Trading House?

Hi there Traders,

Im sort of new to the world of FX. Been doing equities all the while.
Have been doing some self studies and demo prior to this thread

Would like to seek you guys opinion on which trading house would be good.
In terms of CREDIBILITY (dont want to meet up with a fly by night coy), stability (as in no delayed filling of orders) and spreads.

So far have narrowed down to Onada, Saxo, IG.
Leverage wise, looking at 1:100. As dont wish to tie down too much liquid cash for collateral. Know that Onada caps theirs at 1:50, but they have got rather tight spreads

Help appreciated!!
Thanking you for showing the way

I know Forex Factory lay down pretty strict criteria and so I would recommend any "preferred broker" from this list: http://www.forexfactory.com/brokers.php

There is also a brokers discussion thread in the forums but it's mainly populated by whingers who couldn't get a fill when the price was moving at 10 pips a second - that sort of thing. Some of the horror stories are interesting, though. You are right, there are some brokers to be avoided.

Pay attention that they are STP, ECN and DD.

Hi Ivan, could you elaborate further. Im not getting you. As im rather new to the fx scene.

Ya, heard that trading through ECN's would be better. Less bullshit in a sense?

Cheers

Let me clarify how i understand it. Any additions are welcomed.

DD(Dealing desk) brokers have their trader's positions cover each other not necessary accessing the market. Also they trade against you by creating slippage etc., thus making sure you must lose.

ECN (Electronic communication Network) brokers do not have slippage. So, you are in the market whenever you clicked trade but act against your positions by increasing/decreasing spreads unexpectedly. Like i saw spread jumped from 1.8 to 8.3 during my live trade.

STP. Can anybody explain?
Please do not refer to long never ending articles.