Which is your best broker?

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.

For me Marketiva is my best broker.
you can trade as little as $0.01 in there. this policy will easy fund management. and i think to distribute your funds properly is the most important thing in forex trading , right?

marketiva support e-gold deposite and withdrawal, this made me can get my money within oneday time no matter deposite or withdrawal. and the fee is very cheaper.

of course there are plenty of advantages in marketiva waiting for you to discover them out.

my slogan is enjoy in trading , enjoy in marketiva. good luck :slight_smile:

I like Marketiva more than before, they autoupdated streamster (Marketiva plataform) and we are now able to trade with funds, its a great service because it allows me to diversify my funds in short term (forex) and long term (funds).

GFT had a great charting platform… their custormer service is good… would recommend them thru their spread is standard 3 pips.

I am also from Singapore and trade with Oanda and MAN Fx. Oanda is fine if you stay away from the news release. GBP can widen to 25 pips. Still, I consider them light years ahead of FXCM and GFT.

I will be starting with DBFX soon.

MAN FX Singapore?..That’s the reason why I am going to DBFX. Watch out. Make sure you open your account with the FX department and not the Futures. Their 2 staff do not seem to cross talk. For Futures, talk to Mr. Tahir. For FX talk to Mr. Moorthy. Their “blank page” (the boss). is Mr. Tarun. My account was “classified” a Futures account because it was brought over from REFCO. Despite constant requests, my account was never passed to the FX department, nor granted permission to the FX department to access it. When I have a problem, Futures refers me to the FX desk after a slight delay. Then the FX desk would say they are not handling my account and they don’t have access to it, so couldn’t help.

At REFCO, their Currenex platform charged me 1-2 pips spread plus one pip commission. That’s ok. But at MAN FX, I was charged the same spread plus 4 pips commission – just on one side. From a winning position, I was charged until I lost huge.

You still want to go there? I suggest you wait till they sort themselves out.

DBFX is a white-label for fxcm. The platform is the same as fxcm with a different skin, your account application is inputted through fxcorporate.com (FXCM owns this domain).

ABN Amro is also a white-label for oanda now.