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Broker with zero Freeze and Stop Level

  • #1
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  • First Post: Apr 23, 2012 2:32am Apr 23, 2012 2:32am
Hi just want to ask around if there is any broker with zero freeze level and stop level? As i change my stops and pending orders very frequent and tight, my current broker needs at least 5pips away from the market price to place my orders or stops, as i trade with renko 5 i need something tighter is there any recommendations?
  • #2
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  • Apr 23, 2012 3:08am Apr 23, 2012 3:08am
Hi not sure if this is what you are looking for, the broker i am using althought spread are normal Eu 1.5 to 2 but they dont have like what you say 5pips requirement for pending orders, i can also set my pending stops any where. i am a scalper and i trade at S/R areas, execution is ok but for me most important is the SL and felxibility of where to set it, sometimes i have to set pending 2 or 3 pips above or below the market price yups this helps a lot.
  • #3
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  • Apr 23, 2012 3:23am Apr 23, 2012 3:23am
Yes this is something that i am looking for what broker are u using?

First thing is it reliable?

have you had any problems with cashing out?

how long have you been with the broker?

Is it license? where is it?

Sorry for asking so much, but i am serious in getting a broker which is more reliable and easy fund out. Can you let me know which broker is it? i can do the research myself.

Thanks
  • #4
  • Quote
  • Apr 23, 2012 3:37am Apr 23, 2012 3:37am
i am using starfishfx as my broker sorry but i am not very sure your standard for reliable as it was recommended by a friend when we started trading together.

I am a parttime trader so i dont cash out very much as my profits are small i have a 10k account when i started with them and i cash out maybe once every 2 to 3 months depending on my profits, usually when i have 10 to 20% profit i will cash them out.

Cashing out usually takes 2 to 3 days but weekends takes abit longer. so far so good Recently they tied the trading account to a mastercard which you can transfer your profits to your card and you can use it like a credit card that made the withdrwal for me even easier as i travel a lot haha.

Their website is www.starfishfx.com you can take a look if you are interested.
  • #5
  • Quote
  • Apr 23, 2012 4:02am Apr 23, 2012 4:02am
Thanks for the information. i have check out the website and realized that they can choose between fixed and variable spreads. They had on the website that they have spreads as low as 1.5 for the fix spreads is it true? if not for variable will it widen during news or special occasions?
  • #6
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  • Apr 23, 2012 4:54am Apr 23, 2012 4:54am
i am using fixed lot now i am fixed at 2 but my friend as a VIP got 1.5... sad that my account is not big enuff yet hahaha but i used to be using variable and yes the spread does widen but biggest i have seen is still 2.5 then i enquire to switch to fixed spreads as i just want to focus on trading and not on the spreads.

i dont really think starfishfx is still a very big broker because they are very supporttive haha maybe thats what they need to gain customers confidence and i really like that.

hmm other then that i dont think i have much to offer but i would be interested in your strategy haha
  • #7
  • Quote
  • Apr 23, 2012 5:05am Apr 23, 2012 5:05am
hey daemon i have the same problem with you, as i trade using signals from another platform and take entries on the other sometimes i am unable to move the stoploss to my desired level while trailing due to 5pips stop level. when the signal broker already have 15pips i should move my sl to 10 pips but because it is only 13 pips on my trading account i cant move it to 10 pips due to such situations. And if it retrace i can only earn 8 pips instead of 10 pips... guess that is my broker's way to make me earn less!!

cool is there any minial fund in?

what is the minial lot to trade?
  • #8
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  • Apr 23, 2012 6:29am Apr 23, 2012 6:29am
Hi i think 1k will be ok cause i started with 1k before i fund in more want to try the fund in and fund out process first only after comfortable then i decided to put in more, they can trade 0.1 too i do 0.1 sometimes to trade something out of my strategy.

