Choosing a broker

Hello everyone, i’m thinking of joining AVAFX Brokers. Can anyone assure me that i’m on a right path. can i rely on them? Pls i need comments. thank you in anticipation.

David

Do you know any brokers that hasn’t got any limitation about amazing system ?
I couldn’t find any of them :frowning:

Hi,

OK - well - never heard of AVAFX so I can’t comment.

Me personally: I can highly recommend Delta Stock (Bulgaria) and GCI Trading (Belize).

Delta Stock: trading of ANY kind welcome (proven and tested). Customer service absolutely excellent.

GCI Trading: do not try to ‘scalp’ the market or trade ‘short term’ - long term: fantastic platform and no problems. Customer service: could improve greatly (although their admin department is ‘tops’ but their dealing desk could be ‘a little more friendly’).

I have threads posted here on both brokers - take a look.

I ask my Q again :
dose anyone know any brokers that hasn’t got any limitation about amazing system ? :confused::cool:

No, i don’t know, sorry.

Hi Dale,
after reading one of your sweet recc. 'bout GCI, i decided to give 'em a try, but am suprised u said “don’t trade short term with them” kind of scary when my system is designed to hold a position for not more than 4 hr.
can you clear the cobweb here?
thanks.

Hi BlackPips,

No problem.

When I say ‘short term’ what I really mean is ‘scalp’ (in this instance anyway). What many people don’t know is that GCI has instant order execution on the Dow, Nasdaq, and S&P and some of the FX Majors i.e. ‘no dealing desk’ (or at least the orders on these instruments do not go via the dealing desk) BUT if you start using this ‘privilege’ to ‘scalp’ these instruments then you will find that you no longer have ‘instant order execution’.

With GCI you have to resign yourself to the fact that they WILL slip stop orders (not by much but it does happen) and if you are placing market orders for the ‘not so popular instruments’ e.g. the ‘exotic’ pairs you can expect to wait a couple of seconds (sometimes even minutes) for an order to get executed and then it will probably be requoted.

I know that after reading the above it’s ‘strange’ that I would give them a ‘five star rating’ but read on.

GCI offers more instruments WITH THE SAME leverage than any other broker that I have come across i.e. you get brokers (like Saxo Bank for example) that will offer far more instruments BUT you don’t get the same leverage on those instruments i.e. you may get 200:1 on an FX pair but you’ll only get 10:1 on an index (not exact figures but you should get what I mean). GCI’s (newly updated) platform has also always been my favourite (maybe because it was my first broker but I don’t think so). The platform is lightning fast and has a ‘no-nonsense’ approach and I particularly like the new ‘feature’ where you can calculate your stop loss or take profit point in monetary terms ‘on the fly’ when placing these orders.

With GCI expect all of the above ‘funnies’ to occur but in my opinion the benefits far outweigh the few pips that they will ‘fleece’ out of you every now and then. Again I say: if you’re trading the daily EUR/USD chart and an order is ‘slipped’ by 3 pips that’s $3 on a $50 lot - hardly anything to ‘lose sleep about’. If that $3 is going to cause you ‘grief’ then I personally don’t think you should be trading ANYWHERE!!! (It would never happen on EUR/USD because this pair has ‘instant order execution’).

Deltastock (as you may have gathered) has also become a ‘darling’ of mine BUT their platform takes a lot of getting used to BUT once you’ve ‘mastered it’ you’ll also find that it’s fantastic.

Both allow you to create / program in your own indicators or systems (same as you are able to do with Metatrader).

Hope this helps.

richson:

I see your question but I don’t understand what you are trying to ask UNLESS you are hoping that we are going to be asking you what this ‘amazing system’ is and you’re then going to give us a link or an email address to which our enquiry should be sent. If this IS indeed the case then you’re on the wrong message board my friend. If you’re prepared to share this ‘amazing system’ with everyone on the board FOR FREE then ‘welcome aboard’!!!

If you’re asking which brokers don’t mind HOW you trade (long term, short term, or you’re a ‘scalper’) and how ‘fantastic’ your system is and how much profit you’re going to make then Delta is your best best i.e. they really don’t mind nor care HOW you trade or what ‘system’ you use or how much you make.

dose anyone know any brokers that hasn’t got any limitation about amazing system ?

richson:

I see your question but I don’t understand what you are trying to ask UNLESS you are hoping that we are going to be asking you what this ‘amazing system’ is and you’re then going to give us a link or an email address to which our enquiry should be sent. If this IS indeed the case then you’re on the wrong message board my friend. If you’re prepared to share this ‘amazing system’ with everyone on the board FOR FREE then ‘welcome aboard’!!!

If you’re asking which brokers don’t mind HOW you trade (long term, short term, or you’re a ‘scalper’) and how ‘fantastic’ your system is and how much profit you’re going to make then Delta is your best best i.e. they really don’t mind nor care HOW you trade or what ‘system’ you use or how much you make.

Same here I do not understand the question.

let me to explain that:
some Broker let you to trade , when some news come to the market . you can have tow different order in different side (up and down side)
some broker don’t let you to do that

Are we talking about “hedging” here, or just about putting
limit orders on either side of the trend to catch the upward
or downward movement.

Amazing system?

I just want to talk about news trading :
Before a big news is coming, we can buy and sell some currencies pairs at the same time, same lots, set stop loss prices for them. After the news is released, especially for the big one, both sides of buy order and sell order will jump significantly.
some broker, don’t let you to do that easily

I am not sure you will find any news traders here, but if I have
missed somebody who is I apologise.

News trading is a very specialised part of currency trading, it is not
really recommended for inexperienced traders.

Most brokers frown upon this tactic, they tend to freeze platforms,
re-quote, slip many pips, etc.

I do not trade the news so cannot recommend any brokers which
allow this practise.

What I would suggest you do is have a good read through the
"rate my broker" forum or google “news trading”

Any ECN broker would allow straddling if thats what you are talking about with orders either side of the current price just prior to a news release. You would have to be certifiably insane to do this, I cant think of a quicker way of losing your money as many have found to their cost. There is no ‘amazing’ system or quick road to riches here and if you havent got that yet then you are a sitting duck

thanks so much daydreamer65 and tonymand

OK richson:

First - if that’s your ‘system’ - then I urge you to ‘proceed with caution’ - no offense - but there is nothing ‘amazing’ about that.

Second - I don’t know of any broker that does not allow you to do that. Having said that though I do know that different brokers handle it differently. My brokers: GCI will let you place those orders no problem BUT they will either ‘hunt’ one of them OR execute both of them and ‘slip the stop’ to the point where you will be lucky to break even. Delta Stock has no problem with this ‘amazing system’ of yours but if you’re new at trading it’s not something I’d recommend i.e. I know it looks like ‘quick and easy money’ but be warned: it’s not I can assure you. And - just ANOTHER word of warning: do not be fooled into thinking that if it’s worked on a demo account it’s going to work on a live account. This is not going happen!!!

Have you looked at GAIN, FXDD, FXCM, or MB Trading?