Which brokers offer the following or more ??

Discussion in 'Forex Brokers' started by Humpy, Dec 12, 2012.

  1. Humpy


    1. Free data feed and platform
    2. MT4/5
    4. reasonable spreads
    5. good communication and help
    6.free charts
    7. regulated by a reputable authority

    I mean what else would a guy need ?
  2. Humpy: your profile says you're located in the UK, so you have access to Alpari, FXCM
    Oanda etc and UK brokers whose names I don't know
    you're also able to take advantage of 'spread betting' meaning no tax on your winnings
    which you would pay if trading fx or futures
    if an sp doesn't provide MT, just get one from an fx broker, unlimited if possible or just
    keep renewing. the TW2 forum has a lot of info about various sps

    All brokers provide MT4 program and data feed demo and real accounts for free
    fx pairs spreads vary throughout the trading session and from broker to broker, plus
    there's 'no desk' dealing, and 'slippage' which may or may not go against you
    Always phone a broker, reps aren't good about emails unless they're expecting one
    communication, service usually varies from time to time with all brokers and depends
    on who you are talking with at the time. dispute resolution is a different matter
    all brokers are regulated now since the US CFTC and NFA began regulating fx brokers
    but some 'off shore' brokers are to be avoided

    the UK still allows high leverage, 500:1 ? in the US max is 50:1 Canada 33:1 which in
    part is why I trade futures. there's no such thing as spread betting in North America and
    fx leverage is limited but not futures. futures have 2 margins, the overnight rate and the
    daytrading rate: o/n: $3,300 day: $500 for the $125,000 6E Euro FX futures contract
    fx equivalent: via Oanda $125,000 at 50:1 leverage: $3,266 but no daytrade margin
    there's also the M6E micro $12,500 contract o/n: $330 day: $100
    fx: 326.6 again, no lower daytrading margin
    futures contracts are of course traded on an exchange, so there's no 'dealing' problems
    associated with fx brokers. commission is not spread based but fixed and for the 6E
    it's $4.87 roundturn vs a variable amount for fx, at a 1 pip spread it would be $12.50

    I use NinjaTrader for trading futures - 6E Euro FX contract but use MT for all analysis
    I wouldn't use NT to trade fx but that's just my preference, actually I'd use Oanda for an
    fx account and their FXTrade platform for order entry rather than their MT because the
    FXT platform is virtually an instant fill no delay program but crap for analysis etc

    what else would you need ? a lot of money and a very good trading system ;
  3. Humpy


    Thanks Wallace - good info
  4. bpcnabe


    Isn't having NT and MT4/5 a little redundant for a broker to offer?
  5. Humpy


    I got an email from a broker claiming to cover all my points above
  6. congratulations Humpy

    more than you want to know . . .

    MetaQuotes Software of Moscow implemented a brilliant idea designing MetaTrader
    they not only designed the charting/order entry program but the broker accounting
    package also, sold it to the brokers, provided a feed, and clients got it all for free which
    boosted the retail fx business
    unfortunately imo MQ didn't go the extra step and do the same for futures trading which
    at the time didn't have Globex. even in MT 5 charts only go down to 1 min and bar types
    hasn't been expanded

    a futures broker won't provide MT because of the broker package, they've already got
    one. FXCM and Oanada both had proprietary systems but client demand eventually
    had them - and others ? giving in to demand. MT has better tools than NT as well as
    being able to be operated more efficiently, has thousands of indicators plus EAs, and
    is The Most stable of programs, certainly when compared to NT. since there's now a
    broker base of 4-500 , MT possibly has the largest user base, plus there's the many
    fx/mt forums and contributing to why most fx traders are using MT

    NT has always been futures and stocks, but increasingly NT users were asking for fx
    and wanted to use NT to trade with, so NT now has links with FXCM and GAIN for fx
    data. I trade futures via http://www.ampfutures.com/ using the CQG data feed version
    of NT which receives a small commission from every trade. I've used Alpari's usually
    unlimited demos since the MetaQuotes program - 10 years ago and currently use the
    http://www.alpari-us.com/ MT 4 demo, Alpari are also in the UK. some fx brokers who
    provide MT also offer cfds, stocks and some futures but only in some countries -
    http://www.fxpro.com/home located in Cyprus is one

    is it redundant for a futures broker to offer MT, , , from a cost pov yes, because as said
    a trader can now get fx data for NT so futures brokers have no need to buy MT, and if
    you want like me to use MT for analysis if not trading, you get a demo
    last thing, because retail fx trading is Big business, Globex now provides the 6E and
    several fx micro pairs futures contracts so some 'fx' trading can be done via futures and
    NT and at lower costs
  7. ninjatrader is not offered for free, the brokers may tell you that they do, but ninjatrader forbids sub leasing of their software by brokers.

    they will let you use free ninjatrader for DEMO ACCT USE ONLY
  8. your statement is completely incorrect

    there's 3 versions of NT: http://www.ninjatrader.com/purchase 2 are pay, 1 free
    whether or not NT charges a broker who provides NT to its clients to trade from
    I DO NOT PAY to use NT and nothing is collected from the commission I pay

    Total Commission & Fees $3.92 roundturn ES mini S&P
    Exchange $2.28
    NFA $0.04
    Clearing $1.00
    CQG Trf $0.20
    AMP Commission $0.40

    AMP announced the 'special' of being able to open a trading account with $500
    using NT with the CQG feed only

    "NinjaTrader Direct - FREE
    Fully licensed Depth of Market Trading Window, Real-Time Charts & more.
    NinjaTrader Standard- $50/month
    Brackets, Trailing Stops, OCO's plus many other Advanced Order Strategies."

    see all 'Platform and Data Fees': http://www.ampfutures.com/platformfees.html
    "NinjaTrader - Direct Edition - Free"
  9. geez...and that isn't high enough?

    the UK still allows high leverage, 500:1 ? in the US max is 50:1 Canada 33:1 which in
    part is why I trade futures.
  10. Hmm by the way is "Clearing" above a legitimate fee commonly charged by brokers?

    I think it may be hiding a $1.00 fee that actually gets pocketed by the broker in this case (who may use it for perfectly legitimate purposes, however, such as paying software platform costs).

    Look at e.g. http://www.deepdiscounttrading.com/ which does not have that in their fees. Their Clear+Exchange" is $1.14 per side total.
    #10     Dec 19, 2012