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Loosing patience

  • #1
  • First Post: Apr 30, 2006 1:15pm Apr 30, 2006 1:15pm
Hi all. I'm new to the board. I'm getting kind of fed up with FXCM and would appreciate if you guys could please list better/your favs brokers. I used to really like them, but I'm tired of missing the spikes just because they decide to freeze up.

Thanks much
  • #2
  • Apr 30, 2006 1:17pm Apr 30, 2006 1:17pm
Quoting awcmon
Hi all. I'm new to the board. I'm getting kind of fed up with FXCM and would appreciate if you guys could please list better/your favs brokers. I used to really like them, but I'm tired of missing the spikes just because they decide to freeze up.

Thanks much

are you refering to a demo platform ... I understand they are less realiable than real money .... I use FXCM and have not had a problem ...
  • #3
  • Apr 30, 2006 3:17pm Apr 30, 2006 3:17pm
No - i'm on the live platform and in the beginning it was fine. but in the last month or so, there have been non stop freezing up and getting booted. then today i just found out they're going to start opening at 2:15 instead of 2:00 on sundays. I'd just like to expand my choices of brokers.

Has anyone heard of or have experience with FXDD?
  • #4
  • Apr 30, 2006 7:17pm Apr 30, 2006 7:17pm
Quoting awcmon
No - i'm on the live platform and in the beginning it was fine. but in the last month or so, there have been non stop freezing up and getting booted. then today i just found out they're going to start opening at 2:15 instead of 2:00 on sundays. I'd just like to expand my choices of brokers.

Has anyone heard of or have experience with FXDD?

-----------------------------------------------------

I have Demo account with FXDD, and so far so good. I was talking with broker from Man Financial about my future account, and he said they recommend fxdd for forex trading, it sounds strong and reputable company (but again, Refco was even bigger), they also mention they don't trade againt you. If any body with live account can give us a feed back about their experience, that would be great. Thanks
Issam
  • #5
  • Apr 30, 2006 8:32pm Apr 30, 2006 8:32pm
Try a ECN broker dude.


Here is something I found on goforex. (I use and love Oanda, but opening a ECN soon)

http://i2.tinypic.com/wv78rd.png
  • #6
  • Apr 30, 2006 10:13pm Apr 30, 2006 10:13pm
Quoting avlasov
Try a ECN broker dude.
If your operating with <$10k look at oanda. >$10k an ecn is what you want.

Both will allow you to effectivly trade the news.
  • #7
  • May 1, 2006 1:35am May 1, 2006 1:35am
Besides coesFX, what other companies are "ECN"?
  • #8
  • May 1, 2006 1:18pm May 1, 2006 1:18pm
Thanks all for this information. Wow - i didn't know fxcm was that far down. i am interested in fxdd. i tried to download it onto my desktop but it failed to load. i'm definitely going to try it again tonight.

just one question: how does a broker "trade against you"? I've seen people mention this on several different posts but i can't imagine how it is possible.

thanks again.
  • #9
  • May 1, 2006 1:38pm May 1, 2006 1:38pm
Quoting awcmon
Thanks all for this information. Wow - i didn't know fxcm was that far down. i am interested in fxdd. i tried to download it onto my desktop but it failed to load. i'm definitely going to try it again tonight.

just one question: how does a broker "trade against you"? I've seen people mention this on several different posts but i can't imagine how it is possible.

thanks again.
From what I get, they do stop running. Like you have put your stop loss, so when the market is illiquid and very less volumes, they try to spike the price to your stop loss point.

What is ECN broker?
  • #10
  • May 1, 2006 2:28pm May 1, 2006 2:28pm
Quote
Besides coesFX, what other companies are "ECN"?

Forex Brokers (ECN type models)

 

  2. CoesFx
  3. Hotspot FX
  4. Interactive Brokers
  5. MB Trading

  • #11
  • May 1, 2006 2:31pm May 1, 2006 2:31pm
Quote
What is ECN broker?


Unique brokers, that have an ECN where they get quotes from a number of sources. they dont trade against you either. execution, excellent. reliability, excellent. give them a try, you wont be disapointed.
Thank you merlin, for the great forum and all.

In other words, its sort of like trading Futures markets in the Spot world. Thats the way I like to describe it.
  • #12
  • May 1, 2006 3:12pm May 1, 2006 3:12pm
Quoting awcmon
Thanks all for this information. Wow - i didn't know fxcm was that far down. i am interested in fxdd. i tried to download it onto my desktop but it failed to load. i'm definitely going to try it again tonight.
I also had problems loading the fxDD platform, but then i tried their version of metatrader and that worked fine. If you do load MT4, i'm pretty sure the time zone is GMT +3 .. which strikes me as rather odd.. but good to know nevertheless!

Also i have heard that fxDD does not charge for wire transfers in or out.. anyone confirm this? i don't have a live account yet myself and can not find the information on their website.

thanks!

-nd
  • #13
  • May 1, 2006 3:32pm May 1, 2006 3:32pm
Quoting awcmon
Thanks all for this information. Wow - i didn't know fxcm was that far down. i am interested in fxdd. i tried to download it onto my desktop but it failed to load. i'm definitely going to try it again tonight.

just one question: how does a broker "trade against you"? I've seen people mention this on several different posts but i can't imagine how it is possible.

thanks again.

For every buyer, there must be a seller or you don't get filled.

Most Brkrs {not ECN} take the other side of all their clients trades.
In other words. If you are Long EUR/USD, then the Brker is Short EUR/USD on the other side of your trade.
Coincidentally, If I am Short EUR/USD, then the Brker is Long EUR/USD on the other side of my trade.

So, the brker can tell whether he is Net Long or Net Short EUR/USD and may be tempted to Run the Stops in his favour. Remember that the brker is the Market Maker and it is he who decides where the bid and ask are.
  • #14
  • May 1, 2006 5:23pm May 1, 2006 5:23pm
does Oanda trade against us?
JOHN 3:16
  • #15
  • May 1, 2006 7:31pm May 1, 2006 7:31pm
because fxcm support to fund via Credit card online !
  • #16
  • May 1, 2006 7:45pm May 1, 2006 7:45pm
Quoting adam3000
because fxcm support to fund via Credit card online !
FXCM is just fine for swing and position trading.

However
just from past experience, I would Not do FXCM with my Day Trading/ Mid Scalping




Alex from Philly
  • #17
  • May 1, 2006 8:21pm May 1, 2006 8:21pm
avlasov, which broker do you use to day trade?
  • #18
  • Last Post: May 1, 2006 9:29pm May 1, 2006 9:29pm
Quoting peas
avlasov, which broker do you use to day trade?
Hi Peas,
Now I use Oanda.

However, I am moving to ECN type brokers like MB Trading.
You can find more info on ECN brokers from my post History.


MOST IMPORTANT


Its YOU, the system YOU have. Dont blame the Brokers. Brokers play a way smaller role in trading when compared to what you bring to the table.
Many failed traders like to blame the brokers...
-BS- All I have to say.
You never hear good traders blaming the Brokers.



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