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Best Broker?

  • #241
  • Jun 5, 2017 1:39pm Jun 5, 2017 1:39pm
In my trading career,
I would like to the broker which always ensures
-security of funds ,
easy withdrawal system without long time process ,
low transaction cost ,
active customer services and much more that are really supportive to lead a comfortable trading life with certainly.
  • #242
  • Jun 9, 2017 12:49pm Jun 9, 2017 12:49pm
Quoting BlackPip
Trade with UK FCA regulated brokers!
You can recommend at any regulations. that’s your choice .

but why UK ?
  • #243
  • Jun 9, 2017 1:14pm Jun 9, 2017 1:14pm
Quoting Jason Rogers
{quote} {quote} It's important to understand that as an industry leader, FXCM is subject to a greater level of scrutiny than smaller, less-regulated forex brokers. We are one of the only retail forex brokers in the world that's regulated on three continents and a publicly-traded company (NYSE ticker: FXCM) averaging $16.5 billion per day* in retail trading volume. We welcome this position of responsibility, and our retail clients who place 689,635 trades through us per day* are glad we do. FXCM takes regulations very seriously and believe it is...
Hey Jason...What is the largest lot size i could trade with FXCM?...without slippage also what is the largest account size i can open up? And when will you be able to receive US citizens again?
  • #244
  • Jun 13, 2017 4:57am Jun 13, 2017 4:57am
Quoting francmorio
{quote} I think there is a reason to doubt the credibity of fxcm, For more than once, FXCM has breached the NFA policies, and also, in most cases, the price action in demo and live are never always the same!

This is true ! Not sure about FXCM. In the Demo account the spread on the EUR/USD is least 1.0 whilst they are promoting 0.1 floating on FF. What the hell is going on ?
  • #245
  • Jun 13, 2017 5:00am Jun 13, 2017 5:00am
Quoting Banet
I would like a broker that gives some kind of promotions from time to time. Also that brokers withdrawal time has to be less. I dont like waiting for my profit to come in my payment processor for too long.
I am currently using EverFX Demo account. Their spreads are REALLY low ( As low as 0.2- 0.8 floating )and I have spoken to someone from EverFX and has confirmed that the spreads are exactly the same as a real account.
  • #246
  • Jun 13, 2017 5:43am Jun 13, 2017 5:43am
What is the best broker for carry trading? I am talking very low spreads, but very high swaps (whilst still being regulated by the FCA etc..)

I did look for other threads directly related to this, but could not find any so apologies if this should be elsewhere..
  • #247
  • Jun 13, 2017 8:18am Jun 13, 2017 8:18am
Quoting Babypips101
{quote} Hey Jason...What is the largest lot size i could trade with FXCM?...without slippage also what is the largest account size i can open up? And when will you be able to receive US citizens again?
Hi babypips,

The maximum lot size you can trade per order with FXCM is 50,000k (50 million). Orders executed on NDD forex execution are filled dependent on available liquidity so it is not possible to state the largest amount you can execute without slippage. However, the larger the trade size, the more likely you may experience slippage because there is a limited amount of liquidity each liquidity provider is quoting at each price. If you have a standard account with FXCM, you can use our market depth indicator on the Trading Station charts to view the top 5 tiers of liquidity and the price at which it's being quoted. Here's an screenshot of EUR/USD taken just now we can use as an example:

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd depth of market 2017-06-13_10-45-12.jpg Size: 128 KB
:

In this example, there are 3 liquidity providers quoting liquidity at the ask price of 1.1216 for a total volume of 3.1 million. If you place an order at the price 1.1216 for a lot size smaller than 3,100k (3.1 million) then there is a higher likelihood of being filled without slippage. If you place an order for 1.1216 for a lot size greater than 3,100k (3.1 million) then there is a higher likelihood of the order experiencing slippage.

