I decided to finally open a live account and I’m heaving trouble finding a broker that fits my needs, I’ve been trying different broker’s demo platforms and reading reviews but still can’t find something quite satisfactory, maybe you guys can give me some advice.
I’m looking for a broker with good reputation since I’m not looking to get scammed and as low spreads as possible(if broker also offers swap free accounts would be a plus), the broker must also offer MT4 platform.
I will deposit 3000$ initially and I need a broker that allows me to open positions from as low as 2k to as high as 130k (in order to trade using my system). Also allowing micro accounts(since I suppose that’s what I’ll need) with a higher balance than 3000$ is a must.
I should also mention that I’m not an US resident.
Go for a true [B]ECN[/B] broker, I said true [B]ECN[/B], do not go for those broker who claim to be ECN because they say our price are interbank, we offer instant execution, no re-quotes or “we do not trade against our clients” and a lot of blah blah blah and bull****… I am having experience with those kind of broker [Market Makers] eg. in my case: FXDD and ALPARI.
Some people may like those brokers, in fact they are not so crap if you compare them with the majority of the market makers which is really crap, but with you want to be re-quote every time you enter or exit a trade when the market is going in your direction, then stick with them.
MB Trading, ATC Brokers, Dukascopy, Hotspot FX, Interactive Brokers are true [B]ECN[/B] you can not go wrong with them. But as far as I know only MB and ATC offer MT4.
I would very much like to go for an ECN broker(and as soon as manage to gather 15 000 I will), problem is none of them offer me the possibility to open 2000$ positions, as far as I know the minimum is 10 000$ for ECN.
Well, if you do your research you will see that you can still trade micro lots with a ECN and you do not need a large deposit to start with, but there will be commissions.
Try the one that I’m using right now. LucrorFx. Nice platfrom. MT4. Offer Swap free accts. Allows micro accts. STP. No dealing desk. No commissions. You’ll work with experienced customer service.