fxtrdr who posted the link must have something to gain from promoting the firm. It is the most unprofessional FX web site that I have ever seen. At first I thought it might be because it isn't North American based so I gave it some leeway. I then proceeded to open their demo account and download their 17 meg platform. I couldn't believe that it was 17 megs. Anyways, placed my first demo trade of 1 mini lot on USDJPY at 1:13am at a price of 108.92 with a stop of 108.70. Lowest point between the open order and now is 108.84. I wake up this morning to see that I got STOPPED OUT AT 108.65. Price is currently at 109.42. First off, it never even came close to 108.70. Second, I experienced 5 pips slippage with a fill at 108.65 for a stop that should never be triggered. Third, their trading platform is a crappier version of Refco's and FXCM's. Fourth, their language on their site and fxtrdr's post is trying to hype up the company. Bottom line: STAY AWAY FROM THIS BROKER!! THEIR PLATFORM IS PROBABLY SPYWARE SINCE IT'S 17MB BIG!
What does a website have to do with anything, the slickest websites I found are from brokers with the most complaints on the moneytec fx forum, and the ones with the least in net capital on the list. That java thing is for there demo ,the live you sign in from your explorer bar. I explored and chose them for many reasons. I am happy and I trade alot more than minis. I have no problem with live account plus my deposit is insured not the money invested because those funds are not insured due to you trading the account, and possibly taking a loss. At bankforextrading.com you have your own FDIC account from the get go, like I was used to in stocks with SIPC. Hope this helps , I believe this is correct.
I also loaded their demo and i can confirm its the worst i have seen and i have been trying out lots of them recently. The spreads were simply ridiculous. I deleted it about 10 minutes after i opened it because off all above reasons. It only confirms my opinion that you better have very good reasons not to trade the currency futures.
http://www.cmcforex.com/us/forex_home.jsp This guys are big in the UK and offer good spreads. Don't know what their US operation is like.
How is CMC's excution on stops? Is there any slippage in either stops or in limit entries? 3 pips is nice. I'm just wondering if they possibility get you now and then thru slippage.
I don't trade forex a lot but when I do I've never had a problem. I 've never heard of anyone else having slippage problems (on forex) with them. This is a UK board that discusses forex and brokers that you might want to look at... http://www.trade2win.co.uk/boards/forumdisplay.php?s=&forumid=54
CMC is a UK firm and unless you are in the UK they may not let you open an account. I had a spreadbetting account (a fifferent account to CMC forex) with CMC. This is their 'universal' account through which they allow you to trade different types of 'instruments' including forex. CMC have good spreads but the biggest thing to be aware of is that CMC are a *marketmaker* and a *broker*. In other words if you have a huge position they are likely to push it against you by manipulating the data. Put simply they are not obliged to give you the same market data as a retail broker or someone such as esignal. If you want to do trading go to a reputable broker that give you 'standard' data for the appropriate market. However if anyone decides to proceed with CMC get the points I raised clarified. As has been suggested if you want to read about CMC go to www.trade2win.co.uk which is the UK equivalent of elitetrader. Regards, Imran
CMC have an office in New York and are regulated by the NFA. Why would they open an office in NY and then only let people from the UK open an account. And we're not talking about spreadbetting, we're talking about Forex.