I had a few questions regarding trading FX ... 1) How does one trade on CME FX futures. Brokers like FXCM and Forex.com are spot fx brokers right ? 2) Whats the advantages and disadvantages of trading spot fx and cme futures. 3) What is the costing ? Thanks Priyank Nevatia
Currency futures you trade with a futures broker The ONLY spot broker is www.lmaxtrader.co.uk , all the rest are scammy market makers that like to play games with you Go with LMAX , better spreads than currency futures and smaller contracts http://www.lmaxtrader.co.uk/average-spreads
In general, last time i checked, spreads in forex are much wider than the corrosponding future instrument. Oanda was the best when i checked out and even that was not good enough. Things could have changed recently (i see that LMAX spreads are smaller than Oanda but maybe because they seem to be charging a separate commisions; so maybe not that much better). -gariki
Oanda's MT4 is just terrible...lost connections....bad fills...etc...at least their Demo is anyways... The issue with LMAX still remains...This Forum we love as Elite Trader has a majority of traders in the USA visiting here...That will change as time passes...but for now LMAX is not open to traders from the USA... ES
The cme webpage has a plethora of infomation on trading fx futures. http://www.cmegroup.com/trading/fx/index.html