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Which Broker to go with? (Combined Threads)

  • #1
  • First Post: Aug 30, 2006 8:41am Aug 30, 2006 8:41am
Hi,
I about to open a trade account.
My trade style is
- sapling
- Auto order throough API (VB or C# Programming)
- Small lot sizes $ 10K

I decided to go with one of the four which i will try in order
- ONADA
- Interactive broker
- FXCMS
- CMSFOrex

any advice which one is better.
or there is some brokers should i add\delete from the list
  • #2
  • Aug 30, 2006 8:48am Aug 30, 2006 8:48am
i like fxcm,i trade with them for a year, have additional tech analz and nwhich is 80% of the time very good.


trade on news is impposiable!(like all the others)

good service as well.

i check now for finotec.com company for my second account.

rover
rover all the time
  • #3
  • Aug 30, 2006 8:54am Aug 30, 2006 8:54am
Quoting Houd
Hi,
I about to open a trade account.
My trade style is
- sapling
- Auto order throough API (VB or C# Programming)
- Small lot sizes $ 10K

I decided to go with one of the four which i will try in order
- ONADA
- Interactive broker
- FXCMS
- CMSFOrex

any advice which one is better.
or there is some brokers should i add\delete from the list
I am fairly sure that Interactive Brokers minimum transaction is 25k = 2.5minis. That obviously means that you dont need to trade standard 100ks. Oandas API is $600 a month unless you are trading $12mil in transactions I do believe. FXCM is a no if you scalp If you trade techs or position trade without limits and stops you could try FXCM : . I do not know that much about CMS.

Out of the four I would go first with IB, use limits, they have been known to throw your market orders around. Second I would use Oanda. The other two I wouldnt use.

- I dont know if they have an API, look at QuesTrade. They use the GFT and Gain Capital platforms... but they are pretty consistant and make customers feel welcome. Plus, they are based out of Canada... so your money is about as safe as it can get.

Good luck
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #4
  • Edited 9:33am Aug 30, 2006 9:05am | Edited 9:33am
StockJ, is Questrade a decent broker for news (no monkey business)?
  • #5
  • Aug 30, 2006 9:27am Aug 30, 2006 9:27am
Quoting StockKJay
Oandas API is $600 a month unless you are trading . I do not know that much about CMS.Good luck
Oh! forget about the $600, it will eat the profit.
The API is acorner stone of my trading stratgy.
IB has very small API fees but min lot size is $ 25K (i am using 0 leverage) that is big dollars to start with + I think IB does not have a demo account to start with. right ?
Not sure if there is any other broker has low/no API fees + small lot size < $ 10K + has demo account.
Complex eqoution. is not it ?
  • #6
  • Aug 30, 2006 9:30am Aug 30, 2006 9:30am
Quoting rover
i like fxcm,i trade with them for a year,
Did you tried fxcm API ? API is essential to me.
I belive the have 10,000 unit as min lot size . Right ?
I will look at the other one you mentioned
Thanks
  • #7
  • Aug 30, 2006 9:32am Aug 30, 2006 9:32am
Are you trying to avoid brokers that support MetaTrader? MetaTrader has scripting capabilities similar to C. If you can program VB or c#, you can use MetaTrader. It also has an API for using C# modules as well.

Quoting Houd
Hi,
I about to open a trade account.
My trade style is
- sapling
- Auto order throough API (VB or C# Programming)
- Small lot sizes $ 10K

I decided to go with one of the four which i will try in order
- ONADA
- Interactive broker
- FXCMS
- CMSFOrex

any advice which one is better.
or there is some brokers should i add\delete from the list
  • #8
  • Aug 30, 2006 9:54am Aug 30, 2006 9:54am
Quoting stockwet
Are you trying to avoid brokers that support MetaTrader? MetaTrader has scripting capabilities similar to C. If you can program VB or c#, you can use MetaTrader. It also has an API for using C# modules as well.
Well I thought all platforms has there own scriptting laungage.So, If i move from one platform to another, i have re-script the code.
Is there a globel scrippting launge accross multi platforms ?

I looked at several Platforms' API (most likely,they are Activex based on COM tochnolgy) so it is like MyApplication-->ActiveX-->TheTradingPlatform-->BrokerSever = Long chain + the ActiveX is not that good (it will be my last option).
But the Broker APIs is a dirct access to the broker sever (i like that!).

However, i look at MetaTrader option.
If i have revisit the Platforms' API, i will.
Thanks
  • #9
  • Sep 1, 2006 12:38pm Sep 1, 2006 12:38pm
Hello dear piple,

I was just hoping to get a general idea on what platform you guys are on. I want to have an idea of the most popular, the most reliable, most customizable and ofcourse, which one has the best pippin potential.

So please, if each of you could just state what platforms you use, the rest of us will get some ideas and options.

