Forex Brokers for News Trading

I'm posting this to get a general opinion of members here about which are the good forex brokers for news trading. By news trading I mean trading the initial reaction around, before or after news.

Negative posters like - there's no such thing as forex brokers good for news trading, or all brokers are the same, please don't post here.

Yeah I know you can if you want, but please don't. It's hard enough going through your posts with every other topic in this news trading forum.

I really don't understand why stricly technical traders come in here and bash every news trading topic. If you come here to learn a new technique, you're welcome, but please don't waste our time if that's not the case.

So news traders what are the best forex brokers for news trading in your experience?

Ive traded news a few times just playing around really. With my CMS account, lol good luck. FXSol, on the other hand, fills very quickly from my experience, which, like I said, is limited.

Thanks for the reply twinchell. I hope you will keep us up to date.

Use an ECN with limit orders. You will get filled perhaps 1/3 of the time but you can get in with much larger orders than bucket shop MMs will ever let you trade. You will not be requoted either... or get traded against. Nothing is worse than a broker saying "Waiting for desk approval" or some other garbage. Out of all of the MMs I have heard of maybe 3 or 4 that will let you trade the news with. Though you have to play by their rules, which is fair considering others dont let you at all.

If you dont know about ECNs or ECN like brokers a few of them are Interactive Brokers, MB Trading (also EFX), CoesFX, PropFX, HotSpot. I would go and find one that works out for you. The problem I have found with threads like this one is that people will throw all sorts of spam at you even though they have never actually traded LIVE with one of the brokers. They will give you the results of 3 days of demoing and some hearsay about the broker. Dont listen to that. I have personally been testing brokers for months and months and still have not found exactly what I am looking for. Though I doubt I ever will.

If you have the money, 25k or more, I would suggest looking at white labels of Currenex, HSFXi and FXall. There is another thread that discusses these brokers, though not about news trading. I am sure if you asked the questions on that thread you may be able to get some responses.

There is also another thread or two titled about the same as this one is about news trading brokers. I would look at those.

I know there are other threads, I've read most of them and the news trading section. I have a fairly good idea of people's expiriences with different brokers.

But I didn't like the fact that you had to go through 10-20 techies replies (like - oh there's no such thing as a bad broker! - It's all your fault news traders! )before you ever come to a opinion from a news trader.

If people don't stick to the rules on this thread, I'll delete it.

BTW Thanks for your reply! Every opinion by a news trader is very helpfull.

I don't mind if people with demos post their expiriences, the demo can revail some broker problems too. But I would like people to state what kind of account they were using - demo or real.

Good luck with your quest for a better broker!

On a related note, do you think the creation of that Reuters marketplace that suppose to happen in a year will help news traders?

[quote=StockKJay]Use an ECN with limit orders. You will get filled perhaps 1/3 of the time but you can get in with much larger orders than bucket shop MMs will ever let you trade. You will not be requoted either... or get traded against. Nothing is worse than a broker saying "Waiting for desk approval" or some other garbage. Out of all of the MMs I have heard of maybe 3 or 4 that will let you trade the news with. Though you have to play by their rules, which is fair considering others dont let you at all.

There is no evidence beyond the claims of some of the ECN's that they don't trade against you. BTW-what's the difference between not getting filled at an ECN or getting a "waiting for dealer quote" or some such thing? None really.

You have to realize what's going on when you try to buy-you won't be able to buy something until someone wants to sell it! Broker's and ECN's are looking to get a price for you..sometimes they can and sometimes they can't. ECN's like MB have useful stop limit orders, but how are the fills? Are the prices available? If not, what good are they doing you?

Look at what happened with that hedge fund last week. Did you read any of the qoutes from the guy who runs it? He said one of his main problems was not only betting wrong on a market; he also was not able to liquidate his positions...sound familiar? He wanted to sell something and no one wanted to buy...the prices of what he was selling were going down, so selling was more difficult and costly for him.

You are TRADING. You can't trade until you have a PARTNER. Partners are more difficult to find when the markets are VOLITILE. You see a price quote on your platform and you want that price, but in the split second it took you to push the button, the market moved and the price you want is not available. Expect this to happen after news announcements.

The least you should be able to do is to find an honest broker who has an order type that will not lock you into buying (or selling). You should be able to

1. Ask for a price, or a range of prices, e.g a stop limit order
2. Either get that price or be told that it isn't available, without being locked in to having an order filled at any price the broker wants to. That's fair for everyone.

Are you gonna put your car on EBAY if you are going to be forced to sell it for what your customer wants to pay or, not be able to sell it to someone else who wants to pay more? No! The rules of the market do not compell a broker to immediately fill your order. Did you know that a broker can take up to 2 DAYS to do so? (1 on the USD/CAD pair) What do you think a broker or ECN is trying to do when you want to buy? He's either trying to buy what you want from someone else at a better price and sell it to you, or selling what he already has to someone who wants to pay more then you do! Why would he sell you something if he's gonna lose money, or if someone else wants to pay more. He won't! Would you? That's free enterprise, baby! It happens to the biggest traders and it's gonna happen to you to!

we have a thread on this topic already...

http://www.forexfactory.com/forexfor...ead.php?t=6686

im closing this thread, please continue discussion in existing thread.