Fast Brokers Review
FastBrokers, a subsidiary of Fast Trading Services, LLC, offers simultaneous trading on multiple Forex ECN feeds streaming on a single trading platform through its proprietary ECN2 technology. By developing ECN2 (available on their proprietary platform PathFinder Trader™) FastBrokers gives to its clients tight spreads, ECN style execution, and the opportunity to choose which liquidity provider is offering the better conditions - before placing a trade. PathFinder Trader™ is also a professional trading tool which includes Level 2 (Depth of Market), a professional Charting package, one-click trading from multiple locations including trading from the Charts, and automated trading and back-testing through its own scripting language (PathScript).
FastBrokers is an Independent Introducing Broker Registered with the CFTC and member of the NFA since 2005. FastBrokers partnered with some of the most competitive liquidity providers and NDD based execution brokerages to offer its clients a fair environment where to trade currencies, as well as the opportunity to design custom liquidity landscapes based on each trader unique need. For these unique reasons, FastBrokers is able to accommodate any trading style, from News to High Frequency trading, as well as grey and black box execution.
By becoming a client of FastBrokers, traders will have access to several benefits deriving from the multiple relationships the brokerage maintains while trading on a professional and exclusive forex platform. Being a large operation compared to other IBs, as well as devloping, owning and deploying its technology, makes FastBrokers a very attractive setup both for traders and FCMs/RFEDs, and providing to its client a strong offer and a highly competitive setup in terms of spreads and execution.
Overall, FastBrokers is a highly reputable and respected broker. Customer service is highly professional and is backed by leading edge trading technology that ensures the fastest execution and most transparent order routing in the business (they only deal with NDD, ECN and DMA connections through well known trading platforms such as Currenex®, Integral®, Fortex®, Stonex giving traders direct access to prices posted by banks and other liquidity providers).
Full segregation of client funds from company operating capital is also offered.
Subjective Ratings
| Charting: |  |
 This is our subjective view on how good the package is in this broker platform. For brokers offering multiple trading platforms, we rate the best one. |
| Execution: |  |
From our experience trading a real account, this is how we rate this broker's order execution. Brokers with guaranteed fills get a boost in rating. |
| User-friendliness: | |
How user-friendly is the trading platform? For brokers offering multiple trading platforms, we rate best one. |
| Customer support: | |
How good a company's client support manage questions and problems is a very important aspect of their overall performance as a business. For this rating we consider the hours of operation, the different modes of contact (such as call back service, live chat, toll-free numbers etc.) as well as the staff's patience, eagerness to help, and most importantly, knowledge. |
| Transaction costs (spreads): |  |
Since different brokers offer different currency pairs with different spreads, variable or fixed, commission or commission-free trading etc., the idea of judging transactions costs overall becomes somewhat subjective. This is where we try to capture the broker's overall willingness to keep your trading costs low. |
| Rollover interest rates: | |
Again, since each broker has their own way to calculate overnight interest rate, or swap for each currency, it is not feasible to have an objective, quantitative way to judge their swap rates. The issue is further complicated because some brokers decide to offer swap-free accounts, some with extra fees added, some not, some for Islamic traders only, and some for the general public. This rating attempts to roll all of that into one. |
| Withdrawal processing: | |
One of the often-overlooked aspects of a brokers business is how quickly, efficiently, and inexpensively they process your withdrawals. For this rating we take into account the time it took us to get our withdrawals processed, the fees that were charged for those withdrawals (if any), any problems we encountered during the process, as well as the number of withdrawal methods available (such as PayPal, Moneybookers, etc.) |
| Platform Functionality: | |
Different platforms have very different levels of complexity. In general, more complex trading platforms give the user more flexibility in their trading, but involve a longer learning curve for new users to get accustomed to their idiosyncrasies. This rating measures the ability of the trading platform to complete complex tasks, most importantly in order management and reporting. For brokers offering multiple platforms, we rate the best one. |
| Platform Reliability: | |
One of the most annoying (and costly) complaints traders have about their brokers is that the trading platform crashes at the most crucial times. This rating attempts to get a handle on how the trading platform performs in terms of stability and reliability. Is the platform always available? Does it crash or freeze? How often? For brokers offering multiple platforms, we rate the best one. |
| Average rating: | |
The arithmetic mean of all the above ratings, rounded to the nearest half-star. |
Business Details
| Broker Headquarters: | Glendale, California, USA | The geographical location of the broker's headquarters. |
|||||||||||||||||
| Regulated By: | NFA (ID#: 0342002) CFTC Registered |
Which regulating body, if any, is responsible for regulating this broker? |
|||||||||||||||||
| Client Account Segregation: | Yes (some restrictions apply) | Some brokers choose on their own and others are required by regulators to keep client funds separate from the company's operating capital. This gives clients an extra layer of security in case the broker becomes insolvent and needs to go into bankruptcy. It should be noted that segregation does NOT constitute absolute safety of client funds in case of bankruptcy, but is a significant step nonetheless. |
|||||||||||||||||
| Collect Taxes on Earnings: | No | Does this broker report client earnings to any tax authorities? If so, which ones? |
|||||||||||||||||
| Accept US traders?: |  |
Some brokers, either due to government regulation, or due to their own risk management policies, choose to prohibit clients from the United States. |
|||||||||||||||||
| Main liquidity providers: | Currenex®, Integral®, Fortex®, Stonex | Most brokers are somewhat secretive about this aspect of their business, but those who aren't certainly provide their clients with a valuable piece of information. The more liquidity that is available, the better order execution clients can expect. Knowing the institutions which provide this liquidity can also offer a glimpse into which currency pairs have sufficiently deep liquidity for your needs. |
|||||||||||||||||
| Also has offices in: | None | A list of other places, besides the headquarters, where the broker has offices. |
|||||||||||||||||
| Registered Business Name: | Fast Trading Services LLC | The name of the parent company of the broker, if any, or the business name under which the broker operates. |
|||||||||||||||||
| In business since year: | 2004 | When was the business established? This is a measure of trustworthiness. If a business has been around for a long time, it is less likely to scam you or disappear overnight. |
|||||||||||||||||
| Deposit/Withdrawal methods: | What methods are available to deposit and withdraw money to and from your trading account? |
||||||||||||||||||
|
|||||||||||||||||||
Trading Conditions
Risk Disclosure: There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.
* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.
| << GFT Forex Review | IKON Royal Review >> |
