they are primitive... are all forex dealers this primitive with software and support? what broker are u using? because its so primitive, I havent really been trading very much in it... only have about 1k in the acct and its just been sitting there. Any better platforms? Anyone have any experience trading forex? or experimenting with it.. thanks.
had the account there for about 1 year... only made about 30 trades tho... nothing else has come to my attention. but i'm not saying they are better than anyone else... I seriously don't know and would like to find out more about it.
hmm, as far as "primitive" or whatever goes... these days way over two thirds of all interbank forex transactions are still done over the phone... and that is really all you need, a phone and a good chart provider like CQG etc... that's really all trading is about... as far as platforms go, and that is going to be the future, for retail customers that do not have access to the likes of multibank platforms like fxall etc., oanda are absolutely as good as it gets... never any requotes, immediately tradeable prices totally irrespective of your size or directional bias, second by second interest paying, etc. euromoney, a leading site on the interbank market, had the following to say about the best independent non-bank fx platforms out there: Best independent non-bank fx platform: The independent, non-bank category, so called because qualifying platforms are independent companies with their own traders making markets, was difficult to judge. The retail market for these platforms is potentially so large that there is room for each platform to find a niche. That means that there is a platform for every kind of client. Currency Management Corporation (CMC) was, reportedly, the first company to conduct online fx trading for the retail market. Founded 12 years ago, CMC became internet-based in 1996, and now thinks of itself as an internet company only, and encourages its clients to trade electronically rather than over the phone. The early move to the internet has meant that CMC has become skilled in developing technological solutions for its clients. It also offers stock trading and spread betting under the auspices of deal4free spreadbet and deal4free share CFDs, which are part of the CMC Group. It has just two people working in its back office and its currency dealing platform is already on version 5. CMC can also write feeds to clients' back office systems, offering a degree of straight-through processing common on bank platforms but rare in the independent non-bank space. Says a bank trader who trades fx privately with CMC, and who has experience in his job of multibank fx platforms: "CMC is well in advance of the market." CMC's target audience includes fund mangers, institutions, small banks and professional traders. Large funds are not "great business", it admits, because deal flow is more important than big-ticket volume, given that it makes money on spreads only. CMC's systems are also used by a number of well-known banks. CMC is one of the few independent non-bank platforms to offer live, streaming quotes. The price feeds are manually inputted, but CMC is so confident that it posts S&P rates along side them as reassurance to clients. Like many competing platforms, it is looking for a dedicated feed, but to do this would mean taking a feed from a bank. The trouble is that CMC, and others, offer 24-hour pricing and dealing, which means quoting constantly tight spreads, even at illiquid times. "It's about reliability," says Peter Cruddas, managing director at CMC. "No bank can give us what we want at the moment. There's no such thing as customer loyalty so we need to provide the best service." "CMC is well in advance of the market." CMC quotes across 27 currency pairs and offers the same spreads, so it says, to all its clients. Its traders are paid a basic salary only, so they are not driven by P&L concerns to shade a price or try and read a client's position. CMC is confident that it cannot improve on the spreads it offers, which is where it makes its money. One user of the platform agrees: "I often wonder where the hell CMC get their money from," he says. "Their spreads are so narrow." Unlike many of its competitors, and ahead of some of the banks, CMC has recently developed an auto credit-checking engine. It will also be teaming up with Dow Jones to post news on its platform, and will be adding news headlines and charting to market view windows, so clients can see at a glance all they need to know about the market. Market view windows are configurable, and many can be opened at once, (alongside stocks and indices rates if required). One click on a rate opens a populated deal ticket. Open positions and reports are updated real time, and statements every seven minutes. This year, CMC is closely followed by IFX. The two platforms are developing in similar directions, building matching-type pricing systems. IFX offers prices in 16 currency pairs, but accepts a variety of order types, and is to introduce live auto prices soon. Other impressive systems include Forex Capital Markets and Gain Capital, which cater to a smaller end of the market and have good reputations. Oanda, the online daughter company of the renowned Olsen Group that offers advanced fx analytics services, has also recently developed a trading platform, FXTrade, on which there is no minimum limit. By this time next year the landscape in non-bank independent platforms may have completely changed. With margins being squeezed in online fx, the banks may partner with the likes of such platforms as a means of tapping a retail client base, which would make good economic sense. Equally, with the proliferation of matching systems on the horizon, mergers may begin to occur that will eventually end in the establishment of an exchange-type EBS system. If enough retail volume builds, the next step may be to attract other, larger buy-side clients, and even perhaps the banks. In the past, attempts by large buy-side clients to take part in the interbank markets have been brushed aside. Independent trading sites may have a role to play in changing that."
I agree, your going to need some good charting from either CQG or FutureSource. Both of them start around $400 a month and up. I've looked everywhere and can't find comparable charting or data for Forex (I use Futuresource). If your looking for a broker I'd check into the few below, try the real time demo's before your put your money with any of them. http://www.gaincapital.com/ http://www.alaronfx.com/ http://www.fxcm.com/
I tried GFTFOREX and they have a good platform that you can try for free for 1 month and they give you very sexy graphs for free... I am surprised it was not included in the article quoted before. I tried CMC, it is old technology, bad graphs and so on... Have a look here: may be the interactivebrokers of FX: http://www.gftforex.com