This week I opened a live account with Tadawulfx, an Islamic Forex Broker from Cyprus. I know about this forex broker from Carigold forum, when I was searching for a recommended forex broker. Before this I want to open my live account with FxOpen, but one of my friend did not encourage it.
Tadawulfx is in business since 2006. I believe with its good customer support and good management Tadawulfx can be well established soon. The reason of choosing this broker is because of its fixed spread offer, hedging and scalping allowed, expert advisor also allowed, deposit with credit card and PayPal, good customer support and some other reasons.
They respond to my email very fast and give me a phone call when I did not understand their staff’s explanation via chat client, but FxOpen did not respond to my email and do not accept credit card and PayPal. I don’t said that FxOpen is not good, but Tadawulfx offers is more attractive to me. However its smallest lot is O.5 for its standard account. I wish they can lower it down to smaller one, or offer a micro account soon. I am still newbie in forex trading, and I should be very careful to open position due its 0.5 lot. If they have micro account with 0.01 or 0.1 then it will be good for newbie like me.
Anyway, TDFX is a Swiss forex leader in Middle East, filed for the Cyprus Securities and Exchange Commission also known as Cysec. You can know more from its website here. Hope this is a good broker I choose.