Best Forex Broker for Intraday Traders

Discussion in 'Forex Brokers' started by enkidu, Aug 1, 2008.

  1. enkidu

    enkidu

    I'd say I'm an intra day trader who holds a position for a short while...

    like 30 mins or less. couple times a week maybe a few hours, but rarely so.

    anyway, what brokers do you recommend?

    I thought I'd contribute to this forum as well so here is my experience with Forex.com

    1. EXCELLENT!! customer service. When you want to chat with a representative, they are always there within about 30 secs at the most.

    2. You can call them too. They're basically well staffed.

    3. I think their cost is a little high though... esp. for USD/CAD which is what I mostly trade

    4. If you click too fast their platform crashes, unlike Oanda which responds faster

    5. it looks prettier than oanda


    But yeah, the platform is slow and sloppy and I feel it's going to crash any moment. And I don't like the spreads. I often get 5+ pips and I'm tired of it

    So anyone recommend a broker?

    I don't need fancy charts or reports or lessons. I just want low cost and good execution. And I don't want them to cheat trade against me =[
     
  2. Pippi436

    Pippi436

     
  3. 1358june

    1358june

    ADM Derivatives, Inc. is getting a good rep for pricing and execution.

    I haven't opened an account yet. Just starting with the demo.
     
  4. TRS

    TRS

    You're after a Market Maker. Brokers are for
    futures.
     
  5. Choose a No Dealing Desk broker ( especially ECN broker ) as the prices are streamed live and less manipulation since there's no human intervention.

    MB Trading charges by commission ( about $0.05 per 1000 currency units ) while FXCM charges by marking down/up the bid and offer prices respectively. Whichever broker u choose, ensure that they are regulated by CFTC or NFA

    http://fxarcade.wordpress.com/forex-brokers/