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Help please - Low spreads broker?

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  • #1
  • First Post: Sep 2, 2009 4:27pm Sep 2, 2009 4:27pm
Looking for a broker that provides MT4, and low spreads (1-1.5 E/U, 1.5-2.5 E/J, 1.5-2.5 G/U) etc. Should also be at least fairly well known, and have a pretty good reputation. Preferably insured also, and the more pairs the better.
Really struggling here, was about to go with the collective fx, but they are no longer accepting new members, what a tease. Any help would be much appreciated.
  • #2
  • Sep 2, 2009 4:44pm Sep 2, 2009 4:44pm
FxPro.com does it for me. I have been trading forex for almost 5 years and have used FXCM IBFX FOREX.com FxPro.com MBT - only MBT and FxPro.com have not been "fired". I consider the 1st 3 as deposit only Brokers.
FF = Forex Faggots
  • #3
  • Sep 2, 2009 4:48pm Sep 2, 2009 4:48pm
Quoting 8fingers
FxPro.com does it for me. I have been trading forex for almost 5 years and have used FXCM IBFX FOREX.com FxPro.com MBT - only MBT and FxPro.com have not been "fired". I consider the 1st 3 as deposit only Brokers.
Ty, was actually tops on my list right now. Still keeping my fingers crossed I can find something just a tad cheaper. (or similar price, but without the 20 pip from entry stoploss/exit thing)
  • #4
  • Sep 2, 2009 6:04pm Sep 2, 2009 6:04pm
I only trade the Eur/Usd when the Spread is .8 or lower(usually .8 to .5).I trade using an EA and I set it to ONLY accept that kind of Spread. Aside from FXPro.com's quarky withdrawal procedure, they have been the best Broker I have had trading a "mini" account. The "big" 3 I first mentioned dont even compare. Having USA based broker is NOT safety of funds-not be a long shot. And the games they play border on the criminal-IMO. Good luck with your search though.
FF = Forex Faggots
  • #5
  • Sep 2, 2009 9:02pm Sep 2, 2009 9:02pm
Quoting 8fingers
I only trade the Eur/Usd when the Spread is .8 or lower(usually .8 to .5).I trade using an EA and I set it to ONLY accept that kind of Spread. Aside from FXPro.com's quarky withdrawal procedure, they have been the best Broker I have had trading a "mini" account. The "big" 3 I first mentioned dont even compare. Having USA based broker is NOT safety of funds-not be a long shot. And the games they play border on the criminal-IMO. Good luck with your search though.
Ya I've heard a lot of good things about them, and love their spread. Can't stand the 20 pip from entry SL/TP thing though, not that I am always scalping, but its nice to have the option if I am. Thanks again for the info, and I agree, some stuff that goes on is pretty shady, and I would like to avoid that for sure.
  • #6
  • Sep 2, 2009 10:41pm Sep 2, 2009 10:41pm
You keep mentioning 20 pip StopLoss difference and I am not sure exactly what u mean? They require a 5 pip setting for StopLoss placement on all market orders-not 20 pips. If this is what u meant that is? Anyway-take the plunge-the market is exciting and profitable(mostly). I would also suggest ForexPeaceArmy.com for broker reviews.
FF = Forex Faggots
  • #7
  • Sep 2, 2009 11:48pm Sep 2, 2009 11:48pm
Quoting 8fingers
You keep mentioning 20 pip StopLoss difference and I am not sure exactly what u mean? They require a 5 pip setting for StopLoss placement on all market orders-not 20 pips. If this is what u meant that is? Anyway-take the plunge-the market is exciting and profitable(mostly). I would also suggest ForexPeaceArmy.com for broker reviews.
Yeah, it says 20 when I go to enter in an order... not sure why its only 5 for you, but I trust you are correct. Hmm
Been trading micro for awhile, going insanely bored, so need to step it up. Hopefully it makes things exciting again Thx for your help.

The collective fx said they will take some more peeps in the upcoming weeks, so I guess new question, anyone tried them?
  • #8
  • Sep 3, 2009 12:09am Sep 3, 2009 12:09am
I'm waiting to get into Collective FX - I'd like to play with MB but I cant tell ANYTHING by using their demo MT4. They dont really care about keeping it stable for user testing so that stop it, patch it and generally screw with it frequently. You might want to wait for their new entry into MT4 instead of Paying the flat monthly fee of $147.00? from CFX if your still learning or try ATC Brokers.
  • #9
  • Sep 3, 2009 12:28am Sep 3, 2009 12:28am
Quoting Fulltime247
I'm waiting to get into Collective FX - I'd like to play with MB but I cant tell ANYTHING by using their demo MT4. They dont really care about keeping it stable for user testing so that stop it, patch it and generally screw with it frequently. You might want to wait for their new entry into MT4 instead of Paying the flat monthly fee of $147.00? from CFX if your still learning or try ATC Brokers.
Collectives charge is 150 a month? Sigh. Whens the new entry into MT4, or whats that about?

MB seems nice, just after commish, its a little pricey
  • #10
  • Sep 3, 2009 12:59am Sep 3, 2009 12:59am
Every couple weeks MB lets a few more peeps go LIVE - you have to monitor their thread for the announcement. One you're good you can switch to CFX. I like the idea of paying a flat fee instead of getting nicked on EVERY TRADE all month long - And instead of padding the spread a pip or two its easier to get into/out of trades since no dealer markup exists to stop your tp from executing or hitting your stop a few pips earlier. Its cleaner. (especially on some currencies that other dealer have a 6 spread on it but CFX is only 2.5 to 3. It adds up bigtime!) - ATC is also another option. They have tight spreads too and a commision of only $8 per 100K roundturn. http://www.forexfactory.com/showthre...86#post3017186
  • #11
  • Sep 3, 2009 1:20am Sep 3, 2009 1:20am
Quoting Fulltime247
Every couple weeks MB lets a few more peeps go LIVE - you have to monitor their thread for the announcement. One you're good you can switch to CFX. I like the idea of paying a flat fee instead of getting nicked on EVERY TRADE all month long - And instead of padding the spread a pip or two its easier to get into/out of trades since no dealer markup exists to stop your tp from executing or hitting your stop a few pips earlier. Its cleaner. (especially on some currencies that other dealer have a 6 spread on it but CFX is only 2.5 to 3. It adds up bigtime!)...
Thanks a lot for the help, I appreciate it. I was wondering what you mean though, "every couple of weeks MB lets a few more peeps go live - (etc), once you're good, you can switch to CFX"? Is this beneficial to do so? I don't really want to use MB, its a little to costly. Lets take g/u for instance, 2.5 on average spread, plus .8 on both sides of the trade, thats 4.1 ;(
Sorry I am misunderstanding you I think.

I do agree, maybe the 150 is worth it, would be roughly .75 percent of my likely account though monthly ; /
  • #12
  • Sep 3, 2009 3:04am Sep 3, 2009 3:04am
Hey guys,

great forum here.
what broker would you recommend a rookie like me? is the brokers location important for secruity purposes?

Cheers,

Jussi
  • #13
  • Sep 3, 2009 9:32am Sep 3, 2009 9:32am
If your an active trader the CollectiveFX is hard to beat. The just added a major Bank to their service as well.
FF = Forex Faggots
  • #14
  • Last Post: Sep 3, 2009 12:05pm Sep 3, 2009 12:05pm
Quoting 8fingers
If your an active trader the CollectiveFX is hard to beat. The just added a major Bank to their service as well.
col...fx who are those guys btw?
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