Slippage statistics from the FXCM Group from January 1, 2017 to May 31, 2017 also indicate that negative slippage may be more likely to occur as order size increases:

Attached Image (click to enlarge)
Click to Enlarge Name: slippage stats 2017-06-13_11-07-28.jpg Size: 169 KB

Source: FXCM Slippage Statistics

If you're concerned about slippage, then I would suggest using the Market Range feature to avoid potential negative slippage. When placing the order, you can select the order type as Market Range and specify a range in pips. The range in pips assures that all or part of your order fills within the pip range (above or below) of the current market price if liquidity is available.

We do not accept account applications from traders in the US since we are not regulated in the US.

Jason


Disclaimer: The article does not in away way attempt to represent that FXCM maintains a particular capacity or performance level. The figures in this article are provided for information purposes only, and are not intended for trading purposes or advice. FXCM is not liable for any information errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. Past results are not indicative of future performance.

Non‐direct clients may include clients of certain intermediaries.
  • #248
  • Jun 13, 2017 8:30am Jun 13, 2017 8:30am
Quoting g0ds0n
{quote} This is true ! Not sure about FXCM. In the Demo account the spread on the EUR/USD is least 1.0 whilst they are promoting 0.1 floating on FF. What the hell is going on ?
Hi g0ds0n,

The pricing depends whether your demo is a standard or mini demo. Standard accounts have low spreads + commission pricing model and the average EUR/USD spread for the most recent quarter was 0.4 pips. Mini accounts have spreads only pricing. No commissions are added since our compensation is included in the spread. The average EUR/USD spread for the most recent quarter was 1.4 pips.

When you register for the demo you will notice a drop down menu allowing you to select standard or mini as the demo type.

Jason
  • #249
  • Jun 13, 2017 10:12am Jun 13, 2017 10:12am
Quoting Cookstaar93
What is the best broker for carry trading? I am talking very low spreads, but very high swaps (whilst still being regulated by the FCA etc..) I did look for other threads directly related to this, but could not find any so apologies if this should be elsewhere..
I use Octafx and they have swap free account, so that’s obviously best option for carry over trades given you are not required to pay charges while spread is low as well and there is no connection between swap and spread. As per the topic, I find the word BEST over-rated, it’s just endless, it’s about having fair table to play out according to our skill levels, I don’t think much else is really required for anyone at all. But then, it’s just my view.
  • #250
  • Jun 13, 2017 11:25am Jun 13, 2017 11:25am
Quoting Jason Rogers
{quote} Hi babypips, The maximum lot size you can trade per order with FXCM is 50,000k (50 million). Orders executed on NDD forex execution are filled dependent on available liquidity so it is not possible to state the largest amount you can execute without slippage. However, the larger the trade size, the more likely you may experience slippage because there is a limited amount of liquidity each liquidity provider is quoting at each price. If you have a standard account with FXCM, you can use our market depth indicator on the Trading Station charts...
Thanks Jason for the explanation! When will you guys be able to take US citizens again?
  • #251
  • Jun 13, 2017 11:36am Jun 13, 2017 11:36am
Quoting g0ds0n
{quote} I am currently using EverFX Demo account. Their spreads are REALLY low ( As low as 0.2- 0.8 floating )and I have spoken to someone from EverFX and has confirmed that the spreads are exactly the same as a real account.
Yes, spreads is an important financial tool which an investor should consider when choosing a broker.
this broker supports scalping and hedging or not?
  • #252
  • Jun 18, 2017 2:27pm Jun 18, 2017 2:27pm
Quoting MarkFxAnde
{quote} Yes, spreads is an important financial tool which an investor should consider when choosing a broker. this broker supports scalping and hedging or not?

