I want to get back into forex but im not sure about which broker to use. Ive used IB with Ninjatrader before. I really liked the charting of Ninja, but the slippage of IB was unacceptable. Ive tried paper trading with Oanda and IMO the charting is pretty much crap. Which broker do you guys use?
I personally have no problem with oanda charts but then agian I trade price action. I know some people use the combo with www.prorealtime.com charts, sophisticated yet not expensive charts. EUR/USD is the only thing I trade but liquidity is real good there, you gotta know when important figures come out though and know spreads will widen about 40 seconds before them and might stay that way for two minutes after them. I use www.forexfactory.com for that. I heard from a fellow trader liquidity in Yen is pretty good also ...
I know this is not the answer you are looking for, but you are much better of trading Fx futures for several reasons.
it it's eur/usd the market is much bigger with oanda and normally the spread is tighter and you don't have to pay commissions. So most of the time you are better of there. If however you are a news player I agree ...
Trade CME Currency Futures 6X Full Contracts. 6A, 6B, 6C, 6E, 6J, 6M and 6S all have daily volume > 10K Find another futures broker supporting Ninja... ie. Give Velocity Futures a try.
I use both IB and Oanda. For fast scalping I would recommend IB with QuoteTracker and BookTrader. If you use limit orders, you never have slippage, ever. That said Oanda is better (cheaper) if you want to trade less than 100K lots. Otherwise you can try some retail currenex brokers, but their liquidity generally is not that huge as IB's