lol so which broker?

Discussion in 'Forex Brokers' started by gtizzle101, Feb 15, 2010.

  1. I been reading threads in this section for hours today. So who the hell do you use? Who do you go with? Everyone says every broker either sucks, lies, rips you off, trades against you, is an ecn but not really, they are a bucket shop, they are offshore and you play their "video game".

    I was looking into FX solution anyone have any opinion or experience with them? My buddy uses GFT and it seems to be fine.

    I guess the point of this post boils down to, if every broker spoken about in all the threads are terrible, who should I go with? who are the best? Maybe I should ask who would cheat me the least?

  2. I tried FX Solution's platform through GlobalFutures and didn't like it. I had an account with GFT Forex but they gave me my money back saying they no longer wanted Canadian clients after changes in regulations.

    I now have a micro lot account with FX Open. Although it's more difficult to fund the account (bank wire), you can trade 1/10 micro lot which means losing maybe 50 cents in a trade. This is great for testing ideas. I do have another account at FXClub which is easier to fund but the ClassicFX platform is really NOT at the same level at the Metatrader4 platform. So, I can always use the Metatrader 4 platform to time my trades. With FX Open, once you make enough money, you can transfer your money to an ECN account.

    I'm still testing ideas and still not profitable. However, I still have a lot of ideas which will take me months to test. I like the idea of testing ideas with real time prices and will at least small amounts of money. This is because I have a better feel for the methods I'm trying and also means I end up seeing things I never saw in the charts when I test the idea.
  3. ryank


    I've been with thinkorswim for years, check them out.
  4. I use them for charting, but as far as forex, there platform has a huge amount of latency I think, at least for me. I do use them to look at currencies time to time
  5. ryank


    I'm not really a scalper so I've never really noticed. I will have to look into that and get more info.
  6. siafx


    Demo trade several before you choose. Everyone seems to love Oanda, but I think they run your stops. I say that to make the point that a broker who is good for one may not be good for you.

    In the end, I use a broker that lets me set up email alerts, allows me to view charts on a blackberry, and allows be to protect positions with options. None of which can be done at many fine brokers.

    Good luck in your search!
  7. Thanks for all the info, I liked what FX solutions had to say. I was talking to one of their VPs at the trade show in NYC but of course he is going to pitch me the best song. Apparently 99% of all orders are electronic and what isn't is in times ofextreme volatility which I am ok with. But a fix 5 pip spread for the cable? I mean come on a major to have a 5 pip spread is excessive. If I take 10 standard lots then I am immediately out $500 to put on a trade, thats incredible trading cost.

    Btw does anyone know a way or has somehow write off forex trading cost?
  8. If you traded 10 standard lots you wouldn't be trading a market maker account but with an ECN account like Interactive Brokers or FXCM Active Trader etc.
    This site compares spread.

    By the way, are you sure you're ready to trade standard lots if you don't even know which broker to use? I have some experience in the markets and I'm still not profitable.
  9. Tresor


  10. sws2179


    You can also try some of the futures brokers that offer fx such as: Ampfutures, ECN Broker, Genesis, Mirus, and MB, etc. I think it's safer to trade with them since they are more regulated than a MM.
    #10     Feb 20, 2010