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Thread: Help me find a broker please

  1. #11
    Quote Originally Posted by ;
    Oanda US would be fine.

    I know you said you'd prefer a non-market maker, but as far as reputation goes they're the shining example of what a good firm can perform with the market maker format.

    Not a single NFA or CFTC sanction, fee warning delivered to these (unlike other brokers like FXCM, which can be an STP btw. .)
    Present warns I read that their systems freeze,not able to log in etc..
    Envision how much one has the potential to lose by not having the ability to close an order in time.
    Fact they trade against you is questionable to me.

  2. #12
    Quote Originally Posted by ;
    currently I am trading a five figures account and I can not say anything bad about MBT. They are a real ECN with tight spreads and speedy implementation and their service has been always valuable.
    Thanks for affirmation.
    Hopefully I can begin trading live soon after demo testing.

  3. #13
    Quote Originally Posted by ;
    Present warns I read that their systems freeze,unable to log in etc..

    Envision how much one can potentially lose by not having the ability to shut an order on time.
    That criticism was about their MT4 bridge, the native fxTrade platform hasn't had such problems recently. Atop of that, your limit and stop orders will perform correctly regardless if you are having difficulties with MT4 or not. Worst case, if you are holding a naked position within MT4, you simply have to start fxTrade to look after it (or even hell, call them or perform a live chat with a rep and they can shut out your order for you if for whatever reason you can not conduct fxTrade.)

    Quote Originally Posted by ;
    Fact they trade against you're suspicious to me.
    I am getting very tired of this topic... (not from you but in general with this forum)

    It's great that you are skeptical and all and it's healthy as a trader to become suspicious. . However, this is where a little bit more depth of understanding on the way the market operates could save you from the drooling masses on the internet that only spread around dread because they want to blame other people for blowing their account.

    Who says they are trading against you? They may be a market maker, and originally take another side of your transaction so that they can deliver on the price they quoted you, but it does not mean they have left themselves vulnerable to your position.

    Can you understand the way the place market as a whole is assembled? An STP broker is only going to place orders through for their LPs or banks, but the LPs and banks are often acting as market makers and hedging their exposure in different ways... place is frequently a made market even if you're trading through an ECN/STP.

    Being an MM does not make the broker evil. A wicked broker could be any implementation model. Yes, an evil broker has more ways of messing with you if they had been a MM... however there are a couple of good MM brokers which are anything but bad.

    Besides, Oanda's trading conditions guarantee $10MM minute execution matches at market prices they have quoted. . If they had been to mess around with their price feed, then people would arb them to departure.

    Look up their listing on the NFA's website for warnings and sanctions... popular STP and ECN brokers have fees:

    http://www.nfa.futures.org/basicnet/

    Shitty MM: forex.com (profit funds) has 4 arbitration actions between the NFA and two NFA sanctions/actions against them in the past. Since then they have cleaned up their act and while their spreads nevertheless suck they are not anywhere near as unethical these days.

    STP broker FXCM: 3 NFA actions contrary to them, two CFTC actions contrary to them, 12 arbitration actions between them and the NFA as respondents to a claim against them, 8 CFTC cases where they had been listed as the respondent to a claim against them.

    STP broker MB Trading: two mediation actions between the NFA as respondents to a claim against them... better than the preceding two examples.

    MM Oanda: Nothing... zero... zip... no complaints lodged against them, no actions taken against them, no investigations from the CFTC or NFA that turned up grime... nothing.



    I'm going to be blunt: as a new trader being vulnerable to such forums you are going to have to realize there is a world of difference between what's rational and within the realm of fact, and the droves of drooling fear-mongers who burnt themselves on several trades and want to attribute the broker.

    Spend some time studying the way the market operates, how banks deal in prices, the way the banks hedge their risks and how a market is made... it may help you clear out some of the FUD out there.

  4. #14
    Demo testing bothers. No emotional attachment to the money you are using.

    Even though you have to guard yourself from the cash when trading there is a demand for you to be aware you are investing in YOUR money and you will make more informed and thought out transactions.

    Find a broker who lets one to trade 1 cent/penny pips. Yeh it seems stupid, but if it develops you can add additional, and believe me you will still kick yourself for making a stupid trade even if its 50 pence/cents.

    Im using FXtrade from Oanda, they let you trade in 1 cent pips if you wish, ive had no problems as yet, I utilize their MT4 platform for graphs only as I like the platforms graphs, as well as the FX commerce platform and MT4 for graphs with the very same quotes makes for a fantastic game, but to be honest FXtrades graphs are ok too.

    Demo trading is trousers, I played with it for a little and made cash but didnt learn just as far as I have because I began trading my money, you browse the graphs more, take notice of news more, look for patterns longer.

    Should you trade demonion, you will just long to trade real money anyway, might aswel begin TINY!!!

  5. #15
    I've got 2. That's OANDA and IBFX (US). OANDA FxTrade is excellent. IBFX has non-expired Demos, but if you do not log within 20 days, then it'll get expired. There's no minimum deposit with IBFX. It has 2 kind of accounts: Standard (100K contract dimensions) and Mini (10K contract dimensions.) IBFX is MT4 only broker. There's some interesting contests in its IBFXConnect open per week, prize in actual USD.

  6. #16
    Quote Originally Posted by ;
    I've got two to inform. That's OANDA and IBFX (US). OANDA FxTrade is excellent. IBFX has non-expired Demos, but if you do not login within 20 days, then it'll get expired. There's no minimum deposit with IBFX. It's 2 kind of accounts: Standard (100K contract dimensions) and Mini (10K contract dimensions.) IBFX is only broker. There's some fun competitions in its IBFXConnect open per week, prize in actual USD.
    I sincerely thank everyone here for your inputs.I have decided to choose MB trading.
    I shall deposit $500 and determine how the platform and implementation is.I will report here my experience good or bad for others in similar situations.

  7. #17
    Quote Originally Posted by ;
    Oanda US will be fine.

    I know you said you would prefer a non-market maker, but so far as reputation goes they are the shining example of what a fantastic firm can do with the market maker format.

    Not a single NFA or CFTC sanction, charge warning delivered to them (unlike other brokers such as FXCM, which is an STP btw. .)
    I'd second that.

  8. #18
    [quote=MrBurns;5427435]dont bother presentation testing. No plogical attachment to this money you are using.


    I always see people saying this. On one hand your best you can't actually learn to control your emotions while investing in a demo. However with the shear quantity of brokers out there if they can't make their DEMO work correctly, you know they can't make the actual platform work.

    I know some folks will say hog balls to that, it's only a demo why waist time and source on a series peice, and that there reside account platform will be magically better.

    Well I learned a long time ago to state FU, Earn my Trust! So in case the Demo is crap, They are crap, period.

  9. #19
    Http://www.100forexbrokers.com/fx/broker_search.php

    Today US Brokers having low Leverage. Try non US Brokers with higher Leverage those accept US resident.

  10. #20
    Currently im using pfd-nz and so far im happy with this broker.

    Withdrawal quickly especially using moneybooker.

    They operate in new zealand timezone so for people like me who lifetime in asia timezone ought to be able to grab their time small bit but for people who living in UK or US will much hard to grab their office hours.

    Thats an opinion from me as a trader.

    Thanks

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