Who's you favourite for live MT4 broker? | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Who is your favourite trading author? (books) 30 replies

What is your favourite basic indicator??? 43 replies

What is your favourite EA? 2 replies

What is your favourite Fx Report & Analysis provider? 2 replies

favourite currency (100 pips per day) 21 replies

Attachments: Who's you favourite for live MT4 broker?
Exit Attachments

Who's you favourite for live MT4 broker?

  • #21
  • Nov 20, 2006 5:55pm Nov 20, 2006 5:55pm
Can you be specific about the foudner's history?

Quoting stockwet
Honestly, I'm not really happy with any of them. I've tried IBFX, FXDD, CFG Trader and CoesFX all on a live account. CoesFX was, by far, the best of the bunch. But, the company is too unstable for me to ever trust my money with them again. I'm thinking that most MT4 brokers are best when trading higher time frames.


I've heard some interesting things about FXLQ, but, the founder has quite a history with the CFTC and NFA, which, makes me nervous.
  • #22
  • Nov 20, 2006 6:27pm Nov 20, 2006 6:27pm
http://www.nfa.futures.org/basicnet/...tityid=0196740

Just check out Robert Gray's history with International Precious Metals and Multivest Options.

Quoting BenQ
Can you be specific about the foudner's history?
  • #23
  • Nov 21, 2006 3:39am Nov 21, 2006 3:39am
Quoting Moe
... got a call from the f.b.i asking him was he ok thay wanted to make sure he wasn't being force to withdraw this money he has no tax problems and had no history of this kind of withdrawl that's the reason they was checking ...
I didn't realise that they were so concerned about a person's well being. Nice to see them looking out for their own citizens.
Just my 2 pips worth
  • #24
  • Nov 21, 2006 3:47am Nov 21, 2006 3:47am
Quoting stockwet
http://www.nfa.futures.org/basicnet/...tityid=0196740

Just check out Robert Gray's history with International Precious Metals and Multivest Options.
Interesting stuff ... but who knows, maybe he has turned over a new leaf ... or was the scape goat for somebody's else action ... but then again you sometimes wonder how these people keep their head above the water?
Just my 2 pips worth
  • #25
  • Nov 21, 2006 7:10am Nov 21, 2006 7:10am
Quoting saltcafe
I didn't realise that they were so concerned about a person's well being. Nice to see them looking out for their own citizens.
its a diffrent ballgame once you become rich/millionaire.
If I Go Broke Trying Then I Will die happy.
  • #26
  • Nov 21, 2006 7:12am Nov 21, 2006 7:12am
DF
If I Go Broke Trying Then I Will die happy.
  • #27
  • Nov 21, 2006 8:07am Nov 21, 2006 8:07am
VelocityFX.com?

Anyone tried them yet? I believe they are housed in the Chicago CME building.
Capital Preservation is key to long term wealth accumulation
  • #28
  • Nov 21, 2006 9:54am Nov 21, 2006 9:54am
I stopped scalping but still 3 pips is alot of money compared to futures. It's a bigger obstacle than anyone is aware of and or admit. It's only a matter of time until casino boys realized this is a way to make a legal biz online without calling "gambling."
  • #29
  • Nov 22, 2006 3:42am Nov 22, 2006 3:42am
Quoting torero
I stopped scalping but still 3 pips is alot of money compared to futures. It's a bigger obstacle than anyone is aware of and or admit. It's only a matter of time until casino boys realized this is a way to make a legal biz online without calling "gambling."
I guess there is the REAL FX market where the big boys play and the spreads are nearly non-existant and then there is the RETAIL FX where they eye-gouge you everytime you make a trade because you have no other choice.

What is the usual spread on the future contracts that you are referring to?

I remeber a couple of years ago, while working at a major bank, they used to quote without spread for the big boys. Even back then they felt the market was that competative that they simply had no other choice if they wanted to have the turnover, so their two-ways quotes were identical in price. Mind you that was fo 10 dollar lots or more.
Just my 2 pips worth
  • #30
  • Nov 22, 2006 3:52am Nov 22, 2006 3:52am
Quoting saltcafe
I guess there is the REAL FX market where the big boys play and the spreads are nearly non-existant and then there is the RETAIL FX where they eye-gouge you everytime you make a trade because you have no other choice.

