying that by depositing money it will be faster, i do not believe this. What means if you deposit it’s faster?? You have to verify asap after you’re seeing that i have uploaded my documents, money doesn’t sleep, I’m loosing money while waiting. Got my account activated 4 weeks later.
Jason CrownSep 24 2020
I became customer and they start dialing me for days. I did not ask for this. This is the reason I terminated my account and withdrew my funds. I better stick to crypto trading on real crypto exchanges.
Jasmine ShahSep 24 2020
Despite that the sign up takes time, and few people thought that it is a scam, I can say that eToro is a reliable trading platform. I'm happy to see that my profit increases while being stuck in this pandemic. Thank you!
HenderySep 24 2020
I love eToro for many reasons. It is a social investment/trading platform so you will be able to exchange ideas with other users. It has a unique feature to copy portfolios of successful traders you like on the platform. It’s also really transparent as you’ll see returns and trading history of other users. Definitely recommend.
Gemma AnthonySep 23 2020
I have been with etoro for a couple of months now I have found them nothing but excellent. I am new to the game and I have found that I am finding my feet and that I have no problem with etoro they make it simple for me to invest and also very simple to withdrawal I can't thank them enough for this platform.
Carly FoehrSep 21 2020
The app and website always crashes whenever there is an opportunity to earn profits. What is the point having etoro anyways?? if it cant provide its users a proper platform to trade on.
Noah CarlesnSep 21 2020
Their support blames you even when it is a server side issue. I bought a stock they took the money out of my account but the position didn’t appear (it just randomly opened later) I bought it at market open.
asx88Sep 20 2020
It looks like a good website until you want to withdraw your money and need the customer support for help. I'am waiting a month now to get my money back, but it's still not on my account.
Hok ChoSep 20 2020
The withdrawal process is confusing. Cannot even withdrawn using bank deposit.
DellamarieSep 20 2020
My experience was bad with Etoro and there are many reasons. The platform stops working in case of profit and the inability to close profitable trades.When the payment is withdrawn, the account is suspended due to violation of Etoro's terms.
Kina BSep 20 2020
I have been trading with Etoro for a while now dough I have only made small deposit I find the site to be reliable, also have made withdrawal and find it reliable in that area as well. Their platform is very good don't get me wrong I just prefer the MT4 platform; I give them a 4 star not because they don't deserve a 5 star is for the lack of MT4 other than that kudos to you Etoro.
Laila MoonSep 18 2020
Solid platform its just expensive to use. The lay out is good but opening the same trades on my etoro account compaired to my mt4 account is shocking. I always make less money with etoro . Good platform for absolute beginners.
Megan WheySep 16 2020
Besides low tradeing fee, anything else is horrible. The worst fact its that their app won't work on mondays when US market opens. I lost a ton because i wasn't able to reach my positions in time and they won't even care.
Jules RSep 15 2020
eToro is very user-friendly and easy to navigate. As an investor, I like how easy it is to monitor each position I open and set up my entry and target point. It's an awesome social trading platform. I find myself spending more time with this app now than other social networks and trading platforms.
Azizah NSep 14 2020
I have been using it for 5 years now, high fees, but it is really easy to use, and powerful at the same time.
Arlene JSep 13 2020
SL orders have high slippage. Also they took high comission and fee on withdrawal process which is very upsetting. There are better alternatives anyway.
JosephineSep 13 2020
I don't know how this broker works. They manipulated and hunts stop loss even if your SL is 15-20 pips away. Please beware of their slippage, your chart will suddenly blank. Their chart also different from other live feeds.
Susan BuchierSep 12 2020
It looks like etoro will block all the great possibility investment and manipulated stock prices. Then after that, you will loose all of your money.
John WaltersSep 10 2020
This is either a scam or they have the worst APP and customer service ever. I have been trying to withdraw my money for weeks now and they will not give it back. Stay away.
Daniel ParkSep 10 2020
Etoro has a nice easy to use platform and is good for beginners. They have a lot of useful features and the option to copy trade other traders. It's not a bad platform, but I don’t think to stayed there for too long.
Drew FabrizioAug 20 2020
I started with Pepperstone a couple of weeks ago. For the first time, everything seems fine, but it's just that their MT4 platform is really lagging during events. Also, their commissions are relatively expensive. It's not that they're not good, but their calculation with commissions and swaps really not my type.
