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Help me choose between these two brokers please 13 replies

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First time with real money and I need help to choose between 3

  • #41
  • Jul 21, 2016 5:06pm Jul 21, 2016 5:06pm
Quoting Noorx
As usual, Forexia talking crap about others. Isn't it always the case.
I am reporting you for violation of FF forum posting standards and in the mean time you will be ignored. Goodbye!
Make your losses in demo. Earn your profits live.
  • #42
  • Jul 21, 2016 5:42pm Jul 21, 2016 5:42pm
Quoting AimBig
{quote} I agree with you. I always loved ECN platforms over market makers. Also spreads seems better with ECN accounts. I would go with FXpro as well!
I chose ECN FXPro uk, after demo account I realized that the comission and the spread we pay is always lower than in a normal account where you have only to pay the spread. I'm using cTrader and apart from indicators it is really cool
  • #43
  • Edited 5:59pm Jul 21, 2016 5:48pm | Edited 5:59pm
Quoting Forexia
{quote} I am reporting you for violation of FF forum posting standards and in the mean time you will be ignored. Goodbye!
I haven't insulted neither flamed you and I never will because I don't need to. I only said my opinion against your thoughts, which are scary to me.
  • #44
  • Edited 9:50pm Jul 21, 2016 8:01pm | Edited 9:50pm
Quoting Manel9530
{quote} I chose ECN FXPro uk, after demo account I realized that the comission and the spread we pay is always lower than in a normal account where you have only to pay the spread. I'm using cTrader and apart from indicators it is really cool
cTrader is good. When you do trade, try to trade using cTrader and not with other platforms.
Make your losses in demo. Earn your profits live.
  • #45
  • Jul 22, 2016 12:33am Jul 22, 2016 12:33am
Quoting Forexia
{quote}when you put in big trades and are profitable consistently, they send your trades to LP for execution and they earn commission + spread + slippages if any, and when you are trading small, non-standard lots and are not profitable, they become your counterparty and execute your trades themselves to profit at your demise + spread + slippages if any. Some of them do hedge so they are risk neutral supposedly but they still earn spread and just larger slippages.

Yes, what you have just described is an ECN retail forex broker. Of which the Australian forex brokers (Vantage FX, IC, Pepper), are some of the best in the industry.

Why are you even here champ? Go trade futures if you don't like the business model. Best of luck to you.
Do you trade forex on an ECN account? DM me for $4.60/RT at Vantage FX.
  • #46
  • Edited 12:56pm Jul 22, 2016 2:02am | Edited 12:56pm
Quoting Ecb
{quote} Yes, what you have just described is an ECN retail forex broker. Of which the Australian forex brokers (Vantage FX, IC, Pepper), are some of the best in the industry. Why are you even here champ? Go trade futures if you don't like the business model. Best of luck to you.
That's NOT ECN. That's called hybrid STP/MM model. ECN is when the broker is NEVER the counterparty to your trades but acts purely as an order-matcher. They DO exist but very rarely. The hybrid STP/MM model lacks price and transactional transparency and still allows brokers to profit at traders' expense. I don't like it and you shouldn't either (unless you work for a broker). WHY should we traders be ATM machines for the brokers? We are in the business to make money too and that's the No. 1 reason why all of us become traders. Forex is a lucrative business with a lot higher trading volume and potential profit than Futures. WHY should I give it up to brokers or trade futures? Just because I trade Forex doesn't mean I have to put up with a crappy business model. You brokers want our business, you are gonna have to earn it.
Make your losses in demo. Earn your profits live.
  • #47
  • Jul 22, 2016 10:05am Jul 22, 2016 10:05am
Quoting Forexia
{quote} That's NOT ECN. That's called hybrid STP/MM model. ECN is when the broker is NEVER the counterparty to your trades but acts purely as an order-matcher. They DO exist but very rarely. The hybrid STP/MM model lacks price and transactional transparency and still allows brokers to profit at traders' expense. I don't like it and you shouldn't either (unless you work for a broker). WHY should we traders be ATM machines for the brokers? We are in the business to make money too and that's the No. 1 reason why all of us become traders. Forex is a...
Look at the commission, one trouble or another.

