Like FXCM but more things to trade?

Broker Discussion Forex Brokers
1

I intend to trade typically maximum once a week and long term holding for hopefully about a month each time. No leverage; it’s addictive and it’s the principle - an Islamic account would be fine in that regard what’s the point of an Islamic account - what does no swaps mean in regards to that?

I also would like to trade a smaller amount autotrade; $7,000 and I think I will go with Zulutrade and AAAFx but I find the hiding of fees in the pips convienient with the sliding scale but disingenuous. I don’t like anything where it’s difficult to compare the price of things. It will be hard to be careful with such a low balance.

Regard FXCM for manual trades:

  • I like the service. Spreads aren’t as low as AAAFx
  • I like the spreadbetting tax optimization option… they say they operate no leverage but I’m still suspicious of it
  • but they don’t offer many things to trade; no lean hogs etc
  • I don’t like the platform. It’s just seems so clunky and overly complicated for my purposes. In particular I didn’t like that an error message told me “There is no trade available for that price” when actually the market was closed. I guess I could use exclusively the phone…

Stuff in [I]italics[/I] I don’t need as I prefer to hold directly. Stuff in [B]bold[/B] I’m particularly interested in. I found FXCM doesn’t cover a lot of this… I find myself trying to use a currencypair to trade on an index for example.

[I]AUSTRALIAN DOLLAR
BRITISH POUND
CANADIAN DOLLAR
EURO
JAPANESE YEN
SWISS FRANC[/I]
USD [B]INDEX[/B]
MEXICAN PESO
[I]NEW ZEALAND DOLLAR[/I]
[B]CRUDE[/B] OIL
RBOB GASOLINE
HEATING OIL
[B]NATURAL[/B] GAS
CORN
SOYBEANS
SOYBEAN OIL
SOYBEAN MEAL
WHEAT (CHICAGO)
WHEAT (KANSAS)
WHEAT (MINN.)
OATS
ROUGH RICE
LIVE CATTLE
FEEDER CATTLE
LEAN HOGS
[I]GOLD
SILVER
COPPER
PALLADIUM
PLATINUM[/I]
COCOA
COTTON
COFFEE
SUGAR
ORANGE JUICE
[B]LUMBER[/B]
[B]S&P-500[/B]
NASDAQ-100
DOW-JONES-30
RUSSELL-2000
S&P-400
FED FUNDS
EURODOLLARS
2-YEAR NOTE
5-YEAR NOTE
10-YEAR NOTE
30-YEAR BOND

Finally, it would be nice to set up something to trade according to a preset condition such as “Buy X when MACD crosses over”. I have a linux VPS that could do this but no idea on how to do that sort of thing on the commandline. My goal in this is not programmatic trading but more like assisted manual trading so I don’t have to keep checking to see what the market is doing.

2

You can check which features and instruments each broker offers in some sites, there are a lot of brokers out there and I’m pretty sure one of them has what you are looking for.

3

Hotforex has most of them

The only one I have not see are the 5,10,15 bonds you requested
I know they trade coffee etc , and a few big share , like apple etc

Igmarket had every single one and more but they are a market maker - you can even make binary option on market news and election

4

Omg don’t go with aaafx

There one of the worst out there , even if you save 1 pip spread with Zulu

My Zulu account is link with hotforex

I don’t like to bad mouth any broker but gees aaafx .
I wasn’t happy with customer service , despoit time and withdraw are soooo dam slow . I am taking about 3-4 weeks for withdraw and you have to scan paper work every time ( which they say is not clear , not dated etc) then it at take a week for there account department to approve … Then when they finally do approve the whack you with a exit fee … And for some reason there over sea payment take 3-4 week (BS I say , I’ve had withdraw from click to my bank in 4 days )

The fact the charge me a exit fee to withdraw my own money annoyed me .

