Looking for Reliable broker to trade DAX 0.01 lots | Forex Factory

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Looking for Reliable broker to trade DAX 0.01 lots

  • #1
  • First Post: Feb 16, 2016 6:15am Feb 16, 2016 6:15am
As the title says, I'm looking for Reliable broker to trade DAX 0.01 lots... I know Oanda provides this but they have really small leverage (1:50) and really high margin requirements. Any help would be appreciated. I'm testing my EA so preferably an ECN broker (not trading against you and without requotes).
  • #2
  • Feb 16, 2016 8:00am Feb 16, 2016 8:00am
Oanda is very good broker in terms of capital safety. Dukascopy could be good alternative .
Patience is best EA in Trading
  • #3
  • Feb 16, 2016 8:14am Feb 16, 2016 8:14am
Quoting rosyfx
Oanda is very good broker in terms of capital safety. Dukascopy could be good alternative .
Thanks for the idea. I opened an account with them a while ago and tried their offerings but I don't like them. Also they don't have mt4, just the bridge which is a nuisance.
  • #4
  • Feb 16, 2016 9:48am Feb 16, 2016 9:48am
Quoting happyhappy
{quote} Thanks for the idea. I opened an account with them a while ago and tried their offerings but I don't like them. Also they don't have mt4, just the bridge which is a nuisance.
That's not an issue . Try to open account with a broker provides Newyork closing charts , put some bucks and use their charting in Mt4 and when opportunity comes trade in Oanda simple.
Patience is best EA in Trading
  • #5
  • Feb 16, 2016 12:33pm Feb 16, 2016 12:33pm
You cannot get 0.01 on the DAX at any broker. I did the exercise some time ago.​
Let me know if you do find a broker who offers it. I doubt.
Never Ever Give Up!
  • #6
  • Feb 16, 2016 12:45pm Feb 16, 2016 12:45pm
Quoting Cobra
You cannot get 0.01 on the DAX at any broker. I did the exercise some time ago.​ Let me know if you do find a broker who offers it. I doubt.
Here you go

Inserted Code
http://www.agea.com/index.ncre?page=platform-services
Patience is best EA in Trading
  • #7
  • Feb 16, 2016 1:06pm Feb 16, 2016 1:06pm
Quoting rosyfx
{quote} Here you go http://www.agea.com/index.ncre?page=platform-services
​Thx Rosy
It seems like they are offshore......
If they are not regulated in the UK i will not trade with them....
Micro lots on the dax with a UK broker is what i am interested in.
Never Ever Give Up!
  • #8
  • Feb 16, 2016 1:20pm Feb 16, 2016 1:20pm
Quoting Cobra
{quote} ​Thx Rosy It seems like they are offshore...... If they are not regulated in the UK i will not trade with them.... Micro lots on the dax with a UK broker is what i am interested in.
What about US-regulated? Not arguing I'm just curious if you're okay with CFTC or other US regulations? My general rule is if it's regulated in a developed country it's generally okay.
Holy grail: risk management
  • #9
  • Feb 16, 2016 1:38pm Feb 16, 2016 1:38pm
Quoting Cobra
{quote} ​Thx Rosy It seems like they are offshore...... If they are not regulated in the UK i will not trade with them.... Micro lots on the dax with a UK broker is what i am interested in.
No regulations are sufficient if you are not resident. Otherwise its difficult to move other country to fight legal battle with broker. If someone have good funds 10000$ + he/she should trade with Banks who facilitate forex trading.

Other way USA have good protections for small to big traders. But not every country have access to trade USA brokers( Money makers / non makers).

Considering other regulations are paper regulations, if broker start scamming no action favored retail investors so far i seen. I forgot to mention russian brokers are worst among others.
Patience is best EA in Trading
  • #10
  • Feb 16, 2016 2:44pm Feb 16, 2016 2:44pm
Quoting Cobra
If they are not regulated in the UK i will not trade with them.... Micro lots on the dax with a UK broker is what i am interested in.

I am waiting for Atom8 to re-introduce Energy and CFDs. They are an ECN (FCA regulated). If you are a UK resident, it can be a spread betting account type on ECN.