Business? These retail brokers don't mean Business. I doubt if FxPro have ECN accounts. InstaForex say they're ECN but they're not one step closer to that, still, I admire they never gone wrong with me.
  • #48
  • Jul 22, 2016 7:59pm Jul 22, 2016 7:59pm
Quoting Forexia
{quote} That's NOT ECN. That's called hybrid STP/MM model. ECN is when the broker is NEVER the counterparty to your trades but acts purely as an order-matcher. They DO exist but very rarely.
Once again champ, trade futures.

Quoting Forexia
{quote}The hybrid STP/MM model lacks price and transactional transparency and still allows brokers to profit at traders' expense.
If you trade size and are profitable, then its not worth the broker's risk and you are put fully STP/ECN. Your argument is only an issue if you are small fry enough to be on Forex Factory complaining all day. Sound familiar Forexia?

Too many traders are caught up in the ECN v MM argument when all that matter is whether you make money as a trader and then whether the broker has the regulation that means they have to pay you out no matter whether they took the risk or not.

Your goal is to make money and then withdraw the money. Something the ASIC ECN brokers (again Vantage FX, IC, Pepper) don't mess you around on.
Do you trade forex on an ECN account? DM me for $4.60/RT at Vantage FX.
  • #49
  • Jul 23, 2016 12:32am Jul 23, 2016 12:32am
Quoting Ecb
{quote} Once again champ, trade futures. {quote} If you trade size and are profitable, then its not worth the broker's risk and you are put fully STP/ECN. Your argument is only an issue if you are small fry enough to be on Forex Factory complaining all day. Sound familiar Forexia? Too many traders are caught up in the ECN v MM argument when all that matter is whether you make money as a trader and then whether the broker has the regulation that means they have to pay you out no matter whether they took the risk or not. Your goal is to make money...
I don't care. My trades shouldn't be handled differently just because of size and/or profitability. And if in other instruments, traders can all enjoy the same order execution quality, the same transparency regardless of the trade size or profitability, WHY can't forex? Brokers are brokers, regardless whether they are brokers for forex or for stocks or Futures. If brokers in Futures and stocks and options and anywhere are not allowed to trade against their clients and profit from their demise, neither should brokers for Forex. I am NOT moving over to futures because of bad brokers in forex. It's the bad brokers who's gotta go in forex!!

Traders are caught up in the ECN vs MM argument because it's the MM brokers who are preventing us traders from making money - MT4 Virtual Dealer Plug-In, I am sure you are familiar with that. And it's fully allowed under all the regulations so regulations doesn't mean anything. Is it coincidence that one of the TWO ECN brokers left in forex, Interactive Brokers has the HIGHEST number of trader accounts that are profitable?

Anyway the regulators are finally cracking down on MM brokers and are banning brokers who trade against their clients so the days where brokers can just bet against traders and profit when traders lose are numbered.
Make your losses in demo. Earn your profits live.
  • #50
  • Jul 23, 2016 2:04am Jul 23, 2016 2:04am
Excellent clarification on Brokers . Highly appreciated Forexia . We have to work with huge Odds in Forex. What you finally suggest to retail traders? We have to continue our trade ON and of course with profits.

Show us Light ..what strategy need to be placed?
Never Gamble Forex
  • #51
  • Jul 23, 2016 2:39am Jul 23, 2016 2:39am
Quoting yesyoucan
Excellent clarification on Brokers . Highly appreciated Forexia . We have to work with huge Odds in Forex. What you finally suggest to retail traders? We have to continue our trade ON and of course with profits. Show us Light ..what strategy need to be placed?
Forexia doesn't give out trading ideas I suppose.
  • #52
  • Jul 23, 2016 4:23am Jul 23, 2016 4:23am
Quoting Noorx
{quote} Forexia doesn't give out trading ideas I suppose.
If you can't add value to posts simply move on and don't bump this thread with spam comments. This thread was about choice of brokers and NOT about trading ideas I didn't ask clarification from you..so stay away.
Never Gamble Forex
  • #53
  • Jul 23, 2016 5:17am Jul 23, 2016 5:17am
Quoting yesyoucan
{quote} If you can't add value to posts simply move on and don't bump this thread with spam comments. This thread was about choice of brokers and NOT about trading ideas I didn't ask clarification from you..so stay away.
Excuse me? I didn't spam.
  • #54
  • Jul 23, 2016 8:07am Jul 23, 2016 8:07am
this is the second time i ask this question since nobody responded the first time: "mt4 ea's can be ported to ctrader using calgo, so what is stopping a broker from doing this with cheat ea's?"
  • #55
  • Jul 23, 2016 8:18am Jul 23, 2016 8:18am
Quoting grrbear
this is the second time i ask this question since nobody responded the first time: "mt4 ea's can be ported to ctrader using calgo, so what is stopping a broker from doing this with cheat ea's?"
Sorry mate, I didn't understand your question. No broker would simply use cheat EA's from cAlGO because they are copyrighted and legal. People aren't stupid you know...