Harley CadwellAug 20 2020
I place my withdrawal on Saturday, then on Monday, I got the money. It's a relatively fast process. Looking forward to another withdrawal this week. Not much but glad I got the profit.
Ruby PearceAug 20 2020
Such a great service and they have a good trading platform. I've been using Pepperstone for a while now and they keep improving its service in all different aspects.
Audrey PackmanAug 20 2020
I'm very interested in cTrader. That's why I join Pepperstone, it's the main reason. I've been trading with them for a while with no issues. I took my withdrawal profit (unfortunately, not that much :D) 2 or 3 times a week and it takes 2 days max to processed.
Eugene HackathornAug 20 2020
At the start, the broker running very well. But the longer it lasts, the worse it gets. Found that there was no more credit card option for withdrawals and can only be paid to PayPal which charged with high fees. Compared to other competitors, you know that deposit and withdrawal fees are relatively considered. Fastest and cheapest is a good sign of customer service.
Hannah CreedAug 20 2020
Such a good Australian local broker which hard to find these days. Excellent for support. Hope you guys can improve your mobile app tools for quick deposit and withdrawal, and also for other customer service support.
Markus ShallowAug 20 2020
I think Pepperstone needs to re-training its customer service once in a while. Because some of their representation doesn't have a clue about their own regulations. They are not well informed.
TuckerAug 20 2020
I don't have any problem with Pepperstone right now. They are very helpful dan provides good insight on their Telegram channel. I don't have problems with withdrawing funds too. Keep up the great job.
Patrick WilsonAug 20 2020
Many said that they were dealing with a sudden abnormal spike in the spread on a daily basis during the first hour each day. Not to scare anyone, but I just want to alarm other users about this broker.
Dawson MilesAug 20 2020
My experience with Pepperstone was very pleasant. I can make a decent profit. There is no problem with the withdrawal process.
Liam CastwoodAug 20 2020
So far, as a newbie on the forex trader, I don't have any problems with Pepperstone. They didn't hound me with phone calls, only called me to introduce themselves, and gave me an email to request assistance just in case I have any problems later. I am yet to make a withdrawal with Pepperstone but I will report back once I have.
Justin FrancoAug 20 2020
I don't have an account on Pepperstone right now, however, their 24/7 service is excellent. I have lots of questions and they answer all of them. It is very clear that they help me to understand. The great first impression so far.
Elijah BartonAug 20 2020
Their spread is lower than the other brokers. They close your position with no warning at all. It was a sell order and they close it way above my SL for no reason, all in an open market. Their customer service is so so. Think twice if you want to invest in Pepperstone.
Tom LucindaAug 20 2020
I have a pleasant experience with Pepperstone since have a live trading account. I made the account after more than a year building confidence over the demo account. I would like to see their Webinar based on the Ctrader platform. Looking forward to more content there since I'm not really used to MT4 or MT5.
Bennett SkylarAug 20 2020
So, I planned to trade temporarily with Pepperstone. Their platform is OK, but other brokers have better spreads. Their support is not terrible and pretty average. Also, I read some reviews and news about their data security. Apparently, their 3rd party leaks Pepperstone client's data. Data is very crucial for business these days, but to have a problem like this surely made me be aware of their circumstance.
Callum OlsonAug 20 2020
Pepperstone is a good broker that offers a great platform base for all of its users. The support is okay tho.
Puff HedgetonAug 20 2020
Their live support is amazing. I've been contacting them couple times since before I opened an account until now. They replied fast and answered all my questions. Pretty happy with the great experience.
Shayla KumarAug 20 2020
Recently, I had an issue with the logging process to my account on MT5. But the customer service assists me until the issue is sorted. Now it's resolved and I'm very happy.
John NeymarAug 20 2020
Excellent support and help. Thank you very much. They have the fastest system to approve the process. I recommend this broker.
JanikaAug 20 2020
Hello there, I had a great experience with broker Pepperstone. It's been a while with them. Their customer support is amazing. Even with someone with broken English like me, they still help me through the process.
Pam YohanneJul 27 2020
I've tried the Pepperstone Broker. I have tried to compare it through demo accounts among all existing brokers.
I think this ECN broker has the thinnest spread. But what prevented me from opening a real account was the language barrier.
I'm worried if there are certain complaints where I have to complain, whereas the Live chat service can only be in English. English is not my first language.
