Good Broker for Trading in London with MT4 - Advice Please

Broker Discussion Forex Brokers
1

Hello all,

I would like to know of any good reputable brokers.

I am from London, and will be using MT4.

Thanks in advance.

2

I heard good things about AxiTrader.

3

Would prefer a UK Broker thanks.

Just went on there and seen 2pip spreads on cable, not really competitive if you ask me.

4

Shame you have to go with a UK broker. There are several brokers I am aware of who at this posting are quoting Cable spreads below 1 Pip:

Pepperstone
ThinkForex
IC Markets

Euros spreads on these brokers currently are running at 0 to 1 Pip. Not sure if they have UK offices, but you could check. I use all 3 of the above in Australia.

Cheers,

Erron

5

It doesn’t have to be a UK broker, as long as my account can be in GBP (£)

and is reliable.

6

I’m pretty sure all 3 brokers listed above can accommodate that requirement, I know Pepperstone does. All the best with it.

Erron

7

Try OANDA.

8

I don’t think UK brokers can give you any decent leverage

9

I trade with GKFX and Activtrades. Both UK based, both MT4 (ActivTrades also offer MT5), both spreadbetting and both 100:1 leverage.

GKFX is my main broker. The one feature they offer are fixed spreads. Irrespective of market vol, their spread does not change. For me, that is a big plus. In my opinion, most brokers fight it out over spread size but rarely are my trades going to be affected by a 0.7 difference in the spread! But, spreads can widen hugely when trading out of hours or around news times. So I personally would take fixed spreads any day, and I am happy to pay for the slightly larger spread size as a result.

Just to put this into perspective, EURUSD spread is fixed at 1.5 pips, GBPUSD is 2 pips, USDJPY is 1.7 pips, FTSE and DAX are 1 pip, Dow is 2 pips, Gold and Brent are 5 pips, with other majors generally fixed between 1.5 and 2.4 pips.

J

10

Does the location of the broker affect latency?

11

yes it does, if you ever have playing online gaming the latency are matter of how fast your respond, react are depend on how small latency is. in related with trading, latency could be crucial thing when do scalping especially when using EA. I’ve got hundreds ms latency while accessing Tickmill platform through my PC, that’s why I use Europe base VPS ( EA purpose) and it’s shrink into single digits latency since their server based on London. and I believe they also offers GBP account but better ask their support to make sure, never had any other account instead of USD.

12

It’s not so much the location of the broker as the location of their servers. You want their servers to be located in such a way that you have the shortest possible route to their liquidity providers. That’s where the latency comes in.

13

Thought this was a good idea, but tried them out and their spreads are not fixed like you say they are. Constantly fluctuating.

15

are you looking for a broker with servers in London or that are based in London?