i have 2 questions 1) i am trying mt5 with ic market as broker i found that even at US market open, the spread should be tight but as you can see from the screen, it has 8 pips of spread between best bid and best ask. but at the same time when i look at IB, there is only 0 to 1 pip spread. any one know why? and any better broker than ic market? 2) do you guys know are the trades inhttps://www.myfxbook.com/most-popular-forex-systemsreal? i found some crazy guys (carefully make the filter) who can earn 300%-400% each year and consistent in the past 3,4 years i thought they do HFT but after reading carefully their trades, they hold several hrs to several days...do you guys have any ideas on what trading method they use?
1. IC is one of the best FX brokers for Spot FX trading. Your spread does include the commission cost. You should choose Raw account with zero spreads (not almost zero but close). Then you choose a rebate firm where you can get ca. 40% commission reduction (see rebatefxking or similar). 2. Do not trust those results at all. You do not know how they created this curved. I would be very cautious as most do scam here. Do not invest in any of those PAMMs and do not buy any EAs from the market. My two cents.
Yeah IC markets is not too bad. They are legit and their spread is tight but it depends on the type of account that you get with them. I answered this question in your first thread about forex: https://www.elitetrader.com/et/thre...stions-about-forex.382009/page-2#post-6056755
here is the spread from ic market i just checked rebatefxking. it mentioned that register my broker account in their website to enable the rebate. if i understand correctly, the rebate will be given to me separately instead of crediting to my broker account? and do you know any minimum lots required? what if i just buy a micro 0.01 lot? also 38% rebate? for myfxbook, thanks for your remind. i have the same thoughts as you. but after thinking it over, it is very easy to know if they are scam because people can just spend usd1000, to follow their trades, if it is not the same as the trade records they show, it is scam. and the information are very detailed like listing every single trade and all statistics of account movement. so it should be real? those trading talents.
Don't trade spot forex / currency CFDs. Trade currency futures. You get a good bid offer spread. You might be the only one reading myfxbook. Good luck!
1. You know that the spread on your screenshot is 0,8 pip not 8 pip right ? 2. Doing hft or scalping on FX with forex/cfd broker is like trying to do open heart surgery being on rollercoaster. Positive results of both are highly unlikely... 3. If you want to scalp FX markets you use futures for or some DMA 4. It doesn't matter anyway as you chose the most efficient market of all 5. Don't believe in all those things you see in internet about trading (99,99% of it is mirage and lies), you want make money fast (and risk a lot) - you go to not efficient markets, or try do normal business outside markets (if you are in underdeveloped country you can make a lot of easy business just because of that fact, if you are from developed country save yourself troubles and go to normal job) 6. If you want to put your money at work the normal way just do some indexing, vol shorting, pair trading or do lower-risk seeking for inefficiencies in new markets Those advices are not to be mean - it's to save you years of wasted time and digging in some rabbit holes or listening to some charlatans who just want to make money from you under the name of "helping"
i changed it to raw account so now the spread is tight. but if you look at the screenshot, you will see there are weird 1 and 15 lots occur in both bid and ask side. but at this time IB has much liquidity like 30,40 lots (at first level). i heard that ic market is the largest but do you know why there is such behavior? other brokers also like this?
spot forex should be the true market. at least i see IB is much liquid with tight spread. but ic market is weird lots there. do you know why?
Don't trust those spot forex / currency CFD Exchanges and brokers. Trade currency futures from say CME Exchange.
1) The wider spread on IC Markets could be due to liquidity issues or market conditions at the time, even during US market hours. Consider other brokers like OANDA or FXCM for tighter spreads. 2) The traders on Myfxbook may be using swing or position trading strategies, focusing on high-risk/reward setups rather than HFT.