What unless?
whats so good about instaforex… tell me
brath, seems like you dislike any broker, huh? =) maybe it would be more useful to make kist of things that make broker a good broker so that we could item by item examine each particular…
I dislike crap, not every broker. As for my requirements, I have listed them in my very first post in this thread - pity you didn’t bother to read them.
BTW, found that ridiculous thread where the representatives of InstaForex were caught lying about their bucket shop being an ECN broker - have a laugh: insta ecn? - InstaForex | Forex Forum | Forex world | InstaForex Forum
bravehoststamps, sorry if made it unclear: of course I read about your requirements. But I was talking not about what you want see in a good broker, but what really makes it good. Especially when someone claims that a particular broker is a scam with no reason
Most non-ECN brokers (although not all of them) cheat on the market data to some extent. Whenever I say a broker is bad, it means you will be badly cheated on the market quotes it supplies to you. However, I will not be jumping on you here to prevent you from losing your money by all means. My job is to warn you and then the choice is yours.
Hi there,
I have been using the WSD platform for about a month now and they provide an excellent EURUSD spread of 0.5 pips and deal in microlots within your requirement of 0.01. They provided me with great online support …
What’s their site address? Is their platform MetaTrader4? Do they allow hedging?
All right, I have tried WSD. They do fit all of my requirements, but the backtest performance proved to be pretty average.
In the meantime, I have found another good broker for my needs - So now there are two brokers that suit my needs: Alpari and GoMarkets. I’d be happy to hear of more.
Huh, Alpari… First i visited their web site i thought to myself - what a worthless stuff! Couldn’t they have done it better? Also their quotes always late
summary: like any other broker, nothing special
After doing some research and trying to sort the truth from the fiction (no easy task it seems). I’m still a bit of a loss for brokers. I’m with you on the hedging, which rules out most reputable US brokers, but then you have the added hurdle of getting in with a UK broker (most US traders get the Heisman from my understanding). After looking at other countries I have to admit anything outside of UK and the US scares the badgezes out of me. Other considerations I look for would be: good customer service, easy/quick withdrawls, and a good review history. But even reviews you have to take with a grain of salt as many would-be traders who are less than careful in their trading styles and money management down-grade brokers in their reviews because they lost all (or a good portion of) their money. Conversely many brokers write reviews on themselves trying to bring in new business. It’s a mad mad mad forex world out there.
I don’t like fixed spreads at all - brokers are never going to fix at a competitive level. I think you need to find an honest broker who will stream you a neutral price - basically the guy (engine) making the price needs to be one step removed from the platform - so that they cannot see positions or resting orders.
It is possible to find a platform that will stream you less than 1 pip on EUR/USD for 99% of the time - even when spreads spike, on news for example, they typically only go to 2.5/3.0 pips at the absolute max - in my experience I see that level of spread for less than 2 or 3 minutes a week.
But I’m not trading mini or micro - my broker requires a minimum initial deposit of £5,000 and I trade in decent size. I think their minimum is 50,000 (of base currency) clips - I know that doesn’t suit everyone, but if you’re trading full-time, it has to be the way forward.
You can try wsd global markets… they offer tight and competitive spreads.I have heard only good reviews about this broker. forexbrokerguide.com/wsd-global-markets.
Each to their own of course - but a broker offering to put couple of hundred bucks in my account, just for opening with them … I’d run a mile.
Depends what youre doing though - just a bit of a punt, a gamble, then why not. But if you want to give yourself the best chance of making something out of your interest in trading, you hve to equip yourself with the best range of tools possible, not be distracted by a cash inducement.
Happy XMAs one and all - heres to a healthy 2010 for all, accompanied by lots of healthy trading profits!!
Why have I not read anything about Admiral Markets? They may be an option for you.
There website is fxservice
EUR/USD — 2pips
Hedging allowed
MT4
Micro-Lots
Just adding my 2 cents for what it is worth.
Regulated by FSA Estonia - doesn’t really grab me, to be honest.
You could try WSD Global markets. They are extremely professional and In my opinion provide prompt support on their MT4 platform. Plus they have some of the best spreads in the market…
Give One Financial cfd a go… they pretty good and seem superior in knowledge and trader facilities to most lowly fx companies
Do you mine telling us who is your broker