I am a newbie trader from central Europe who had interest in forex trading for a long time. This year I had sufficient time to start reading lots of articles and books about it. I finally created a demo account two months ago and made some stable profits. I prefer moderate daytrading, fast scalping and also found great joy in trading news.
Still I am not yet totally ready to go for a live account but that point gets closer and so the search for a suiteable broker for live trading has begun. The one my first demo account is with doesnt allow scalping on live accs. I spent the last days with testing various brokers demo accounts and reading big amounts of terms of service. Brokers already broke me, not in terms of money but time.
The ideal broker should have:
-) Negative balance protection!. This is an absolute must-have, dont want to get totally destroyed by someone pulling an SNB.
-) No problem with scalping.
-) Fast and reliable order execution in times of high volatility.
-) Reasonably low spreads and commission.
Brokers I tried so far:
-) Plus500. Sadly no scalping.
-) FxPro. Ctrader isnt that great for me. Also, there are many smallish gaps and quite big spikes even in calm times on EUR/USD.
Spreads are okay but commission is not that great.
-) FXCM. TradingStation+Marketscope are awesome. TS works flawlessly on my mobile devices. No negative balance protection though.
Is there any broker out there that fits my needs? Besides Exness that I might give a try, what brokers did I miss?
Basically FXCM with NBP would be ideal.
Hm, that became more of a lengthy post than I had hoped for. If you made it that far, thanks a lot for reading :).
All suggestions are highly appreciated.
P.S. My first deposit will be in the 1-2k$ range and I consider it to be totally lost, no illusion of making profit on the first try with real money.