Do you know off-hand what the margin is for a 100K position is at IB? There was some discussion awhile back on another thread but I never saw any answer to that. It's been so long since I traded forex there I can't remember how much you need.
First of all, the whole argument about prices moving to stop people out has been raging for years without any solid proof. Secondly, not sure where you have been, but FXCM no longer has fixed spreads. In fact, I have actually observed a few moments of Negative Spreads displayed when there is pricing discrepency between the 6 banks they use to execute trades. And yes, I have executed a trade where I was instantly in the money because of that. That being said, it doesn't happen very often and is not really a trading method whatsoever, but is, instead, testament to their new pricing model. Everyone knows that all brokers have their good and bad qualities but it doesn't make much sense to advise someone about a broker if you yourself are not entirely sure how they function.
Its true I haven't used them for a while. What you are saying is a revelation. If FXCM is quoting you crossed markets how can they be making any money off the spread? They don't charge a commission yet do they? BrockLanders, or whatever his name is, was suggesting to the OP to use FXCM over IDEAL at IB which is not what most traders use. I was referring to this point. I shouldn't have gone off on a rant about FXCM since it seems they would be better than IB's non-margin exchange rates would be less liquid than the IDEALPRO margined rates--which people trade off of.
Thanks for checking up on me. it seems your life is pretty miserable wherever you are the way u attack my post ad hominem. It would be thrilling to have another well rounded intelligent ET'r combing the beaches, which are vast and living the easy life, the costs are indeed still reasonable in my area of the world. Let me know if I can be of any service to you at frat boys 'r us.
Thank you guys for answers and advices. I'am demoing both brokers. The fxTrader demo of IB seems to be based on false quotes, Euro @ 1.8500 (may be it's predictive) lol.
LOL. Truce.. I apologize if you took offense earlier. Sometimes it is easy to go overboard on here. You seem like a reasonable person and I have no reason to attack you. Enjoy...
Boy, try to make it less obvious that you are shill (sure , negative spread and immediately in the money LMAO) FXCM slips your orders, runs stops like there is no tomorrow (first hand experience)
I use them and have never had a problem. I can only state my personal experience. And yes, the negative spread does happen and happened last just a few days ago on EURUSD at -1.9 I only posted that as evidence of their pricing model and even went so far as to say that trading purely off of a momentary change in spread like that would not even constitute a sound trading strategy. Even FXCM acknowledged this phenomenon in a recent live chat I had with them so I am sure there are others that have seen it as well. Nothing very surprising or amazing if you really think about it. As for the whole stop hunting bit, I saw some questionable prices, for sure, a few years ago, but have not in quite some time. Slippage seems to be normal for all brokers and there appear to be some brokers with MUCH worse reputations for it than FXCM. I love how you try to be honest around here and someone calls you a shill. Go figure.