What do traders look for in a broker? - Page 2
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Thread: What do traders look for in a broker?

  1. #11
    Quote Originally Posted by ;
    The NFA isnt gont assist you more than a fair trading field will - They are a pro-broker company - Dont get it twisted.
    Okay, so NFA Compliance Rule 2-43(a) regarding price adjustments does not assist the trader? I think you'll discover it does!

    2-43(b) FIFO has been discussed on these forums in length and continues to be demonstrated beneficial, the issue there is that many US NFA member brokers seem incapable of applying it correctly or adapting their trading platforms efficiently, heck just a few short months ago they were saying that NFA had banned stops!!

    There has been a lot of resistance from US brokers about both parts of the rule so that it does not really look like NFA exist simply to make scam brokers happy does it!

  2. #12
    Firstly, it shouldn't let people'cheat' the system.

    Second' it should publicly let you know its hedging egy if it's a market maker.

    Thirdly, regulation/regiion of some kind at some jurisdiction other than panama or the british virgin islands.

    Not NFA controlled (fifo and anti hedging is bullshit).

    Net capital over 20 mio

    Over 50 000 customers

    Have limitations on the quantity of below market volume it manages. I.E account dimensions limits on micro accounts or miniature lots. (get real people, you cant put 10k to the real market, 100k is your minimal on a liquidity network and one mio on interbank).

  3. #13
    Quote Originally Posted by ;
    fifo and anti Payoff is bullshit
    lol, it Is How every other market works, why should forex be any Distinct

  4. #14
    Quote Originally Posted by ;
    lol, it's the way every other market works, why should forex be some distinct
    Because FX is utilized directly to hedge other markets. As an example, if you go long gold, and oil, you are very important USD.

    If you hedge that by buying usd/chf and usd/jpy but not in the same period, and the market moves in your oil trade in a way which makes it slower compared to the gold motion, along with your gold TP is hit, and you want to shut your hedge, but can't since you hedged oil first. ITs BS.

    The USE of place FX signifies that FIFO doesn't get the job done, it makes it much more speculative than it currently is. And without hedging people are more than exposed (isn't this why the GFC occurred in the first location! Over exposure?)

  5. #15
    Quote Originally Posted by ;
    If you hedge that by buying usd/chf and usd/jpy although maybe not at the exact same period, and the market moves in your oil commerce in a manner which makes it slower than the gold movement, and your gold TP is hit, and you would like to shut your market, but can't because you hedged oil . ITs BS.
    Okay ignoring the fact that the gold/USD correlation has broken down somewhat lately, the (new) FIFO 2-43(b) rule only applies to the exact same instrument.

    The advantages of holding long and short positions on the exact same currency pair, or rather lack of benefit, has been discussed at length in other threads, even brokers themselves admitted in poll which'hedging' in that way has no financial advantage.

  6. #16
    Quote Originally Posted by ;
    What do you look for in a broker? Whats the most important issue to you? Spreads? Customer services? Dedied account manager? Fast withdrawals and deposits? Brokers are everywhere and most all seem the same... what would make you pick one over the other?
    First of all, the broker must be a documented one. Have a customers connection that is good. Provide a lot of financial tools to exchange, not only the majors pairs and only a few crosses. And of course the spread/commission as low as possible(and also the willingness to negotiate commission).

  7. #17
    NFA registered. Been in business more than 5 years. Consume at least 100,000 active traders. Be well capitalized (NFA provides lists on their site ). Fantastic customer service. Enabling you to pull cash out and to do it. It shouldn't take any longer to send. Their feed has to be dependable and they need to have a backup server if something. They aren't worth trading with When there is any time that is down more often than once every couple of weeks than.

  8. #18
    Having a hard time finding a new forex trading business to use....Been with ibfx for two decades and just began using an EA that works for me....that is until the nfa stepped in and took my leverage away. I've contacted Nordmarkets and downloaded there mt4 demo account....three days to using it find out that they dont let U.S. customers to use this platform with a live account. . .So I download there demo and check into Alpari UK. . .do my egy testing. . .and start Questioning them email. . .only to find out that due to U.S. regulations they can not supply accounts to U.S. residents....guess I should become a Canadian citizen.

  9. #19
    Quote Originally Posted by ;
    What do you look for in a broker? Whats the most important thing to you? Spreads? Customer service? Dedied account manager? Fast deposits and deposits? Brokers are everywhere and many all appear the same... what will make you pick one over the other?
    I look for suitable regulation. As I am not a scalper, spread isn't really a concern with me. Customer support is important to me too.

  10. #20
    Thanks for your all comments and thoughts.... I ended up going with forex.com.au that an AUD broker...

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