Have a look at zulutrade there some thing like 30 broker that use the service

Also I was worried when I was with aaafx as they are base in Greece :frowning:

5

I forgot to tell you . Every one think that aaafx is the best broker to use with zulutrade .they are own by the same company … But aaafx normally doesn’t have the best slippage .Some time there close to the worst - So it going to cost you more pips with slippage

6

Just a note - hotforex has free vps for account over $5000

I know other broker offer vps … But some don’t host the vps … They just have deal with 3rd party

I personally have account with hotforex but use my work vps as the ping is lower to my home PC

Also linux vps for forex is a bit hit and miss - Mt4 is a bit different using linux emulator (wine or playonlinux ) it work but so much easier with windows linux

7

hotforex bad reviews: earnforex (com) /forex-brokers/HotForex

Thank you for the AAAFx warning. I had a feeling something was up.
I don’t see any research into how secure funds are at this brokers?

Linux VPS: It sounds like trades are used to using a GUI. What I’m looking for is for a command to be issued by the commandline such as " $tradetool -buy100 -when “MACD=2” XAU ". I trust the commandline more than I do with these interfaces. I’ve already found a few bugs in trading interfaces. The difference is that on the commandline you’re more likely to see the error. In a GUI the thing is more likely to just freeze or look like it has done something when it has not. And of course, with a GUI you’re more tied in with only plugins for adaptation.

8

one of the best thing i love about hotforex
they give you a visa debit card that is link with your trading account … this is the first broker i have ever heard of this

if i get wind of any thing , i am driving to the closet ATM and withdrawing all my funds ,( i am going a **** load in over sea fees and atm fees)
withdraw time cash in hand is 4 min drive for me - not like other broker that take forever

with ur web site - did you read that bad rewview - half of them sound like they are on crack

Quoted
"Hotforex scammed me !!!

I made a deposit through Moneybookers, later I withdrew the same amount through a Moneybookers withdrawal request. But this was not possible they told me. I had to fill out withdrawal request. so I did and after that my money disappeared. The transaction info Hotforex sent me is false, my bank told me. So they just stole my money!"

this is total BS - if you despoist with money booker , you have to withdraw from moneybooker CHECK YOUR MONEYBOOKER ACCOUNT … maybe he use this money at POKERSTAR lol … lyou know ppl are scaming when they ask to pay with moneybooker

this is the same with all withdraw from broker

hell if my account got hack , i hope they ask me to send me the same form and send it back to the same account i deposit with and not the hacker bank account

2nd
this guys english is worst then mine :58:

““Uzair Mahmood from Pakistan. Trading account #1XXXX7
Sunday, March 31, 2013
I am 2 year loseing experiance with Hotforex. After two year my openion this broker is against clients.I trade Forex, Cofee and Index. once I buy Dax Inex bid and ask diffrince 25$US mean I lose 25$ when buying the instrument. I am also trade Cofee.The price of micro cofee lot 5$ US but some time you buy Cofee micro lot bid and Ask diffrince 136 bid price 141 ask mean time of sealing or buying you lose 40$ just click and if you have 50$ in your account your account delete just one click. They are not responcible clients complands I am soure Hotforex regulated Authority also scam.””"

he is talking about the different in the buy and ask price …:35: like duh that is called spread … they guy was trading with $50

come on … have a look at the the reviews mate

9

holly crap , you must be a linux nerd , i have never heard that type of talk on here :47:

question , how are you going to get the commend => the broker , i thougth MT4 has to comfirm and open the trade - you need Mt4 to create a broker ID code … which get sent to the broker … broker send a ID code back to the MT4 to confirm that the trade has been open

so your going to create a scrip to open mt4 thought wine => to open and close trade

why dont you get EA for a Mt4 -
there are soo many EA out there that does this already , buy 0.01 lots …if MACD is = 2

10

You opened an account with HotForex bro, what do you expect to happen?

12

hahaha correct! One should do a better due diligence when trusting their money!
Like myself, I did with aaafx, after alpari ate my account with extra commissions, spreads and slippages…

13

[QUOTE=“EDDY MO;521312”]

hahaha correct! One should do a better due diligence when trusting their money!
Like myself, I did with aaafx, after alpari ate my account with extra commissions, spreads and slippages…[/QUOTE]

Slippages suck .i have notice a few trader list photo of charts and you see huge gaps .

