Good day ladies & gentlemen,
I am a novice in the Forex market, and I set up my mind into opening a real account, and I'm asking for your help – to whom should I lose my money?
Just joking, it's just that I am very aware to the fact that this learning experience will cost me a good fee.
My preferences are:
1. No IB's, I want to trade directly to the broker (limiting the dealing desks that may deal against me). Moreover precedence will be given for ECN's. I have something against market maker brokers…
2. Trading via web using MetaTrader4 (for my indicators and EA).
3. Working 24/7 (So no local firms, if you please), with FAST executions – working on the 15M time frame means that I need a fast automatic broker. It's a small plus if the broker has an office in my time zone (GMT+2).
4. <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1lace w:st="on">Lot</st1lace> and minimum trade size – I want to open a mini account, a micro account will be even better. So the smaller the better.
5. Accept "overnight" (rollover) trading (I usually work on the 15M & 4H time frames, the latter tend to slip towards the next day).
6. Steady quotes. I don't want those fast fluctuations of the quote (aka slippage) that "happens" with some brokers without any correlation to the market, mainly if they catch my SL.
7. Commissions, minimum deposit, margin requirement and spreads – the lower the better. Need I explain?
8. Trading those pairs: USD, GBP, EUR, CHF, JPY, AUD, and CAD.
9. I'd prefer to have a regulated broker, and that my money will be insured from obvious reasons.
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Do you think I got it all? What did I miss?
Please specify in your replay:
- Name of broker.
- WHY did you pick him? Which criteria does he match (I’ll probably won't find the perfect broker, but I'll settle for the best there is.).
Thank you in anticipation,