All brokers support scalping and hedging otherwise they wouldn't last long on scarce range of services they offer. What is more interesting is whether they B-Book or A-book your orders (send them to LP so no conflict of interests there)
  • #253
  • Jun 22, 2017 11:33am Jun 22, 2017 11:33am
Hello.. can anyone help me what is the best forex broker as a swing trader? I trade live acc with hotforex recently, but it appears that hotforex cannot protect me during market gap... my experience using hotforex, when market gap my stop loss was filled with the best opening price.... If price gap around 200 pips I losses a lot of money..
can anyone tell me a good broker that can protect me from gap? sorry for the bad english but thanks anyway.. please help
  • #254
  • Jun 22, 2017 11:45am Jun 22, 2017 11:45am
Quoting dion.octora
Hello.. can anyone help me what is the best forex broker as a swing trader? I trade live acc with hotforex recently, but it appears that hotforex cannot protect me during market gap... my experience using hotforex, when market gap my stop loss was filled with the best opening price.... If price gap around 200 pips I losses a lot of money.. can anyone tell me a good broker that can protect me from gap? sorry for the bad english but thanks anyway.. please help
No broker can protect you from gap. Gap is one of the uncertainty we have to cope with. Forex is beast and wild animal sometimes
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -42.7%
  • #255
  • Jun 22, 2017 12:17pm Jun 22, 2017 12:17pm
Quoting 9jatrader
{quote} No broker can protect you from gap. Gap is one of the uncertainty we have to cope with. Forex is beast and wild animal sometimes
Hey thanks for the reply..

So this kind of problem is normal?

I ever experience a gap in hotforex but when I look into another broker like Oanda or FXCM these brokers have no gap? what happen?
  • #256
  • Jun 22, 2017 12:21pm Jun 22, 2017 12:21pm
Quoting 9jatrader
{quote} No broker can protect you from gap. Gap is one of the uncertainty we have to cope with. Forex is beast and wild animal sometimes
Yes Forex is too much volatile and uncertain, that’s why any broker cannot protect you from gap but the broker can affects the result of our trading with certainly, so broker is a big deal to ensure a successful trading life with certainly.
  • #257
  • Jun 23, 2017 12:16am Jun 23, 2017 12:16am
Quoting dion.octora
{quote} Hey thanks for the reply.. So this kind of problem is normal? I ever experience a gap in hotforex but when I look into another broker like Oanda or FXCM these brokers have no gap? what happen?

Hotforex is market maker, so maybe they made this gap to take your money. Did you leave position for weekend or maybe NFP or other important news release? Could you add screenshot? However, there are no brokers that protect from gap.
  • #258
  • Jun 23, 2017 1:07am Jun 23, 2017 1:07am
Quoting insomniawawa
{quote} Hotforex is market maker, so maybe they made this gap to take your money. Did you leave position for weekend or maybe NFP or other important news release? Could you add screenshot? However, there are no brokers that protect from gap.
This is the example please look at the attachment below... Not sure if you can see it clearly... left side is OANDA MT4 and right side is the Hotforex MT4 at 8 June 2017 a major news release and you can see Hotforex make a Gap but not in OANDA.... I knew it is normal to gap during the weekend... But this Gap happends on Thursday if Im not mistaken... Is there a broker that have no Gap during normal trading days?
Attached Image (click to enlarge)
Click to Enlarge Name: Hotforexvsoanda gap.jpg Size: 218 KB
  • #259
  • Jun 23, 2017 2:33am Jun 23, 2017 2:33am
Quoting dion.octora
{quote} Hey thanks for the reply.. So this kind of problem is normal? I ever experience a gap in hotforex but when I look into another broker like Oanda or FXCM these brokers have no gap? what happen?
It's difficult to know why those have no gap. the interesting thing about gap is that we can have gap in our favour. I was able to benefit from the last EURUSD. I closed immediately.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -42.7%
  • #260
  • Jun 23, 2017 5:27am Jun 23, 2017 5:27am
Quoting dion.octora
{quote} This is the example please look at the attachment below... Not sure if you can see it clearly... left side is OANDA MT4 and right side is the Hotforex MT4 at 8 June 2017 a major news release and you can see Hotforex make a Gap but not in OANDA.... I knew it is normal to gap during the weekend... But this Gap happends on Thursday if Im not mistaken... Is there a broker that have no Gap during normal trading days? {image}

This gap is absolutely normal. It was caused by UK election. I don't have gap at IC Markets and Pepperstone, but probably all trades would be executed at the bottom of 1M big candle. It's very sharp move caused by EA's. If you are not ready to lose 1000 pips in one second you must avoid such important events. Stop loss doesn't work at all if whole move is done in one tick.
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