I spent a month downloading demo(s) and searching for a broker. So far, narrowing down to these 2 ECN brokers. 1. TimesForex: (I found it on the elitetrader's Brokers page... but there is no vote for this firm). One thing interested me is they offer mini account (since I don't have big cash to open with Dukascopy) 2. ATCbroker: I have heard they offer currenex feed into MT4. I did request for a demo, but still no answer from them. So, do you have any good & bad experience with them? What is commission fee (let say for eur/usd 100,000 lot size)? Any problem with Hedging, Scalping and withdraw money? Would like hear from you. Thank you very much
I would check out whether they are regulated here in the US...personally never heard of them. If they are regualted, you will be able to view their net excess capital online. I would suggest you do that. Anyone with less than $30 million is not worht going with, it means they can't possibly have lareger clients and if they did, I would be scared because one large withdrawal could cause an insolvency issue...here is the page: http://www.cftc.gov/files/tm/fcm/tmfcmdata0702.pdf
I agree, make sure they are regulated...this industry is still pretty new and their are a ton of scamsters our there just waiting for fresh meat.
Thank you very much for your input. Unfortunately, both of them are not on the list. So, any other suggestion! THANK YOU
You can look at a few different ones: Oanda, FXCM, Gain Capital...but that is about where i would end it. MB trading is too small (check out their net excess capital), same with FX Solutions. FXDD is not regulated (I think), North Finance is based in Belize and is a total bucketshop...also I would not trust anyone who is based out of Switzerland (like Dukascopy). Their banking laws are strict but not for FX trading. I know FXCM is regulated in the UK as well and they offer segregated accounts now, which is very good. I've traded with them for a while now and am quite happy....I guess just look through the forums and see what people say...or call all of these brokers yourself...and see who you like the best.
Actually you have to look for Forex Capital Markets LLC, that's the correct one...FXCM is simply another subsidiary for futures trading I think