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Any comments re: FastBrokers?

  • #1
  • First Post: Feb 5, 2011 8:53am Feb 5, 2011 8:53am
As I've decided to kick MBT into touch because of my negative experiences this week, I'm thinking of opening an account with FastBrokers.
I like the look of them and have been recommended by a friend but I'd like to hear any other feedback.

They are a currenex ECN and they also do MiniFX Futures which is something I'm considering trading in too. I've been told that they are an IB for FXDD so it would be better for me to open an account with them instead.

Again, any opinions would be appreciated. Thanks
He was looking for the card so high and wild hed never need to deal another
  • #2
  • Feb 5, 2011 11:09am Feb 5, 2011 11:09am
Quoting dr_who
As I've decided to kick MBT into touch because of my negative experiences this week, I'm thinking of opening an account with FastBrokers.
I like the look of them and have been recommended by a friend but I'd like to hear any other feedback.

They are a currenex ECN and they also do MiniFX Futures which is something I'm considering trading in too. I've been told that they are an IB for FXDD so it would be better for me to open an account with them instead.

Again, any opinions would be appreciated. Thanks
you had 1 bad experience with your broker and you want to change broker
  • #3
  • Feb 5, 2011 11:43am Feb 5, 2011 11:43am
No. Because I also trade weekend gaps and MB, (a) dont start trading till later than normal on Sundays and (b) they often dont allow trading for over an hour from their opening because of poor liquidity (sic). That, combined with their excuses that NT was at fault and not their system and the extremely aggressive customer support has given me enough grief to kick them into touch.

I've enjoyed a good relationship with them for quite a while but I've also noticed a decline in their service recently and this was just the tipping point.
That customer support guy was fucking rude and I see no reason why I shouldn't vote with my feet.
He was looking for the card so high and wild hed never need to deal another
  • #4
  • Feb 6, 2011 5:11am Feb 6, 2011 5:11am
Quoting dr_who
No. Because I also trade weekend gaps and MB, (a) dont start trading till later than normal on Sundays and (b) they often dont allow trading for over an hour from their opening because of poor liquidity (sic). That, combined with their excuses that NT was at fault and not their system and the extremely aggressive customer support has given me enough grief to kick them into touch.

I've enjoyed a good relationship with them for quite a while but I've also noticed a decline in their service recently and this was just the tipping point.
That customer...
Certainly you must do what works for you, but it was weird that they were rude. Usually MB is on top in the customer service department. Maybe she/he was having a bad day. Was it one person, or was everyone sharing that same sentiment.
Measure trends automatically with zero lag
  • #5
  • Feb 8, 2011 11:54pm Feb 8, 2011 11:54pm
Quoting dr_who
As I've decided to kick MBT into touch because of my negative experiences this week, I'm thinking of opening an account with FastBrokers.
I like the look of them and have been recommended by a friend but I'd like to hear any other feedback.

They are a currenex ECN and they also do MiniFX Futures which is something I'm considering trading in too. I've been told that they are an IB for FXDD so it would be better for me to open an account with them instead.

Again, any opinions would be appreciated. Thanks
I know fastbrokers and they have been very good and helpful so far. They use a new platform called Pathfinder Trader which, as far as I understand, it is their own proprietary software. And, you are right, you can trade forex with a currenex account and also futures (but you still need to open 2 accounts, some regulation they say). The good thing is that if you have an automated strategy on indicator you can use it for both your forex and futures account.

They are also going to release a new version of the software which they say it will allow to connect to multiple forex accounts or brokers at the same time, not sure yet, it sounds promising but we'll see. As far as I know you can get pathfinder trader only at fastbrokers. Good luck!
  • #6
  • Feb 9, 2011 1:52am Feb 9, 2011 1:52am
Quoting ybfjax
Certainly you must do what works for you, but it was weird that they were rude. Usually MB is on top in the customer service department. Maybe she/he was having a bad day. Was it one person, or was everyone sharing that same sentiment.
The first guy was fine but then he put me onto another who he said had more knowledge on the technical side and he was the one who was faceitious and rude.
I've now calmed down a little and I'm still with them as I may have been somewhat truculent.
But I am testing Fastbrokers with a demo account.
I like their DOM, much more sophisticated than the NT one but I'm surprised that eventhough they have a currenex connection their spreads are generally wider than MBTs.
The one thing I do like about MBT is their new 'pay for limits' and I'm finding that rather than being in debit at the end of the day commissions wise, I'm actually in credit. I always place limit trades and so that's quite an advantage for me and could potentially make a significant difference.
He was looking for the card so high and wild hed never need to deal another
  • #7
  • Feb 11, 2011 12:58am Feb 11, 2011 12:58am
Quoting dr_who
But I am testing Fastbrokers with a demo account. I like their DOM, much more sophisticated than the NT one but I'm surprised that eventhough they have a currenex connection their spreads are generally wider than MBTs.
Comparing Currenex spreads against MB Trading is useless. Currenex is still a credit based ECN so the market is done by the liquidity providers, while looks like in MB now even the small guy can be on top of the market.

So maybe MB shows a spread of 0.1 but the best bid/ask there are 2 a small fish with a microlot on top of the book, praying to get the rebate. I am not sure this is what you want to execute on volumes.

The Fastbrokers have done a great job in making a reputable ECN to be tradable on a sophisticated platform. This is what currenex was really missing. It is worht a try.
  • #8
  • May 29, 2011 1:57pm May 29, 2011 1:57pm
Multiple liquidity providers for both futures/forex.

I am just trying this out today, really like what I see on the charts. What's great is they not only show volume (not sure if this is just their order book probably), but it can show volume as an indicator looks very natural, akin to a volume profile on say a major stock, and not some tick-derived volume study ike VSA and others that are alright, but don't indicate the actual volume of orders. the DMI indi looks excellent in conjunction with the vols.

Not trying to sound like a commercial here. But there seems to be a trend among some (i.e. fxcm strategy trader) brokers now (especially DMA/STP) to create their own proprietary platforms and dump MT altogether, can't say anyone would want to argue with that. MT bridges always have issues.

You aso have here Utra low latency. Try to find a currenex ULL broker out there that requires only $2500 min. dep.

There've been posts complaining about the monthly fee. Again, for $50/mo. for futures data since inception, I challenge anyone who can find a lower rate...I've looked high and low.

I've long wanted to use various exchange traded futures in my forex trading, such as the usdx and VIX, without having to write cludgy C++ dll's and screw around with MT.

Is anyone else using PF?

Quoting mark308
I know fastbrokers and they have been very good and helpful so far. They use a new platform called Pathfinder Trader which, as far as I understand, it is their own proprietary software. And, you are right, you can trade forex with a currenex account and also futures (but you still need to open 2 accounts, some regulation they say). The good thing is that if you have an automated strategy on indicator you can use it for both your forex and futures account.

They are also going to release a new version of the software which they say it will allow...
  • #9
  • Last Post: Jun 17, 2011 1:49am Jun 17, 2011 1:49am
I’ve been playing with Pathfinder for quite some time now and I have to say that I'm really liking what I see. This platform is definitely unique and not the usual MT4 of which I’ve grown tired of. Sure there are a million EAs for MT4, but really, has anyone become rich using EAs? All I see is the usual people running circles and broker hopping. Don't take me wrong, EAs are great but they are like driving a Ferrari with a Pinto engine, they look good on paper but when it comes to execution it’s a whole different story.
So, I have decided to move away from MT4 and look for something different. Take a look at Pathfinder’s charts or at the depth of market (they call it scalperbook) which is great to place orders fast and on the fly. Whoever designed this platform did it with the active trader in mind.
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