you can try their demo first then try a live 1k? not sure if there are other brokers that offer zerostop level. I tired other brokers but so far only starfishfx offers zerolevel stops.
  • #9
  • Quote
  • Apr 23, 2012 6:46am Apr 23, 2012 6:46am
Quoting daemonw
Hi just want to ask around if there is any broker with zero freeze level and stop level? As i change my stops and pending orders very frequent and tight, my current broker needs at least 5pips away from the market price to place my orders or stops, as i trade with renko 5 i need something tighter is there any recommendations?
Take a look at this spreadsheet here. It shows stop levels for various brøkers
  • #10
  • Quote
  • Apr 23, 2012 6:59am Apr 23, 2012 6:59am
Quoting rooicol
Take a look at this spreadsheet here. It shows stop levels for various brøkers
Nice Thanks Rooicol i always thought most brokers are the same after i tired a few and they all have min distance for stop. i always wanted to try onada and duska i have always heard they are not bad too
  • #11
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  • Apr 23, 2012 10:04pm Apr 23, 2012 10:04pm
startfishfx it´s not a regulated broker, so avoid.
  • #12
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  • Apr 23, 2012 10:52pm Apr 23, 2012 10:52pm
Hi how do you check if it is regulated? i have just checked and they have a New Zealand License is that not enough?
  • #13
  • Quote
  • Apr 24, 2012 5:53am Apr 24, 2012 5:53am
Hi daemonw,

First chat with the broker and ask him two or three questions.

Are you regulated, and where, and in which register number.

Only by how they respond, immediately gives you a clue.


Emma says:
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User says:
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User says:
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User says:
but the minimum is?
User says:
are you in uk?
User says:
are you register in fsa?
Emma says:
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User says:
yes
Emma says:
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And we only use the latest encryption technology to make sure all your transactions are 100% private and secure!!!
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but i want to know the minimum to popen an account please
User says:
to open
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User says:
but i´m chatting with you and you don´t give me the anwsers
User says:
answers
Emma says:
Sorry about that, I don't really know... I'm not sure about that
Emma says:
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[Chat ended]
  • #14
  • Quote
  • Apr 24, 2012 10:57am Apr 24, 2012 10:57am
Emma says:
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User says:
are you a bot?

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haha this is actually a sales bot it wont be intelligent enough to answer the questions. Anyway you said regulated is it by NFA or another body? cause i would like to enquire them too
  • #15
  • Quote
  • Apr 25, 2012 4:50am Apr 25, 2012 4:50am
Quoting daemonw
haha this is actually a sales bot it wont be intelligent enough to answer the questions. Anyway you said regulated is it by NFA or another body? cause i would like to enquire them too
Its not regulated at all. The only difference between New Zealand and Mauritius or Seychelles etc.. is that there is a financial complaints authority like the Australian Financial Obudsman.

I would have thought the sales pitch offering "Huge Bonuses!" would have put the red flag up for you.

My guess.... another russian bucketshop.
  • #16
  • Quote
  • Apr 25, 2012 12:06pm Apr 25, 2012 12:06pm
Quoting daemonw
Hi just want to ask around if there is any broker with zero freeze level and stop level? As i change my stops and pending orders very frequent and tight, my current broker needs at least 5pips away from the market price to place my orders or stops, as i trade with renko 5 i need something tighter is there any recommendations?
Try FXCC. Download their demo and test them. I used them myself and have no problem at all. Best of luck!
  • #17
  • Quote
  • May 10, 2012 3:08am May 10, 2012 3:08am
Quoting daemonw
Hi just want to ask around if there is any broker with zero freeze level and stop level? As i change my stops and pending orders very frequent and tight, my current broker needs at least 5pips away from the market price to place my orders or stops, as i trade with renko 5 i need something tighter is there any recommendations?
If you think about it, it is impossible to have a strop loss order with zero pips behind the markets, because you order will be triggered immediately. I trade with sunbirdfx and I can put 3-4 pips away but not zero, this does not exit.
  • #18
  • Quote
  • Last Post: May 10, 2012 3:28am May 10, 2012 3:28am
Quoting daemonw
Hi just want to ask around if there is any broker with zero freeze level and stop level? As i change my stops and pending orders very frequent and tight, my current broker needs at least 5pips away from the market price to place my orders or stops, as i trade with renko 5 i need something tighter is there any recommendations?

Look at FxPrimus

SL on majors almost no limits (i use 2pips for bots) and its v good for pending oreders (its ECN/STP but no slippages)

Im skalping with pending orders - and EA is moving SL to orders - even 10 or more times in 1 minute. Tested over 20 top brokers during 5yrs and i can say this one is best one for sure for pending orders.

Also v good spreads on end/open of market and dead hours
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