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Good Brokers

  • #1
  • First Post: Apr 28, 2010 7:14pm Apr 28, 2010 7:14pm
Hey there ppl.
I like to say thanks i am new to this site, but have seen a few small pieces of gold laying around in this site and was really helpfull, so thank you fellow traders.

Ok my question:
Can anyone give me a few names of good trusted brokers that apply to these spesifications.
1) Use a easy to handle platform(preferably MT4)
2) Have good spread charges(no more than 3pip spreads) i 5min trade so yeah more than that will kill me.
3) Fast execution of orders, i do intand execution(market orders whateva you call it) so i need my order to be placed within a second of clicking sell or buy.
4) A broker that does micro lots. Because i do 5min charts i am aware that the market can move against you very fast, so i have made my management i can lose a 1000 hard stops and i am going to open a account with $2500-$3000 so yeah i need to micro trade to start building my account.
5) And a broker with a clean record, that wont just go busto and claim they have gone bankrupt over night if you get what i am saying.

Ok that covers it, i have heard of someone trading on FXCM and says they are good for him, but here i hear alot of ppl going on about them as if they are the worst broker ever.
Currently i am demo trading with ikon royal and so far they seem ok with executions and so on, unfortunatly they dont have micro so yeah.
(Sorry if my english spelling isnt the best)

Thanks for all your help.
Daniel
  • #2
  • Apr 29, 2010 8:10am Apr 29, 2010 8:10am
Quoting CoffeeDrinke
Hey there ppl.
I like to say thanks i am new to this site, but have seen a few small pieces of gold laying around in this site and was really helpfull, so thank you fellow traders.

Ok my question:
Can anyone give me a few names of good trusted brokers that apply to these spesifications.
1) Use a easy to handle platform(preferably MT4)
2) Have good spread charges(no more than 3pip spreads) i 5min trade so yeah more than that will kill me.
3) Fast execution of orders, i do intand execution(market orders whateva you call it) so i need my...
You might try FXDD. Your specifications are pretty general though; you say 3 pip spreads for example; on what pair(s)?? Every pair is different.

Also, re LIVE trade execution, realize that demo doesn't tell you anything about that. You'll always have great execution on demo. Unfortunately, the only way to know what live execution is like is to either trade live at the broker yourself, or read what others who have traded live there have to say.

As for FXDD, I have a live account there, and execution is pretty good; not perfect, but certainly acceptable.
  • #3
  • Apr 29, 2010 9:46am Apr 29, 2010 9:46am
Ok thanks ill check that out.

As to what pairs.
EUR/USD
GBP/USD
USD/CHF
EUR/JPY
USD/JPY

Those are the ones i look at most.
  • #4
  • Apr 29, 2010 11:41am Apr 29, 2010 11:41am
Quoting CoffeeDrinke
Ok thanks ill check that out.

As to what pairs.
EUR/USD
GBP/USD
USD/CHF
EUR/JPY
USD/JPY

Those are the ones i look at most.
FXDD's spreads are fixed (usually ); above pairs are:

EU 2
GU 4
UChf 3
EY 4
UY 3
  • #5
  • Apr 30, 2010 4:25am Apr 30, 2010 4:25am
Thanks for your help.
The spread is kinda highish,but prob livable but 4pips on EUR/JPY its my fav pair i am out raged .

Anyway, i see FXCM has good spreads, they are also well known but are they good or are they a bunch of scammers as i have heard ppl saying??

Yet again ty for helping
Daniel.
  • #6
  • Apr 30, 2010 6:51am Apr 30, 2010 6:51am
Admiral markets, 1pip spread for eur/usd, 2 pips for gbp/usd. It is fixed but during very volatile market conditions can rise 1 pip higher for both. While I do not trade during news I never sow higher spread then that. It is a market maker broker. But I trust it. Sends money forward back with no problems.
  • #7
  • Apr 30, 2010 8:58am Apr 30, 2010 8:58am
fxopen. low spreads, fast execution, and MT4 ECN.
  • #8
  • Apr 30, 2010 9:47am Apr 30, 2010 9:47am
Quoting CoffeeDrinke
Thanks for your help.
The spread is kinda highish,but prob livable but 4pips on EUR/JPY its my fav pair i am out raged .

Anyway, i see FXCM has good spreads, they are also well known but are they good or are they a bunch of scammers as i have heard ppl saying??

Yet again ty for helping
Daniel.
For FXDD, you can get rebates up to 0.7 pip per trade, plus there's no commission, so the EY spread is effectively 2.5-3 or so rather than 4.

