[FredPro]

Hi, nice to meet you all.

Have been demo trading for about 12 months now and have decided to go live. I chose dukascopy originally but wasn't willing to pay £185.00 an hour for a public notary on a small account. So have opened an ECN account with MBTrading. I haven't made a trade yet as can't decide whether to use MT4 or MTB's proprietary system, desktop pro, any advice here gladly taken.

I thought ECN Brokers worked on commission but they also have a spread too. So am I right in believing they charge both a commission and a spread.

Look forward to reading your messages folks to see where you went wrong and where you went right, hopefully, with your advice I can get to the latter stage without losing to much on the way.

[pa18]

185 quid for a public notary??? Where are you getting this quote from?

I think I went to local Government district office here in my home country and paid a tenner or something like that for it.

Stay away from trading on the mt4 charts (mbt or other). I've experienced and heard a lot of negatives.

[FredPro]

Hi Pa18,

the £185.00 quoted by two different local solicitors.

Have been demo trading on MTB ECN MT4 and there seems to be little to no difference from alpari's MM MT4 version, maybe it's me but I did expect a new experience. I was considering using MT4 to analyse and use desktop pro to place trades.

Anyway, thanks for the info mate it has been noted.

[SIUYA]

Originally Posted by FredPro »

I haven't made a trade yet as can't decide whether to use MT4 or MTB's proprietary system, desktop pro, any advice here gladly taken..

try both....every system and user has different preferences and likes and dislikes.....needs and wants. Only you can try before you buy

Originally Posted by FredPro »

I thought ECN Brokers worked on commission but they also have a spread too. So am I right in believing they charge both a commission and a spread.
.

dont hold me to this as it is a generalisation and you should check various brokers.....

most ECNs dont have a spread as such. They deal directly into the interbank market....and so any spread is just the normal market spread, without the additional spread of the broker....hence they might charge commission and have minimums.
You need to check out each broker and see how they do it, why they do it, (remember they need to make money too) and understand exactly what they offer.
Have you seen the firms that offer zero spread, and zero commission....ask yourself. How do they stay in business?
If you have enough money stick to a ECN, pay the commission if its small (eg; $2 per million). It might save you more in the end.

[FredPro]

Thanks Siuya, did as you said, spent the day trying their desktop platform, so have decided to use the this for trades and MT4 for analysis.

[FredPro]

Hi Pa18, found out that there are two types of notaries in the UK. The public notary, who charges £185.00 an hour and a Commissioner for Oaths who charges are set by law at a full £5 for the whole thing.

Solicitors eh, it's a wonder they don't have a bad name.

[JohnTaylorHK]

Originally Posted by FredPro »

Hi, nice to meet you all.

Have been demo trading for about 12 months now and have decided to go live. I chose dukascopy originally but wasn't willing to pay £185.00 an hour for a public notary on a small account. So have opened an ECN account with MBTrading. I haven't made a trade yet as can't decide whether to use MT4 or MTB's proprietary system, desktop pro, any advice here gladly taken.

I thought ECN Brokers worked on commission but they also have a spread too. So am I right in believing they charge both a commission and a spread.

Look forward to reading your messages folks to see where you went wrong and where you went right, hopefully, with your advice I can get to the latter stage without losing to much on the way.

Was this a charge for verifying some documentation?

[pa18]

Originally Posted by FredPro »

Hi Pa18, found out that there are two types of notaries in the UK. The public notary, who charges £185.00 an hour and a Commissioner for Oaths who charges are set by law at a full £5 for the whole thing.

Solicitors eh, it's a wonder they don't have a bad name.

Hi FP, yes, that's the one, I did mine at the Commissioner of Oaths. I glad you found a cheaper solution

John, the charge is for officially verifying you are who you say you are from a VIP