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MT Broker recommendations

  • #1
  • First Post: Apr 4, 2007 2:28am Apr 4, 2007 2:28am
Everyone, sorry if this has been asked a hundred times, but I searched the forums and couldn't come up with anything in a reasonable amount of time, so I decided to post.

So, I love MT. I'm hooked. I'm using a MIG demo account, and am ready to set up a live account. Minimum deposit is not a concern, as long as it's around $5000 or less (most brokers are in that range, right?). I'm looking for reliability and the ability to execute trades even during very busy times, since it seems like most brokers offer pretty similar pip spreads and so forth. I'm located in the US, so I see no real advantage to signing up with MIG, as they are in Switzerland... a home-based broker would be the logical choice, right?
  • #2
  • Apr 4, 2007 2:40am Apr 4, 2007 2:40am
Quoting JoshDance
Everyone, sorry if this has been asked a hundred times, but I searched the forums and couldn't come up with anything in a reasonable amount of time, so I decided to post.

So, I love MT. I'm hooked. I'm using a MIG demo account, and am ready to set up a live account. Minimum deposit is not a concern, as long as it's around $5000 or less (most brokers are in that range, right?). I'm looking for reliability and the ability to execute trades even during very busy times, since it seems like most brokers offer pretty similar pip spreads and so forth. I'm located in the US, so I see no real advantage to signing up with MIG, as they are in Switzerland... a home-based broker would be the logical choice, right?
Perhaps you can try 1world. I have a live account with them for almost two months now, and it seems to be OK. I have also real account at MIG, and comparing it to 1world, the second one has better execution.
  • #3
  • Apr 4, 2007 2:43am Apr 4, 2007 2:43am
Quoting JoshDance
Everyone, sorry if this has been asked a hundred times, but I searched the forums and couldn't come up with anything in a reasonable amount of time, so I decided to post.

So, I love MT. I'm hooked. I'm using a MIG demo account, and am ready to set up a live account. Minimum deposit is not a concern, as long as it's around $5000 or less (most brokers are in that range, right?). I'm looking for reliability and the ability to execute trades even during very busy times, since it seems like most brokers offer pretty similar pip spreads and so forth. I'm located in the US, so I see no real advantage to signing up with MIG, as they are in Switzerland... a home-based broker would be the logical choice, right?
Don't go with MIG, too many bad things flying around about them. I have a live account with InterbankFX but I don't want to make any recommendations.
  • #4
  • Apr 4, 2007 2:51am Apr 4, 2007 2:51am
Josh

I PM'd you a forex broker review that you may find helpful. It is a comparison of most forex brokerage firms.

Good Luck
  • #5
  • Apr 4, 2007 3:11am Apr 4, 2007 3:11am
i use interbankfx., because of micro lot in mini account ( about $ 0.01 per gbp-usd pip) that's the best thing i found in a few month searching + a quite good amount of swap.

sometimes the server is freeze, or down, they don't like scalp, and sometimes the tick is a bit tacky but since i goes for a bit long position and mostly use limit & stop, i don't care much about that.
  • #6
  • Apr 4, 2007 4:33am Apr 4, 2007 4:33am
Quoting piccolo
Don't go with MIG, too many bad things flying around about them. I have a live account with InterbankFX but I don't want to make any recommendations.
I think it is easier to find something bad about IBFX than MIG. It is better when discussing facts than 'too many things'. Can you maybe tell what things you know about MIG? Regarding IBFX, it is not unusually that they widen spread very much during volatile times and that they servers are not very stable. Perhaps one of the lowest up-time in the industry. Also I heard that IBFX customer service is not good.
  • #7
  • Apr 4, 2007 4:38am Apr 4, 2007 4:38am
Quoting aktur
I think it is easier to find something bad about IBFX than MIG. It is better when discussing facts than 'too many things'. Can you maybe tell what things you know about MIG? Regarding IBFX, it is not unusually that they widen spread very much during volatile times and that they servers are not very stable. Perhaps one of the lowest up-time in the industry. Also I heard that IBFX customer service is not good.
Yeah, I know all the issues with IBFX but still I consider it to be "stable". As I said, I will not make any recommendations. When you see IBs leaving MIG you have to start wondering.. but good luck anyway.
  • #8
  • Apr 4, 2007 5:14am Apr 4, 2007 5:14am
Quoting piccolo
Yeah, I know all the issues with IBFX but still I consider it to be "stable". As I said, I will not make any recommendations. When you see IBs leaving MIG you have to start wondering.. but good luck anyway.
I don't see any IBs leaving MIG, can you give an example? I'm their IB myself, like many other brokers. For some type of trading they are best for other I would recommend something different. I would rather say that there is no one broker who suits all.

