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Choosing an online broker

Posted: Thu Apr 05, 2007 8:45 am
by mrmaster
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!

Posted: Thu Apr 05, 2007 11:38 am
by Patch
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

Posted: Thu Apr 05, 2007 1:02 pm
by mrmaster
Hi Patch,
Any suggestions? :D

Posted: Thu Apr 05, 2007 1:45 pm
by Patch
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

Posted: Thu Apr 05, 2007 1:48 pm
by mrmaster
Tx Patch!

Posted: Thu Apr 05, 2007 5:26 pm
by geff
I think that TradeStation issue was a long, long time ago.

Posted: Fri Apr 06, 2007 2:29 am
by xstek
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

Posted: Fri Apr 06, 2007 12:59 pm
by mrmaster
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!

Posted: Wed Jan 30, 2008 8:15 am
by Dracozny
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!

Posted: Fri May 16, 2008 4:50 am
by lady4x
I am happy with forex-metal.com broker.
They have tight spreads, MT4 platform, demo accounts.