EzharJul 27 2020
What I like from Pepperstone, the trading technology is very modern, and the razor account for ecn trading is really raw spread, not manipulated
JoahnJul 27 2020
It's been a few years using this broker there are no obstacles. Just a small language barrier, can be helped right with google translate or something like that.
Razor ECN account is quite good, withdrawal to local bank is quite satisfying, 2 working days already liquid. so far quite satisfied with this broker
Davinne AtmarJul 27 2020
Between IC Markets and Pepperstone competing in terms of spreads. A minimum deposit of $ 200. And the winner is IC Markets broker Australia with the smallest spread in the world
Khaerul AnsharApr 9 2021
Yutian HaoSep 8 2020
I wonder how I got so many phone call after registering woth FXCM. Seems like they are selling customer personal details. Beware guys.
Valentino YangSep 7 2020
They never accept my account and when I ask for my deposit back was completely ignored had to file a dispute with my bank. Stay away scammer brokerage.
WhiplashSep 7 2020
First, the price is far, very far from the real price and that's making everything false. Also, this broker is very very slow when it comes to support. They're only good when it comes to deposit funds and after that you get no support.
Jeremy SullivanSep 4 2020
Decent broker, decent trade platform, had some service issues with them and would rate them as an average company.
Bernard LSep 4 2020
No issues with withdrawals and fast execution. I like the mobile app.
Willhelm CollinsSep 4 2020
I'm not a fan of FXCM demo account. They almost don't have support on the desk session. Many times they are overloaded so I must wait like around 20 minutes to get answered.
Fitez ClavenchSep 4 2020
FXCM spreads are not really that interesting, but I always have my money when I request a withdrawal. Tahye are dependable and seems to be the best broker out there.
Daniel ArledgeSep 4 2020
Overall FXCM are worth using. But their website interface need to be updgraded. Also their spread could be have better offer.
SashaSep 4 2020
They are actually a decent broker. But extra fees are too much for small traders and will take away your profit.
Ben JosephSep 4 2020
I've been an active traders since 5 years ago and not long until I joined FXCM. I have the different experience since I got email from them that my account had been terminated without reason. This is the worst example on how you treat your customer.
DaveySep 4 2020
No complaints about this broker. Does what it says on the tin. Spreads are decent.
ZycloneSep 4 2020
Excellent broker. I've never had problems withdrawing funds, everything works very well with its original Marketscope 2.0 platform, it's super complete and very efficient. They don't have limitation for pending orders too.
tc333Sep 4 2020
I have traded with FXCM for a long time and although there have been a few issues, overall they have been good. I have traded almost every day in that time. But recently when I placed a trade on the NZD/JPY at the price that was displaying on the FXCM trading station platform, I noticed nothing happened and it went into pending. I then check ed the charts to see that the price was vastly different to that which the trading station was reading, something like an 80 pip difference, I tried several times to cancel the trade whilst it was pending, but the system would not do that. I was really disappointed with the way they handle my complain. I have recommended 6 others to the company over the years as I have always trusted them, but the way they dealt with this issue was really poor.
Basem4115Sep 4 2020
I do respect all the opinions about this company even the negative ones, but in fact my experience was and still very good with them. My first account was in 2011 (UK Branch) and since then I leave for year or more and come back to the same company many times with ease. I lost money many time but it was my fault and lack of experience. I even recommended this broker to many friends of mine and no one faced any difficulties to withdrawal or even close their accounts. I wish all of you good trading and thanx FXCM.
Annie BonnieSep 4 2020
I have made a deposit of $1000 when my usable margin dropped to 50% in order to avoid margin call by credit card. Normally it will appear in my account immediately due to FXCM website. However, this time it has never come. When I contacted FXCM customer support, they informed me that the new system will take few hours to 1 day for the fund to come, which hasn't been informed on the website nor email.
BMTradersSep 2 2020
My account is still locked since my first deposit, nobody replies my emails, I want my money back.
ClaraSep 1 2020
This company is as bad as its sound. I lost more than 40K with them and they never refund me. Don't deposit or trade there you'll loose big time.
MS AsadAug 29 2020
Good spreads withdrawl little delayed though, But got an apology call for the same so it is ok.
Eric SAug 25 2020
Bad broker and has terrible trading conditions. Stay away everybody is staying away from them here in the USA.
Rachmidah WandaAug 23 2020
Hi i trade with fxcm close to 1 year now ! everything good ! one thing i don't like with fxcm is withdrawal time take between 2 days and 5 days that just to much !
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