Quote:
Originally Posted by Bocajunior
Ingot,
Great thread! I've been busy with work just now so have just browsed through this thread quickly so far, but looking fwd to going over it again once I'm free. Great story as well! 
A question I have, I am on Oanda but which brokers out there that offer a good demo, have weekly charts?
Thanks and Regards |
Hi Boca
Good to see you acknowledge that work is a big responsibility in your life.
Mine too ... and family. As much as I would like to spend time trading and posting ... I can not escape the responsibilities of life, and the primary priorities.
The charting package I use is MetaTrader 4 from Interbankfx. They tell you the demo expires in 30 days, but that is ONLY IF YOU LET IT LIE DORMANT.
If you are actively using the demo platform, it will roll along indefinitely until you stop using it. I know North Finance also offer a MT4 and a Google search will help you find more companies.
I would not deal with any company offshore, personally.
I call it Sovereign Risk.
In Australia we don't have too much choice regarding Demo and trading live platforms. We have Sonray (Saxobank) and Forexyard, and a couple of others. Hopefully some Aussie readers can post the names of their brokers with demo's plus good local live trading dealers. Australian Regulations are perhaps the tightest in the world, so it is perhaps safer for overseas (from Australia) to deal with an Australian company in the event of a dispute.
My point in mentioning Sovereign Risknis this:
In the event of a disputed call over whether the price actually touched a SL or TP etc it is far easier for a citizen in the country where the dealer is based, to obtain regulatory assistance in settling disputes. Further, when it comes to getting my money out of the Bahamas, or the Canary Islands, I don't like my chances.
How can I go and knock on the door of a dealer 12000 miles away on the other side of the world who is declining to answer my correspondence? Even the Australian Government has its hands tied to an extent when it comes to outside jurisdictions.
"If you don't deal at home ... you're ALONE!"
Different brokers who offer MT4 platforms for demo offer different numbers of pairs to trade. As well, some MT4 platforms only offer short-term TF.
I have used Oanda, Forexyard, and some of the charting attached to live trading platforms eg IG Markets, and for myself I prefer the MT4 platforms.
Just as an addit: If the TF you need (eg weekly or monthly) is not visible on the toolbar, there is a CLOCK icon on the toolbar which has these two extra TF's available. Unfortunately you need to access them this way every time, because as far as I can see it is not possible to drag-and-drop these 2 TF's to the standard toolbar for frequent use.
Other readers may offer helpful views on this too.