I've been trading FX with IB for about a year now. I'm very happy with their order execution, spreads, etc., but I just dislike their trading platform and the complexity of dealing with the company so much I'm thinking of switching. I've tried a demo account with FXCM, and had some serious problems. I'm not a scalper, so I don't mind a bit of slippage or spread widening. But what I saw at FXCM was disgraceful. Even using a 75 pip trailing stop on EUR/USD, I was getting stopped out at a loss of 20-30 pips when the price never got within 40 pips of the level where the stop should have been triggered. This happened over and over again. Clearly they allow spreads to momentarily expand to outrageous levels, triggering stops. Anyways, I'm going to start a demo account at GFT and was wondering what others thought about them. Like I said, I'm not a scalper. It seems like their spreads remain fairly fixed, and as far as I can tell they are not too far from the actual price. For someone who trades for longer day trades and even holds positions for a couple of days, is GFT worth using? Or do they have unscrupulous methods of separating me from my cash? Any other brokers that would be good for my style of trading? I don't mind bucket shops if they give me fair breaks, but if there is a good ECN with a simple platform, that would be best, I suppose.
To the best of my knowledge (and I use them) the only positive thing I can say about GFt is that they offer way more pairs than an average broker. Their platform seems crude and they are not very polished overall.
Have you tried using another another front end to work with TWS? Buttontrader and Ninjatrader are both highly recommended with IB and the savings in spreads and executions will more than pay for the cost of the programs.
Have been with them for years and they are one of the best. Their platform is definately not crude. I have also tried other brokers, but keep coming back to GFT
your wrong, thats like saying all mt-4 brokers are the same, dbfx use fxcm platform but they provide there own prices, not the same as fxcm, mabe some day you will understand that.
I use gft as well, the platform is pretty good and relaible. Never had I had an outrageous spike like the fxcm spikes I hear about or other firms. Its pretty smooth sailing, the spreads do not widen during any news time. I just wish they had better graphs, I use tradestation to graph. Overall GFT is pretty good, and good customer service if there is an outage and very fair of getting u out of a positions if needed.
Yeah it seems no one broker is perfect but gft seems pretty good so far, I use gain as well just to do my trades at tradestaion(ts uses gain for FX) So I can get the free charting! I think gain sucks