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Best broker for news trading

  • #1
  • First Post: Dec 3, 2008 3:14pm Dec 3, 2008 3:14pm
Which broker do you find best for news trading? I know the spreads widen and its hard to get a fill. But i still wanna look into it, any broker you ppl use?
  • #2
  • Dec 3, 2008 4:45pm Dec 3, 2008 4:45pm
Please remove, stupied question
  • #3
  • Edited 7:54pm Dec 3, 2008 7:41pm | Edited 7:54pm
The broker I find the best since I did a lot of research is tradeview Forex, especially if you are looking for a fundamental strategy. I've been told to not get the feed from the same broker I have my MT4 with, because sometimes it can be manipulated, but so far I have to say that for me it has been going really well. And what I find more interesting is faster execution because it has given some pips to me.
  • #4
  • Dec 3, 2008 7:57pm Dec 3, 2008 7:57pm
Tradeview? I’ve heard nothing about it for now I’m looking for a micro account
100 bucks to start only
  • #5
  • Dec 3, 2008 7:57pm Dec 3, 2008 7:57pm
I'm going to agree with you on this one. I'm also working with that broker, what I like the most is the customer service they offer and the alternative platforms they offer. I mean I would also recommend this but you should read more about brokers, so you can find the one that suits more your style.
  • #6
  • Dec 4, 2008 6:30am Dec 4, 2008 6:30am
Tradeview is owned by Ikon so I would think they have the same data feed and conditions, spreads, etc...?
  • #7
  • Dec 4, 2008 6:29pm Dec 4, 2008 6:29pm
I've been working with the Ikon Platinum which is another platform from Tradeview, and it's indeed the same feed and spreads, but there are a few things that vary between them. I find the Ikon platform faster on execution, which is really important to me when it comes along good feed.
  • #8
  • Dec 4, 2008 8:56pm Dec 4, 2008 8:56pm
which are the differences between this two platforms offered by this broker? which of those is more practical? I work over 2 platforms, MT4 and eToro, but never tried this Ikon thing before. Thanx for the help
  • #9
  • Dec 5, 2008 6:10pm Dec 5, 2008 6:10pm
I find Ikon platform more practical and built on a logical manner. Even though I am more used to MT4 when I got to trade with Ikon I found it pretty simple to use. Both platforms are aimed to trade on forex though Ikon has even more pairs to trade and the feed is excellent.
  • #10
  • Dec 5, 2008 6:36pm Dec 5, 2008 6:36pm
The difference is that the Platinum platform is much more elaborated, it has more currency pairs available, the possibility of trading metals, it has the ultimate charting which features historic information way back, the IKON News application is also a great tool to keep up on fundamentals. On the other hand, the MT4 has the MQL4 programming language which makes it a really powerful platform on front of others.
  • #11
  • Dec 6, 2008 5:32pm Dec 6, 2008 5:32pm
I use MigFx for my usuall trading and im happy with them, but no use to try trading news with them. So all i want is an extra account only for news trading
  • #12
  • Dec 9, 2008 11:52am Dec 9, 2008 11:52am
Quoting victor90
I use MigFx for my usuall trading and im happy with them, but no use to try trading news with them. So all i want is an extra account only for news trading
Hey Victor!
I love trading fundamentals!
But so far I haven’t found a proper broker to trade news. I’m with tradeview but I choose them because of the fractional pip-value option which I think very useful in times like these when regular economics do not apply to market conditions. However, this broker does not offer a good online support for news trading. But you can always call or chat with their people and they can help you a lot. My advice it’s to follow your own system and use data from different sources, not only from your broker.
  • #13
  • Dec 9, 2008 5:39pm Dec 9, 2008 5:39pm
Quoting AngelaTrix
Hey Victor!
I love trading fundamentals!
But so far I haven’t found a proper broker to trade news. I’m with tradeview but I choose them because of the fractional pip-value option which I think very useful in times like these when regular economics do not apply to market conditions. However, this broker does not offer a good online support for news trading. But you can always call or chat with their people and they can help you a lot. My advice it’s to follow your own system and use data from different sources, not only from your broker.
Hey angela, it's good to see some people still trade with fundamentals. I also apply fundamentals on my strategy, though is not the main key on my strategy because I rely a bit more on technical analysis. However now that I am trading options, I find fundamental as the foundation of the whole trading options strategy. I'd like to ask you about the platform you are using with tradeview, because on the one I am using right now I am getting pretty good feed and updated fundamental news.
  • #14
  • Dec 9, 2008 6:39pm Dec 9, 2008 6:39pm
Hey T, what platforms do you use to trade options?. I am pretty interested since I received some helpful information about an option on the next year so I would like to invest something on that. I am looking forward to getting your reply.
  • #15
  • Dec 9, 2008 7:37pm Dec 9, 2008 7:37pm
Quoting peterhubble
The difference is that the Platinum platform is much more elaborated, it has more currency pairs available, the possibility of trading metals, it has the ultimate charting which features historic information way back, the IKON News application is also a great tool to keep up on fundamentals. On the other hand, the MT4 has the MQL4 programming language which makes it a really powerful platform on front of others.
In that case Ikon wouldn’t let me apply EA for trading
Though I’m not an expert at MQL4 the idea is to develop auto-trading to make it easier
  • #16
  • Dec 10, 2008 11:37am Dec 10, 2008 11:37am
Quoting T-rexx
Hey angela, it's good to see some people still trade with fundamentals. I also apply fundamentals on my strategy, though is not the main key on my strategy because I rely a bit more on technical analysis. However now that I am trading options, I find fundamental as the foundation of the whole trading options strategy. I'd like to ask you about the platform you are using with tradeview, because on the one I am using right now I am getting pretty good feed and updated fundamental news.
T-Rex

Trading news has become unpopular these days. Traders don’t pay attention but what does fit with themes already priced into exchange rates.
However, I think we must pay attention to fundamental all over the world more than usual as every action in a single country can affect the performance in global markets.

