Foreign brokers

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newschool
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Foreign brokers

Postby newschool » Sat Jan 23, 2010 6:12 pm

I edited this thread in reaction of the recent law passed in USA, wich greatly reduce the power of US traders, both in trading and in capital control.

Please post brokers or IBs you tryed !

1. ActivTrades - serious broker, regulated in UK but based in Germany.

2. FxOpen - relatively new comer but offers many things to standout like level2 and true ECN. Regulated in Mauritius but seems to haver offices and servers in multiples countries.

3. Russian broker - I currently use this one since they offer high leverage and they dont really care where you are from. PM me for a link, I prefer not too share it in plaintext , simply because they are small and dont wish to be mainstream.
Last edited by newschool on Thu Apr 01, 2010 5:52 pm, edited 6 times in total.

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bast
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Postby bast » Sat Jan 23, 2010 6:31 pm

hi,
Nice idea, i'll check theses kind of threads, if others want to do it, it would be apreciated too !

edit:hehe Patch i was expecting exactly that kind of questions, but you guys know what to ask :) looking forward for answers too
Bast
Last edited by bast on Sat Jan 23, 2010 7:02 pm, edited 2 times in total.

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Patch
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Postby Patch » Sat Jan 23, 2010 6:56 pm

newschool

Great idea.

What is there "regular" spread on the EurGbp, EURUSD, GBPUSD?

How is their trade execution? Are you trading live as yet? What kind of fills are you seegin?

Thanks

Patch
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Postby dchappy » Sat Jan 23, 2010 7:10 pm

hmmmm....10-1 vs 1000-1 hmmmm 8)

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Postby PTG » Sat Jan 23, 2010 8:05 pm

Thanks for the review. I came across them in December, but hadn't taken the time to take a close look.

Any idea about their financial situation ?
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Postby adaseb » Sat Jan 23, 2010 9:21 pm

1:1000 leverage?

Holy

So with $1000 I can do 10 lots. $100/pip

So if it goes 10 pips against me, margin call and account drained.

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Postby dragon33 » Sat Jan 23, 2010 9:59 pm

1000:1 i would never try it.

400:1 is could be handled if you now what your doing!
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Postby newschool » Sun Jan 24, 2010 5:07 pm

Patch,
yes I am trading real money and I find the spreads good, I will post them as soon as the market opens. I had no trouble with market execution, they have a server in New York and I get 20ms delay from Canada ! They also added a server in Europe. I dont know if you guys know how to test that delay from your MT4 feeder?

PTG, I didn't ask... but you should, their live customer support is quite fast.

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Postby frang0nve » Sun Jan 24, 2010 6:35 pm

I currently have live account with 3 different brokers/market-maker and they have something in common:


OANDA's trading system is designed to automatically liquidate all open positions if your margin deposit is in jeopardy so that you cannot lose more than the funds you have on deposit in your account.

IGMarkets:
You can never lose more than your initial deposit.

FXCM:
Never Pay Debit Balance as a Result of Trading

I don't like this kind of terms:

Exness:
Execution of transactions with financial instruments may entail uncontrolled losses.

MBTrading:
You may sustain a total loss of initial margin funds and any additional funds deposited to maintain your position. If the market moves against your position or margin levels are increased, you may be required to deposit substantial funds on short notice to maintain your position. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit.


Think in this scenario:

You take regularly your profits from your trading account to limit your risk to 2,000 USD.

You open a long EURUSD trade 1 lot big (10 USD/pip) with 20 pips SL and 40 pips TP.
So you intend to risk 200 USD for a potential 400 USD profit.

Suddenly a major unexpected event ( terrorist attack, nuclear plant colapse, central bank authority accident, war declaration,...) bursts and the spread goes from less than 1 pip to 500 pips, triggering your SL, but given the panic situation and the lack of buyers your position is closed 4,000 pips against you.

Your account is margin called and your friendly brokers expects that you cover your account deficit that now is 38,000 USD in red.

Cheers

Francisco

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