Platform VS. Spread | Forex Factory

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Platform VS. Spread

  • Poll

  • Platform VS. Spread
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  • #1
  • First Post: Aug 29, 2007 8:31am Aug 29, 2007 8:31am
Would you prefer to have tighter spreads from your broker, or a platform that you are comfortable with? Take a vote on which one you feel is more important to you, and then write down a few words on why.

Thanks.
MM
  • #2
  • Aug 29, 2007 10:03am Aug 29, 2007 10:03am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Spreads are essential part of MM whereas platforms are supplementary although important too.

I rather give the former priority over the latter because even with a shoddy platform, I could still win but wide spreads kill my profits too.

Just an opinion...

"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #3
  • Aug 29, 2007 10:17am Aug 29, 2007 10:17am
Quoting CWH
Spreads are essential part of MM whereas platforms are supplementary although important too.

I rather give the former priority over the latter because even with a shoddy platform, I could still win but wide spreads kill my profits too.

Just an opinion...

CWH,

Thanks for the feedback. A quick one for you... your trading style? Is it more of swing trade or day trade scalping?

I put platform because I'm a daytrader... I need to be quick on the response times. The platform is key. The irony is that I also need super tight spreads as well. I love the whole ECN scene going on, but their platforms are hideous. I've demoed MB a bunch of times (scalping GBP/JPY @ 3 pips a contract), I love the tight spreads... but the their platform is too bulky.

My theory is that the longer term traders will be more open to B-grade platforms... because split second agility is a non-issue.
  • #4
  • Aug 29, 2007 1:19pm Aug 29, 2007 1:19pm
Hey All,

I voted for spread, mainly due to the fact I am a scalper, and day trader, trading anywhere from 3 - 10 standard lots....and the spread is vital, though not at the expense of execution.
Dukascopy and Oanda are my spotFx choices, and RCG is my Futures broker of choice.

I do, however, trade longer term, ie carry trades......when the "time" is right, and for that I prefer FXCM for the competitive rolls, and I will give up a pip or so for that. Plus I find the Platform very easy to use. I do not scalp with FXCM.....EVER.

Now if FXCM were to get "Oanda type" spreads.........

Good Luck all
Proper Prior Planning Prevents Piss Poor Performance
  • #5
  • Aug 29, 2007 2:20pm Aug 29, 2007 2:20pm
I have oddly had a better experience with FXCM spreads recently than with Oanda. FXCM seems to have lowered their spreads even more and I spoke to a trading buddy, who trades much bigger volume than I do, and they offered him an even better deal because of his size. For those of you who can afford to trade bigger numbers it might be a good idea to ask them about it. I'm sure it pays off.
  • #6
  • Last Post: Aug 30, 2007 9:19am Aug 30, 2007 9:19am
Quoting ForexTraderMan
I have oddly had a better experience with FXCM spreads recently than with Oanda. FXCM seems to have lowered their spreads even more and I spoke to a trading buddy, who trades much bigger volume than I do, and they offered him an even better deal because of his size. For those of you who can afford to trade bigger numbers it might be a good idea to ask them about it. I'm sure it pays off.
Thx for the info....
Which pairs were you getting better spreads? I know for a while there Oanada had incresed spreads with the recent volatility. Unfortunately, I was not on FXCM's platform to notice or compare the difference.

take care
Proper Prior Planning Prevents Piss Poor Performance
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