Forex Brokers???

Discussion in 'Forex' started by bigpapi, Mar 10, 2010.

  1. bigpapi


    Can anyone PM or post any good forex brokers they're using? They all look the same to me.
  2. I am using fxcm last couple of yrs and worked fine.
  3. spd


    I trade FX futures through Mirus *shrug*
  4. bigpapi


    Thanks I'll look into them, just getting my feet wet in Forex
  5. cstfx


  6. Cambist


    A few things to consider:

    1. Do you want to trade futures or cash?

    2. If cash, do you want to trade on MetaTrader or not?

    3. Do you want to end up switching brokers?

    I've traded for years and with at LEAST 10 different brokers. My answers to the above are:

    1. I trade both futures and cash.

    2. I trade cash on MetaTrader with MBTrading but I also trade futures (along with cash too) on Interactive Brokers.

    3. I hate switching brokers and don't think I'll change now that I'm with MB and IB. I like them both a lot and have had no issues. They are the most cost effective. DO NOT, let this "no commission" BS fool you. You save a TON of money with the brokers I listed by paying a small commission instead of a much larger spread. Each pip in spread costs you about 2.5x the commission you're paying. So read up on this before you get serious!
  7. bigpapi


    Thanks what leverage does IB offer for cash? I'm not into futures now, maybe in the future, no pun intended.
  8. IB is a big hassle for retailers. You have to convert your profits back to base currency using their retail currency exchange system. Other brokers do that automatically for you.