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I do not have any experience with this broker. If you have used them, please kindly submit your review above.
Peter, Germany
Rating:
Date of Post:
2008-06-26
Review:
This is an excellent company. I give them five stars for overall. I have done over 1000 trades with them since I opened my account and have only seen good fills. Many times I put orders in with 10th of a pip and almost always I see a price improvement. I generally don't need to call them much anymore but in the beginning I needed help and the customer service was very nice. The charts are just ok. I think they can be improved on but they do the job. Very impressed overall.
West Coast Pips, Vancouver, BC
Rating:
Date of Post:
2008-01-07
Review:
Early November 2007 I opened an account with Forex One AG or Trade Monster out of Switzerland (www.forexone.ch/). I had very good service prior to opening a live account with them and felt based on the responses for my many questions, this would be a good platform to trade with.
Opening an account with these guys is arduous to say the least as you need to fill in an 8 page application form and them mail it off together with certified ID!
I opened an account with $10,000 US as the minimum to fund them is $8,000. Soon after I opened an account with them I was able to make my first successful trade with Trade Monster using SNW. This was for AUD retail sales back in November 2007. However, all successive trades using SNW were locked down as they did not want me trading the news. I tried about 7 more times with no luck. I was sent email messages warning me to be 'careful' trading the news. I decided I had enough of Trade Monster and closed my account early December 2007 requesting full funds back. Upon opening an account you give them your full banking details. Money was supposed to have been wired back on Dec 5, 2007. A few days later I was curious why there were no funds in my account.
I contacted them about this over and over again the week beginning Dec 10, 2007. They got back to me Dec 12 saying funds were only wired Dec 12, 2007 because they had 'issues transferring funds to Canada.' Believing them, though rather frustrated, I waited a few more days. No money by the end of this week. I called them so many times over the phone. Dec 19, 2007 came and they said funds were rejected and were 'immediately' sent out the same day.
This was going to screw my Christmas up asI was hoping to get the funds before the holiday season. Nothing came and by now I knew they were really messing with me. I called again and again the week of Dec 31 as no money was still in my account. Jan 4, 2008 came along and I blasted them over the phone. I had to call 10 times that day and got one email back saying funds were 'definitely wired today (Jan 4, 2008).' Money finally came in my account a few hours later, though had it not been for my tenacity, I am sure I would be out of over $10,000.
My advice is STAY AWAY from this shady broker. I contacted Polyreg in Switzerland who regulate some of the Swiss forex brokers and they want a full report from me so they can conduct an audit on Forex One!
2007-12-07 1 Star Hi Guys, I had a live account with Trade Monster, otherwise known as Forex One AG. Very good, polite service. No online chat and based in Switzerland. Hard to navigate around their website as it is in German. They want English on there, though have not gotten around to it yet.
Application process is tedious to say the least. All Swiss brokers seem to have this copious procedure for opening an account. With these guys you need to send in an 8 page application together with certified ID!! The latter is a pain.
Uses MT4 platform. Spreads are very low which is great. If you are a news trader like me, forget opening an account with them. Whilst they are an STP broker, they will lock you down completely after you make ONLY ONE successful news trade. I was able to get 17 pips profit on AUD Retail Sales last week. That was it though and every time I used SNW to fire buy or sells, it said 'invalid parameters.' Great if you are not a news trader though, though remember the application process even still!!!
Foersner, Bavaria
Rating:
Date of Post:
2007-12-10
Review:
A very good independent swiss forex broker with strong service an very good fix spreads.
chess, turkey
Rating:
Date of Post:
2007-09-30
Review:
hi Felix. this revision is better i think. regards.
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i can only say they are the best broker i traded so far. credits go to both odls as being the broker and trademonster for providing very competitive 2 pips spread 24 hours for all majors.(7 currencies total including eurchf,eurgbp,eurjpy.)
no stop hunting, no requoting. execution time is as low as ping time and it is always like that.no freezing problem. mt4 is available.
although they provide 2 pips bid/ask quotation values and moves, prices are in accordance with the ecn brokers i compared. they provide just one more pips and had seen no manipulative spikes yet.(for example mig used to be 3 or 4 pips more(or less) than ecn brokers during volatile-reversal times. so mig were trying to to make 4-5 pips profit during entering and another 4-5 pips during closing.)
i dont trade news. and they dont ever go against you if you are in a profitable position. their english support is sufficient and u can find people caring your needs.
since i have not encountered any single unfair issue i regard them with the highest 5 star. i hope and feel that they will be same in future.
Frank Hoffmann, Germany
Rating:
Date of Post:
2007-09-02
Review:
My experience is very positiv with this platform. 2 Pips on all majors, one of the fastest platforms I know. Fast order execution, and all other functions are easy to manage and done in seconds. No slippage, very good chart-program. I very much recommand this broker.
Forex Trader, Austria
Rating:
Date of Post:
2007-06-01
Review:
I do have a problem with a broker who closes your account from one day to the other, without any warning before what I should change on my trading style. Therefore 1 Star. Otherwise I would give them a better rating. You can be sure that they close your account if you trade on news soon or later, no mather which style. For traders who do not trade news it might be a good choice. Once again - the method how they treat you if they don't want you is the thing.
JoeCool, Switzerland
Rating:
Date of Post:
2006-11-23
Review:
TM (ODL) introduced a new platform just 2 months ago - they now allow independent positions (you can be long AND short in the same pair, or have multiple positions open etc) Execution is good, never seen a hunting for stops - prices are a bit flattened out (no spikes) compared to market data shown on eSignal, but accurate. spread is fixed 2 pip on the majors. Being a Introducting broker only, the Trademonster guys are not of a help if you have real feedback/issues with the platform - address them directly to ODL. Platform Order placing (all type of orders, Stops etc) works with a 10 pip "corridor" which is a pain as you cannot set any price lower than 10 pips to the actual. No automated trailing stops. So far so good - 4 Stars
Wolfgang,
Rating:
Date of Post:
2006-08-19
Review:
trademonster is ok due to the 2 pip spread on 7 mayor currency pairs (EUR/USD, EUR/JPY, EUR/CHF, USD/JPY, USD/CHF, USD/GBP, EUR/GBP). An introducing broker for ODL securities in london but the charting you can forget it,s not a good one (http://www.netdania.com/ChartApplet.asp). In august the are maybe changing the trading platform to a newer one so maybe there a more automatic features to come. Some errors are still there but much better as the other forex brokers. Hopefully we the new centrally cleard marketplace at CME accepts retail custumers also when they start in 2007, this would be the best solution for more transparent competition on the fx spot market place (http://today.reuters.com/news/articlebusiness.aspx?type=bankingFinancial&storyID=nL04618550&pageNumber=0&imageid=&cap=&sz=13&WTModLoc=BizArt-C1-ArticlePage2 )
Torsten, Germany
Rating:
Date of Post:
2006-04-02
Review:
I use tm first for demo and then also as real account. They offer 2 pips spread on 7 major currently pairs with no slippage, that's the good part, but the chart-tool is the part you can forget. Account size is between min. 5000 and max. 50000 eu limited, so if you have a small pocket or are a big player you must look for another broker. But if you can use an outside chart-tool and live without trailing-stops you can take the 2 pips spread and save a lot of money.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all
investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in
foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you
should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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Spam Notice. To secure your privacy FPA mailing list is maintained and all emails to FPA members are sent through AWeber Communications, Inc. with world stringent Zero Spam Tolerance policy. One click unsubscribe option is included in every email.