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Looking For Some Help Regarding Brokers...

  • #1
  • First Post: Jun 14, 2009 7:28am Jun 14, 2009 7:28am
Hi all,

Greetings from a sweltering Dubai!! Firstly would like to say what a fantastic forum for a vast medium of knowledge.

I've read the various threads regarding the best broker but I have a few questions that I couldn't find the answer to, so apologies if I'm covering old ground.

I'm looking for a broker that can offer the ability to place market orders so I don't have to monitor the trade every step of the way and also has the function to set a profit and also a stop loss. I have a friend who's with IG Index which is part of the IG Group, but from memory they don't have the best reputation here? He hasn't had many problems but does frequently get requotes even at $15 a pip.

A low spread is important for obvious reasons but I'm looking for a broker which offers very good liquidity and has a solid reputation that can fulfil my basic requirements of market orders and the ability to manage a trade by placing a stop profit and stop loss.

Any info greatly appreciated.

Rgds John.
  • #2
  • Jun 14, 2009 8:01am Jun 14, 2009 8:01am
Dubai has many local brokers u can chose any one of them...

if u want more details u can contact me.
  • #3
  • Jun 14, 2009 9:29am Jun 14, 2009 9:29am
Quoting Alihuzaifa
Dubai has many local brokers u can chose any one of them...

if u want more details u can contact me.
How reliable are they? I'd prefer a big, mainstream firm TBH.
  • #4
  • Jun 15, 2009 1:02am Jun 15, 2009 1:02am
Quoting DubaiTrader
Hi all,

Greetings from a sweltering Dubai!! Firstly would like to say what a fantastic forum for a vast medium of knowledge.

I've read the various threads regarding the best broker but I have a few questions that I couldn't find the answer to, so apologies if I'm covering old ground.

I'm looking for a broker that can offer the ability to place market orders so I don't have to monitor the trade every step of the way and also has the function to set a profit and also a stop loss. I have a friend who's with IG Index which is part of the IG Group,...
Every broker has market orders and the capacity to place stop losses and take profits, so you're not narrowing it down any with that. It might be easier to get responses if you name a few brokers you are considering, then ask for opinions maybe. Doing research for a proper broker is something all traders have to go through.

IG is probably not a bad choice; a friend in Australia trades with them and has been happy. Most of my familiarity with any brokers worth mentioning are US based brokers. And I'm not sure how many of them will open accounts for residents outside of the US.

I would stay away from MIG and FxPro however; I've had live accounts at both (mention them as they would be available to you as a Dubai resident).

Anyway, if you have a few you are looking at and want opinions, post again with that info, and I'll help if I can.
  • #5
  • Jun 15, 2009 1:48am Jun 15, 2009 1:48am
I've been looking at OandA and using their FXtrade platform for a few days, but can't see the ability to place market orders?

Also found MoneyForex. They say no commission but a 2-4 pip spread on major pairs. Any dealings with them?
Thanks for the info.
  • #6
  • Jun 15, 2009 1:53am Jun 15, 2009 1:53am
Ah, just done a quick search and found they are not to be trusted!
  • #7
  • Jun 15, 2009 6:19am Jun 15, 2009 6:19am
Quoting DubaiTrader
I've been looking at OandA and using their FXtrade platform for a few days, but can't see the ability to place market orders?

Also found MoneyForex. They say no commission but a 2-4 pip spread on major pairs. Any dealings with them?
Thanks for the info.
For Oanda, I only have a demo account, but if you right click on whatever chart you're looking at, a menu comes up with "market buy" and "market sell" as options. Click one of those, then another window comes up and it should be self explanatory from there. But for more detailed Oanda info, I'd suggest calling them directly (easiest way I'm sure), or check some of the Oanda threads on here.

Re. MoneyForex, never heard of them.

Hope that helps...
  • #8
  • Last Post: Sep 26, 2009 11:34pm Sep 26, 2009 11:34pm
Alpari and FXCM both now have Dubai offices.

Quoting DubaiTrader
I've been looking at OandA and using their FXtrade platform for a few days, but can't see the ability to place market orders?

Also found MoneyForex. They say no commission but a 2-4 pip spread on major pairs. Any dealings with them?
Thanks for the info.
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