Best Broker(s) for Automatic Trading?

Hello Folks,
Please suggest me the 'Best' Brokers available which allow:

1. Automated Trading without any 'Restriction'.
2.'Regulated', thus I don't need to think about 'SCAM'.
3. Minimal Spread.
4. Payment processor- Skrill.
5. Small Deposit Allowed.

Thanks

Hi,

Some things don't go together in what you're asking: Regulated and Skrill for example. If it's in Europe or US, that's impossible, regulators don't want a broker to propose this kind of funding/withdrawal method. If it's a Mauritius, NZ or Australia, I guess it's possible. (Not sure about NZ/Australia)


And some good solutions require a not too small deposit. Like LMAX for example, it's $10K minimum.

It depends on the platform you want too: do you want MT4 or are open to somehing else? Another example is Dukascopy, but no MT4 (or with an external provider), but definitely ok for all your other criterias (including small deposit)

Last thing: Are you OK to pay a commission not included in spread ? (The 2 above examples: LMAX and DUKASCOPY do have a commission)

If, as I guess, it's MT4, no commission, not limited to 50:1 leverage (US), let's say PEPPERSTONE or HOTFOREX.

That bit about Skrill and regulation doesn't make sense. Skrill is a UK company that is itself regulated by the FCA and is allowed to operate in the EU. E.g. Pepperstone in AU is regulated by ASIC and SVS in the UK is regulated by FCA. Both accept Skrill.

Thanks.
You got it Absolutely Right.
I'll check them out for sure.

I think excel markets isn't bad. I use them, so far no tricks.

One of the best broker I had (mt4).

Pepperstone, you can forget it. They trick with gaps and disconnections.

You can find out Skrill & regulated brokers list here, I am also using Skrill for trading Forex.
http://forextrading100.com/moneybookers/

You are right on many points, especially the one telling that it doesn't make any sense (if only it was the only thing to not make sense)
Maybe I'm wrong, but it is what BROKERS told me (or maybe it was wrong), but it always seemed to be correct with all brokers I saw around.
About Pepperstone, maybe it's because their MAIN regulator is AU ? (Not even sure, maybe they have 2 separate companies)

Have a look at the list "Undergroundz" posted. Cyprus regualted broker seem to have no problem to accept it. But do you see any broker regulated by a main EU regulator ?

And last point (maybe this is the case with Pepperstone ?), some brokers advertise accepting Skrill, but it will ONLY be for customers OUTSIDE EU. I know for sure that this is the case of AVAtrade for example (which put non-EU customers with a non-regulated island company, so explains why they can use Skrill)

And very last point, there may be some confusion with (the former) Liberty Reserve, which was unregulated. Confusion about what have been told to me (like Skrill = eWallet = Liberty Reserve = Banned) or stup!d rule by regulator (All "eWallets" banned, to avoid LR in the past, or other like WebMoney and co). You are correct that Skrill is regualted by FCA and checks the ID of customers (which is one of the main issue pointed out by regulators with the others, the fact that there is no name check: On opening of accounts, and when you wire funds to (there is no rejection if recipient name is incorrect)). Just thinking that this may be why Skrill would be banned by regulators if it is indeed correct. And you could answer me that it is stup!d too, as almost every bank wires are NOT rejected when recipient name doesn't match, but it is supposed to in theory...

I am a Pepperstone customer since a while. I wouldn't allow myself to recommand a broker where I am not trading my own money since a decent time.I am NOT experiencing any issue with them, and not what you're pointing out. The only points I would have against them is their withdrawal charge (I hate this, but it's not too big either.) And customer support which might be not so great. I mainly HEARD this. I only tried to reach them once by using their contact form on their website, and after having no answer 1 week later, I went to the live chat where they said to me something like: "Oh yeah, the contact form isn't working right now ..." But you were getting a confirmation message saying your message was correctly sent when posting. A little bit unfortunate, but that was MY only contact with customer service.

About EXCEL MARKETS, I never was with them, but only heard good things about them (not any bad in any case). And I would definitely trust hem as the people behind this broker are the same guys that are running a well known rebate website that I'm using and always went almost perfect. Rebates reported on the beginning on each month, paid automatically on time, good support... So this may be a good broker to check out too when wanting MT4, a low deposit and no commission. When I checked, their swap where pretty correct too (ThinkForex ones are just horrible for example)

BTW, I would recommand to use a rebate service before opening the account, it's always a great thing to get a portion of the spread back, and with time, it make a nice little amount. I have a affiliate link with one, that I would rate as really good, and will difinitely apreciate if anyone PM me to ask it !

Hi, I use XGLOBAL Markets and Axitrader, both of which should meet your requirements:

XGLOBAL
1. They allow automated trading and have told me there are no restrictions on my strategies
2. They are CySEC regulated and FCA/BAFIN registered
3. Their spread is 0.8pips minimum on EURUSD and USDJPY although its usually around 1.2 as its floating (you need to check if your EA is OK with that)
4. They accept Skrill
5. They dont have a minimum deposit level

Axitrader
1. They allow automated trading with no restrictions
2. They are Australian regulated and a big name
3. Their spread is floating 0.6 - 1.8 pips
4. They accept Skrill
5. Their minimum deposit is $200

The best broker a ever trade is Swissquote Bank. I have also tried Dukascopy the spread is good, but slippage, so you do not actually trade with low spreads, you trade with typical spread of 2-3 pips plus you pay commission. My experience with FXCM was also not so bad, but Swissquote pricing is better.