Need your inputs with: migFX, FiboGroup

I am looking for a 3rd broker and need your inputs with the following:

I need your inputs with migFX and FiboGroup.

I am slightly favoring migFX for their better swaps and tigher spreads. Opening an account may be a little "tedious".. I have tried contacting fibo some 2-3 weeks ago and THEY havent replied to my email..

My primary purpose is two folds:
1) carry trades
2) news trading - which implies good execution and no slippage, acceptable widened spread during news

I appreciate all your inputs... thanks!

I'm with fibogroup as a second broker and am satisfied with them for what I need them to do. Yes, e-mail responses take ages, or not at all if you not a customer yet (yes, strange attitude) and the live help desk is most of the time not available. But when you have an account, all ur questions are answered.

I would not recommend them at all for news trading. During high volatility they just disable trading at times, and slippage can be huge. But since I use them for longer time-frame trading I have no problem with that.

A big plus for Fibo is their server never seems to go down, at least, I never had it happen in the six months I use them.

Hope it's of any help,
Sulz

BurgerKing, both brokers are dealing desk brokers. Neither one will suffice to trade the news releases. Spread widening is common during news releases that move the market because many liquidity providers and banks pull their prices and reduce their size. There is no such thing as "acceptable widened spread" during news releases.

Your best bet is to use an ECN-type broker or a multi-liquidity provider option such as Currenex or HotSpotFxi.

Get a demo with EFX Group, the only non-dealing desk broker in FF's "Preferred Brokers" section. They have an ECN model, so the price reaction to news in their platform will be "cleaner" and more natural during news time. Request a demo first and notice what happens during news releases and especially during NFP.

Take care.

Burgerking

I have an account with MIG, they are pretty good except when trading during news time just like any other broker. The best thing I like about them, they have an online chat to ask questions immediately instead of sending an email and waiting for a response which you may not get a response. There are other brokers which have online chat that is not as good as MIG since their response takes awhile.

Again, forget using retail brokers to trade the news. You have to go direct to the banks using something like Currenex or an ECN-type broker like EFX. Even when you do it that way, the news environment is much more difficult to trade because of the decreased liquidity and chaos around that time. Don't waste your time with regular brokers to trade news.