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New broker required - any suggestions?

  • #1
  • First Post: Sep 18, 2011 5:04pm Sep 18, 2011 5:04pm
Hi, I'm looking for a new broker to trade with. Right now I'm using FXDD and Oanda, both have their own disadvantages. I want my new broker to have following qualities:

1. Reliable and regulated, not one - day bucket shop.
2. Lots of available currency pairs. One of the main reason I'm not happy with FXDD is that their number of tradable pairs is quite small.
3. Hedging and no FIFO.
4. 1:100 leverage
5. Mobile trading platform.

Spreads are not an issue, I am not going to scalp. Good connection is important too. I have checked out quite a number of different brokers, and simply can't find one which would tick all the boxes. So, any recomendations?
  • #2
  • Sep 18, 2011 11:08pm Sep 18, 2011 11:08pm
Are you located in USA or outside?
  • #3
  • Sep 20, 2011 5:47pm Sep 20, 2011 5:47pm
Oh yes, this is important one - I'm in Europe
  • #4
  • Sep 21, 2011 1:41am Sep 21, 2011 1:41am
I'm also interested in a list of fair and good brokers.

In the replies to this thread are some nice suggestions by jamesr24 however it would be nice if someone could actually give some links to good brokers:

http://www.forexfactory.com/news.php?do=news&id=281337

thx
  • #5
  • Sep 22, 2011 8:39am Sep 22, 2011 8:39am
Make sure their a true ECN broker, non dealing desk & registered with a governing body. My experience with MT4 has left me feeling that platform is nothing more than a new age bucket shop prefering to use the brokers own platform. It can be tough to find one suiting your individual requirements. Good luck. It'd good for you to post your decision.
  • #6
  • Sep 22, 2011 11:25pm Sep 22, 2011 11:25pm
MRV I PM'd you a few brokers that meet all your requirements..
  • #7
  • Sep 23, 2011 3:46am Sep 23, 2011 3:46am
check saxobank

www.saxobank.com

im testing it since some time and find it very very good!
you need 10k $ account mininum

regards
90% of traders use TA, indicators and prediction
  • #8
  • Sep 23, 2011 4:49am Sep 23, 2011 4:49am
Quoting duggyfx
Make sure their a true ECN broker, non dealing desk & registered with a governing body. My experience with MT4 has left me feeling that platform is nothing more than a new age bucket shop prefering to use the brokers own platform. It can be tough to find one suiting your individual requirements. Good luck. It'd good for you to post your decision.
hi duggyfx,
Can you please recommend me a "REAL" ECN broker ?
~~ Happy Trading ~~
  • #9
  • Sep 23, 2011 7:59am Sep 23, 2011 7:59am
Would be nice if some experience traders could suggest some good brokers. Lot of brokers say they are ECN but in reality it is hopeless. So a list with good brokers would be nice.

thank you.
  • #10
  • Sep 23, 2011 5:36pm Sep 23, 2011 5:36pm
Quoting starbucks
hi duggyfx,
Can you please recommend me a "REAL" ECN broker ?
MB Trading. Learn how to use their Desktop Pro instead of MT4 if indeed you are serious. The platform can be a little overwhelming for novice or those coming from MT4 (as I have) but they have excellent webinars & an exhaustive catalogue. Customer service can be lacking a little at times. A discussion on MB Trading can be found on this site under broker discussion. They are the real deal.
  • #11
  • Sep 23, 2011 5:47pm Sep 23, 2011 5:47pm
Quoting duggyfx
MB Trading. Learn how to use their Desktop Pro instead of MT4 if indeed you are serious. The platform can be a little overwhelming for novice or those coming from MT4 (as I have) but they have excellent webinars & an exhaustive catalogue. Customer service can be lacking a little at times. A discussion on MB Trading can be found on this site under broker discussion. They are the real deal.
I use Multicharts DT with MB Trading and like it much better then MT4 and their homegrown apps, but that is just me.
It's easy to be humbled but hard to be humble.
  • #12
  • Sep 23, 2011 11:26pm Sep 23, 2011 11:26pm
Quoting _BBKing_
check saxobank

www.saxobank.com

im testing it since some time and find it very very good!
you need 10k $ account mininum

