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Need to find a decent US forex broker

  • #21
  • Dec 8, 2012 12:15am Dec 8, 2012 12:15am
so far i am staying with forex.com
competitive spreads on all majors.
also an additional account with OANDA
Has anyone tried forex.com recently. appreciate feedback
thank you
  • #22
  • Dec 8, 2012 2:36am Dec 8, 2012 2:36am
Quoting shrike
I wouldnt accept 1.6 pips on EUR/USD in this day and age, thats outright uncompetitive. The only upside i see with Citi is funds protection. Personally i would probably choose Interactive Brokers if i had to pick an american firm. Low transaction costs and and they have spic protection too, if im not mistaken.
Looking for the best spread is just a waist of time. The most important of security of funds.
I can almost guarantee that all the named Brokers are about equal at the end.

It is impossible to compare the Spreads you "pay" between them. First of all the prices you see in
demo and real accounts are only "quoted Prices", so by just keeping track of that is useless. ...
To really compare you would need accounts in 2 brokers and make ..say about 100 entries and exits.
Totally 100% sincrhonize and of equal lots.. Would need to register the price they quote ( and because is a Des-centralize market will never be the same), and the price they fill your order... then and only then you would really know wich one is charging less spread.

Anybody that has not done that has only "an opinion".

The bottom line is that going after lower spreads is a waist of time. If someone can not make money paying 2 pips
spreads, most likely will not make money paying 1 pips or less.

Any strategy that require less then 2 pips, fast execution..no-requotes..bla, bla, bla IS NOT a good strategy.



J.
  • #23
  • Dec 8, 2012 2:46am Dec 8, 2012 2:46am
Used to be with Fx.whatever way back - lousy spreads and the same with Customer service which is why I walked out..
That was my only run in with Fx.whatever.com
  • #24
  • Dec 8, 2012 8:35am Dec 8, 2012 8:35am
Quoting jeuro
Looking for the best spread is just a waist of time. The most important of security of funds.
I can almost guarantee that all the named Brokers are about equal at the end.

It is impossible to compare the Spreads you "pay" between them. First of all the prices you see in
demo and real accounts are only "quoted Prices", so by just keeping track of that is useless. ...
To really compare you would need accounts in 2 brokers and make ..say about 100 entries and exits.
Totally 100% sincrhonize and of equal lots.. Would need to register the...
Minimize risk and max profit. With high spreads, Requotes and slow execution not good
  • #25
  • Dec 8, 2012 9:47am Dec 8, 2012 9:47am
Quoting Fx-gtg
Minimize risk and max profit. With high spreads, Requotes and slow execution not good

So.. what is your point?
Of course is better with lower spreads and good execution ( no-requote Brokers do not exist.. if they do not re-quote, it means
they are talking your order without covering their ass when no counter-party is found.. therefore your deposit is at risk).

My point is that it is impossible to compare. ... and if it impossible to compare why bother. My opinion was given to shrike as he think that paying 1.6 to CITi is too high. First.. who knows if what Citi ultimately charges 1.6 .. second How does he know if he is paying less with whatever he is trading?

See .. all we have is opinions. I can not advise nor know which one ultimately have better spreads... I think think are all very competitive..
So, as in the USA "forex" traders are not covered by the FDIC, it is wise to trade with the less-likely to fail and go BK and that is the end of the history.

J.
  • #26
  • Dec 8, 2012 3:11pm Dec 8, 2012 3:11pm
Oanda has horrible spreads during news releases. Citifx pro jumped to 7 pip spread EUR/usd on Friday, second worst . My former GFT mt4 account transferred to forex.com kept spreads reasonable low.
This coming week will decide to where a take my main account. Already funded oanda account.
  • #27
  • Dec 9, 2012 12:49am Dec 9, 2012 12:49am
Quoting Fx-gtg
all GFT accounts have been transfered to forex.com broker.

Welcome GFT Traders to FOREX.com!
Last Sunday, GFT made the business decision to cease supporting U.S. retail forex trading. We are pleased to announce that on Friday, December 7, 2012 your GFT account was transferred to FOREX.com. Your forex account has returned to normal status and you can trade forex markets normally.

Highlights of this transition:

You will be able to continue trading on the Dealbook platform or, if you're an MT4 trader, your MT4 platform.
Your trading history will...
Forex.com is a half-ass broker. they are not even in the same league as GFT. they are very unprofessional. I used to have an account with them.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #28
  • Dec 9, 2012 2:15am Dec 9, 2012 2:15am
Quoting Fx-gtg
Oanda has horrible spreads during news releases. Citifx pro jumped to 7 pip spread EUR/usd on Friday, second worst . My former GFT mt4 account transferred to forex.com kept spreads reasonable low.
This coming week will decide to where a take my main account. Already funded oanda account.
Fx-gtg:
I don't know why you do not understand the "real" forex market is like that. If there is no price, that is the end of history. That is why they
quote 2 prices...bid and ask. If at one moment on time no one in the whole world does not want to sell one specific currency at the current price
then the whole world would move their quotes to whatever price is found.

There is no magic in forex. NO ONE has a pile of the currency you want to buy laying around at the price you want at the moment you want.
The whole market is tick based almost 100% efficient.

Nowdays during news ALL major banks open their spreads...they simple want to make sure they are not trapped having to to sell cheaper then their cost. Why anyone would take orders and fill them at prices that are not available? That would be insane. I can guarantee you would not do it.

I assume you are new at this, but Oanda almost went broker some 8-9 years ago went some geeks came out with news release software
(that was new back then). Up to that point Oanda in good faith was filling all the orders during news but did not take long for the the masses to find out and people getting greedy placing orders by the millions during the NFP news.

If you do not want to pay those spreads Just don't trade during news.

Oanda, Citi, and some other brokers named are good brokers. They quote according to the real market and try to fill your order the best they can.
If anyone want lower spreads and no-requotes during news open an account with a scam broker somewhere. They have magic to get the currency at a price no one want to sell .

I don't know about Forex.com.. It was offered to my also when I was trading with Deutch Bank a few year back but I went another route ending
with Dukascopy Bank. Of course I have many good options as I live in Europe.

J.
  • #29
  • Dec 9, 2012 2:21am Dec 9, 2012 2:21am
tradestation forex
  • #30
  • Dec 13, 2012 10:29am Dec 13, 2012 10:29am
So far so good with both brokers. Goodbye GFT.
I have resumed trading and began being profitable again. Good pips ahead
  • #31
  • Dec 13, 2012 3:11pm Dec 13, 2012 3:11pm
Quoting Fx-gtg
So far so good with both brokers. Goodbye GFT.
I have resumed trading and began being profitable again. Good pips ahead
you did you go with
  • #32
  • Dec 13, 2012 5:11pm Dec 13, 2012 5:11pm
Quoting PoundTrader
you did you go with
Forex.com and OANDA
  • #33
  • Last Post: Jan 1, 2013 11:58pm Jan 1, 2013 11:58pm
Are you still happy with Forex.com ? Thanks... TJ

Quoting Fx-gtg
Forex.com and OANDA
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
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