What is the usual spread on the future contracts that you are referring to?

I remeber a couple of years ago, while working at a major bank, they used to quote without spread for the big boys. Even back then they felt the market was that competative that they simply had no other choice if they wanted to have the turnover, so their two-ways quotes were identical in price. Mind you that was fo 10 dollar lots or more.
In futures during fast markets (fed news etc) you get about 2 ticks or pips, in normal conditions, 1 tick spread pretty for EC (CME equivalent of EURUSD). Not sure about other CME futures. Best is you don't get lockups and you're trading the market, not your broker so best bid/ask out there is what you're hoping to get in with.

I've come back to forex only because of the spread is narrowing and the mini-size lots. I get 1 pip spread on EURUSD and USDJPY and 2 on others. Just have to look around, they do have them. The ballgame is changing indeed.
  • #31
  • Nov 22, 2006 5:17am Nov 22, 2006 5:17am
Migfx requotes like crazy even when the market is slow. From what I understand, they have switched data feed providiers a few months back, and it has not been good.

IBFX is not so great another, system crashes too many times when the market moves.

While we're on the subject, is there any broker out there with tight spreads, and allows one to execute orders immediately during news time?
  • #32
  • Nov 22, 2006 9:20am Nov 22, 2006 9:20am
Quoting torero
I've come back to forex only because of the spread is narrowing and the mini-size lots. I get 1 pip spread on EURUSD and USDJPY and 2 on others. Just have to look around, they do have them. The ballgame is changing indeed.
Is this an MT4 broker? running an EA? or other manual?
Just my 2 pips worth
  • #33
  • Nov 22, 2006 2:59pm Nov 22, 2006 2:59pm
Quoting saltcafe
Is this an MT4 broker? running an EA? or other manual?
Not a chance. I've spoken with them and they say MT4 are for fixed spreaders and not for them. Not sure what that means but if one of these non-fixed spreaders decide to join in integrating with MT4, watch out! Guess who'll be shutting down shops and who'll be shuffling to change?! I'll be the first to sign up. It's just a matter of time.

From what I'm hearing, if all the broker that are on MT4 and their feed is unreliable, would automating MT4 strats be any help at all? May look good on demo accts but if you imagine the blackouts, etc. Anyone aware of this difference real and demo in auto strats?
  • #34
  • Nov 23, 2006 5:22am Nov 23, 2006 5:22am
Quoting torero
Not a chance. I've spoken with them and they say MT4 are for fixed spreaders and not for them. Not sure what that means but if one of these non-fixed spreaders decide to join in integrating with MT4, watch out! Guess who'll be shutting down shops and who'll be shuffling to change?! I'll be the first to sign up. It's just a matter of time.

From what I'm hearing, if all the broker that are on MT4 and their feed is unreliable, would automating MT4 strats be any help at all? May look good on demo accts but if you imagine the blackouts, etc. Anyone aware of this difference real and demo in auto strats?
Hmmm ... maybe this is a bad example, but FXDD has supposedly a non-dealing desk with varying spreads for manual trading and also an MT4 for automated trading with (most likelly) fixed spreads.

It sounds strange as to why a broker would imply that MT4 platform must have fixed spreads?

Any objection to mentioning the broker name concerned?
Just my 2 pips worth
  • #35
  • Edited 9:07pm Nov 23, 2006 6:56am | Edited 9:07pm
Quoting saltcafe
Hmmm ... maybe this is a bad example, but FXDD has supposedly a non-dealing desk with varying spreads for manual trading and also an MT4 for automated trading with (most likelly) fixed spreads.

It sounds strange as to why a broker would imply that MT4 platform must have fixed spreads?

Any objection to mentioning the broker name concerned?
Email i got from fxdd.