Atom8 had Energy and Indices CFD until Dec 2015 on their MT4. It had better spreads than their other account type, which is a white label of DC.
  • #11
  • Feb 16, 2016 2:57pm Feb 16, 2016 2:57pm
Quoting johny1
{quote} I am waiting for Atom8 to re-introduce Energy and CFDs. They are an ECN (FCA regulated). If you are a UK resident, it can be a spread betting account type on ECN. Atom8 had Energy and Indices CFD until Dec 2015 on their MT4. It had better spreads than their other account type, which is a white label of DC.
Thanks for the tip Johny1, I haven't heard of Atom8 until now. I'll put it on my calendar to check on them later. Personally, I'm not concerned so much with regulation, rather a positive track record with lots of satisfied clients, little to no negative feedback and MT4 with DAX 0.01 minimum lots..
  • #12
  • Feb 16, 2016 4:02pm Feb 16, 2016 4:02pm
Quoting rosyfx
{quote} Here you go http://www.agea.com/index.ncre?page=platform-services

Thanks for trying Rosy. I just chatted with Agea and they said "Sorry, we do not provide those instrument to trade at the moment Our liquidity provider stop CFD service, CFD is untradable for now, please contact us in future to check if it is enabled. "

I see that they are a pretty tiny broker http://www.myfxbook.com/forex-broker-volume but I'm not too concerned as I only plan to put in a few hundred dollars to test my ea and then I will trade it with my preferred broker at 0.1 lots.. I'm just looking for a 0.01 lot broker for the DAX that I can test my ea on and won't scam me.

Oanda would work but they want $2800 CAD margin to trade a 0.01 lot on DAX which is a bit ridiculous..
  • #13
  • Feb 16, 2016 11:50pm Feb 16, 2016 11:50pm
Quoting rosyfx
{quote} No regulations are sufficient if you are not resident. Otherwise its difficult to move other country to fight legal battle with broker. If someone have good funds 10000$ + he/she should trade with Banks who facilitate forex trading. Other way USA have good protections for small to big traders. But not every country have access to trade USA brokers( Money makers / non makers). Considering other regulations are paper regulations, if broker start scamming no action favored retail investors so far i seen. I forgot to mention russian brokers...

​I do Not agree.
I was in the Alpari debacle. I had a 35K account with them and i received all my money.
It is yet to be seen if a Cyprus, Russian or "other" broker will return all funds in case of a disaster.
UK regulation is not just a paper regulation. It is governed by strict laws.
I will not open an acc outside the UK. I am South African.
Never Ever Give Up!
  • #14
  • Feb 17, 2016 1:45am Feb 17, 2016 1:45am
Quoting Cobra
{quote} ​I do Not agree. I was in the Alpari debacle. I had a 35K account with them and i received all my money. It is yet to be seen if a Cyprus, Russian or "other" broker will return all funds in case of a disaster. UK regulation is not just a paper regulation. It is governed by strict laws. I will not open an acc outside the UK. I am South African.
Alpari Uk had a Good brand image . If you have close look Alpari US Llc was established in 2006. and It had its NFA membership approved in November 2007. The US company was closed and its retail clients moved toFXCM in October 2013. So considering its US connection this firm managed to build up actually segregated clients funds in Banks . I say actually since i dunno whether most of MM brokers actually have client segregated fund or virtual manipulated version of segregated funds in bank.

Alpari Group has registered its offshore company, Alpari Limited, in Saint Vincent and Grenadines in 2012 and if you hit their old website www.alpari.co.uk , you will be redirected to alpari.com website regulated by Saint Vincent and Grenadines and if contact via Live Chat button, chat operator will humbly say this is not the same company what we knew as Alpari.uk.
But fact is it is same company operated by different location under different regulations.

So as Alpari Uk had good brand image ( and USA connection history) and still this image intact as they refunded money of all Alpari Uk clients after CHF debacle.
But past performance not always necessary the indicative of future results. It cannot be established all UK based companies are safe and will return money in unavoidable debacle or self made scam. There are lot of UK Offshore brokers too who do not having actual base in mainland UK but in some islands own by British Government where regulatory norms are lax yet.

And 35k account( if $ or pound) as you said! I will prefer to trade with Banks with such amount NOT with any just Fx brokers.