Sorry if I didn't answer correctly.
  • #56
  • Jul 23, 2016 8:35am Jul 23, 2016 8:35am
Quoting Noorx
{quote} Sorry mate, I didn't understand your question. No broker would simply use cheat EA's from cAlGO because they are copyrighted and legal. People aren't stupid you know... Sorry if I didn't answer correctly.
cheat ea means virtual dealer plug-in. if this is a threat to users of mt4 then it is also a threat to users of ctrader
  • #57
  • Jul 23, 2016 9:03am Jul 23, 2016 9:03am
Quoting grrbear
{quote} cheat ea means virtual dealer plug-in. if this is a threat to users of mt4 then it is also a threat to users of ctrader
From specific traders that I've met online, and all what I've heard, they said the plugin has been removed and rarely any broker uses it, plus, don't forget its easy to recognize once caught up with. Anyway, cTrader is out of the question when you compare it to MT4, so like I mentioned in my earlier comment and this one as well, these brokers can be reported and taken out from the Forex market much faster.
  • #58
  • Jul 23, 2016 10:38am Jul 23, 2016 10:38am
Quoting Noorx
{quote} From specific traders that I've met online, and all what I've heard, they said the plugin has been removed and rarely any broker uses it, plus, don't forget its easy to recognize once caught up with. Anyway, cTrader is out of the question when you compare it to MT4, so like I mentioned in my earlier comment and this one as well, these brokers can be reported and taken out from the Forex market much faster.
yes but the dealer plug-ins are the main reason people on forums say never to use mt4. it either is a problem or it isn't. if it is and these plug-ins are being used by some brokers with mt4, there must also be brokers using these type of plug-ins with ctrader and maybe other platforms
  • #59
  • Jul 23, 2016 12:13pm Jul 23, 2016 12:13pm
Quoting grrbear
{quote} yes but the dealer plug-ins are the main reason people on forums say never to use mt4. it either is a problem or it isn't. if it is and these plug-ins are being used by some brokers with mt4, there must also be brokers using these type of plug-ins with ctrader and maybe other platforms
I'm sure they'll figure that out... not the first time they've done it. But it may seem MT4 is a fraud platform, I disagree. The only problem I found annoying was when the market goes against you, your trades close immediately, and when it goes your way, requotes appear. However, I found a solution for it just by setting Take Profit. If they are scams, they wouldn't give clients the upper hand to use TP with instant order closing.
  • #60
  • Jul 23, 2016 4:22pm Jul 23, 2016 4:22pm
Quoting grrbear
{quote} cheat ea means virtual dealer plug-in. if this is a threat to users of mt4 then it is also a threat to users of ctrader
No that's because the Virtual Dealer plug-in in MT4 is NOT an EA. An EA can only be implemented at the individual software level at each individual MT4 but the Virtual Dealer plug-in is an extra piece of software that is made available to MT4 brokers to be implemented at the server level applicable to ALL traders' individual MT4 applications that are connected to the broker's server. So whenever a trade is entered, the plug-in will pick it up and manipulate it to maximize the broker's profit at the expense of the trader.

cTrader is different. According to its maker, they have designed cTrader in a way that such a plug-in is NOT possible to be added. So when you are using cTrader, you can be assured that no plug-in's of any kind can be used. Every trade that is entered into cTrader goes straight through to be executed with no requotes, no delay and no manipulations in between or any stop-hunting while the trade is open (everything that the Virtual Dealer plug-in is famous for). Now that is an improvement over MT4 BUT it still does NOT preclude the fact that the trade can still be executed by the broker itself if it's operating as a MM broker. cTrader just makes sure that your trade is not manipulated or delayed in anyway but it doesn't dictate WHO actually executes your trades.
Make your losses in demo. Earn your profits live.
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