Which Broker to go with? (Combined Threads) | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

As a beginner, which threads should I read first? 3 replies

Broker Down Again (Merged threads) 8 replies

which pairs to watch at which open/close 5 replies

Which Broker to go with? (Combined Threads)

  • #21
  • Sep 1, 2006 4:35pm Sep 1, 2006 4:35pm
Personally I have tried over 8 brokers with live accounts. It was one of the first things I did when begining forex trading. I traded live accounts with 3 other traders in my trading group with and compared/contrasted results from brokers. To this day I believe the best broker as do my trading partners to be FXSOL. If only you could trade option contracts with them like you can on FXCM. Stay away from FXCM at all costs though, their price slippage during fundamentals is unbelievable.
  • #22
  • Sep 1, 2006 5:18pm Sep 1, 2006 5:18pm
Sorry, I've been away.

I don't think there is a global scripting language. However, what I like about MT4 is that there are so many brokers that support it. So, you get kind of a pseudo-universality. If you don't like you're broker, there are plenty of others that support MT4.

Quoting Houd
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
  • #23
  • Sep 2, 2006 2:02am Sep 2, 2006 2:02am
Quoting moutekitrader
..... Stay away from FXCM at all costs .......
Take this very seriously!
  • #24
  • Sep 2, 2006 4:12am Sep 2, 2006 4:12am

Is there any european using FXSOL or OANDA which can tell me about money transfer costs and reliability of service, orders execution, stop huntings .. etc.. ?
Im not looking for a broker for news trading as i know they are not good for this

Thanks
  • #25
  • Sep 2, 2006 4:24am Sep 2, 2006 4:24am
Quoting Houd
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 ?
IB has a demo account. It's just the normal program. Use 'cdemo' as the username. But the demo only offer a few stocks/options/etc

It has no API fee. But if you generate less than $30/month transaction costs they charge you $10/month
May the pips be with you.
  • #26
  • Sep 2, 2006 4:28am Sep 2, 2006 4:28am
Quoting Money Talks
Interactive brokers I use. never had prob with them yet.
I'm using them for over a decade and no problems either.
But I have no clue how connect MT4 to them.
Yeah, I've read about APIs etc. But that's above my head...
May the pips be with you.
  • #27
  • Sep 2, 2006 4:31am Sep 2, 2006 4:31am
Quoting Houd
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
But with enough trades you don't have to pay that fee IIRC...
May the pips be with you.
  • #28
  • Sep 2, 2006 5:15am Sep 2, 2006 5:15am
Quoting Bemac
Omega 2000i
Love the open source that allows me to program my own Functions but it is limited to 8 outputs/.
Interesting...by open source do you mean Omega 2000i is an open source product? Or that there's a community of folks sharing the source of their scripts...

Any links would be welcomed.

Thanks.
  • #29
  • Sep 2, 2006 10:11am Sep 2, 2006 10:11am
Quoting TraderSeven
IB has a demo account. It's just the normal program. Use 'cdemo' as the username. But the demo only offer a few stocks/options/etc

It has no API fee. But if you generate less than $30/month transaction costs they charge you $10/month
I will re-check this option.Thanks.
  • #30
  • Sep 2, 2006 10:12am Sep 2, 2006 10:12am
Quoting TraderSeven
But with enough trades you don't have to pay that fee IIRC...
As far as i remember you have to do a lot of trading lots to get there.
But i will double check
  • #31
  • Last Post: Sep 3, 2006 2:42pm Sep 3, 2006 2:42pm
Quoting merlin
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.
Hi Merlin

Good to hear you validate that IB is worth the effort. I trust the fact that they will not trade against you and that -- and the low pips -- were what attracted me.

I am currently developing my code with GAIN because the interface is relatively easy to handle. But, with serious money, I'd probably go elsewhere.

May give IB another try at a later date. Also thought of checking out the API's at HotSpotFx and COESFX.

Oanda is very popular but scary when you read the chapter in Mandelbrot's book
<table border="0" cellpadding="0" cellspacing="0"> <tbody><tr><td align="center" width="80">
</td><td width="8">
</td></tr></tbody></table> The Misbehavior of Markets

(in which he discusses Oanda) you realize that they are looking at your trades and potentially they can use your data to trade against you.

Mandelbrot is a must read if you want to go into trading with your eyes open.

David
0 traders viewing now