About your question; I’m using the MT4 platform from tradeview. They update their news every day.
I just don’t feel it’s enough for my trading style. I need more info and more sources.

I’m also interested in trading option but I can’t figure how the platform works.
If any of you have some info about it; I would appreciate if someone could help me.

Regards
  • #17
  • Dec 10, 2008 2:27pm Dec 10, 2008 2:27pm
Im not sure how anyone can successfully trade the news anymore. The price is just as likey to spike the opposite way that makes sense. Plus, the spreads have been as high as 30 pips on the major pairs on ECN brokers. OUCH!
  • #18
  • Edited 10:14pm Dec 10, 2008 5:28pm | Edited 10:14pm
Quoting AngelaTrix
T-Rex

Trading news has become unpopular these days. Traders don’t pay attention but what does fit with themes already priced into exchange rates.
However, I think we must pay attention to fundamental all over the world more than usual as every action in a single country can affect the performance in global markets.

About your question; I’m using the MT4 platform from tradeview. They update their news every day.
I just don’t feel it’s enough for my trading style. I need more info and more sources.

I’m also interested in trading option but I...
About trading options I recommend Core Options, If you want to get an insight on how to trade them I suggest you read about vanilla options, for me they are the easiest ones to trade.

  • #19
  • Oct 9, 2010 11:03am Oct 9, 2010 11:03am
Quoting victor90
Which broker do you find best for news trading? I know the spreads widen and its hard to get a fill. But i still wanna look into it, any broker you ppl use?
Victor, Have you solved the question concerning the broker ??

I havce the same quesiton as you had. By the way, take a look at my thread posted today :

Cheers,


Hi everyone!
I write to all of you to get your point of view in order to choose a broker according to my trading style : STRADDLE TRADING.


In fact, I have started trading some years ago, mainly with technical analysis. Up to now this style of trading takes lots of efforts and time to get a few pips by earning more than I lose.

However, I’ve lastly met lots of people trading news (straddle trading ) and apparently they are performing well in getting good pips in a few minutes after the initial spike. Also later on with the fibo retracements.

After seriously thinking about it, I finally decided to jump into this “straddle trading”.

Ones I took this decision to trade news, I have opened various demo accounts, and I am now testing various possible entry strategies to trade the spikes. The result if very positive in terms of pips, but I guess this is only because I am trading with the Demo accounts.

As far as I could read on various websites, the REALITY OF A LIVE ACCOUNT COULD BE COMPLETELY OTHER, not only because of the trader psychology which is difficult to detract from money, but also for the following points:

1) SPREAD INCREASE: The Spread shall be highly increased during the most important news release, and I may be easily wiped out from the market even before knowing the result of the news.

2) SLIPPAGE INCREASE: The slippage which exists between the expected price and the real execution price increases as well, and therefore, I could get the execution at the end of the spike very often.

3) NON LIQUIDITY: The “Lack of Liquidity” in those moments not only, gives a bad execution prices, but also, bad order filling. Therefore, I may risk not to be able to close (or open) the position at the right time during the few minutes of the spike.

4) FREEZED SCREEN: Various dishonest brokers can freeze your MT4 platform in those moments and you can stay trapped in a loosing position.

5) STOP HUNTERS: One minute before the spike, the MM’s can move the market up and down in order to hunt all possible stop losses before the spike, therefore, I would be involved in a risky situation to place the order before the news release.

According to what I could read on various web sites, points 1, 4 and 5 correspond to Marker Makers. Points 2 and 3 to ECN companies….

After mentioning all this concerning the Spike trading, I would like to know which is your point of view on the subject, and of course hear your possible recommendations in terms of brokers to trade the news.

I believe that all things mentioned above are absolutely true in the majority of the brokers, but I also believe, that a few honest brokers surely allow a day trader to trade news. Furthermore, I still believe that many traders do day trading for a living by trading news. Otherwise, “Straddle Traders” would not exist.


Thanks to all of you for having had enough patience to read all my post up to here, and I wait for your feedback on the subject.
Cheers,
PFX
  • #20
  • Jan 15, 2011 10:05pm Jan 15, 2011 10:05pm
Quoting Pfx
Victor, Have you solved the question concerning the broker ??

I havce the same quesiton as you had. By the way, take a look at my thread posted today :

Cheers,


Hi everyone!
I write to all of you to get your point of view in order to choose a broker according to my trading style : STRADDLE TRADING.


[font=Times New Roman][size=3]In fact, I have started trading some years ago, mainly with technical analysis. Up to now this style of trading takes lots...
I am also interested in the same as you for a news trading broker.

Jim
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