Do you have any solid idea on alpari what we see now online?
Patience is best EA in Trading
  • #15
  • Feb 17, 2016 2:05am Feb 17, 2016 2:05am
Quoting happyhappy
{quote} Thanks for trying Rosy. I just chatted with Agea and they said "Sorry, we do not provide those instrument to trade at the moment Our liquidity provider stop CFD service, CFD is untradable for now, please contact us in future to check if it is enabled. " I see...
Hmmm..Unfortunately Agea stopped that temporarily . And Good broker ask Good margin and less leverage. Bad broker always need less margin and high leverage. But good brokers pay your money as well as profits you made in trading and rest always put your case in Anti fraud department of such broker (run by fraud department itself) while question of withdrawal comes. So if you are looking for less money deposit with high leverage you have to find out good brokers among bad brokers. Agea is tiny broker of Montenegro of serbia EU having online presence since 2005 or 2006. So far Agea okay but no assurance for future regulations .
Patience is best EA in Trading
  • #16
  • Feb 17, 2016 3:26am Feb 17, 2016 3:26am
Quoting rosyfx
{quote} Alpari Uk had a Good brand image . If you have close look Alpari US Llc was established in 2006. and It had its NFA membership approved in November 2007. The US company was closed and its retail clients moved toFXCM in October 2013. So considering its US connection this firm managed to build up actually segregated clients funds in Banks . I say actually since i dunno whether most of MM brokers actually have client segregated...
Under UK law an administrator will be appointed by a court of law. The administrator will give you a choice as to whether they ( the administrator) or the FSCS will handle your claim. It has got nothing to do with your brand name or connections Rosy. It is insurance money compensating you for your loss. Every UK company being underwritten by the FSCS and in good standing with them ( insurance premiums up to date) will be compensated.
Never Ever Give Up!
  • #18
  • Feb 17, 2016 11:28am Feb 17, 2016 11:28am
Quoting neeshamjames
Hidden
not encouraging ..

Inserted Code
Maintenance cost
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When a position is being held for more than 2 days, the system charges a maintenance cost that will be deducted from the balance. For full information on the maintenance cost, please see the table below:
[b]Currency Pairs[/b][b]Maintenance Cost($)[/b]
USDCNH-150
USDZAR, EURZAR, USDTRY, EURTRY, GBPTRY-60
USDPLN, EURPLN, USDNOK, EURNOK, GBPNOK, USDCZK, EURCZK, EURNZD, GBPNZD, USDMXN, EURSEK, EURDKK, GBPAUD-40
USDRUB-30
USDSEK, NZDUSD, NZDJPY, NZDCAD, NZDCHF, NOKJPY, NOKSEK-20
EURAUD, EURCHF, EURHKD, GBPDKK, GBPSEK, AUDUSD, AUDJPY, AUDCAD, AUDNZD, AUDCHF, AUDSGD-20
USDDKK, USDHKD, USDTHB,  EURJPY, EURCAD, EURSGD, GBPJPY, GBPCAD, GBPSGD, CADJPY, CADCHF, CHFSGD-10
USDJPY, USDCAD, USDCHF, EURUSD, EURGBP, GBPUSD, GBPCHF, SGDJPY, XNGUSD, XBRUSD, XTIUSD, XAUEUR, XAGEUR-5
US500, US30, US2000, UK100, FRA40, GER30, EUSTX50, IT40, SPA35, AUS200 -3
*CFDs and forex are leveraged products that carry a high degree of risk to your capital and it is possible to lose more than your initial investment and account balance. You should only speculate with money that you can afford to lose. These investments may not be suitable for all investors; therefore, please ensure that you fully understand the risks involved and seek independent advice if necessary prior to entering into such transactions.
[url="http://finprotrading.com/live-trade-form/"]Open An Account[/url]
+44 20 3289 3467
 
[email][email protected][/email]
Patience is best EA in Trading
  • #19
  • Feb 17, 2016 11:30am Feb 17, 2016 11:30am
Quoting neeshamjames
Hidden

I have an account with Finprotrading, they're my main broker and I'm very satisfied. However, the lowest I can trade DAX is 1 contract which is about 1 USD per point. That's too expensive for testing my ea when my average stop loss is 40-50 points..
  • #20
  • Feb 17, 2016 11:33am Feb 17, 2016 11:33am
Quoting rosyfx
{quote} not encouraging .. Maintenance cost...
That's on the Islamic account only, they don't pay rollover cuz its not in alignment with their religion so Finpro charges them a maintenance cost.

Honestly Rosy, you're posts have not been very helpful..
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