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Old 02-22-2008, 04:01 PM
 

Join Date: Feb 2008
Posts: 2
Default the best broker for my trading style?

Hi guys, First of all just wanted to say this site has been a great learning tool for me. I've been reading up for about a month and I've been through the pips school twice. I feel I'm ready to start a demo account. I prefer to trade a few times a day, never holding a position more then 2-3 days max. Mainly holding on to a position for an hour or 2. I have been looking at EFX to try out but are the commissions going to kill me since I'm making a higher number of trades?

In short should I go for a an ecn or market maker. thank you
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Old 02-22-2008, 05:43 PM
rhodytrader's Avatar
FX-Men Honorary Member
 

Join Date: Dec 2006
Posts: 1,000
Default

The commission question is entirely based on how much they charge relative to your typical profit per trade. If an ECN is going to take a sizeable fraction of your gains, then you probably are better off with a market maker. Keep this in mind, though. You might be able to get slightly better fills with the ECN because they don't have the fixed spreads, so sometimes the spread is going to be narrower.
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