News Trading Broker | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

news trading broker warning 67 replies

Best Broker For News Trading 2 replies

best news trading broker? 2 replies

Attachments: News Trading Broker
Exit Attachments

News Trading Broker

  • #1
  • First Post: Jul 26, 2006 12:00am Jul 26, 2006 12:00am
Hello

I'm searching for a good News trading broker, someone can help me ?
if I want to trade on news, I must use an ECN broker. Isn't it ?

How about MBTrading , Oanda, HotSpotFX, etc. Are they good for news trading and don't have a slippage ?

example:
1 minute before the volatile news happens, I'm usually put my order on limit +10 and -10 , and when the news is happen, my order isn't execute at the point that I want, but it is jump to +20 (if go up) or -20 if the price is go down, So I didn't get a maximum profit as I want (sometimes I'm getting loss because of this slippage), so I don't want like that.

I'm heard that if I'm using an ECN Broker this case will not happen, is it true ?

please help me about the good news trading broker that have no slippage and also instant execution.

I have heard that MBTrading have this feature, But I haven't try it. So I need your comments

Sorry, if this questions may be already mentioned on this forum, i'm a newbie on this forum, So I don't know.

thank you


Annie
  • #2
  • Jul 26, 2006 12:04am Jul 26, 2006 12:04am
Oanda is good for the order fills but they do widen the spreads.
Same Whore .... Different Dress
  • #3
  • Jul 26, 2006 12:10am Jul 26, 2006 12:10am
Quoting johnedoe
Oanda is good for the order fills but they do widen the spreads.
Oanda vs MBTrading. Which one is the best ? why ?

Thank you
  • #4
  • Jul 26, 2006 12:16am Jul 26, 2006 12:16am
I have been with Oanda about 1 1/2 years,I just recently looked at MB.....I was not that impressed with there spreads, and I just don't like their trading platform....bottom line I am biased, but it is because Oanda has been trouble free for me,
Same Whore .... Different Dress
  • #5
  • Jul 26, 2006 1:33am Jul 26, 2006 1:33am
Quoting annie_82
Oanda vs MBTrading. Which one is the best ? why ?

Thank you
Oanda has the reputation of being the best brokerage for news trading, period.

I've been using Oanda for a bunch of months now. I think they're very good.

J
  • #6
  • Jul 26, 2006 6:02am Jul 26, 2006 6:02am
How about the execution on oanda ?

Does Oanda no slippage and instant execution (no delay or re-quote) ?
so the pending order (limit) that I request can not miss ?

I've heard that MBTrading is fast, but I don't like their platform too (it's very difficult)

Oanda, I like their platform, But I don't want to disappointed again. Because I'm trading on news. So I want to make sure

Oanda is an ECN broker ?

Thank you
  • #7
  • Jul 26, 2006 7:49am Jul 26, 2006 7:49am
Quoting annie_82
How about the execution on oanda ?

Does Oanda no slippage and instant execution (no delay or re-quote) ?
so the pending order (limit) that I request can not miss ?

I've heard that MBTrading is fast, but I don't like their platform too (it's very difficult)

Oanda, I like their platform, But I don't want to disappointed again. Because I'm trading on news. So I want to make sure

Oanda is an ECN broker ?

Thank you
Ouanda ia not an ECN but is the closest you can get among non ECN brokers. Like all ECN it is normal that the spreads widens during news. It reflects the actual state of the offers of the banks at that moment.

Highway
  • #8
  • Jul 26, 2006 8:09am Jul 26, 2006 8:09am
Be careful, as retail brokers tend to spike up/down prices to hit stop losses.
  • #9
  • Jul 26, 2006 8:34am Jul 26, 2006 8:34am
During news releases prices seem to jump up and down several times before deciding on direction. Most dealing desk brokers will make it nearly impossible for you to enter a market order at that time, even tho their spreads remain fixed. An ECN will widen the spread equavalent to those up and down jumps shattering the window of market order entry & quick profit opportunity. (ex: if ECN spread is 3 pips during normal conditions, it can be 50 pips during news realease)
  • #10
  • Jul 26, 2006 9:54am Jul 26, 2006 9:54am
annie .... even though Oanda is not an ECN they are very close, tight spreads, fast exicution.

as to slippage...when a market is in high volitility and the price is moving very fast, it is unreasonable to think you are going to get filled at the push of a button, take into account how far that signal really has to travel in order to get to the servers and the time it takes the servers to see your order and execute it......still all in all Oanda has the best track record for fast fills and customer service I have seen yet. so moderate your expectations with reallity and you will be a much happier trader, not to mention profitable.