Re. FXCM, they have a couple of different feeds, so be sure you know which you're going to get. I have an account there through ATC brokers and get the "no deal desk" pricing; EY about 1.8 spread with 0.8 commission.

However, FXCM has recently had horrible execution delays and slips. ATC has backed me up more than once, and I've gotten money credited back to my account when I was able to document things like 22 seconds for an order to execute, etc.

FXDD's execution has always been pretty good though...

I'd just caution against putting too much focus on spreads. Low spreads are meaningless if you get bad execution, but sounds like you know that...
  • #9
  • May 6, 2010 6:17pm May 6, 2010 6:17pm
I started to demo Alpari UK today, their execution is rather fast, i know its only demo but yeahit doesnt seem bad.
There is one prob i have and would like to know if alot of dealers does that, i can close my orders in the night but i can not seem to open new orders do they close or something, because that seems weird to do.

Thanks
  • #10
  • May 6, 2010 10:18pm May 6, 2010 10:18pm
FXDD has a relatively good offer. is there a difference in trading execution and spreads from a demo and live account?
  • #11
  • May 7, 2010 4:33am May 7, 2010 4:33am
Spread same, but Demo Execution can't be same as live in any broker.

Quoting newstick8
FXDD has a relatively good offer. is there a difference in trading execution and spreads from a demo and live account?
Charting Markets into the Future...MǎҖ€¥.
  • #12
  • May 7, 2010 5:38am May 7, 2010 5:38am
Fxcentral check them before any thing else
  • #13
  • May 7, 2010 9:24am May 7, 2010 9:24am
Quoting amarfx
Fxcentral check them before any thing else
GU spread is 4 pips, PLUS a $4.00 commission per 100K?? That's 8 pips spread!! If you're an employee or an IB with them, well then I understand your promoting them. If not, then we probably need to talk my friend!

"Can't disclose my broker, Don't PM ME http://cdn.forexfactory.com/images/s...m/big_grin.gif"

...nothing to worry about there
  • #14
  • May 7, 2010 9:26am May 7, 2010 9:26am
What about Dukascopy? Who's trading with them...
  • #15
  • May 7, 2010 9:58am May 7, 2010 9:58am
Quoting Darth Vader
What about Dukascopy? Who's trading with them...
yeah was considering them, but as said i can only start up with 2000-3000 at the moment so mini not a option for me at the moment, but do you have dukascope if so whats your experiance with them???

Uhm i posted about alpari lol its prob just me not clicking the order button right haha, coz yesterday i could place a order after the market close, so far their demo seems ok.

Ok ppl say demo and live diff from one another, in what way, which would give you a faster order execution, live or demo???
  • #16
  • May 8, 2010 9:08pm May 8, 2010 9:08pm
Quoting CoffeeDrinke
yeah was considering them, but as said i can only start up with 2000-3000 at the moment so mini not a option for me at the moment, but do you have dukascope if so whats your experiance with them???

Uhm i posted about alpari lol its prob just me not clicking the order button right haha, coz yesterday i could place a order after the market close, so far their demo seems ok.

Ok ppl say demo and live diff from one another, in what way, which would give you a faster order execution, live or demo???
I don't have an account with them, but am also considering them. That's why I would like to know live experiences with Dukas.
  • #17
  • May 10, 2010 1:09am May 10, 2010 1:09am
lol, yeah that was kinda obv lol, ok ill fish around to check if someone trading with them, is there anyone that knows something about setting hot keys, i have another thread conserning hot keys and no one wants to help me can you go check it out and give some info on the subject

Thank you
Daniel
  • #18
  • May 10, 2010 1:23am May 10, 2010 1:23am
Dukas are real cool.

FXOpen actually use Dukas' feed, and they're also MT4, so if you want an MT4 broker that's ECN, then FX Open is a great choice.
  • #19
  • May 10, 2010 1:20pm May 10, 2010 1:20pm
Quoting qwertymyfx
Dukas are real cool.

FXOpen actually use Dukas' feed, and they're also MT4, so if you want an MT4 broker that's ECN, then FX Open is a great choice.
Thanks for your input, my first thng i want to master is trading so i havnt looked so much into brokers thats y i started this thread, can you explain what a ECN broker is, i have a general idea, but havnt gone into detail about diff brokers and stuff like that.

Thanks
Daniel
  • #20
  • Edited 10:09am May 11, 2010 10:06am | Edited 10:09am
Hi All

I need your goodly advice. I need to do some testing on a live account using the MT4 Platform.

However I only want to deposit $50 - $100. I currently have a demo with FXCM, but their requirments are $2000 as a minimum deposit.

Thanks much
Tread

EDIT: They should also allow funding of account via Credit Card
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