i dont think im understand the differences. im trying to hard to find a good broker but its so hard with so many people whinning about buckshops, stop hunting, slippage,being locked out of their accounts around news times and spreads ...
i notice alot of people whinning about brokers like Oanda seem to be news traders. well, im sure on Oanda's site they do warn you that variable streads can range high during volitile times. so, why not get a fixed spread account with another broker if you want to trade the news? am i missing something here? or do brokers with fixed spreads do nastey tricks also? what are the best brokers for trading news?
also, i dont quite get the difference between ECN and MM. i know the text book definitions for both but i dont get it. maybe someone can list the pros and cons for each and demonstrate what kind of trader or trading style would be right for both. i read that ECN are better for news trader. is this true?
also buckshops, stop hunting and brokers doing reverse trades? are these really so bad. when im reading reviews alot of people make such a big deal about these things. do brokers really care if you are a good or bad trader? do they really prefer bad traders and do what ever they can to get rid of the
sorry for all the questions. would appreciate any insite. thanks.
I doubt most brokers could give a dang about the profitability of their customers. I think the only thing they really care is how many transactions you make. I feel your pain honeb. I read the same reviews you read at forexbastards and it just makes everyone look like a bad guy. Probably rightfully so, but I think it is the responsibility of the trader to avoid possible issues. I mean who cares about stop hutning? Shouldn't one be able to figure out where a lot of people will be putting there stops and thus not put there stop there? However, I do think it is unethical for a broker to take a position against their customers. Obviously they would have a conflict there and I would not trust any broker that took position against their clients.
Personally I am don't get why people so dearly want to trade the news. Some of those spreads are crazy, but so what. I am perfectly happy with all the opportunities the market gives me outside news trading. Honestly, I think I will probably trade Oanda just cause their Java platform is one of the better platforms I have seen. They are fulfilling a need for me, Java based platform.
As I see it we will all hit rough spots with the brokers we interact with, but I think that is what should be expected and should be considering in the efficiency of your trading method. Hopefully you can get the rough spots worked out with your broker and try to avoid them as much as possible.