Choosing an online broker

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mrmaster
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Choosing an online broker

Postby mrmaster » Thu Apr 05, 2007 8:45 am

Hi,
I have been in contact with several brokers and can't really decide which one to choose.
I like Oanda because their spread is 1-2 on the majors but leverage is only 50:1 .
Saxobank has larger spread but bigger leverage .

Most important issue is of course financial stability and I would appreciate any feedback and recommendations from you.

:?
GL!
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Patch
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Postby Patch » Thu Apr 05, 2007 11:38 am

Hi MrMaster

A few weeks ago there was a thread that talked about how several years ago TS was cited and fined by NFA for trading against there own clients. This is made possible when a brokerage has a trading desk. Look for a brokerage house that does not have a trading desk.

Patch the Pirate
In VA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO
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mrmaster
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Postby mrmaster » Thu Apr 05, 2007 1:02 pm

Hi Patch,
Any suggestions? :D
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Patch
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Postby Patch » Thu Apr 05, 2007 1:45 pm

MrMaster

I am going with EFX Group for forex, and their mother company MB Trading. TRO and Michal both recommend EFX for forex.

TRO also has an audio trading room on www.paltalk.com called the "two percent club". It runs during the trading day from before the New York open and on and off during market hours.

Patch
In VA
Last edited by Patch on Fri Apr 06, 2007 2:45 am, edited 1 time in total.
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mrmaster
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Postby mrmaster » Thu Apr 05, 2007 1:48 pm

Tx Patch!
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Postby geff » Thu Apr 05, 2007 5:26 pm

I think that TradeStation issue was a long, long time ago.
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xstek
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Postby xstek » Fri Apr 06, 2007 2:29 am

All Brokers have to have trade desks, but the problem is how they use them. Some use them to get rid of odd lots for clients, close trades when a clients technology goes down, some even allow for verbal orders. But then some use the desk as an ATM that can spike, hunt etc the client. It all depends on the broker. EFX, Oanda are two pretty solid platforms, I don't really like IB but they are cheap.

xstek
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mrmaster
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Postby mrmaster » Fri Apr 06, 2007 12:59 pm

Hi again,
I have now tried the EFX trade demo platform and have a couple questions that may be stupid but anyways,
When I give an order it does't execute it immediatelly. Does this mean that they are trying to find a match through the banks?
Also the pips do not move simultaneous, why?
What does the red, yellow and green indicators mean under currencypairs?


(I have looked for indo in software under help but couldn't find any)

GL!
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Dracozny
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Postby Dracozny » Wed Jan 30, 2008 8:15 am

Hi again,
I have now tried the EFX trade demo platform and have a couple questions that may be stupid but anyways,
When I give an order it does't execute it immediatelly. Does this mean that they are trying to find a match through the banks?
Welcome to the real market, if you are trading smaller than standard lots in this case EFX considers standard lots to be 10k, then yes you will expect more delays. also consider how price is moving at the time of entry.

Also the pips do not move simultaneous, why?
pips move simultaneously??????? what are you talking about here?
What does the red, yellow and green indicators mean under currencypairs?
this is refering to the spread you can customize this to whatever you prefer, might i suggest you explore the platform closer

(I have looked for indo in software under help but couldn't find any)
navigator help site

GL!
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Postby lady4x » Fri May 16, 2008 4:50 am

I am happy with forex-metal.com broker.
They have tight spreads, MT4 platform, demo accounts.
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