I’ve read this forum and others. I even went to hxxp://www.cftc.gov/marketreports/financialdataforfcms/index.htm
looking for it. It was all greek to me.
[B]I don’t seem to find DA LIST in plain English with all the most honorable brokers. I don’t mind paying extra pips for their service. I just don’t want a crook.
Do you mind telling me who your broker is and what trading platform you use?[/B]
Many other newbies like myself will benefit from your inputs. I know I know. Everybody’s guy is the bestest in the world. It’s all right. I’ll make up my mind by myself anyway later on.
Interbank FX
Gain Capital
Forex Liquidity
FXCM
Oanda
GFT Forex
Money Garden
HotSpot FX
IKon
ODL Securities
CMS Forex
IFX Markets
PFG Forex
FX Solutions
Here is a list of some brokers, take a look at a few, google
their names, follow the threads.
I personally use Oanda & CMSFx for my live accounts, plus MT4 for
my charts.
Daydreamer, thanks for the list. I’m a newbie so forgive me if I’m asking a stupid question. If I’m not mistaken neither of the brokers you use have MT4 as their platform. So I’m assuming you enter trades using their platform and use MT4 for charting? If so, what data source do you use for charting in MT4?
Thanks Daydreamer. You mentioned that you have Oanda and CMSfx as your live brokers. Are you happy with them? Thanks.
Oanda is my main broker & at this point in time I am
quite happy with them. I have live traded with them for
over 12 months without any problems.
Their platform though can take some getting used to,
but it is the same with all Forex platforms, unless you
put in the time to aquaint yourself with all the little
"foibles" you will never be in a position to fully appreciate
them.
The main factor for me was the fact that Oanda have no
referral system, so anything you read about them is not
written to get a ref, which is not true for many brokers.
All in all for a new trader they are very good.
(CMSFx I use because they gave me $500 in a competition a
few months back, their leverage is a little bit high for me 100:1,
plus the VTTrader platform is a bit “clunky”)
My list is shorter than daydreamers but I have personal experience of MG forex, Dukascopy, Oanda and MB Trading. No issues with honesty with any of these
Daydreamer: (Or anyone using Oanda) -
I am demoing Oanda and have gotten use to their platform BUT on Tue I tried scalping, using Tymen’s method, and after the 1st two trades the fills got slower and a protective SL was never registered. On Wed they had many connection problems which might account for Tue’s problems so I am wondering if they do or don’t like scalpers. Showing 5 sec TFs plus nothing longer than Daily would indicate that scalping is acceptable - any thoughts regarding this? Thanks, dobro
I have never really scalped as such, shortest time
in a trade was about 5 mins. (Do not classify that as scalping)
The Oanda demo account though is very unpredictable, I
think it is on smaller server & when the live accounts get
going, this then disrupts the demo server, but don’t quote
me on that.
As I say though I do not classify myself as a scalper, okay
I have been known to get out of trades quickly, but never with
large trade sizes, I tend to stay in a trade to get the most out of it.
Thanks daydreamer65:
The smaller server and high activity may be the reason as this am everything went very well. And I expect a demo acct to take a back seat to the ones who put money down. Thanks again, d.