So, what's the deal with forex bastards :)

Broker Discussion Forex Brokers
21

whats the spread on saxo for the cable?

22

Nevermind saxo - has anyone noticed lately that Dukas is increasing their spreads!!!??

23

Hi everybody,

I was trying to figure out, like every newbie, who’s the “best” broker but after all I’ve read until now I’m more confused. FXCM, Oanda, Saxobank, GFT, Forex.com …
and the list is never-ending.

The only thing I understood is that I should choose my broker in function of my trading style and:

  1. don’t trade the news(risky way) because like mentioned before " the instability in brokers during news hours comes from the lack of available liquidity"

  2. never keep too much capital with only one broker

Did I got this right ?

NB: Did somebody promise a list with 12 good brokers ?

24

i don’t think you should go by the websites because each website promotes one broker and criticizes another. so u wil get nowhere.

25

Where do you trade then?

26

I tried a Demo but I spoke to reliable people before chosing a broker. Online, I kept finding faults with every single firm. It doesn’t help newbies at all.

27

All brokers spreads move sharply and jump during news announcements due to the large money being moved around to suit new economic outlooks.Banks/big money lose money during news is why they change everything around for new trends etc an thats what makes it jump all over the place.The banks/big money are not trading news they are simply adjusting positions to suit and this shows you just how much money they are dealing with when it creates instant 100 pip spikes for us retail traders.You could kind of call major news reports the time that the big money comes out of hiding and for little traders you either gamble to make a quick buck and/or lose money or stay out.However if your using a decently thought out trending system (that you made and that only you understand) then you’ll most likely be going in the direction of the spike anyway not all of the time but the larger ones you will.
Don’t buy any of this marketing stuff from these guys they don’t even trade live money, they make there living from you wanting too, and showing you how using methods they themselves wouldn’t risk a dime on.

28

You might as well ask who makes the best guitar, or the best pizza. sure their are some bad brokers, but overall brokers like FXCM, OANDA, and the other ones discussed are all fine choices. They all have some differences too. I’ve used OANDA and I don’t like the layout. It’s a good system, but I hate looking at it. FXCM is easier for me to use, but some of the tools aren’t. It’s a trade off. I could sit in my house and be indesicive about it, or I can make a choice and move on.

My point is, research your brokers thoroughly but don’t get too wrapped around the axel.

29

I would like to take a look also. Who do you recommend for regular trading also.

Thank you!

30

Massive problems here:

Let me solve some of your problems by recommending a broker that has a trading platform that is 2nd to none, has high integrity and allows you an indefinite period demo account (they say 30 days but that is just a formality - the truth is you keep going). Your live account goes on indefinitely also even if you have no money in it.

The demo is the same one as live. All leverages are offered.

This is my broker and I am very happy with them. You money is kept in a segregated bank account where it is protected against creditors and usage by the broker. Only one thing - no interest on account, but integrity makes up for that.

What you click is what you get except during very volatile market periods.
[B]No broker [/B]can promise stability here.

This broker is not listed on Forexbastards - and why should they.

Now the only problem is …they are in Sydney, Australia. So the staff are friendly Aussies.

Here it is…Best Forex Trading - Broker Forex - Chart Forex - Contact Us

Regards, Tymen Wortel, Perth, Western Australia.

31

OOh man, this is chaos with all those brokers and straight through platforms, and everyone is the best one. I would be very happy to get the list from you forexcranium, maybe there is something in there for me with my small portfolio.
actually i am searching for a ECN plattform but i dont wanna start with 10 k lots and i found a very few but not one was rated very well especially during the news, all had bad critics.
So if anybody could help.

Thanks, mile

32

Hi

Could you post the 12 you like? Thank you! Have a great day!
33

Hi,
I have a live trading account with SAXO. I suspect my account was one of many that were STOP-hunted during 5 Oct NFP’s announcement. On SAXO’s charts, the shadow of the candlestick went down as low as 235.20 for the GBPJPY pair, and within seconds, it went back up to 238.00.

I check charts from other providers but none showed a fall that went from 237.40 to 235.20 and back up to 238.00 within 5 seconds (estimated).

But using charts from other providers, is it good evidence that SAXO played dirty?

Just to clarify, I wasn’t trading on news. I happened to be long on GBPJPY pair and had a trailing stop of about 40pips.

  • ld
34

My assumption with forexbastard is that you get a whole bunch of forex suckers that do not want to take responsibility for their own actions and so they blame their broker. It is the current trend in America, never take responsibility for yourself!

35

Sounds like a great guy Dmitri Chavkerov (aka Felix Homogratus), the owner of forexbastards/forexpeace army. Did you know he is also an ordained minister? He must have good advice! Pair arrested in green card marriage that resulted from Web ads - Los Angeles Times :cool: