Best BROKER, for me is Oanda, because I can trade, when the spread is not 10 pip ar eur / usd. I skip those few news / month,( like 10) and I enter in trade before news with a bit lower leverage as usually (and whiling to risk min 60- but 120 pip) or later with 40 pip SL, it depends on my mode, and previous news, fundamental analys.
Oanda is from 2 or 3 or Market Makers, who allows the trade side to be dynamic. For me it is an advantage, because I do prefer to use a fixed leverage ( around 8:1 , but between 5-10 :1) and my trade size to be dynamic.
Also it is an advantage for me: when I want to place a new order: it is a possibility to set the SL in pips, and price ( I set that first) than I see how much is the lost instant in tat case and I can compare with my balance: if is to high, than I will decrease the trade size, if to low than increase. Also this values are pre-filled, because it is set into "Preferences"
Also it takes time / patience to learn and struggle with they java software provided, but after a few years of usage you will learn the leak of software features. For me they mobile platform is so unfriendly as I use TeamViewer to connect to my netbook in most time, but only 1 mobile version I saw usable,others want software with minimal budget, and that has the result: minimal features, minimal usability...
To improve the user experience they made MT4 available. You have to create a "subaccount" and allow the MT4 for that. The god thing it is : you can connect with Java platform and MT4 at the same account.
If you do that, than you have multiple advantage:
- less risk for disconnect: if you are disconnected from MT4, than the Java is there. Somebody cried for to much disconnect on MT4.
- you can use MT4 to analys: do all custom indicators, expert advisors and whatever you want, and place a dynamic size trade at Java platform.
- from MT4 demo account offer a lot better rapport than the Demo version of they platform. - the only thing why I start MT4 sometimes
The live account at Oanda do offer nice statistics, really usable for me, but not available for demo! - so at Live to use MT4 is to reduce disconnect risk and have the same report.
The account opening procedure I don't remember it was it so horrible as at some other brokers: some asking to make a legal copy of your papes, than 100 more stupid thing... or they asking from where I have 500 $ - I told: I did his mother for that money, lol. Some asking my employer address and financial data, and can't be self employed ( which I am sometimes - or most of time) -just google it a small institution address if you want to complete it in an island. Some aren't serious, just asking paper to make you to walk and lose fat.
Also: if you made money and want to withdraw you can, do that account from which came from your money. It is a security, but not only for advantage: I don't know how it will be the withdraw, if I close the bank account, from where I have send the money! Make sure to ask they what happens if you want to fill from one of unused of bank accounts of you for various reason! There is a 20-30 euro or usd fee for withdrawal abroad, so play with at least 500$. I did withdraw from they.
When you send money it arrives to Oanda account as -I remember- and from there I needed to allocate to one of my sub accounts, where I was able to trade. I needed to send money with bank transfer and took 3-4 days , also need to pay the SWIFT ( another 20-30 euro) if you are transferring from abroad. In other bokers if arrives from my Visa card directly to trade account in 1 second.
For money transfer fees, try to be there with min 300$ even if they allows less.
The dynamical trade size it is not an advantage if you have enough balance!
If your broker allows microlot ( 1000 unit) and you have eg 10,000 in balance and / or want to trade at news time, than stay away from Oanda!
For beginners has a nice platform CMSFX ( VTTrader) for windows environment, but needed to rename and Audio folder, because no other way to mute the platform! If you listen music, radio, once a big PIINNG in your ears, what a funny platform! They live support is great, helpful, but they prices ( spread) was to high 3 or even 4 pip. Now at hey website it is "Competitive spreads as low as 0.9 pips" but a few years ago it was 3 or 4 pip and Oanda had the 0.9 pip, I was a scalper so I moved to Oanda and lert the Oanda platform.
MBTading has an unbelievable wrong / buggy platform when I have checked (few years) and also they are/were very funny at registration process, but has ECN account and some of ppl are happy with they.
- I hadn't patience to learn they C or .net ? based platform, also I like Java to use it in mac/linux too and that is why I skip the only mt4 brokers: fxdd, alpari.
Dukascopy, if you have around 50k and a lot patience at registration: they offer a good platform, and acceptable price, IF you have deposited 50k, under 5k are to expensive(for me at least). From some balance up they offer bank guarantee for your money, but that isn't at few hundred / thousands:
http://www.dukascopy.com/swiss/engli...ading_accounts.
Watch out : they commission depends on your balance!!!
