...or FXCM or other?
So I've narrowed down my broker choices to MBTrading and Oanda, but after re-looking into FXCM, they may be back on the table. I'm in the US and will be predominantly scalping. I need help choosing between them; one thing i'm not too sure on is slippage of each, so any input on that would be great. Here are my thoughts from what I've read:
Oanda: Low spreads, sounds like execution is on par, customer service is decent though could be better. I've read their charting platforms are lacking, either going with mt4 or their other platform that crashes a lot. Good deposit/withdrawl options and they do allow you to withdraw. However, they are a market maker, though they sound to be transparent, trustworthy and not doing shady maneuvers. Very popular. They also drastically widen spreads on news, though for now I'm not going to trade the news though it wouldn't be bad to have as an option.
MBTrading: Low spreads, comparable to Oanda, excellent execution and customer service. NDD ECN(ish). They don't widen their spreads as much as oanda during news. alright deposit/withdrawl, but may cost more $ than oanda (unsure currently). They sound trustworthy. Not as many people use them as Oanda or FXCM and I do not know how this affects liquidity and slippage, particularly if I manage to somehow grow my account very large. Any comments to this?
FXCM: Back on the table, mostly because it seems (and I may be calculating this wrong) that when adding their commision to their spread, the "total spread" is still a little less than the other two. Also Jason (on these forums) seems like a really good, knowlegeable resource. kudos! I have heard of problems with it though such as large slippages, stops not hitting, customer support problems, etc, but I also realize that this may mostly be in the past and it may have become much better (comments?). Also FXCM is the largest US broker by volume, which I'm not sure if that affects trading at all but if it does it will be a positive effect.
Any opinions? IF you want to suggest a different broker, go for it, but please back it up with what is good/bad about it.
Thanks for any and all help,
Shortyski13
So I've narrowed down my broker choices to MBTrading and Oanda, but after re-looking into FXCM, they may be back on the table. I'm in the US and will be predominantly scalping. I need help choosing between them; one thing i'm not too sure on is slippage of each, so any input on that would be great. Here are my thoughts from what I've read:
Oanda: Low spreads, sounds like execution is on par, customer service is decent though could be better. I've read their charting platforms are lacking, either going with mt4 or their other platform that crashes a lot. Good deposit/withdrawl options and they do allow you to withdraw. However, they are a market maker, though they sound to be transparent, trustworthy and not doing shady maneuvers. Very popular. They also drastically widen spreads on news, though for now I'm not going to trade the news though it wouldn't be bad to have as an option.
MBTrading: Low spreads, comparable to Oanda, excellent execution and customer service. NDD ECN(ish). They don't widen their spreads as much as oanda during news. alright deposit/withdrawl, but may cost more $ than oanda (unsure currently). They sound trustworthy. Not as many people use them as Oanda or FXCM and I do not know how this affects liquidity and slippage, particularly if I manage to somehow grow my account very large. Any comments to this?
FXCM: Back on the table, mostly because it seems (and I may be calculating this wrong) that when adding their commision to their spread, the "total spread" is still a little less than the other two. Also Jason (on these forums) seems like a really good, knowlegeable resource. kudos! I have heard of problems with it though such as large slippages, stops not hitting, customer support problems, etc, but I also realize that this may mostly be in the past and it may have become much better (comments?). Also FXCM is the largest US broker by volume, which I'm not sure if that affects trading at all but if it does it will be a positive effect.
Any opinions? IF you want to suggest a different broker, go for it, but please back it up with what is good/bad about it.
Thanks for any and all help,
Shortyski13