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Broker for newstrading?

  • #1
  • First Post: Dec 21, 2006 6:58am Dec 21, 2006 6:58am
I got two major questions for you guys:

1. Which broker is good for newstrading (good fills,...)

2. Do you know anything about the broker "dukascopy" (please only people who actually trade with live account)

Thanks for Your Attention
  • #2
  • Dec 21, 2006 7:44am Dec 21, 2006 7:44am
Custos, check FX Engines: http://www.fxengines.com/

I'm currently with them on several "engines" (news trading strategies pre-programmed by them). These do not perform too well meanwhile, but the reaction time during the news looks impressive. You can trade yourself using their platform, the final broker is FXCM. Search this forum, there were several good opinions of FX Engines.
sans peur et sans reproche
  • #3
  • Dec 21, 2006 9:52pm Dec 21, 2006 9:52pm
whats the spread (if any) on your broker?


-ForexcrAnIuM

HAPPY HOLIDAYS
  • #4
  • Dec 22, 2006 2:37am Dec 22, 2006 2:37am
I am currentyl using MBTrading as my broker with 0-1 pip spread but a turn around commission of 10$ per 100.000$ lot. But the problem is, that they don't fill me during newstimes, so I want to switch to one which is better than them. Any suggestions?
  • #5
  • Dec 22, 2006 2:48am Dec 22, 2006 2:48am
Quoting Custos
I am currentyl using MBTrading as my broker with 0-1 pip spread but a turn around commission of 10$ per 100.000$ lot. But the problem is, that they don't fill me during newstimes, so I want to switch to one which is better than them. Any suggestions?
are you looking for ecn broker or market maker?
If I Go Broke Trying Then I Will die happy.
  • #6
  • Dec 22, 2006 12:15pm Dec 22, 2006 12:15pm
whats the difference between the two?
  • #7
  • Dec 22, 2006 3:03pm Dec 22, 2006 3:03pm
Quoting Custos
I got two major questions for you guys:

1. Which broker is good for newstrading (good fills,...)

2. Do you know anything about the broker "dukascopy" (please only people who actually trade with live account)

Thanks for Your Attention
If you're looking for a broker to screw over during trades then any number of retail market makers that offer limit orders are available. IF you want to trade the proper mkt then go to an professional ecn like currenex/lava/hotspot/baxter or fx futures. Good luck getting fills on them though ... you will most likley be too slow.
  • #8
  • Dec 23, 2006 2:35am Dec 23, 2006 2:35am
Thanks a lot.
I am now trying hotspot fx and currenex and hope I can get better fills.
  • #9
  • Dec 23, 2006 4:31am Dec 23, 2006 4:31am
Quoting Custos
Thanks a lot.
I am now trying hotspot fx and currenex and hope I can get better fills.
Hotspot liquidity is quite poor round news and you'll find that spreads will go wide and stay wide for at least 60 seconds. Apart from fx futures, cnx has the fastest price updates on all the spot fx ecns so even if you're using one of those autoclick services you will most likley not get filled on limit orders (unless way off mkt) or get slipped on your mkt orders. You can take my advice or you can try do it yourself and learn from your mistakes ... happy trading
  • #10
  • Dec 23, 2006 3:15pm Dec 23, 2006 3:15pm
I totally agree with you. I used a currenex platform to enter mkt orders by autoclick and always got slipped. In addition to speed there is a problem of liquidity.

Quoting sccz97
cnx has the fastest price updates on all the spot fx ecns so even if you're using one of those autoclick services you will most likley not get filled on limit orders (unless way off mkt) or get slipped on your mkt orders. You can take my advice or you can try do it yourself and learn from your mistakes ... happy trading
  • #11
  • Last Post: Dec 23, 2006 5:31pm Dec 23, 2006 5:31pm
Quoting jon167
I totally agree with you. I used a currenex platform to enter mkt orders by autoclick and always got slipped. In addition to speed there is a problem of liquidity.
it'll take time but eventually most of the newstraders here who try and straddle or get in before the move will realise that they just arent fast enough to trade in the wholesale mkt. The only reason they are having limited success on the retail side is that the market makers have a slow quote and their systems werent designed to be taken advantage of in this way. Wrt liquidity, I have to disagree, throughout the day depending on your broker there is usually 100m+ available on eur$ on a spread of 1, when it's choice you can get up to 20m.
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