I don’t trade intraday or trade the news and from what I’ve been able discern this is where most traders seem to run into problems regarding spreads and fills. Would appreciate feedback from traders who trade off the daily charts and have a good long term relationship with their broker. NOTE: I like to use the MT4 platform although that’s not critical. Perhaps more important is capitalization. Many thanks!
I don’t have a long-term relationship with IBFX but based on information I gathered about them for few weeks (and chatting with their support for few days), they are a really good broker. I would always recommend Oanda over anyone else but the fact is their platform just sucks and since I wanted MT4, I went with IBFX. So far so good, I will report more in few months and few withdrawals.
Thanks fastlane. Look forward to your feedback. Good trading!
Live support is very friendly and helpful, registered with no issues whatsoever and it took a whole one day for my funds to get sent, accepted and confirmed via bank wire (Europe to US).
Now I started trading live and I must say the execution is really instant but I get a lot of re-quotes and I very much dislike that. I don’t scalp (90s min trade limit) or trade news and I always close trades manually so I haven’t experienced any troubles with stop hunting etc.
There’s only one more test to go, withdrawal. If I’ll be able to withdraw my money without problems, I’m a happy guy. But I still don’t like re-quotes.
I agree with everything you said and will add one more: wait until you try and close an Oanda acct. The check was written in New York on 11/4 but apparently sent to Canada where it was then mailed to me on 11/10 and received by me on the 18th. But I never got a requote when using them!
Requotes are common when placing market orders. If you want to get in fast use a market order, if you want to get in at a specific price but possibly not get filled, use a limit order…