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Old 03-21-2008, 04:38 AM
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Re: Need the Fx Basics

Sledge, have you tried Interactive Brokers, MBTrading or EFX? I heard IB is not bad, even for forex. I trade through MBT and EFX belong to MBT. I have no complaints from MBT, occasionally their quotes lags during high volume periods but I have FXCM quotes on Ensign and can monitor the real time quotes, I put in my orders and they are accurate with the bid/ask at the moment. They have demo acct you can try out. Try EFX as they have charting tools on their platform.

Sledge I was like you when I got started and was frustrated also at the swindling and dealing that goes on behind the scenes and worst was they were getting away with it. But I tried out a few accounts with different brokers with small lots to test their claims.

All I'm saying is don't generalize that all are bad. True the worst offenders are the largest companies with the highest budget in marketing to capture the inexperienced. These are the same guys that smear the reputation of the forex industry. But there is some decent ones out there if you look for them and of course read reviews from others.

Let's just say I used to lose money from DD (dealing desk) and now it's just the opposite from trading with NDD. With DD, you need to swing trade if you are to make money. For shorter time frame, there is 0 chance of winning. But with NDD you can do both and do all right for yourself.

Good luck.

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