Only gaps I see is from the weekend .

15

Hi Eddy Mo,

I’m sorry you feel this way. I don’t like commissions either. That’s why we offer you different account types. Our Classic, Micro and spread betting account clients can benefit from tight spreads on 37 major and exotic pairs. MT5 account clients can trade 34 currency pairs. Pro clients receive up to 57 pairs with spreads from 0 pips. Commissions are only charged on the Alpari Pro account. We always do our best to tailor a commission schedule that is competitive and meets your trading needs. The Alpari Pro account is designed for the professional trader, where tight spreads, immediate execution and a competitive commission schedule are paramount. Thereby offering a lower transaction cost through a reduced spread/commission combination.

We aim to give you transparent prices and the tightest spreads we can provide. On our No Dealing Desk forex execution, we simply pass on the best prices we receive from our liquidity providers. That means when our liquidity providers widen their spreads, you will see our spreads widen likewise. Alpari UK offers tight spreads not only on a few pairs but on the full range of currency pairs we offer.

With regards to slippage, orders are never guaranteed because if volatility is high, prices can be missed and we may not be able to obtain a quote for you at the price you requested. Orders are also sometimes filled away from the desired price due to gaps in the market. This occurs because currency prices can sometimes be very volatile or liquidity can be thin.

To add some background, slippage is not an invention of the retail FX market. It exists in the Inter-Bank FX market and has done even as far back as when the principal method of trading was by shouting.

Part of the problem here lies around the execution conventions of certain order types. The convention around Stop Loss orders is that they are open-ended. There is a risk of slippage that is determined by the prices available in the market, but the understanding has always been that these are an “at best” order – because as painful as some slippage might be, it might be a lot more painful if the order just isn’t filled at all.

With Stop orders you have to remember that, by definition, you will always be trading in the direction of least liquidity – and some slippage should be factored in. FX is remarkably uncomplicated in this regard. It always follows the path of least resistance. Occasionally this slippage might be modest, but the realistic fact is that when you trade at the point of greatest uncertainty there is no way to pre-define your risk.

The common complaint around slippage really boils down to individuals unhappy that no-one wanted to sell cheaply to them in a rising market or buy at a high price from them in a falling one.
This is not an uncommon criticism, but you need to consider the other side of the equation, which is quite simply -what’s in it for them ?
By what right does any participant in the market feel he should be able to deny his counter-party the right to trade at a price that doesn’t suit him ?

So in this context your query regarding the regulation around slippage can be answered quite simply. If you start dictating to the market participants at what levels they are permitted to buy and sell, then you no longer have a free market and they will abandon it.

Moving on, we know that regulation is important for your peace of mind. That is why we’d like to take the time to explain how Financial Services Authority (FSA) regulations work and make sure you know the facts. In order to be licensed and regulated by the FSA, we need to adhere to the regulator’s rules and obligations. The FSA performs frequent checks to ensure businesses are fully compliant.

We put your interests at the centre of our business to ensure we comply with FSA Principle 6: “Pay due regard to the interest of its customers and treat them fairly.” Read more about how this principle is applied across all areas of our day-to-day business activities.

Alex

Alexander Chadwick
Alpari (UK) Representative

16

Which traders are the one that you are referring to? ,…true in general slippage can get to be quite an issue …

17

[QUOTE=“EDDY MO;521667”]

Which traders are the one that you are referring to? ,…true in general slippage can get to be quite an issue …[/QUOTE]

Some one befor was show a cad/jpy trade can’t remember who it was . But when I was looking at my own chart … The slippage was close to 30 pips

18

Slippage is a broker’s thing! Check it out?
However, 30 pips is too much! Send it for investigation - this is my advice - go online with the support of both your broker and zulutrade to see what’s happened there!