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Trend 82.14 1/31 NY
Reversal 82.45 1/31 NY

Affiliated Brokers(FCM)

One of the Larget FCMs in US
FXCM groups' net asset is more than 120 million dollars. They have a wide variety of products such as multi base-currency accounts or MT4 platform.

Gain Pro account offers you the narrowest spreads as little as 1 pip on major pairs.  You can even enjoy
2.5 pips on GBPJPY and 1 pip on GBPUSD.   

One of online broking pioneers
MG group is one of the oldest FX brokers in the US.  Their platform is stable and it can be accessed by cellular phones.  They accept the funding by Paypal.

Trade on the Wild Movements
ACM offers the narrowest spreads as low as 2 pips on majors.  ACM is also famous for its superior execution (WYCIWYG).  They say they are obtaining a banking license by the end of 2009.

1-2 pips on Majors
MIG is famous for its tight spreads.  Our affiliated consultant Office Mkataoka in Nagano, Japan will assist you in opening accounts with MIG.  They are in the process of becoming a Swiss bank within 2009.



Regarding FXwiz (Forex Wizard, Inc)

  1. How is FXwiz  making money even if they do not charge fees to the customers?

  2. What is going to happen if FXwiz gone bankrupted?

Regarding the support of FXwiz

  1. I need the translation of the trading agreement......

  2. Can FXwiz help me by phone calls?

  3. I cannot trade because of internet problem.  Can FXwiz help me?

Regarding the platforms

  1. What is FCM?

  2. Is it necessity to contact with FXwiz?

  3. I am afraid that the trading condition might change in case of  opening account via FXwiz.....

Regarding trading conditions

  1. Why is the risk higher on higher leverage?

  2. What is the spreads of interbank trading?

  3. What is 'slippage'?










Regarding FXwiz (Forex Wizard, Inc)


1. How is FXwiz making money even if they do no change fees to the customers?


(Answer) We do charge fees on FCMs even though we do not charge fees to our customers.  Most of the FCMs are happy to pay us some rebates based on the volume of trading by the customers. 



2.What is going to happen if FXwiz gone bankrupted?


(Answer) As we are not FCM, we do not touch the fund of the customers.  Even though the clients are registered as the clients of Forex Wizard Inc, we have no right to touch the customers' funds.  Therefore, we cannot process any withdrawal or transfer.  Even if we are bankrupted, the customers' funds are sage with FCMs as long as FCMs are safe.




Regarding the support of FXwiz


1.I need the translation of the trading agreement.....


(Answer) We do not translate the trading agreement.   However, we do explain the points  which our clients dont understand and we do translate the account opening materials such as the proof of present address.




2.Can FXwiz help me by phone calls?


(Answer) We support our customers by E-mails or by online-chat because of the following reasons:

  1. We never solicit customers by phone calls.

  2. It is easier to understand the points of arguments by E-mails than by phone calls

  3. It is easier to keep record of communication by E-mails.




3.I cannot trade because of internet problem.  Can you help me?


(Answer) You have to deal directly with the trading desk in case of emergency as we are not allowed to quote prices or to handle the orders  So as not to be in trouble in such a case, please do the followings:

  • To keep records of dealing desk telephone numbers

  •    Basic Skills of Trading in English:  Basics of Phone Trading

  • If possible, please keep accounts with more than 2 brokers

  • If possible, please keep connected with more than 2 internet service providers



Regarding the Platforms


1.What is FCM?


(Answwer) Futures Commission Merchant.  It is essential that a FCM is properly registered with NFA and that it is keeping its good standing.



2.Is it necessary to keep contract with FXwiz?


(Answer) Trading contracts are done between FCMs and their customers.  We don't usually contract with the customers as we don't touch the customers' funds.  We don't charge fees on our services.



3.I am afraid that trading conditions might change in case of opening an account via FXwiz....


(Answer) No.  Trading conditions will stay same as opening accounts directly with FCMs.  We have made clear with FCMs on this point and we occasionally monitor that this promise is fairly observed by FCMs.




Regarding Trading Conditions


1.Why is the risk higher on higher leverage?


(Answer) Higher leverage deals with larger capital exposure to the price movements.

Therefore, only a small movement could eliminate the customers investment easily.  It is always important to know that a certain movement of price results in XXX profit/loss.




2.What is the spreads of interbank FX?


(Anser) Usually, most of the majors are quoted 1-2 pips.   Therefore, a lot of competitive FXMs are quoting almost same prices as interbank.




3.What is 'slippage'


(Answer) It is the difference of stop loss order and its execution.  Some of the brokers are guarantying zero slippage, while others are not.   Although the zero slippage brokers are better than others in regards to ' slippage', we believe that a fair execution should be done with some slippage judging from the market condition.  Therefore, it is not wise to stick to this point only when deciding the best broker.




      Notes & Disclaimers

  • The products and services discussed in this website are not solicited to US customers.
    ウェブサイト で紹介されている商品やサービスは、米国顧客を対象としたものではありません

  • Broker is compensated by the spread between buy/sell prices.

  • Leverage increases both potential gains and losses.

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