Forex Dealers v Spreadbetting

[Slorm]

I'm looking at some point at trying my hand at FX (I mostly trade equities and spreadbet indices at present), so sorry if this is a real noob question.

I've read various reviews and some real horror stories about FX dealers, so was wondering if there is any real advantage in using a FX firm rather than simply spreadbetting currencies, particularly as the spreads offered do not seem to be very different (I was using FXCM and Capital Spreads as a rough comparison).

 

[TheBramble]

What horror stories have you read about Oanda?

You're better off doing all your dealing through firms recognised for their service and quality.

Which means avoiding firms for which you read constant streams of negative comment.

Check out the t2w members' awards for 2006 for recommendations.

http://www.trade2win.com/boards/showthread.php?t=22959

 

[Lightning McQueen]

A good reason to go with the fx broker over SB is the availability of smaller bet size, which is a good way to go for us beginners.

http://www.trade2win.com/boards/showthread.php?t=25540

Also the trading platforms that come with fx are I believe far superior eg metatrader 4

"Use it at no cost for as long as you like" free practice accounts.

low Minimum deposit - £100 or less.

API auto trading.

If anyone's contemplating trading fx, no contest is it.

Lightning

 

[jacinto]

there are different websites that allow you to compare fx brokers.

cant post them on public, but send me a pm and i will reply with it

 

[Slorm]

Many thanks for your replies everyone, I really appreciate you all taking the time to answer.

 

[bootsyjam]

Just wanted to ask-are profits capital gains free from these brokers, or are they treated like cfd's and fully liable??