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Chris Cammack is Head of Content at the FxScouts Group and is responsible for ensuring our content across all sites meets the exacting standards of quality and clarity that our readers expect; this includes shaping our editorial guidelines to fit the ever-changing world of online Forex trading and ensuring all broker reviews adhere to our strict review process.
Chris joined the company in 2019 after 10 years’ experience in research, editorial and design for political and financial publications. This background has given him a deep knowledge of international financial markets and the geo-politics that affects them. With a keen eye for editing and a voracious appetite for financial and political current affairs, Chris bring a publisher’s sense of precision and accuracy to all the content we produce. Chris has been trading Forex since 2012 and has a preference for the GBP/USD and the cTrader platform.
He also hosts the weekly podcast Let’s Talk Forex alongside Alison Heyerdahl, covering topics such as technical analysis, fundamental analysis, and trading psychology. His written work on macro-economics, the Forex industry and other factors affecting Forex trading and traders are frequently published in industry news outlets as well as traditional media.
Chris Cammack December 3, 2019 01:37 PM
Octa is a good low-cost broker, with a few drawbacks. On the one hand, it has very low trading costs, charges no fees for deposits and withdrawals, and has a great copy trading service. On the other hand, Octa onboards Malaysian traders through its Comoros Union-based entity, which has few regulatory protections, and the range of instruments available to trade is slightly limited compared to other brokers, with 52 Forex pairs, 5 commodities, 10 indices, 150 equities, and 34 cryptocurrencies. If you can look past these issues, you will find an excellent low-cost broker: Three swap-free accounts with minimum deposits of 25 USD, a slick mobile app, and a good range of trading tools. Octa also heavily promotes its wide range of bonuses, and it can offer leverage of 1:1000 on Forex pairs. Finally, the website is fully translated into Bahasa Melayu, and Octa always runs competitions and promotions for Malaysian clients.
Chris Cammack December 3, 2019 01:37 PM
A global binary options broker, IQ Option appeals to beginners with its unique bespoke social trading platform, low minimum deposits, and excellent trading conditions. However, IQ option's non-trading fees are high, and its global entity is unregulated. IQ Option's proprietary social trading platform is very popular among new traders. The platform is very easy to use, provides various sentiment indicators, and allows social trading via a feature labelled Community Live Deal. It also features a large chart with a wide selection of trading tools typically not found on other binary trading platforms, including Moving Averages, Bollinger Bands, MACD, and RSI. IQ Option offers one live commission-free account with competitive spreads (starting at 0.7 pips on the EUR/USD) and a minimum deposit of only 10 USD, making it accessible to beginner traders. However, while deposits are free, IQ Option charges unreasonably high withdrawal fees and an inactivity fee of 10 EUR (or equivalent) per month after 90 days of inactivity. IQ Option's global entity is registered in Saint Vincent and the Grenadines (SVG FSA). The SVG FSA is not considered a forex broker regulator and applies no supervision of any CFD trading-related activities, but IQ Option provides traders with negative balance protection. IQ Option provides little market research or educational materials, forcing traders to self-educate elsewhere.
Chris Cammack December 3, 2019 01:37 PM
IKOFX, also known as IKO Global Limited, is an STP broker registered in Vanuatu, but which is not regulated. Offering support for its own proprietary platform, and MT5, minimum deposits start at [fxs-broker-property identifier="deposit"] USD. While it offers three different account options, the benefits are not well-defined, and spreads are much wider than other brokers, starting at 2.0 pips. Furthermore, its educational and market analysis materials are lacking, making it a poor choice for beginner traders. Customer service is also unresponsive, and not available in Malay. One benefit for Malaysian traders is that it offers Islamic swap-free accounts.
Chris Cammack December 3, 2019 01:37 PM
FXCM may appeal to high-volume traders who appreciate a wide platform choice and an extensive suite of advanced trading tools. However, its fixed leverage, high trading costs, high currency conversion fees, and high interest rates on accounts that go into a negative balance may deter some traders. A well-regulated broker, FXCM offers an average number of financial instruments compared to other brokers, including Forex, commodities, indices, share CFDs, and cryptocurrencies. FXCM's single account has a minimum deposit of 50 USD and average spreads of [fxs-broker-property identifier="eur_usd_spread_smallest_account"]pips (EUR/USD), which is wider than other brokers. Clients with a notional trading volume of more than 10 million USD per month are eligible for rebates, dedicated customer support, free VPS services, and free access to multiple APIs. FXCM 's range of trading platforms includes MT4, various advanced specialty platforms, and FXCM's award-winning proprietary platform, Trading Station. It also offers numerous trading tools, including various API tools, TradingView, Zulutrade, and a host of FXCM apps.
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