MT4 favorite Brokers - as low as 1 Pip spreads

i am demoing oanda's mt4. slow execution, not responsive with the set TP and quick in SL but the thing is it executed stop loss with 3 pips difference from the number i input. Their java-based platform is much better but it lacks what mt4 can provide.

Do you guys know a broker who accepts debit card with low spread and stable mt4 platform?

I just finished demoing gomarkets mt4 it crashes and lacks data on eurusd. tried deleting and reinstalling same issue.

Fx Open has level 2 DOM Smarttrader doesnt? This is just an observation. I have no experience with either.

this broker has a nice penny acct option but other than that they are a slow processor and the platform drops alot. I also don't trust them......

just ,my opinion

I am currently demo-ing FXPro's MT4. so far so good and I like that I can use moneybookers because deposit is free and withdrawal is just about less than $2 unlike other brokers that charges $20 to $30 on withdrawals.

Anybody here who has a live account with them? please provide a feedback. TIA

Hi All
I'm new to this forum so I'll quickly introduce myself. I have been trading fx for about 3 months now, just getting a feel for the different products on offer and trying to gain as much information as possible.

I recently downloaded an MT4 demo. I like the platform, it seems pretty easy to use.

Anyway it seems that an ECN broker offering DMA (direct market access) would suit me well because of the tight spreads, especially if I decide to incorporate EAs into my portfolio. Is anyone using a good MT4 broker and getting tight spreads?

There seems to be a lot of negativity around some MT4 brokers so it would be could to get an objective view and this thread seems to be all about that.

silverfx

MT4 PLATFORM is not involved in bad service and bad practices, I trade with it successfully since 2007 with a broker strictly regulated by FSA.(no bad tricks)
If you can avoid some israeli/russian entities based in Cyprus/BVI/Mauritius, all is fine.

I'm hunting for a broker with a good DMA model. I've also had a demo from gomarkets which I found to be pretty good but I've heard you can get zero spreads with DMA.

I've heard lots about OANDA but no one is 100% happy.

Anyway I'll keep you guys updated on what I find.

Anyone running EAs on MT4? I'm starting to do more and more alfrithmic trading but only just learning to code properly...

silverfx

Hi,

I like the demo I am running of this STP - They seem to be very good all around.

http://www.4runnerforex.com/4R/

after only 3 week i had usd14++ but the next week my acc had terminated.. now i reveive my first deposit 100 buck.. please read carefully their aggreement before u trading.. happy trade buddy

i am planning to open a new ECN a/c, i have some queries if somebody can clarify.

1) In ECN a/c trading the spread is decided by the banks and the open mkt where our trades actually get filled, is this right? In non ECN a/c the spreads are fixed by the broker and the broker can manipulate.

2) In ECN a/c the broker makes money by commission's i belive, Do they also make money thru spreads like the non ECN broker. i am asking this bcos if in ECN a/c broker is having a hand in deciding the spread then the broker can also manipulate in ECN a/c also.

3) Are the spreads in ECN a/c higher than non ECN a/c?

4) Finally is it really worth to have an ECN a/c?

Thanks.

Hi indian tiger,

There are no true ecn's for retail traders apart from mb trading and dukaskopy. Most brokers who advertise themselves as an ecn will provide an aggregated price feed, this is where bank feeds are combined to provide the trader with a best bid best offer. The difference between an aggregated feed and an ecn is you cannot provide liquidity through a limit order on an aggregated feed, where this is the case with an ecn.

To answer your first question the spread is determined by the rates the banks are dealing at, the more banks your broker has will increase liquidity and tighten the spreads. Retail traders through true DMA brokers can get better spreads than a lot of institutional clients as banks want to absorb the retail flow since most of us will lose. Makes perfect sense right? No bank wants to give tight spreads to a hedge fund doing high frequency trading that cleans up. Basically its good to be retail if you're with the right broker..

I'll swap ecn for DMA broker since it is more fitting for the majority of brokers out there, they only make money through commission.

The spreads with a DMA broker should be averaging 0.3 on eurusd during European hours and can go as low as 0 for an aggregator, even minus. It makes sense to trade through a DMA broker if you're trading higher volumes, have a large account balance or scalp since you want your execution to be dependent on the underlying market rather than your brokers agenda.

In transit so I have too much time to kill, are we there yet?