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A bad broker?

  • #1
  • First Post: Jul 17, 2006 4:25am Jul 17, 2006 4:25am
Hey, this is my first post but I have been reading these forums for about 2 weeks now.


I have been practicing with an oanada trading account for about 3 months now and I feel that I want to go live soon. even though I have been practicing with oanada (I also praciticed with FXCM, and North Finanace and a few others) I am also looking at other potential brokers...

I hear a lot about Bucket Shops or bad brokers etc etc...but considering the times I trade (11PM-7AM EST most of the time), I dont think I have ever experienced these problems with the brokers that people mention.

basically i need help on what to look for in a broker, bad and good.

The ones that have caught my eye for the longest are

Oanada and GFT

Do you know anything bad or good about each?


Basically what should I look for in a broker

Thnx for all the help
Nothing is hard, some things just take more time and discipline.
  • #2
  • Jul 17, 2006 12:22pm Jul 17, 2006 12:22pm
Hi there. Your best bet for broker information would be to use the Search tool. I know that many members around here rate Oanada as being very good.

I did a quick search for you "broker reviews", and this is what I got:

http://www.forexfactory.com/forexfor...earchid=411785

Take a look through those threads, then come back with specific questions.
  • #3
  • Nov 15, 2007 3:14pm Nov 15, 2007 3:14pm
  •  Baldi
  • | Joined Jan 2007 | Status: Reading news and comments... | 77 Posts
Hi!

The link you sent does not work currently. At least I could not open.

I suggest looking for "forexbastards" in the Google. You will surely find some good sites (you could also search "forex broker review"). Some posts on those sites or forums you can trust, some are fake. You will "feel" it when the post is fake.

Good luck,

Baldi
  • #4
  • Nov 16, 2007 12:13am Nov 16, 2007 12:13am
Quoting NipthePips
Hey, this is my first post but I have been reading these forums for about 2 weeks now.


I have been practicing with an oanada trading account for about 3 months now and I feel that I want to go live soon. even though I have been practicing with oanada (I also praciticed with FXCM, and North Finanace and a few others) I am also looking at other potential brokers...

I hear a lot about Bucket Shops or bad brokers etc etc...but considering the times I trade (11PM-7AM EST most of the time), I dont think I have ever experienced these problems with the brokers that people mention.

basically i need help on what to look for in a broker, bad and good.

The ones that have caught my eye for the longest are

Oanada and GFT

Do you know anything bad or good about each?


Basically what should I look for in a broker

Thnx for all the help
I'd stay away from the buckets shops regardless, with the possible excption of Oanda, which some have termed as a high end bucket shop. As for what to look for in a broker, hard for me to suggest anything re. bucket shops, but with ecns, maybe a minimum order says that fits your trading, tight spreads, reasonable commissions, etc. But comparing bucket shops to ecns is night and day, so it's really not even the same discussion.

As for ecns, I have an account with MB Trading, but I'd also consider Hotspot FXi as an alternative. If you are opening with big bucks (generally $25K at least), one of the Currenex providers is also a good bet.

But my advice is to stay away completely from any bucket shop. They are a dying breed, and for good reason...
  • #5
  • Nov 17, 2007 9:42pm Nov 17, 2007 9:42pm
do you think hotspotfxi will take 25k ? as far as i know they want million...
  • #6
  • Nov 18, 2007 12:17am Nov 18, 2007 12:17am
Quoting white_tiger
do you think hotspotfxi will take 25k ? as far as i know they want million...
Oh, my bad. I guess the "i" stands for institutional, but for individuals, min is $7,500. So you're golden with $25K )

http://www.hotspotfx.com/main.jsp
  • #7
  • Last Post: Nov 18, 2007 3:14am Nov 18, 2007 3:14am
the retail is hotspotfxr as far as i know
but the counterparty is hotspotfx itself.
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