Let me start off by apologizing for starting yet another thread asking questions that have no doubt been asked countless times on this forum before and let me follow that up by saying thank you SO much to anyone who is able to help :21:
So I’ve been live trading for 6 months, I’ve been using Oanda and I’ve been generally happy with them but their spread has also killed me from time to time.
Also, I’ve recently started trading around news times more often and during these times when the spread widens to 15-20 pips the spread [I]really[/I] kills me - I’m taken out of trades seconds after placing them etc.
So I’m considering trying a different broker and would love some advice.
So I liked Oanda because they seem pretty big, and I feel like I take some comfort from this - I don’t feel like they’re going to just disappear with my money. I also felt like their size meant that I’d get good quick fills. I can’t really fathom why there aren’t just 3 or 4 big brokers that are the best because they muscle all the smaller competitors out of the market place with excellent all round performance!?
I like that when I go to place a trade I can enter my stop loss and then I’m told based on the number of units I wish to buy exactly what my $ loss would be if the stop was hit - this way I can manipulate the number of units I’m going to buy until the $ is what I want it to be (I tried doing this on a MT4 account once and couldn’t? Maybe I’m just not that clever!)
I’d rather that my broker wasn’t actively trading against me, I really don’t want a dealing desk - but as a side note why does anyone choose a dealing desk broker!?
I want to trade the news, I’d really like either fixed or low spreads during these times.
I can’t think of anything else? So once again, to anyone that can offer me help I would be so grateful. I appreciate you even having taken the time to read my post!
Hi mate trading the news sometimes be very risky but also it is really rewarding because everyone loves to earn quick free pips.I have been trading the news since a long time and i am not happy with my broker also though his spread widens only to 7-8 pips max during the times of news but a lot of slippage and the slow service kills me.I was also looking for another broker and the best i found in other’s opinion was Oanda and i was thinking to start an account with them but now i am confused again and may be i should compromise with my lazy broker.
With Market Maker Brokers you won’t be able to scalp nor trade the news, sorry but that is how they work. If you try a swing or postion trading approach you might do better.
You need a broker that is on the market and not a ****y market maker. Dont waste your time with these guys.
Trade with one of these: Ducascopy, Alprai Pro, 3TGFX, IBFX.
If I am not mistaken they provide real market. If You choose Alpari only use the Pro, others are ****y
