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Originally Posted by legacy15
The most highly rated forex broker I've found from weeks of searching forums and rating sites is Dukascopy (Geneva, Switzerland).
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Do you understand their business model and how is works...?
http://www.dukascopy.com/swiss/english/about/model/
Also Dukascopy has applied for a banking license.
Quote:
Originally Posted by legacy15
I used a 2 month free trial of Tradestation to backtest my strategy and really liked the results. I wanted to use Tradestation as my analysis platform and brokerage until I read that they use GAIN Capital to clear their trades.
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GAIN Capital Group, Inc. acts as the counterparty for each transaction and as a liquidity provider to clients using its access to the inter-bank market. In doing so, GAIN Capital Group, Inc. assumes the risk associated with each transaction. A portion of GAIN Capital Group, Inc. and TradeStation Securities' profitability may be the difference between the bid and the offer provided to the client, as well as GAIN Capital Group, Inc.'s ability to offset any risk transferred to GAIN Capital Group, Inc. by clients.
Now where is the difference between Dukascopy and Tradestation...?
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Turns out most brokers have the same criticisms as GAIN in that they run your stops and deviate their pricing accordingly since they are all market makers themselves.
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I wish people would stop telling this nonsense that brokers run your stops.