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Compare Forex Brokers ForexGen And Trading Point Forex


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Subjective Ratings

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ForexGen

Trading Point Forex

Charting: Four and Half star Charting Rating Four and Half star Charting Rating
Execution: Zero Execution Rating Four star Execution Rating
Transaction costs (spreads): Four and Half star Transaction Costs (spreads) Rating Four star Transaction Costs (spreads) Rating
User-friendliness: Four and Half star User-friendliness Rating Four and Half star User-friendliness Rating
Platform Functionality: Four star Platform Functionality Rating Four star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating Four star Platform Reliability Rating
Customer support: Zero Customer Support Rating Four star Customer Support Rating
Rollover interest rates: Zero Rollover interest rates Rating Five star Rollover interest rates Rating
Withdrawal processing: Zero Withdrawal processing Rating Five star Withdrawal processing Rating
Average rating: Two and Half star Average Rating Four and Half star Average Rating

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Business Details

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ForexGen

Trading Point Forex

 
Registered Business Name: ForexGen Trading Point of Financial Instruments
Broker Headquarters: Oslo, Norway Limassol, Cyprus
Also has offices in: none None
Regulated By: Unregulated FSA (UK), Bafin (Germany), FI (Finland), CySEC (Cyprus)
In business since year: 2006 2009
Broker Capital as of 04-2009 Unknown Unknown
Client Account Segregation: No Yes, client funds are segregated from company operating capital.
Collect Taxes on Earnings: No No
Prohibit clients from: Yes No
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Wire Transfer $10 $20
MethodDeposit FeeWithdrawal Fee
Credit Card $0 $0
Liberty Reserve $0 $0
Moneybookers $0 $0
NETeller $0 $0
Wire Transfer $0 $0
Main liquidity providers: Private investors Unknown

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Trading Details

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ForexGen

Trading Point Forex

 
Browser platform: None None
Downloadable platform: ForexGen Metatrader 4 (MT4) Trading Point Metatrader 4 (MT4)
Mobile platform: None No
Phone dealing: No Yes
Order processing: Market Maker All orders routed through dealing desk.
Account Types
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Mini Account 500:1* $250/$2,500 100/limited by margin
Standard Account 100:1* $2,500/unlimited 1,000/5,000,000
Pro Account 100:1* $5,000/unlimited 1,000/5,000,000
No Dealing Account 100:1* $20,000/unlimited 1,000/5,000,000
Premium Account 100:1* $50,000/unlimited 1,000/5,000,000
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Micro 500:1* $1/$3,000 1,000/100,000 units Swap-free (Islamic) optional
Executive 100:1* $100,000/unlimited 100,000/5,000,000 units Swap-free (Islamic) optional
Standard 200:1* $3,000/$100,000 100,000/5,000,000 units Swap-free (Islamic) optional
Swap-free accounts   - All accounts are swap-free   Yes - no extra charges and available to everyone, not just Islamic traders
Tradeable Instruments: 26    58   
No Dealing Desk Execution: No All orders are automatically routed straight through. Dealing desk exists only to deal over the phone.
Typical spread on EUR/USD: 1 pip (0.0001) 1.9 pips (0.00019)
Fixed spreads: No Optional (variable by default, but client can request fixed)
Guaranteed stop losses? No No, all orders are executed at best available price.
Trailing Stops: Client-side Client-side
OCO orders available: No No
If/then orders available: No No
Hedging capability: Yes Yes, traders can hold both long and short positions in the same currency pair at the same time.
Automated Trading: Yes, on MT4 Yes
Trading Hours: Open: Sun 21:00GMT Close: Fri 20:00GMT 00:00 GMT Sunday - 00:00 GMT Friday
Timezone GMT GMT
Scalping allowed: No Yes, all trading methods are accepted.
Account currencies available: USD AUD, CHF, EUR, GBP, JPY, USD
Platform languages: Arabic, Bulgarian, Chinese, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Slovak, Spanish, Traditional Chinese, Turkish Arabic, Bulgarian, Chinese, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Slovak, Spanish, Traditional Chinese, Turkish
Support languages: Arabic, English, Norwegian English, French, Greek, Japanese, Malay, Polish, Russian, Spanish
Demo account: 30 days 30 days
Live chat support: Yes, but not helpful Yes
Interest on Margin: No Yes on unused margin
Promotions & tournaments: 10% of deposit on Mini and Standard Accounts at ForexGen 20% bonus on initial deposit, 10% on all subsequent deposits.

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