Hi there guys/gals! I hope u have a GREAT time on your xmas vacation!
I’ve been educating/demo trading for 2+ years,
so I was thinking it was about time for me to give myself a 2012 present and get live!
However, I’ve been having trouble choosing a legit broker
(it must be like the 100th time of a similar post, but every trader has different needs…),
so let me just cut to the chase…
Things I do NOT care:
1)Spreads! (I focus mostly on swing/mid term trading through daily/H4 charts so 2-3pips
ain’t gonna make a difference after all)
2)Execution timing (however reasonable, I don’t want my order to get filled 2 hours later…)
3)Charting Packages (I’ve been accustomed to FXCM’s Marketscope so no matter which broker,
that’s the one that I’m gonna use)
4)Leverage (1$/pip is pretty much my risk tolerance)
Now, things I DO care:
1)1k/micro lots (I want my broker to allow micro lots for scaling out/in)
2)minimum deposit less (or equal) to 2000$/E (aint gonna throw more than 3k on FX just yet ;))
3)account in Euros. (I live in europe so euros is what I need )
4)stop hunting (even though I’m not pretty sure that on a 1.5tril$ market that’s sth that a mere broker can actually manipulate, I’ve heard lots of bad stuff about brokers and I would really like your opinion on it…)
My first choice was FXCM, but the problem is that their micro accounts are only in $,
so every time that I wanna withdraw money (assuming I am profitable ) I have to convert them to euros… My second choice was OANDA, but I’ve searched through the net and I haven’t read good reviews even though many ppl seem to prefer them as a broker!
So, I would really like to hear your thoughts and your experience on the subject!
Plz Help!
Thanks!
Thanks for your replies guys! I have actually already checked those sites…
Anyone have any thoughts on deltastock? They are european, ECN, they provide
Level 2 market depth and trading on looots of instruments…
You may already be aware of this, but just wanted to let you know in case not. You can trade micro lots in the EUR denominated standard account. Difference from the “micro” account being that the minimum is €2,000 vs. $50 for micro.
Thanks for the reply.
I saw that FXCM offers micro lots and partial position closing on the MT4 platform,
but are they also available on the TSII platform on a standard account? If so,
then why is that not an option on the demo?
Good question . All FXCM US accounts default to 1k micro lot sizes and FXCM UK MT4 accounts do as well, but FXCM UK standard accounts do not. I’ve brought this to the attention of our operations team for consideration to change it.
What I can do for you is change the lot size on your demo if you want it changed. Just send me an email at <[email protected]> with the demo username. And if the request is for a live account FXCM and you don’t have access to micro lots, send an email to <[email protected]>, and we can get it setup for you.
"but FXCM UK standard accounts do not"
So, if I open a live FXCM UK standard account, will I be able to trade micro lots or not?
Can you setup the tradable lot size on the account so that I can trade micros?
Didn’t really get that…
Sorry about the confusion. The account will default to 10k lots, but you can request micro lots be enabled. You would need to do this once the account is open and funded.
I cannot say anything about FXCM because I never tried it, but I think it’s a good broker.
By the way, I think you should look at this Forex Brokers Guide - BabyPips.com
Good luck and best of luck