Mind also that 'many things' means at least two things. IBs leaving, without knowing reasons, is only one thing. I'm asking because, as their IB I want to know all issues.
  • #9
  • Apr 4, 2007 5:17am Apr 4, 2007 5:17am
Quoting aktur
I don't see any IBs leaving MIG, can you give an example? I'm their IB myself, like many other brokers. For some type of trading they are best for other I would recommend something different. I would rather say that there is no one broker who suits all.

Mind also that 'many things' means at least two things. IBs leaving, without knowing reasons, is only one thing. I'm asking because, as their IB I want to know all issues.
how long have you been trading with them? it is great that you have good experience with them and are satisfied.

PS - are you auto trading with MIG?
  • #10
  • Apr 4, 2007 5:21am Apr 4, 2007 5:21am
Quoting piccolo
how long have you been trading with them? it is great that you have good experience with them and are satisfied.
Almost a year now. My result is 150% gain. I removed all my investment and am trading with their money.
  • #11
  • Apr 4, 2007 5:22am Apr 4, 2007 5:22am
Quoting piccolo
PS - are you auto trading with MIG?
Yes I am. You must ask for auto trading separately after opening an account.
  • #12
  • Apr 4, 2007 5:46am Apr 4, 2007 5:46am
Quoting aktur
Almost a year now. My result is 150% gain. I removed all my investment and am trading with their money.
Good to hear some good experience for a change.
  • #13
  • Apr 4, 2007 6:27pm Apr 4, 2007 6:27pm
Quoting WHTenn
Josh

I PM'd you a forex broker review that you may find helpful. It is a comparison of most forex brokerage firms.

Good Luck

Any chance of you posting that Broker review here? I'd love to have a look at it. Thanks!
Within apparent chaos there is order for those who know how to look
  • #14
  • Apr 4, 2007 6:41pm Apr 4, 2007 6:41pm
Try one with MT4 and one non MT4. That way you can use non MT4 for instant execution for news trading and the other for automated trading.
MT4 platform will kill you if you need quick execution.
  • #15
  • Apr 4, 2007 10:58pm Apr 4, 2007 10:58pm
Quoting highway3000
Try one with MT4 and one non MT4. That way you can use non MT4 for instant execution for news trading and the other for automated trading.
MT4 platform will kill you if you need quick execution.
This sounds reasonable... I hate to spread my money all around, but that may be the solution. I use MBT right now, and love them so far. 1 pip spread on majors is a big plus... But I just love the MT4 interface, and I love how the trading interface integrates so well with the charts and everything. Plus, I'm doing 4-hr and 1-hr charts, so rarely will I need anything filled very quickly.
  • #16
  • Apr 5, 2007 9:40pm Apr 5, 2007 9:40pm
North Finance MT-4 platform has been very stable during the last few months I have been demo trading with them, but their on-line customer service is not very good.
  • #17
  • Last Post: Apr 7, 2007 10:57am Apr 7, 2007 10:57am
After much debate and research, I've decided to just keep my account with MBT, and use an IBFX demo account on MT. I've just read so many bad things about MT-based brokers (and many good things, but the bad seem to outweigh the good) that I don't want the hassle. I'll just stick with my current account and add my money there.
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