Hey ET; I am looking to trade some FX. I like X Trader for trading the sixes...6E, 6J, 6A, etc...I have used TT in the past and they are excellent. However I am trading with a smaller account size and I cannot justify $700-$2500 in platform fees, as this would kill me on flat month. Velocity has x trader without platform fees ($4.75 a round turn), however they can't do a Canadian account! So that is out. I have not been able to find another broker with that type of arrangement let alone one that does Canadian accounts. So I have decided to switch to spot fx. I was wondering if you guys might be able to suggest a broker/platform for me. I need something that will deliver fast fills and minimal slippage. Please do not suggest FXCM, I was not happy with them. Thanks guys.
Correction: Please note I dont not require a Canadian firm, only one that allows for Canadian accounts. Please post your best recommendations and I will check to see if they allow for Canadian access. What I have been reading about MT4 is alarming! I am having trouble finding a broker I can trust for forex. Some firms are claiming NDD + STP/ECN but still offer MT4, what gives? Is there any way to trade forex without getting ripped off by these bucketshops? I might just have to suck it up and trade with TT, CTS, or CQG. Paying through the nose on a monthly basis still seems better then getting ripped off on a routine basis by these firms. Some of my strats trade off news and I can't afford the slippage/requote/freeze games. Dying to hear from you guys, thanks.
The obvious Non-Usanian friendly firm is Interactive Brokers. Trade futures or fx-ecn as you wish. Not that I like their front end - but Sierra Chart works for me.
MB looks good. Are they the real deal though NDD STP/ECM, or are they just another bucket shop? What are your experiences with them? *Just a side note for my fellow Canadians MB does Ontario only.
i've heard decent things about PFGBest. i guess you want a broker near you and also near the interbank server for wherever the fx broker routes the orders (to maximize speed). But figuring that out, if you care about speed, placement into the queue that much, would be some detective work. i'll be trading automated with Dukascopy, MB, PFGBest, and CitiFX. Also with TradeStation Forex when they come out. I'll repost after a few months of trading with a summary of my experience.
I have traded with Dukascopy for the last 7-8 months. Their server seems quite stable. I have only had once my orders no going through and no confirmation, leaving my to question did I get the fill or not. Their platform is more suited to swing or longer term traders. I find, it takes me a lot of time to alter prices as conditions change. NinjaTrader DOM provides their software for free to use with Dukascopy, which would makes things faster for scalping but you have to pay $499 to DNT bridge to reroute the data to NinjaTrader. Personally I think that is a rip-off. MultyCharts are supported by Dukascopy and are fee but their DOM feature is not supported by Dukas.