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Please help me with broker

  • #1
  • First Post: Jan 23, 2012 4:13pm Jan 23, 2012 4:13pm
Hi , Guyz

I know its not the right place to ask this but please help me out at-least i know there are real traders here.
I want to open a new account, i have been searching for the right broker for 2,3 days but its too confusing i havnt found even one without bad reviews .i dont know how accurate those reviews are .eg i find a broker but then i go to forex peace army and almost everyone is telling they are frauds ,this has been the case everywhere.

Please tell me a good broker.
My preferences are
1 where i can trade cfds(shares) aswell with forex
2 no dealing desk
3 no withdraws problems
4 fixed spreads ,less re-quotes and fast execution and reliable.

PLZ PLZ HELP ME OUT THANKS
MMMYYYKKK
  • #2
  • Jan 23, 2012 5:34pm Jan 23, 2012 5:34pm
Quoting myk
Hi , Guyz

I know its not the right place to ask this but please help me out at-least i know there are real traders here.
I want to open a new account, i have been searching for the right broker for 2,3 days but its too confusing i havnt found even one without bad reviews .i dont know how accurate those reviews are .eg i find a broker but then i go to forex peace army and almost everyone is telling they are frauds ,this has been the case everywhere.

Please tell me a good broker.
My preferences are
1 where i can trade cfds(shares) aswell...
Firstly:
Forex with fixed spreads == they are making the market, ie, dealing desk.
When trading CFD's == they are making the market, ie, dealing desk. (Any CFD you trade is done with your broker as the counter party. It's a 'contract for difference' with your broker, no one else. what the broker does on their end to hedge that risk is entirely up to them.)

You're asking for things that conflict with each other.





A few brokers do equity index CFDs, but not nearly as many do individual stock share CFDs.

CMCMarkets does individual shares CFDs a few markets around the world...

Though, I really don't see why people would trade shares through CFDs. The spread is usually wider than in the actual equity markets, there's financing costs, the commissions are usually bad, and the only two advantages you get can be had in more efficient trading vehicles...

You'd have a much easier time controlling your risk without the higher costs of trading share CFDs (while preserving the leverage I believe you're looking for) if you just learned Options.

(That or get a margin equity account at a prop firm where you put up the risk capital.)
FXGears.com
  • #3
  • Jan 23, 2012 6:15pm Jan 23, 2012 6:15pm
Quoting Jack_Larkin
Firstly:
Forex with fixed spreads == they are making the market, ie, dealing desk.
When trading CFD's == they are making the market, ie, dealing desk. (Any CFD you trade is done with your broker as the counter party. It's a 'contract for difference' with your broker, no one else. what the broker does on their end to hedge that risk is entirely up to them.)

You're asking for things that conflict with each other.





A few brokers do equity index CFDs, but not nearly as many do individual stock share CFDs.

CMCMarkets does individual...
Thanks for the reply i completely got you cfds have an advantage and that is leverage. and about fixed spreads i think its not dealing desk always eg: mb trading the difference is they add up costs (commissions) in spreads . thanks for your ans
MMMYYYKKK
  • #4
  • Jan 24, 2012 1:05am Jan 24, 2012 1:05am
Quoting myk
Thanks for the reply i completely got you cfds have an advantage and that is leverage. and about fixed spreads i think its not dealing desk always eg: mb trading the difference is they add up costs (commissions) in spreads . thanks for your ans
index cfd is unlimited in time index cash position

this is advantage what is interesting in index trading

and it has very low margin req.unlike it is for indiv. shares
  • #5
  • Jan 24, 2012 4:05am Jan 24, 2012 4:05am
Quoting alstural
index cfd is unlimited in time index cash position

this is advantage what is interesting in index trading

and it has very low margin req.unlike it is for indiv. shares
thanks yea i am getting your point anyway any broker you would recommend.
MMMYYYKKK
  • #6
  • Last Post: Jan 24, 2012 4:42am Jan 24, 2012 4:42am
Quoting myk
Thanks for the reply i completely got you cfds have an advantage and that is leverage. and about fixed spreads i think its not dealing desk always eg: mb trading the difference is they add up costs (commissions) in spreads . thanks for your ans
Mb trading don't have fixed spreads, take a look at TDFX.

Here are some broker comparison links:

http://www.forexfactory.com/showthread.php?t=332202

http://www.100forexbrokers.com/

http://www.fxintel.com/live/
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