Thank you all in advance.
  • #10
  • Edited 12:52pm Sep 1, 2006 12:41pm | Edited 12:52pm
Hi pipdood, Welcome to this forum. I use MT4 and AmiBroker and a platform from MGForex... I will have to get Bemac to show me how to use VT, sometime also...

edit:
Oh yea, I forgot. also the GTS at FXsol.

Thanks Scott
  • #11
  • Sep 1, 2006 12:55pm Sep 1, 2006 12:55pm
Hi pipdood
MT4 trade thro' screen to InterbankFX
Peter
  • #12
  • Sep 1, 2006 12:58pm Sep 1, 2006 12:58pm
Thanks for being the first to reply, smjones, i myself am pretty much a newbie around here. My goal for now is to survey the various ways which people use for generating some good ol`pips.

Im on Oanda doing demo till i get confident for the real deal, which im hoping would be sometime a couple of months for now.

I basically decided on Oanda cuz of their spreads on the major pairs. Will probably try a couple more platforms in the time to come.
  • #13
  • Sep 1, 2006 1:08pm Sep 1, 2006 1:08pm
Interactive brokers I use. never had prob with them yet.
  • #14
  • Sep 1, 2006 1:15pm Sep 1, 2006 1:15pm
Charting Platforms I use.

VT Trader {as Scott mentioned}
Although it could be better, I like it mostly because of how quickly it allows you to program customizations without the limit of 8 outputs for a quick check on any tweaks I may consider.

Omega 2000i
Love the open source that allows me to program my own Functions but it is limited to 8 outputs/.

MT4
When I get some free time [that 30 minutes at the weekend between sawing logs and laying one...oops, sorry guys... I just disgusted myself too ] I try to learn a little more about the programming language...
Love the Charting Loading Speed but really don't know that much about all the bells and whistles.

As far as pipotential goes, that's an ongoing discussion in the Borker Forum.
  • #15
  • Sep 1, 2006 1:33pm Sep 1, 2006 1:33pm
Quoting Houd
Hi,
I about to open a trade account.
My trade style is
- sapling
- Auto order throough API (VB or C# Programming)
- Small lot sizes $ 10K

I decided to go with one of the four which i will try in order
- ONADA
- Interactive broker
- FXCMS
- CMSFOrex

any advice which one is better.
or there is some brokers should i add\delete from the list
I tried to use the API with forex on Interactive Brokers (IB). I got the wrong information about a problem from 3 different tech support people. The 4th person was new and didn't know and therefore tried it and discovered that it failed (as I recall, the problem was that, thru the API, I couldn't see the price I had paid to get into the trade).

Essentially IB threw in forex as an add on but it really doesn't work like the rest of their products. Even the tech people don't realize exactly how it works. I never got the API to work on Forex and eventually gave up.

David
  • #16
  • Sep 1, 2006 2:24pm Sep 1, 2006 2:24pm
Quoting DAIJ1944
I tried to use the API with forex on Interactive Brokers (IB). I got the wrong information about a problem from 3 different tech support people. The 4th person was new and didn't know and therefore tried it and discovered that it failed (as I recall, the problem was that, thru the API, I couldn't see the price I had paid to get into the trade).

Essentially IB threw in forex as an add on but it really doesn't work like the rest of their products. Even the tech people don't realize exactly how it works. I never got the API to work on Forex and eventually gave up.

David
Intersting.
I got a bad feeling when i looked at the IB API examples. Ammm
The best one i saw was VT then Forx CMS.
But the people in this forum advice me to go with ECN if i want Scalp trading.So, i kind of left VT & ForexCMS.
So, may be i should look at another ECN with good API.
Or just retry with IB and see.
What do you think ?
  • #17
  • Sep 1, 2006 2:28pm Sep 1, 2006 2:28pm
Oh foregt
ONADA has a very good API.
But a $600 monthly fees + another $600 one time setup fees.
Other is $0 or just few bucks amoth
  • #18
  • Sep 1, 2006 2:30pm Sep 1, 2006 2:30pm
Quoting DAIJ1944
Essentially IB threw in forex as an add on but it really doesn't work like the rest of their products. Even the tech people don't realize exactly how it works.
amen.

i do not recommend IB for newbies, but for the more experienced trader, you can figure it out. the interface for forex is VERY confusing, it basically shows you no P/L, no positions, and the symbols are kookie.
Relax and be happy.
  • #19
  • Sep 1, 2006 3:07pm Sep 1, 2006 3:07pm
Hi,

I am using
- VT with CMS
- MT4
- GTS with AccuCharts from FXSol


branac
  • #20
  • Sep 1, 2006 3:31pm Sep 1, 2006 3:31pm
Well i started with Fxcm.....tried Oanda,Cms but am with Money Forex


I like Money forex because all the activity including graphs are on the same page and you can not only do FX but also trade metals,crude and indexes......I have closed all the rest except FXCM...I like there News plug in

good luck
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