Help for the Canadian Guy!

Discussion in 'Forex Brokers' started by BIG T Trader, Dec 24, 2005.

  1. :D First post - doing my due diligence here.

    I am a successful Stock Trader who is looking to get into FOREX trading. My day job has recently prevented me from Trading during the day so I am looking to trade FOREX at night to complete my exodus from employment.

    So far based on my testing - it appears my 85% success rate in Stocks could just as easily be carried into FOREX.

    However, the Broker is everything. The best trading system will fail if execution and shady practices prevail.

    My trading strategy requires the ability to place stop losses as well as Contingent orders- One Cancels Other orders. Execution on these two types of orders is the most important thing to me. I am not concerned about PIP spread or commission based Brokers.

    Here is Canada I found 2 Brokers during my search - Refco Canada (not enthused about going with them) and Questrade (which actually uses Forex.com's platform - Gain Capital).

    2 QUESTIONS:
    - Can anyone list me all the Brokers who are not also the Market Makers of the orders you enter? I am trying to avoid my broker triggering my own stops.

    - Anyone who has/have had a Forex.com (Gain Capital) account - what has been your experience on execution, stop losses, max trade amount, etc?

    All feeback welcome!
     
  2. ids

    ids Interactive Brokers

  3. faure

    faure

    Do a search for Oanda.
     
  4. So Oanda and Interactive Brokers...are the only 2 that are not the Marketmaker on your trade?

    Any feedback/experience with Gain Capital (Forex.com). So far my demo experience has been good with them but I am smart enough to know the Demo does not always equal Real-time.
     
  5. Why not just ramp up what your doing with stocks? 85% win rate is phenomenal. Compounding your returns should accomplish every thing you could want moneywise.
     
  6. If you don't trade they charge you for using the platform, every month, I think it's over $12. If you withdraw most of your money due to an emergency and leave the account with say $50, in few months they take all your money and close your account. Only IB charges for use of platform, nobody else. Otherwise they are ok.
    If they corrected the above problem I would probably go back to IB, but for now I stay away.
    In Canada look for brokers registered with IDA
    www.questrade.ca
    www.friedbergdirect.com
     
  7. Oanda is great! Try out there demo...

    Merry Christmas!
     
  8. Easyrider - answer to your question: Why not just ramp up what your doing with stocks? 85% win rate is phenomenal. Compounding your returns should accomplish every thing you could want moneywise.


    You probably missed the first part of my first post. My day job has recently made my ability to trade 9:30 to 4 PM EST virtually impossible.

    I am not quite at the point of being able to trade for a living. So I am looking for something to trade at night 7 PM to 2 AM EST- currencies fit the bill.

    Just need the right broker (great execution and speed) and the ones with the best credibility.
     
  9. Oanda is a marketmaker
     
  10. ids

    ids Interactive Brokers

    McKenna,
    We will charge $10 a month if you not trade at all. What is a point to live $50 on the account and go away?
     
    #10     Dec 25, 2005