I have been trading forex for a while and have mostly used one broker. That broker is FXCM. However, with recent happenings, I’m going to investigate other brokers. Can any of you give me a review on brokers with the US that you have used? FXCM has one of the best platforms which is why I’m hesitant to leave. Finding a broker is the hardest part of trading forex. Any opinions would be greatly appreciated.
I also have an account with FXCM and I do like their platform but I do most of my trading with Oanda. They have low spreads and very little slippage. They also let you trade in units instead of lots which is great for small accounts. I trade on their FxTrade platform. It’s not that great for analysis though so I use their MT4 for that.
I used to trade with FXCM but changed to IB as I could basically cut my commission costs in half.
I really dislike the IB charting software though but for the way I trade I just use www.tradingview.com (which is free) for all my charting analysis and then place the trades afterwards.
IB also has abt 5 billion$ in net assets and as such is perhaps the most robust none bank broker out there from a financial stand point.
Yeah I’m familiar with IB. Their charting is truly awful. It’s so confusing and not user friendly. However, you can trade stocks, options, forex, etc from the same platform which is nice.
For USA, Interactive Brokers and MBTrading are great options. They are both ECNs and have competitive commissions and very tight spreads. And IB is a very sound company, financially. Something to keep in mind, after what happened last week.