Hold off on opening a FOREX account?

Discussion in 'Forex Brokers' started by jtnet, Sep 2, 2006.

  1. jtnet


    I want to trade forex in the morns and at night with news.
    I am currently a scalper day trader doing equities.
    I was leaning towards efxgroup.com mainly or leveragefx.com since they offer free esgnal feed.

    But i always hear of hard to get fills during high volume or news or getting screwed by pip spreads, should i hold off and wait for the cme/reuters standard, or will it even benefit anything.

    or should i just go with one mentiond above?
  2. Player


    At most brokers it is very hard to get a trade in after a news release as the market is moving so quickly. I would not recommend trading during such news releases unless you have one specific direction in mind. With most practice accounts the trade is initiated instantly while with a live account you typically have a bit of a delay from when you place your trade and when the trade is executed. This delay gets quite immense during big market moving news releases.

    However, I've only dealt with a limited number of brokers so I have no idea what they are all like. I imagine if you could find a way to trade direct and skip over a dealing desk some of this problem would be solved.