Forex Metal tempts people to open accounts with them by providing bonus with no swaps account at the following link,
https://forex-metal.com/discount/discount05. I opened account with them on 13th of May 2010, I traded more than 1,500 lots with them up to 25th of May, but only 300 lots calculated to get the bonus (It was not fair to me). Afterwards they rose up 2 pips for my account without any notice, few days later; they gave me the following email:
Dear Mrs. Mei Ling Chen,
We believe that forex trading is a two-way street: it should be profitable to both parties. We make our money from hedging customers trades through other forex companies or banks. Your trading pattern over the past few days shows that you prefer to hold positions for a short period of time, ripping 5-10 pips profit in most cases. At the same time your friend gets 1 per lot in commission payments. Of course it is your choice how you want to trade, but in such circumstances we cannot keep extra low spreads and make profits from hedging. Besides, our counterpart where we hedge our risks has changed our trading conditions, this prompted us to act.
We are re-assessing the situation and if we can offer you something better, we will. Rest assured that we want to keep our customers happy, but at the same time we cannot put our business at greater risk.
Regards,
Forex-Metal Customer Support 31th/May/2010
I was forced to withdraw my money back; the money not belongs to me alone (two of my friends involve as well). I sent them 100K withdraw request on 25th of May; I shall get the money back at the end of May if Froex- Metal processed it properly. Unfortunately, they made the excuse like: One of our banks has a very strict anti-money laundering procedures for over 25,000 international payments. I asked them to separate into 4 wires, each one 25,000. They sent the first wire 25,000 to me last Friday. Up to now, I have not heard from them regarding the next payments. I still have 75,000 with them. I am suffering a lot from this withdrawal experience with forex-metal. As they are two friends involved and there is no way to contact the payments through the telephone.
I contact with their live chat twice per day. The answers are the same --- Please email to the payments. I am under depression with this withdraw issue. What shall I do if they continually keep me waiting? Shall I report the government department which regulated the forex coms in Panama?

Is Forex-Metal a scam company?
I open an account with them on 13th of May this year. They rose up 2 pips for my account one week ago without any notice. I sent the 100,000usd withdraw request on 25th of May, but the money still in their bank up to now. Do you know this company?

Talk about making a sweeping statement. I have traded using Forex-Metal for half a year and never ecperienced any of the problems with execution you talk about.

I used these guys for my first ever acct. Boy Ive learned alot looking back now. Not good. Executions need to be what....1/4 second at slowest? These guys are a bit over 4 seconds....death to a trader. Especially when if you click to close and your counting your 4 seconds and your pip changes, it makes you start all over again. Pretty bad when your up say 10 pips, and by the time you close a fast mover, your negative 2 or 3 or worse!! Extremely frustrating and a fast way to go broke. Also if your closing and the pip rises (while waiting), and your eyes catch it, good brokers give you the upswing. Not these guys...whatever pip you clicked at 4 seconds ago is what you get!! however see it drop (while waiting) and they give you the dropped figure. Another great way to go broke

I use megadroid and just got the poison robot it only work on back test demo but i let it run till next morning no trade at all megadroid is the same too. I try to use it on alpari it work but the broker got a bad review.

Which EA did you try to use? I currently use fabturboscalper with them
and it works OK for a few weeks already. The FAQ on the site says that
generally all EAs are allowed.

mt4 EA will not work system will crash when EA is on

Forex Metal appears to be an independent broker. There is nothing on their site that would suggest that they partnered with FXDD or anyone else. Anyway, I have used them and quite happy with the service so far. They just annonced last week that the leverage has been increased up to 1:500 which I think is pretty good.

Overall it's a good broker, but they no longer use Pay Pal - it's not convenient.

I've been trading with Forex-Metal for a few months now.They have been very good so far. Good service. Good helpline.
They have free ATM card with $100 cash on it, for new trading account.
Simply the best.

The bad news is that these guys have partnered up with FXDD and they suck big time, but then again there are no perfect brokers out there and we have to take what we get. I have used them and rate them 3 stars, they aren't that bad but nothing special either.

No problems encountered. I do not agree with Stefan that their spread is too high. The spread on EURUSD is only 2 pips.

spread is too high, i know they are market makers but 3 pips on eur/usd is too much and i would recommend another broker, otherwise this company is fine.

Great experience with these guys. I would definitely recommend them to anyone who trades. Many of my friends also trade forex through them and they too are all happy.Fast execution and good customer service, reasonable spread.

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