regards

......they are market maker and this is a conflict of interest...good luck.....
  • #13
  • Sep 24, 2011 5:25pm Sep 24, 2011 5:25pm
I'm not sure saxobank allows hedging, not too many "big names" do. So far the best looking one is alpari uk - pretty much ticks all the boxes, except mobile platform. Also, I understand they are not ECN, so I don't rush to make that final decision.
  • #14
  • Sep 25, 2011 4:10am Sep 25, 2011 4:10am
Quoting mrv
I'm not sure saxobank allows hedging, not too many "big names" do. So far the best looking one is alpari uk - pretty much ticks all the boxes, except mobile platform. Also, I understand they are not ECN, so I don't rush to make that final decision.
alpari claims to offer ecn option
  • #15
  • Sep 26, 2011 11:54pm Sep 26, 2011 11:54pm
I have been doing this for a while , started with CMC back when retail was just getting started . Over the years I have used many so called market makers/dealers , hell I even traded with Refco before they went under .


Currently with MB and have had good results , you can have more than one fx account and transfer funds between them which I like . The only thing I don`t like is their customer service , they always act like your bothering them if you have to call for something .

The company I am really impressed with atm is Alpari .

Very good record , highly regulated and offering some pretty nice tools these days.

Currenex , MT and my favorite is the FX Bridge platform which allows fx options and cash trading on the same platform . The nice thing about this is that you can trade options in mini or standard sizes which can help with hedging your spot positions .

They have really come a long way in the last 5 years. http://www.alpari-us.com/

Oh , just a quick note : The key to winning this game is not having your broker act as counter party to your trades .
  • #16
  • Sep 27, 2011 7:42am Sep 27, 2011 7:42am
Quoting mrv
Right now I'm using FXDD and Oanda, both have their own disadvantages.
Hi mrv, I'm looking at new brokers at the moment and OandA was on my list. What problems have you had.
How much are you looking to deposit, I've seen some nice looking ecn brokers but with a min deposit of €20k-€50k. Which is over my €3000 limit!!!

The few I did find that could be ok, don't answer emails to the customer service (MB Trading, oanda, deltastock). Which concerns me as should problems arise with a live account I'd like to have a quick answer.

If you have had any luck could you post here. It would really help me.
  • #17
  • Sep 27, 2011 4:45pm Sep 27, 2011 4:45pm
I use MB trading for one of my accounts. (good spreads).. And GFT for another one of my accounts. They provide good scalping out techniques.
  • #18
  • Sep 27, 2011 6:59pm Sep 27, 2011 6:59pm
Quoting mrv
I'm not sure saxobank allows hedging, not too many "big names" do. So far the best looking one is alpari uk - pretty much ticks all the boxes, except mobile platform. Also, I understand they are not ECN, so I don't rush to make that final decision.
Saxo Bank does allow hedging. All FSA regulated forex brokers allow hedging too.
  • #19
  • Oct 2, 2011 8:12am Oct 2, 2011 8:12am
Quoting nitsuj
Hi mrv, I'm looking at new brokers at the moment and OandA was on my list. What problems have you had.
How much are you looking to deposit, I've seen some nice looking ecn brokers but with a min deposit of €20k-€50k. Which is over my €3000 limit!!!
nitsuj, those are not "real problems", its more a question of personal preferences. I find their platform to be one of the worst and user - unfriendly (at the same time I know some people who think exactly the opposite), I do not like the timezone on their charts, their variable spreads jump up and down for no reason, no hedging, only 50:1 leverage. And after all that boasting about how beautiful and technically advanced their platfor is, oanda is still a bucketshop - not that it would bother me too much, but who needs all those bells and whistles, when you can get MT ecn broker and forget about "tightest spreads in the industry"? What I really like about them is their money management system - no need to print, scan, email anything, just a few clicks and I'm sorted.

FXDD, in its turn, does have a limited offer of tradable pairs and also only 50:1 leverage.
  • #20
  • Oct 2, 2011 8:28pm Oct 2, 2011 8:28pm
Quoting nitsuj
Hi mrv, I'm looking at new brokers at the moment and OandA was on my list. What problems have you had.
How much are you looking to deposit, I've seen some nice looking ecn brokers but with a min deposit of €20k-€50k. Which is over my €3000 limit!!!

The few I did find that could be ok, don't answer emails to the customer service (MB Trading, oanda, deltastock). Which concerns me as should problems arise with a live account I'd like to have a quick answer.

If you have had any luck could you post here. It would really help me.
Hi Nitsuj,
Which ECN are you refer to ?
~~ Happy Trading ~~
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