Also Oanda is fully automated so there is no dealing desk.
Same Whore .... Different Dress
  • #11
  • Jul 26, 2006 10:29pm Jul 26, 2006 10:29pm
I too share annies interest in finding a broker suitable for news trading...

I have been told MB trading do execute reliably 'market orders' in the heat of the news release...

however I have not been able to establish what their spreads are like at these times (immeadiately on and after the news announcement)

If anyone has had experience with MB tradings spreads at this time.. I would be very interested to hear of your experience...thanks.
  • #12
  • Aug 4, 2006 9:42am Aug 4, 2006 9:42am
Quoting nifty
I too share annies interest in finding a broker suitable for news trading...

I have been told MB trading do execute reliably 'market orders' in the heat of the news release...

however I have not been able to establish what their spreads are like at these times (immeadiately on and after the news announcement)

If anyone has had experience with MB tradings spreads at this time.. I would be very interested to hear of your experience...thanks.
Same here. Can anyone with a live MB account shed some light on this? I would really like to know what the spreads for eur and gbp were on mb this morning in and around NFP. And how reliable the fills are at the beginning of the initial spike.
  • #13
  • Aug 4, 2006 10:00am Aug 4, 2006 10:00am
Oanda spreads are getting bigger and bigger as of late. Today eur/usd got to 10 pip during NFP. That's a reccord for a release, but they will go higher in the future as more and more people are trading the news and blabbing about it on forums so the noobs all follow them.
  • #14
  • Aug 4, 2006 10:29am Aug 4, 2006 10:29am
Hello, I can recommend Interactive Brokers. They offer an ECN where your order will be represented. Unlike with Oanda (Oanda isn't a broker, but a market maker), you are not forced to use artificial bid/ask prices. Instead, you can improve bid or ask levels and wait for others to meet your offer. Even if you only plan to use market orders, the spread is rather narrow. During NFP release I didn't notice it widen to more than 3 pips, while the usual spread is 1.5 pips (minimum 0.5).
  • #15
  • Aug 4, 2006 10:32am Aug 4, 2006 10:32am
Quoting Bounty_Two
Hello, I can recommend Interactive Brokers. They offer an ECN where your order will be represented. Unlike with Oanda (Oanda isn't a broker, but a market maker), you are not forced to use artificial bid/ask prices. Instead, you can improve bid or ask levels and wait for others to meet your offer. Even if you only plan to use market orders, the spread is rather narrow. During NFP release I didn't notice it widen to more than 3 pips, while the usual spread is 1.5 pips (minimum 0.5).
Do you have a web link to them? Thanks.
  • #16
  • Aug 4, 2006 12:50pm Aug 4, 2006 12:50pm
IB is great IF you get filled. Other than that I'm not too thrilled about it, max 50:1 with no maintenance margin so it's more like 25:1 tradeable, all positions lumped into one and even that clumsily.

BookTrader is great for short term scalping, love it.
  • #17
  • Aug 5, 2006 12:36am Aug 5, 2006 12:36am
i am also looking for brokers to trade news releases. My question is about interactive brokers (IB), which are:

1) does this broker ever freeze up during new releases? Some brokers do lock up during releases, which can destroy a bank, not accept trades and ohter bad things.

2) How much can we start with inorder to trade with them?

3) Do orders fill up during news releases?

4) Have you had problems that you dont mind disscussing?

Thats about it, all my questions revolve around question 1. Thank you ahead of time.

- J
  • #18
  • Aug 5, 2006 9:31pm Aug 5, 2006 9:31pm
Oanda freez complitely during the news on Friday. GBP spread was 10 pips.
  • #19
  • Aug 6, 2006 2:18am Aug 6, 2006 2:18am
Quoting JBB
Oanda freez complitely during the news on Friday. GBP spread was 10 pips.
It happens, but they execute the orders.
Try hard, think fast, die young
  • #20
  • Aug 6, 2006 2:22am Aug 6, 2006 2:22am
Quoting dof
It happens, but they execute the orders.
For now, but the number of news traders is increasing because of threads like these.
0 traders viewing now