What is the Best News Trading Broker

What is the Best News Trading Broker
Your participation and comments would be very much appreciated

alpari and go markets are quite good speaking from experience

Would suggest Alpari and Trader's Way, for daily/hourly analysis and some even provide access to third party news feeds,

thx a lot but can i know ur experience with them and what is the news trading strategy

thx a lot but can i know ur experience with them and what is the news trading strategy

Quite good so far, love the prices I get at Trader's Way and FXCM - Alpari is okay given the hourly news feeds and updates but for some reason, the spreads are not as small as I get elsewhere.
On the news front, prefer to trade on technical rather than fundamentals at least for the moment but I do get the very latest analysis etc.

there really is no 'best' news trading broker. all brokers' spreads will widen when the news come. if you really want to trade the news, i suggest going with a market maker that offers fixed spreads. fixed spreads are usually somewhere between 2-4 pips fixed for major pairs. the advantage of this is that when news break out, the spreads will be tighter than ECN brokers which can balloon up a lot more and also more costly once adding commission.

*note: it is not always the case that a fixed spread will be cheaper than floating.

I second what jhehe says regarding market makers tend to be better for news trading. Though I'm sure there are exceptions. I've been trading the news across a number of brokers - ATC, IBFX, FXDD, FinFX, MB Trading, FXCM, and most recently with these new guys M2 Forex. As a US trader my options are pretty limited... In addition to taking into account spreads I've been absolutely murdered by negative slippage at ATC, MB Trading, and FinFX. Back when FX Solutions had fixed spreads in the US I used them for awhile. So now I'm down to M2 and FXDD for news trading, neither are perfect but I guess you could say they're "the best of the worst".

wrong forum.

I am a news trader and have recent experienced consistent, double digit entry slippage with FinFX. For the recent HSBC Chinese PMI report, I had slippage of 21 pips. Just as a warning to other news traders, I would avoid them at all costs regardless of the increased leverage for US based clients.

Obviously I am in search of a new forex broker that offers good conditions for news traders. Forex2k10, you mentioned M2 and FXDD, how do they compare and which do you recommend? Out of curiosity have you ever news traded with Interactive Brokers (using MT4 via a bridge) or CitiFX? Thanks in advance

I don't like FXDD bec. when i had slippage they take money from the margin don't close the trade when the free margin finished the move to the margin and take from

i watched a webinar featuring anthony oropeza and basically talks on how he prefers fxdd and fxcm. after they fined for their practices, they are under a much watchful eye of authorities. with that said, the likliness for them to continue to scam clients is near 0 as they cannot afford another match with authorities. with that said, they will be going by the book which could be in your benefit.

I think no broker is good for news trading because there will be slippage all the time. So you should believe this as part of trading then you can choose the one having less slippage.

and what about margin call

Do you guys know about the following news trading site?: www.currencynewstrading.com

I registered and sent an email to the founders of the site to see if they could help (no response as of yet). Their news trading ea captures results of all news trades (demo and live) and puts the results on the forex brokers page. I wish I would have seen the results for FinFX before last week.

Anyway, there are several non-US brokers with good live results, but I don't think they accept US clients and I'm a bit gun shy to go with a non US broker after my experience with FinFX. Oanda also seems to have good results on the site.

does anyone here have personal and recent experience news trading with Oanda? Or for that matter Interactive Brokers or CitiFX?

@Nck12278 - I know exactly what you mean when you say you've seen double-digit slippage at Fin. The last NFP event was the last straw for me at FinFX. Regarding FXDD and M2: I've had an account with FXDD for awhile and only had an account for ~3 weeks with M2 Forex so it might not be the best barometer of how the fills are at M2 but so far I can vouch that (for the time being at least) their trading environment has been fairly consistent for news trading. Spreads do widen but I haven't gotten TONS of slippage like I have elsewhere. They're much more receptive to my emails than is FXDD. FXDD used to be tremendous for news trading but over the past 8 months or so I've started getting more and more requotes. Since FXDD has instant execution (versus M2 with market execution) there is virtually no slippage, I've just been hit with requotes and had to re-program my EA to handle requotes in place of slippage. I can't recommend one over the other right now, but can say they're both fairly decent considering that after all it is news events that we're trading.

I haven't used Interactive Brokers but would love to give them a shot, heard good things about them. I also haven't tried CitiFX so would be great if anyone else had experience news trading at Citi. I have used OANDA and had an alright experience, lately though their spreads have literally jumped to 20 on a few of the majors during news events making it much more difficult to end up profitable on most of my trades. I also haven't used Tradestation but was considering giving it a shot.

edit: Found the link to OANDA spreads during news, GBP/USD spiked to 17.20, 20.00: http://fxtrade.oanda.co.uk/why/spreads/recent#GBP-USD

What about margin call? That really depends on the broker and which conditions you are trading under. FXDD takes a bit of an unconventional approach by separating account types by trade terminals rather than some other specification such as deposits.

Anyways, if FXDD realizes that you are a profitable trader, they will matchmake your order with them, but also hedge alongside your position to offset risks. As for FXCM, not quite sure about them. However, FXDD does not offer fixed spreads.

if you want a broker that offers fixed spreads, I would suggest Instaforex with leverage up to 1000:1 and a 3 pip fixed spread on all major pairs. WorldWideMarkets isn't too far behind with 3 pip fixed spreads on major pairs except for a few which go up to 4 pips. However, WWM offers a bit more flexibility IMO as one has the option of using the web browser based flash/ iTrader rather than desktop MT4. The other benefit is tick scalping if that's you're thing when it comes to trading the news. the web trader can go as low as tick charts or one sec time frame.

Mayzus and fxopen can be considered for the news trading i have done this many times and did not have much problems. But sometimes when the trade context is very busy the requotes will kill my mind.

Hello!

My name is Brad and I work at FXCM. I wanted to share some thoughts that may (I hope!) help out: if you are going to be trading the news, you may want to find a way to enter Maximum Deviation or Market Range orders – these orders only allow execution within your specified range. For example, if you set an order to buy EURUSD at 1.3050 with 2 pip max deviation, you are saying that you only want execution at any price between 1.3048 and 1.3052.

Obviously if you are trading news you are probably expecting a large price change, and slippage can be an issue. Using the Maximum Deviation or Market Range orders may be able to help. The down side is that the order may not execute because the market price changed (outside of your specified range) before the trade could be executed. This is one of those risk/reward things that each trader should find their comfort with, or skip using completely. The choice is yours

Additionally, some EA’s are (or could be) coded to use Maximum Deviation with their orders as well. Just some food for thought!

Thanks and best of luck trading to all!

Brad

I just experienced a 20 pip slippage from tradersway <----another one that can be added to the list