I will stick with OANDA as broker until no reason to leave, and will blame they platform until has reasons, and has a lot
If / when I will have around 100k usd probably I would try move to Dukas, but need to take couple of box of sedative to open an account at they, of I will pay somebody to make an account for me
Oanda is from 2 or 3 or Market Makers, who allows the trade side to be dynamic. For me it is an advantage, because I do prefer to use a fixed leverage ( around 8:1 , but between 5-10 :1) and my trade size to be dynamic.
Also it is an advantage for me: when I want to place a new order: it is a possibility to set the SL in pips, and price ( I set that first) than I see how much is the lost instant in tat case and I can compare with my balance: if is to high, than I will decrease the trade size, if to low than increase. Also this values are pre-filled, because it is set into "Preferences"
Also it takes time / patience to learn and struggle with they java software provided, but after a few years of usage you will learn the leak of software features. For me they mobile platform is so unfriendly as I use TeamViewer to connect to my netbook in most time, but only 1 mobile version I saw usable,others want software with minimal budget, and that has the result: minimal features, minimal usability...
To improve the user experience they made MT4 available. You have to create a "subaccount" and allow the MT4 for that. The god thing it is : you can connect with Java platform and MT4 at the same account.
If you do that, than you have multiple advantage:
- less risk for disconnect: if you are disconnected from MT4, than the Java is there. Somebody cried for to much disconnect on MT4.
- you can use MT4 to analys: do all custom indicators, expert advisors and whatever you want, and place a dynamic size trade at Java platform.
- from MT4 demo account offer a lot better rapport than the Demo version of they platform. - the only thing why I start MT4 sometimes
The live account at Oanda do offer nice statistics, really usable for me, but not available for demo! - so at Live to use MT4 is to reduce disconnect risk and have the same report.
The account opening procedure I don't remember it was it so horrible as at some other brokers: some asking to make a legal copy of your papes, than 100 more stupid thing... or they asking from where I have 500 $ - I told: I did his mother for that money, lol. Some asking my employer address and financial data, and can't be self employed ( which I am sometimes - or most of time) -just google it a small institution address if you want to complete it in an island
. Some aren't serious, just asking paper to make you to walk and lose fat.Also: if you made money and want to withdraw you can, do that account from which came from your money. It is a security, but not only for advantage: I don't know how it will be the withdraw, if I close the bank account, from where I have send the money! Make sure to ask they what happens if you want to fill from one of unused of bank accounts of you for various reason! There is a 20-30 euro or usd fee for withdrawal abroad, so play with at least 500$. I did withdraw from they.
When you send money it arrives to Oanda account as -I remember- and from there I needed to allocate to one of my sub accounts, where I was able to trade. I needed to send money with bank transfer and took 3-4 days , also need to pay the SWIFT ( another 20-30 euro) if you are transferring from abroad. In other bokers if arrives from my Visa card directly to trade account in 1 second.
For money transfer fees, try to be there with min 300$ even if they allows less.
The dynamical trade size it is not an advantage if you have enough balance!
If your broker allows microlot ( 1000 unit) and you have eg 10,000 in balance and / or want to trade at news time, than stay away from Oanda!
For beginners has a nice platform CMSFX ( VTTrader) for windows environment, but needed to rename and Audio folder, because no other way to mute the platform! If you listen music, radio, once a big PIINNG in your ears, what a funny platform! They live support is great, helpful, but they prices ( spread) was to high 3 or even 4 pip. Now at hey website it is "Competitive spreads as low as 0.9 pips" but a few years ago it was 3 or 4 pip and Oanda had the 0.9 pip, I was a scalper so I moved to Oanda and lert the Oanda platform.
MBTading has an unbelievable wrong / buggy platform when I have checked (few years) and also they are/were very funny at registration process, but has ECN account and some of ppl are happy with they.
- I hadn't patience to learn they C or .net ? based platform, also I like Java to use it in mac/linux too and that is why I skip the only mt4 brokers: fxdd, alpari.
Dukascopy, if you have around 50k and a lot patience at registration: they offer a good platform, and acceptable price, IF you have deposited 50k, under 5k are to expensive(for me at least). From some balance up they offer bank guarantee for your money, but that isn't at few hundred / thousands:
http://www.dukascopy.com/swiss/engli...ading_accounts.
Watch out : they commission depends on your balance!!!
I will stick with OANDA as broker until no reason to leave, and will blame they platform until has reasons, and has a lot
If / when I will have around 100k usd probably I would try move to Dukas, but need to take couple of box of sedative to open an account at they, of I will pay somebody to make an account for me
I want to buy PATIENCE
