Tuesday, 8 January 2013

Picking Somewhere to Trade

I have noticed that out there are so many reviews of trading websites that are very biased and don't give a proper reflection of the service on offer. For example, FXEmpire gives UFX Markets a really top review making out that it's some incredibly brilliant service here's the quote from their review: 
 UFXMarkets had been a solid and trustworthy broker to thousands of traders around the world. Because of this, you will find a very sturdy and reliable dealer at this firm. The spreads are tight, and the trading conditions are fair. There are also binary forex options available as well.
This amazing recommendation is again repeated in the reported user reviews which are also all glowing. Is this due to the fact that FXEmpire are a member of UFX Markets affiliate program, I'm guessing its so. It's disappointing to know that big well ranking websites are sending customers brokers that so many people are having real problems with, take a look at the reviews at Forex Peace Army

These reviews are very different and in fact the Forex Peace Army court has ruled three times against UFX Markets and have decided that they are a scam provider. Which is rather shocking considering UFX Markets is a Cysec regulated company. It is also tough for traders to determine what companies are legitimate and which aren't if their are some websites that are willing to promote these spurious at least brokerages.  

So how does one determine what providers to go work with? This is a hard question a good starting ground is probably both Forex Peace Army and also Earn Forex who allow traders to review their sites and do a decent job of working out and flagging spurious or false reviews. But even then it's quite hard to make out what reviews are legit and which aren't it is also difficult to read through a number of poorly written reviews. I've seen a number of sites that offer pretty unbiased CFD Reviews however many of these websites only have a small number of reviews and therefore do not help you when making decisions about many sites.   

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