I am brand new to babypips. I`ve been trading for about 3 months now and been using the FXCM trading stationII platform with FXCM on a micro account. Can you guys tell me what your thoughts are on them.
I have just signed up with Alpari UK and using the MT4 platform. I seem to be making alot more profitable trades with them as a result of the lower spreads. I seem to have fallen into the scalping catagory where I am trading all day making many trades with small gains each time.
If anyone knows Alpari, is their demo account a true reflection of what the markets are doing and will their spreads increase when and if I open a live account with them.
Google “Alpari UK scam” or “Alpari UK review” and you should be able to sift through the results quite quickly to see what you want to know. However, I’ve heard it rumored many times that demo accounts usually are made to perform better (by the broker) in order to convince people to hurry up and start using the broker. Also, FXCM is being “sued for fraud and racketeering” so I would be cautious if using them.
A demo is useful for learning how the platform functions and placing practice trades, but you should keep in mind that a demo cannot simulate live market execution since demo orders are not executed against actual liquidity. If you have questions you would like FXCM to answer, please feel free to visit the FXCM Broker Aid section of the forum, and I would be happy to help.
For live execution, I haven’t found a platform better than MT4…especially if you have any knowledge of programming EAs ;). I personally prefer PFG (Best Direct) as a broker because of their low spreads and commitment to “not” taking the other side of the trade against you (wow, I really sound like I work for them don’t I? Which I don’t. Ha!).
Thanks for the advice. Its been a tough learning curve from finding the right broker to dealing with the emotional ups and downs of day trading, Ive lost a few Quid in the process but am determined to make this work. Ive realised its a whole new ball game messing on demos to when there is real money involved. Ive had a good end to the day by correctly identifying an up coming gartley and executing ending the day up.
As for the platforms I seem to struggle on the MT4, I find FXCM`s TS II very user friendly, so gonna stick with them for now.
I have a live account with 4XP ( forex place ) aswell, any thoughts on them guys.
