Help to find the right Broker

Hello everybody.

I'm new to Forex, have been trading a live mini account with Forex.com for about 4 months. The problem is that this broker forces me to execute 10 mini trades a month or I will loose my charting package e-signal.
I have losed some money lately and have desided to trade on my demo account for a while, but now Forex.com is forcing me to execute these trades, or I will lose me chartig package.

The charts that they offer within the trading software is not that good. I realy need the e-signal or a better or similar program.

Does anybody have any good experience with some brokers that don't force you to trade like this. I'm really interested in good charting packages, to me that is no. 1 to become a good trader and understand the market.

Hope there is somebody that can help me.

Thanks,

Some advice from another beginner..

Take a look at metatrader4 ( also called MT4). There is a whole section in the forums on this site for brokers based on this software. Metatrader is very easy to use and has built in charting. Also, several brokers are discussed that use it, although most are dealing desks. Also, take a peek at the "Broker Discussion" portion of the forums, read all the sticky posts on the different types of brokers. You won't find anyone touting one broker over another ( I believe Merlin frowns on that and its against the rules ) but you will learn what to look for for the style of trading you are doing.

Good luck, and perhaps one of the more experienced traders here will post a followup to this.

Hey, I have been trading with forex.com for some time now, and your right, the charting package (if you can call it that) that they have with the FOREXtrader software is pretty much useless. On the other hand they do offer the eSignal package that is pretty good, and you'll find a lot of great reviews for it. But yes, they do require you to trade a certain amount to keep it, which is rediculous to me. I have tried it, and really couldn't find the need to trade that much, unless i wanted to give them some free $$ lol. (but this is personal preference of course) I opted out of that offer, well i just didn't trade that much, but i was already using Meta Trader 4, which is a great program, as Pidgeon has mentioned.

So i still use forex.com as my broker, but use metaTrader as my charting package, it works great. Also you have the option, when you get into using different servers, to see indexes, and gold etc.

Aside from that, of course others may disagree with me, but comparibly, eSignal did't offer too much to really wow me. I actually rather use MetaTrader.
p.s. No you can't change the "time" format.

hopefully this helps a little

Good luck, and Good Trading!

Thanks for your reply. I have downloaded MT4, seems like a good program when you learn how to use it. Is it possible to log into your forex.com account using MT4? or are you using MT4 as a demo account from another broker? I can see that there is many brokers that uses MT$, but if it's possible I would like to keep my existing account at forex.com.

Hope you can give me some more info.

Hey there, yes it is a great program, once you get through the basics, you can get on to making your own indicators! ..real nice feature.

As far as being able to use forex.com through MT4, which is what i think your asking, im pretty sure you can. I don't, i just use MT4 as demo, and forex.com to place orders. It's nice that way, because you can then use the MT4 to demo trade as you live trade (live trading only when your ready!).

Money tec made a deal with forex.com, i read that somewhere. So the quotes you will get using the MoneyTec server are exatly the same as forex.coms live and demo quotes. But i will point out a problem that i've noticed using the moneytec server, some of the charts have some problems on them that cause scaling problems, NZD/USD and USD/CDN, but which can be remedied with the "chart fix" option. Also, another problem on that server which doesn't happen too much, but more often than not is with missing data.

The NZD chart is missing a heck of a lot before this year, could be isolated, i don't know. Some others as well..There is a list of servers which you can find here, just use the search function, and youll find which suits you best. Another thing to remember is that different servers use different time zones, so keep that in mind when choosing a server.

To get around those problems with the server you can:

A: use bigger time frames, and use the "chart fix" option. (but this won't give you the data, just help the scaling problems)

B: use a different server

I use the metaQuotes server which seems to have all the missing data which the moneytec server doesn't have. This works for me.
EDIT: the Metaquotes server quotes are a pip off of the forex.com quotes, doesn't create a problem though.

lol well before you get confused..ill leave you with this

Hope it helps!

Good luck, and Good trading.