Spreads and Commissions - Forex Broker Testimonials

Buckle up, folks, 'cause I've got a wild tale about FirewoodFX and their so-called "professional/zero accounts." Brace yourself, it's a total rollercoaster of a scammy adventure! And here's the kicker – you can't just switch back to the standard account because their spreads are like three times bigger than those other brokers out there. It's like they're playing hide-and-seek with your hard-earned cash!

But here's the real kicker – they've got this sneaky habit of overcharging on commissions and then acting all innocent about it. I mean, really, it's like they're running a game of poker and bluffing their way to the bank. So, unless they get their act together and sort out these issues, I'd say steer clear, my friends. It's a classic example of what can go wrong when you're dealing with foreign brokers. It's like they missed the memo on life values, and instead, they're living in Scamville. Call centers? Yeah, that's their jam. But let's face it, nobody wants to dance to that tune!

I wanted to close my account today. But for some reason, I had difficulty withdrawing the last of my funds. Meanwhile I'd like to warn people so that they won't be another victim. Fx Optimax is a total scam, don't fall for those fake reviews. They mess up trades, re-quote all the time, and hit you with crazy spreads

I can't believe how wide their spread becomes, especially on indices. Sure, the market's volatility may play some role in this case. But, even then, it is still way too big that it's supposed to be. It also seems difficult to place orders and stop near the current price. I am not sure if they have rules regarding this. But do enlight me if anyone knows about it. I tried to ask customer service these questions, but they aren't answering anything about it. It's seriously frustrating. They only send me codes but never do anything about it.

Really bad slippage! I wonder if they actually have a Limit Order or not. I have seen these happen to quite a lot of people these days, so I guess they don't. Best hope you don't make an order with more liquidity than is available in the market as for scalpers this broker is horrendous.

The commission fees are enormous, especially on their Raw Spread Account. Damn, it only started on 0.0 pips at the beginning only. The rest? we'll who knows? Just chalked it up to the market's volatility. Always the volatility.

Anyway, I haven't contacted their customer service about this yet. I pretty much give up and decided to switch brokers although I haven't found a good one. This has seriously given me trust issues.

I trade with their MT4 trading platforms and somehow the spreads keep getting changed.

EVERY

SINGLE

TIME

I didn't realize it at first, and I just chalk it up as a result of volatility. Out of curiosity, I trade the same amount on the same pair at another broker. The result was different. How is this even possible?

what I really hate from IC Markets is the price slippage. Unfortunately, it happens all the time! Recently it also happened when I was trading XAUUSD as well as BTC/USD. It didn't stop there! Oh, no, sir, it gets worse! They d it from the chart after a period of time!! I talk to customer service who claim they didn't know anything. I don't care, I just want them to do something. Which makes me go 'Karen' on them and I understand if they don't appreciate it. But that was a lot of money we're talking about.

After using this broker for a while I realize that there is huge slippage which is affecting all my trades. This is getting worse for me since I am using an expert advisor. Sometimes the position of the price opening will is wrong and the closing price will be wrong, in this case I mean that both are not the same as I requested. This has caused so many issues regarding my trading and I ended up losing a lot.

Another issue I experience is the spread. I trade with them because IC Markets said that they have low spread trading yadda yadda. But, in reality, I often experience a bigger spread than what it promised in the beginning. The differences sometimes reach more than 5 dollars. This has made some of my winning trades hit the stop loss. I don't know if this is a technical error or not, but the fact that it happened a lot has made me doubt it. I even have trust issues now because of it.

I thought they would be a great and honest broker, but in the end, they're just like the rest of them. Really let me down with empty promises. Sure, the spread is pretty tight I guess, but they have ridiculous slippages. It racks up my trading cost higher than it actually is. That is not the worse, I suspect that they also moving money within their platform- they will grab some through off-market exchange rates. Also, their customer service is unbelievably arrogant. They really don't care about you at all or your problem for that matter. They will happily take your deposit but took so long to do a withdrawal. Unbelieveable.

I think their market depth is worst than any other broker I've tried before, especially for indices. One of the most recent examples is when I'm trying to trade US30 and I realized that the price regularly fills 2 whole points higher than the quoted price. Their depth of market shows they only have single-digit lots at the quoted price. Although it's true that they are consistently keeping tight spreads for a smaller lot, if you are trading over 10 lots, it will feel more pricey. The slippages are also really bad in my opinion, most brokers easily fill 100 lots around quoted price with less slippage. Slippage for large lots is normal but 2 whole points slippage is unheard of for 100 lots in normal trading non-news times.

I was trading with IC Market until before I got Covid, I decided to stop due to poor health. So I decided to return since I have gotten so much better now, I opened a new account again just two months ago. But, I am surprised by how much they change. The trading for spreads is continually changing and being altered, more so than any other broker, and trying to get your money out will be a nightmare now from what I usually experienced.