Dear Sir,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>

To answer your questions, here's a brief history. We started out with an STP model exclusively. As our customer base grew, we attracted many more mini accounts as well as larger customers who sought to execute sizeable block trades. Both of these groups could not efficiently deal with a strictly STP model. In the case of the minis, they must be allowed to accumulate to an amount (min. 100K) that we can pass on to the bank. In the case of larger trades greater than 50 lots, the order would often pass from STP to the banks' RFQ mode, often resulting in some latency. So we evolved into our present model - part STP and part accumulation model where we manage some of the risk. There is one very important point that sets us apart from some of the others, and I think you know to whom I refer: <o></o>

<o></o>

With our platform, you will not hear of problems with re-quotes or trades hanging up (as they are routed to a dealing desk), or platforms freezing just before economic numbers, or spiking of the market, or any litany of other common complaints endemic to the industry. For non-STP trades, those trades are all automatically executed in our back end at the price quoted, unless there is a simultaneous price change by the bank market maker that we are using for that pair, at that moment. This happens rarely, but can happen - that is the market. Only after the price is executed does the deal hit our trader's blotter- all of whom have a minimum 20 years experience as bank traders or brokers - and we choose at that post-trade time whether to immediately offset the trade, or to stay with it. From the customer's point of view, his trade is done quickly and seamlessly, at the market with no dealer or bank intervention. Our prices are a true refection of the interbank market, and you can check this yourself by comparing our charts and other platforms to the interbank market's. I will tell you straight up that we do not play the games that some others do. We have no interest in that, and sitting here in Tradition's dealing room with 280 brokers over 26 other lines of business and 7,000 institutional customers, we are held to the same high standards of our parent company. You can choose to accept my word on that or not. The proof comes in testing us out. We are not perfect, we are still growing and always learning and adapting. You will not see our name on too many flashy banners, as most of our customers tend to find us, rather than the other way around.<o></o>

<o></o>

Thank you.<o></o>

<o></o>

Regards,<o></o>
If I Go Broke Trying Then I Will die happy.
  • #36
  • Nov 23, 2006 9:57am Nov 23, 2006 9:57am
Moe, when will FXDD plan to have spot market bid/ask non-fix spread platform? As I mentioned I'd the first to trade with this platform on MT4.
  • #37
  • Nov 23, 2006 10:16am Nov 23, 2006 10:16am
Quoting saltcafe
Question is quite simple ... I wanted for a while now to open up a couple of accounts with some MT4 brokers. Have been doing some demo testing but I think that it's time to jump in with some real money.

So, who is your favourite broker? for live trading of course!

Maybe, I'll gather a list of brokers that are being used and we can do a poll later?
I have great experience with NorthFinance. Great support, tight spread, good support, offer more then all pairs, plus gold, oil, and more....
Steve
  • #38
  • Edited 9:08pm Nov 23, 2006 10:39am | Edited 9:08pm
Quoting torero
Moe, when will FXDD plan to have spot market bid/ask non-fix spread platform? As I mentioned I'd the first to trade with this platform on MT4.
oh im not with fxdd this is the email they send me when i ask them a few questions about there s.t.p-straight thru process
If I Go Broke Trying Then I Will die happy.
  • #39
  • Nov 23, 2006 7:40pm Nov 23, 2006 7:40pm
This is a reply to the letter Moe received. I did not want to quote the whole thing.

Very rarely will I go out of my way to slam a broker. But, I must say that I had such a miserable experience with FXDD that I would never even consider going back to them again. They have enormous slippage, slow execution, and, yes, outages before and after news announcements. Once, there platform crashed 15 minutes after an NFP report. They were so innundated that they wouldn't even let me speak to someone at their dealing desk to manage my open orders. They failed, on multiple occassions, to honor their "next available tick" rule, which is that your order gets executed on the next tick if there is any slippage. They did absolutely nothing to address the valid concerns I presented to them.

So, when I read a letter to this, all I can do is laugh and say "Buyer beware!"

Quoting Moe
Dear Sir,

....
<hr tabindex="-1" align="center" size="2" width="100%">
  • #40
  • Nov 24, 2006 2:10am Nov 24, 2006 2:10am
someone trading with alpari? they have new offices in UK that are regulated by the FSA.
0 traders viewing now