[sevensa]

Originally Posted by speres »

I'll repeat. Apparently MT provide virtual dealer plug ins for their platform that regulates execution by up to 5 seconds. Are you connected with MT?

I have no affiliation at all with MT and is not using it. MT is a tool. This is your broker that made use of the feature. Just because the one broker you have tested it with made use of the tool in a specific way, does not mean it is not a bad tool and that all brokers will do that. This is a big difference and the part you seems to have missed when you said the below and made it look like you thought that MT and your broker was one and the same thing.

Originally Posted by speres

I'll give you my opinion of mt4 when I tried them out, which a lot of people seem to swear by.... I was getting requoted constantly, where entry within a few pips is very important for me..., my fills where no where near price quoted.... I remember thinking what a rip off...

[randy1953]

Hi group I am a Forex trader and as you know the platform MT4 is almost universal now.
Almost all indicators and EAs that are used in Forex are coded with mq4 language and only work on MT4s. As far as brokers go there are good ones and bad ones. They are not regulated as the stock market is. However they are much more liquid. If your good you you will make a lot of money but it takes a lot of hard work.
Happy trading
Randy

[MidKnight]

Hiya,

I think in the FX land there are lots of shady brokers so it pays (literally) to put them under the microscope. I use an oanda account as a test bed for trading just because you can set the trade size to absolutely any size you want and experience it with real data. I've had no issues with them. I use interactive brokers IDEALPRO product for my serious FX trades and have had no issue with them either. From my experience, IB offers an honest ECN product for the FX world.

I hope this helps ya some. GL with the bookies,
MK

[el_capitano]

Heya

I think it is important to use a regulated broker, this will ensure that 1. It is not a scam and 2. Your money is safe and can be withdrawn with no problems. One good regulated broker I use is UWCFX. They are based in Cyprus, regulated by Cysec and have a very professional setup with various accounts and different types of spread to accommodate most peoples trading strategies.

Thanks

[BlowFish]

Originally Posted by randy1953 »

Hi group I am a Forex trader and as you know the platform MT4 is almost universal now.
Almost all indicators and EAs that are used in Forex are coded with mq4 language and only work on MT4s. As far as brokers go there are good ones and bad ones. They are not regulated as the stock market is. However they are much more liquid. If your good you you will make a lot of money but it takes a lot of hard work.
Happy trading
Randy

All true however those considering spot FX should be aware that if your broker is actually a bookie (most of them) you will not have access to that liquidity as the 'broker' will be the counter party, of course if their book becomes lopsided they might choose to hedge that risk in the actual market but as a customer you will not have access to it (the market).

[dinorumble]

I've been testing a few FX brokers now for a while against interactive brokers. I've found that the ones that use MT4 (at least for Interbank fx and fxdd) have big spreads (which they are upfront about) BUT I've found oanda (which does not use MT4 but has super crappy charting without any third party add-ons available) has spreads that are just as tight as interactive brokers but without the commission on EUR/USD(1pip spread) and USD/JPY(0.9pip spread) . For a few split seconds though; InteractiveBrokers spreads can get super tight ( EURUSD and USDJPY can get to 0.5pip spread)

I've chosen to use both oanda and IB for trading but like to have MT up for some long term charting and indicators

[maxima]

you want a broker without dealing desk. here is the list: ECN brokers list | ECN/STP Forex brokers

[BlowFish]

Handy list. Looks like a fair number have an institutional slant but things are clearly improving for retail guys.

Edit: The notes at the bottom of the list are handy for those that don't know the differences between types of 'broker'.