Which is your best broker?

MB = Manhattan Beach, CA

That is where they are located. I use their EFX arm and Oanda both. Depends on what you are trying to accomplish.

FXChant
Singing the world of forex

As we have different types of forex traders, same thing is all kinds of brokers. This is what i did, I opened over different demo account, tried it all and decide for yourself which one is good.

for non-US traders, and would like to try forex trading ASAP could try marketiva. They’re adequate enough with basic analysis, signal, and alert. They’ve got an irc-like discussion channel and free $5 to start live trading immediately.
I’ve tried their platform, convenient enough to transform $5 to a fat $40 :smiley:

The nice thing is they accept e-gold, not much platform includes this payment method.

MB is good for the GBP with their low spread. Oanda, well, probably good enough for just about anything else (Except NFP)

I really like Oanda, not just because of the good spreads but the java platform is nice and has enough indicators for me to trade simple strategies. I also love how you can use their demo for as long as you want and you can reset the balance whenver you want.

If you’re looking for a broker to screw over during trades then any number of retail market makers that offer limit orders are available. IF you want to trade the proper mkt then go to an professional ecn like currenex/lava/hotspot/baxter or fx futures. Good luck getting fills on them though … you will most likley be too slow.

Also, if your trades are med/long term that dont require any orders getting filled during periods of high volatility then any of the mainstream ecns like ib or efx are fine. If you are trying to trade aroudn news (which I again must advise against unles you know exactly what you’re doing) then there really is only one platform worth using whcih is cnx. Findinf a suitable prime broker is seperate problem altogether, while most are comparable wrt liquidty and comms, you shodl really stay away from the fxcm cnx platform

I have accounts with Oanda and IB.

Oanda has tighter spreads and computes interest on the account as well as the trades. If you have large account this could be meaningful. They do have low margin ratio margin 50:1 or less, this is limiting but some may find security in it. They do not have trailing stops and their platform is dependable, but no in bells and whistles.

I like the metatrader platform so I also have account with Interbank FX. I do not like them as well as Oanda. The marginr atio is higher, but the platform is not as stable…it cuts out sometimes, unpredictably, and the spreads are less stable, they seem to increase whenever volatility increases, even if not news time ( Oanda almost never increases speads except at news time or low volume times), this can be a problem if you have tight stops. Overall they are OK, especially for longer term trading.

Overall I like Oanda better and over time will probably migrate to them completely. IB has a very good demo account that can be used for charting using metatrader and real trading done with other broker. .

Oanda is as basic as it comes :slight_smile: Also no hedging.

OandA …#1

I heard IB is an ECN broker, so the reason why the spread widen during news release might be that the banks who provide the quotes widen their own spread.

Fixed spread and no commission frighten me more than changing spread. Where do market makers make their money? It’s because they trade against their customers.

Oanda is good for pre-school traders who trades with their piggy bank money.

But if you are a seasoned trader with a large account, a broker with the currenex platform is the only way to go.

Or if you have successfully passed the pre-school then most of the popular market makers are fine as long as you dont trade the news.

:slight_smile:

Marketiva is my best broker and im glad to be a client.
I like the flexible quantity, no interest and no slippage that they have, they help me a lot with my style of trading.

Looks like we got a Marketiva cheerleader here :slight_smile:

Yes :D, im very happy with their service as i started with the free $5 as a noobie 1 1/2 year ago and now im making profit almost all the months.
Also im happy with their affiliate program, im getting a nice monthly income.

My Favourite is a company called Axia FX, they give me great rates and have a real good friendship with the staff, very helpful and polite…Easy 2 minute online registration aswell

Which broker do you trade with senaka? I’d like to hear more about the currenex platform. Thanks

I got four accounts with FXCM,GFT,Oanda,DBFX. Currently I’m using the DBFX as my main account . Pretty soon I will be opening a currenex account with Manfinancial Singapore and it will be used as my main account.

I googled MB trading and it turned out to be a company MB Trading – Direct Access Stocks, Options, and Futures Trading. I personally prefer a finotec. The spreads are low, 100:1 leverage and great trading platform. You get contact live help, almost any time and chat with one of the analysts.

I use easy-forex as my broker and trading platform. It was really easy and fast to setup an account with them, and I’m very comfortable with their trading platform.

Advantages of easy-forex:
Web based platform - Nothing to download, Trade from anywhere there’s a computer with fast internet connection.
Guaranteed stop-loss.
Freeze the rate you see for 3 seconds.
Allows hedging.

Disadvantages of easy-forex:
Wide spread - Although this is negotiable depending on your account size and trading frequency.
No interest payed.

I have found the staff to be very helpful, and I haven’t run into any problems. I give easy-forex two thumbs up.