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Loosing patience

  • Post #1
  • Quote
  • First Post: Apr 30, 2006 2:15pm Apr 30, 2006 2:15pm
Hi all. I'm new to the board. I'm getting kind of fed up with FXCM and would appreciate if you guys could please list better/your favs brokers. I used to really like them, but I'm tired of missing the spikes just because they decide to freeze up.

Thanks much
Quoting awcmon
Hi all. I'm new to the board. I'm getting kind of fed up with FXCM and would appreciate if you guys could please list better/your favs brokers. I used to really like them, but I'm tired of missing the spikes just because they decide to freeze up.

Thanks much

are you refering to a demo platform ... I understand they are less realiable than real money .... I use FXCM and have not had a problem ...
No - i'm on the live platform and in the beginning it was fine. but in the last month or so, there have been non stop freezing up and getting booted. then today i just found out they're going to start opening at 2:15 instead of 2:00 on sundays. I'd just like to expand my choices of brokers.

Has anyone heard of or have experience with FXDD?
Quoting awcmon
No - i'm on the live platform and in the beginning it was fine. but in the last month or so, there have been non stop freezing up and getting booted. then today i just found out they're going to start opening at 2:15 instead of 2:00 on sundays. I'd just like to expand my choices of brokers.

Has anyone heard of or have experience with FXDD?

-----------------------------------------------------

I have Demo account with FXDD, and so far so good. I was talking with broker from Man Financial about my future account, and he said they recommend fxdd for forex trading, it sounds strong and reputable company (but again, Refco was even bigger), they also mention they don't trade againt you. If any body with live account can give us a feed back about their experience, that would be great. Thanks
Issam
Try a ECN broker dude.


Here is something I found on goforex. (I use and love Oanda, but opening a ECN soon)

http://i2.tinypic.com/wv78rd.png
Quoting avlasov
Try a ECN broker dude.
If your operating with <$10k look at oanda. >$10k an ecn is what you want.

Both will allow you to effectivly trade the news.
Besides coesFX, what other companies are "ECN"?
Thanks all for this information. Wow - i didn't know fxcm was that far down. i am interested in fxdd. i tried to download it onto my desktop but it failed to load. i'm definitely going to try it again tonight.

just one question: how does a broker "trade against you"? I've seen people mention this on several different posts but i can't imagine how it is possible.

thanks again.
Quoting awcmon
Thanks all for this information. Wow - i didn't know fxcm was that far down. i am interested in fxdd. i tried to download it onto my desktop but it failed to load. i'm definitely going to try it again tonight.

just one question: how does a broker "trade against you"? I've seen people mention this on several different posts but i can't imagine how it is possible.

thanks again.
From what I get, they do stop running. Like you have put your stop loss, so when the market is illiquid and very less volumes, they try to spike the price to your stop loss point.

What is ECN broker?
Quote
Besides coesFX, what other companies are "ECN"?

Forex Brokers (ECN type models)

 

  2. CoesFx
  3. Hotspot FX
  4. Interactive Brokers
  5. MB Trading

Quote
What is ECN broker?


Unique brokers, that have an ECN where they get quotes from a number of sources. they dont trade against you either. execution, excellent. reliability, excellent. give them a try, you wont be disapointed.
Thank you merlin, for the great forum and all.

In other words, its sort of like trading Futures markets in the Spot world. Thats the way I like to describe it.
Quoting awcmon
Thanks all for this information. Wow - i didn't know fxcm was that far down. i am interested in fxdd. i tried to download it onto my desktop but it failed to load. i'm definitely going to try it again tonight.
I also had problems loading the fxDD platform, but then i tried their version of metatrader and that worked fine. If you do load MT4, i'm pretty sure the time zone is GMT +3 .. which strikes me as rather odd.. but good to know nevertheless!

Also i have heard that fxDD does not charge for wire transfers in or out.. anyone confirm this? i don't have a live account yet myself and can not find the information on their website.

thanks!

-nd
Quoting awcmon
Thanks all for this information. Wow - i didn't know fxcm was that far down. i am interested in fxdd. i tried to download it onto my desktop but it failed to load. i'm definitely going to try it again tonight.

just one question: how does a broker "trade against you"? I've seen people mention this on several different posts but i can't imagine how it is possible.

thanks again.

For every buyer, there must be a seller or you don't get filled.

Most Brkrs {not ECN} take the other side of all their clients trades.
In other words. If you are Long EUR/USD, then the Brker is Short EUR/USD on the other side of your trade.
Coincidentally, If I am Short EUR/USD, then the Brker is Long EUR/USD on the other side of my trade.

So, the brker can tell whether he is Net Long or Net Short EUR/USD and may be tempted to Run the Stops in his favour. Remember that the brker is the Market Maker and it is he who decides where the bid and ask are.
does Oanda trade against us?
JOHN 3:16
because fxcm support to fund via Credit card online !
Quoting adam3000
because fxcm support to fund via Credit card online !
FXCM is just fine for swing and position trading.

However
just from past experience, I would Not do FXCM with my Day Trading/ Mid Scalping




Alex from Philly
avlasov, which broker do you use to day trade?
  • Post #18
  • Quote
  • Last Post: May 1, 2006 10:29pm May 1, 2006 10:29pm
Quoting peas
avlasov, which broker do you use to day trade?
Hi Peas,
Now I use Oanda.

However, I am moving to ECN type brokers like MB Trading.
You can find more info on ECN brokers from my post History.


MOST IMPORTANT


Its YOU, the system YOU have. Dont blame the Brokers. Brokers play a way smaller role in trading when compared to what you bring to the table.
Many failed traders like to blame the brokers...
-BS- All I have to say.
You never hear good traders blaming the Brokers.



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