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What are we all looking for from a Broker

  • #41
  • Dec 4, 2013 4:05am Dec 4, 2013 4:05am
Quoting tradethefx
Hi Takisd, I agree that most of the brokers pay a certain fee for liquidity however, I don't believe that they pay pay $10+ per million. For example, FXTM offers an account that charges only $20 to $5 per million. If they pay for the liquidity $10 per million then they do not profit from the clients on those accounts. You can argue of course that they can manipulate the spreads and they don't show to their clients the true spreads they received from their liquidity providers. Or, you can say that they probably don't cover their clients trades. For...
I dont even know who FXTM is. So I assure you that the majority of their volume is not hitting the market, hence the cheap rates.

Volume talks in the FX market, LP's want volume if you don't have the volume then you will pay premium for liquidity.
  • #42
  • Dec 4, 2013 9:54am Dec 4, 2013 9:54am
Quoting tradethefx
For tradingboy, I believe that you have provided us only with the companies that offer ECN/STP conditions in a relatively small deposit requirement. Maybe we need to contact those brokers and ask them if they can offer those conditions to all their clients.
Tradethefx, if I understand the question correct I chose brokers that had ECN/STP accounts available but a lot of them only offer the conditions I listed if they made a substantial deposit. A lot on the list offer market maker accounts with very low deposits but some offer ECN/STP account with low deposit levels too.
The bottom line is that some brokers want deposits of $10k - $100k to get these ECN/STP trading conditions with low spreads, however some on the list offer the same conditions with very low deposits.
  • #43
  • Last Post: Mar 5, 2014 4:31pm Mar 5, 2014 4:31pm
Quoting tradethefx
Hi mmaker, I am not looking for the best broker because I know very well that such a Broker does not exist.
That is right, there is no perfect broker in the market. But there are those we can work with and still make good trades, all we do need is make the right choice, though it may not be easy to do but we should remove perfection from our minds when doing that. I would not say the broker am currently with is 100% right, but am thoroughly enjoying their services, very nice customer agent representatives. Very polite as I was asking a lot of questions.
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