I think FXCM's association with Refco put me off ever trading with them, they both played some blatantly dirty tricks. IB have some technical issues and their trading platform isn't that user-friendly for an FX trader but I can't remember reading the types of complaints FXCM gets from traders. If it was a toss up between IB and FXCM then IB would win hands down in my opinion.
currency trading is divided into brokers for rich doing 100 k trades, also called ECN brokers and broker for the poor trading micro lots 1 k or so Brokers serving the poor run on different rules AKA no rules
I use MB Trading for over a yr now to trade gbp/usd and eur/usd pairs.............very little slippage, ECN non dealing desk. They are rated one of the top forex brokers. Plus they offer meta4 if thats your platform of choice(I use their house platform for orders along with quotetracker for charts). You can trade micro lots with them too if you starting out with small initial balance of around $500. If they werent around, Id probably go with IB. Anyone using FXCM deserves a good smack on the head !!
most people on this board don't have a choice cause they can't afford 100 k trades so they fall into fishing net bucketshops prepare, simple as that
IMF, I started with $500 acct with MBT, trading microlots-10,000k !! I trade 1 micro-lot per every $750 in my acct.
if what you say is true that is not an ECN broker real ECN broker allows no less than 100 k trades for example IB, or DukasCopy
IMF... your obviously not well informed !! Read their intro on forex on their site you bafoon ! http://www.mbtrading.com/forex.aspx and check this link !! http://www.compareforexbrokers.com/Details/MB-Trading-Futures-Inc.html They are even recognized by Barrons as a TRUE ECN !!! Jesus! ... the amount of ignorance on this site!!.... I guess we all know who deserves the first smack on the head now!.....don't we ?
give me a day to find all out, I will even phone them and inquire if I am wrong, I will smack myself on the head, smack will be semi-hard if I am correct you will need to smack yourself
ok I have to admit they look and sound exactly like a true ECN should charging commission, instead of screwing with the spread -- allowing scalping etc but how can I verify this is what their person told me "Since there is no central marketplace for forex, there is no website/regulatory group similar to that of securities for you to verify. The only thing I can suggest is to perhaps try out our demo so you can experience the ECN technology yourself to see the differences between deal desk methodologies and our model."
consider this this is very iffy IB can open account anywhere why does MB trading have these problems particularly what is wrong with Canada