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Found 8 results

  1. Yadix is an ECN/STP broker offering superior order execution ideal for forex scalpers and EA systems including scalping robots. Our trading conditions include no trading restrictions on Stop Loss, Take Profit or pending orders and no re-quotes. Yadix specialises in accepting profitable traders, aggressive trading strategies, scalping systems and all other strategies. About Yadix Below are listed some of the most important aspects of our trading conditions and scalping policies for your review: Trading Conditions for Scalpers, EAs and Manual Traders: • True ECN/STP Broker – No forex strategy restrictions • Low Spreads –Starting from 0.3 pips EURUSD (live feed available on site) • Deep Liquidity – Direct access to multi-bank liquidity • No Conflict of Interest – Anonymous trading protects trading strategies • No Trading Restrictions – Pending orders, SL, TP with no stop levels • Valuable Rewards for all Traders – Visit site for more information
  2. IV Brokers is a leading Forex Broker that offers a professional ECN/STP trading experience. Traders benefit from anonymous order execution, no conflicts of interest and superior trading conditions.
  3. I have been with Yadix for more than a year, I joined them because I found their conditions to be leading at the time. It was the first broker that presented clearly that they were full STP broker. I have had some good trading results with Yadix, a roughly estimating the difference with a conventional broker with market distance restrictions, re-quotes and higher spread, trading would have been at best break even. But with these conditions at Yadix, I have generated more than 5k profit from 1k deposit. This is the value of trading with the best conditions you cn find for your strategy. The execution has been fast, conditions stable and the service levels are excellent. Taking your profit is simple and quick. I have never had a delay.
  4. When a forex broker offers this type of arrangement to traders, they are completing their transactions using liquidity providers. Because these transactions are more direct, there is generally a smaller spread costs for these trades.
  5. Forex Charting Software can vary widely and can be tailored to either new or experienced traders. The best programs offer a wide selection of indicators for analysis and is generally a requirement for technical traders more than it is for news traders.
  6. Forex Direct Markets - Ultra Low Spreads
  7. Broker Support Live Chat Support. Since the forex marketplace is open nearly 24 hours a day, seven days a week, a broker’s customer service should be available during the hours that the trader might need help; i.e., when the trader is awake. The ease with which one can access live chat support or speak with a live person, rather than a time consuming and often frustrating auto attendant is an important consideration. A quick “test” chat or call can provide an idea of the type of customer service a broker provides, wait times, and the representative's ability to concisely answer questions regarding spreads, leverage, regulation, and company details, including how long they have been in business, and the size of their trade volume (larger brokers generally have access to better prices and execution). Most reputable brokers do offer round-the-clock support due to the nature of the forex markets. Languages. Many brokers’ websites specify the languages spoken by their customer support crew, or list separate telephone and/or email contacts by country. If the website does not provide this information, a call can be placed to clarify and determine if a trader will be able to comfortably and effectively communicate with the broker. In general, it makes sense to only do business with a company that can provide clear and helpful assistance in a language in which the trader is fluent. Funding Methods. Most forex brokers allow clients to make deposits using a credit card, such as a VISA or MasterCard, a bank wire transfer, or an electronic payment, such as PayPal. These methods are generally quick and allow traders to start using an account within a short period of time. Checks, either from an account in the individual’s or corporation’s account name, are often accepted as well; however, there will typically be a delay as the broker waits for the check to clear. Withdrawal of funds from a trading account can be made in several ways, depending on the broker. Ideally, the system in place should allow for hassle-free withdrawals, and the process should be clearly stated on the broker’s website or in its promotional material. Brokers may offer withdrawals via direct deposit to the bank account on record, by check, credit card, or wire transfer. If a withdrawal is made to a credit card, it will typically be processed only to a card that was used to fund the trading account, and cannot exceed the amount of the deposit. The broker’s website should state how long withdrawals take, and if any fees will be incurred. It pays to read the fine print: a broker’s website may state that they do not charge a fee for depositing or withdrawing funds, when in fact they may relay the costs of bank fees onto the client. For example, if the broker pays a bank fee of $20 for a wire transfer, the cost will be passed on to the client. Commissions & Fees Clients should be able to find detailed and up-to-date information regarding a broker’s commission and fee schedule. Brokers make money through commissions and spreads – the difference between the bid and ask price of the forex pair. Many brokers advertise that they charge no commissions, but instead make their money with wider spreads. The spread could be a fixed spread of, for example, three pips (the minimum unit of price change in forex), or it could be variable depending on market volatility. The wider the spread, the more difficult it can be to make a profit. Popular trading pairs, such as the EUR/USD and GBP/USD typically have tighter spreads than more thinly traded pairs. (There are three types of commissions used in this market. Any fees associated with deposits, withdrawals or other account actions, such as receiving a paper statement by mail or having an inactive account, should also be clearly stated. Advanced Features Introducing Brokers. An Introducing Broker (IB) is an individual or organization that solicits and/or accepts orders to buy or sell futures contracts, forex, or commodity options, but that does not accept money or other assets from customers to support the orders. The Introducing Broker has a direct relationship with its clients, but partners with a merchant that handles the trading floor and trade execution operations. In the U.S. most brokers will not partner with an Introducing Broker unless it is registered as an IB with the CFTC and NFA. IBs provide specialized customer support and usually earn commissions on each of their clients’ trades. To stimulate business, IBs are often provided with perks that can be passed on to clients, including access to value added services, such as advanced charting software, and volume-based trade rebates. Some IBs, particularly those with a very large client base, offer their clients a rebate on every trade. Since many forex traders make many round-trip trades each month, the rebate savings can be substantial. CFDs, Oil & Metals. Not all forex brokers allow clients to trade the CFD, oil and metals markets. A CFD is a “contract for difference” where differences in settlement are made though cash payments instead of the delivery of physical goods. If a trader wishes to participate in these markets in addition to forex, he or she should confirm that the broker offers access to all of the markets. At times, the trader may need only open a different account with the same broker to provide the ability to trade in all of the markets. Due to the close relationship between oil, metal and currency prices, and because many currency traders actively follow the price of oil and commodities, many forex brokers have chosen to add these markets to their product offerings. Hedging. Traders can use hedging as a means of reducing risk. A forex hedge exists when a currency trader enters a trade with the intention of protecting an existing or anticipated position against an unwanted move in exchange rates. A trader who has bought a currency pair (entered a long position) can use a hedge to protect against downside risk, and vice versa. Direct hedging occurs when opposing trades are entered simultaneously; for example, a trade to buy a currency pair entered at the same time as a trade to sell the same currency pair. The net profit is zero while both trades are open, but the idea is that one of the trades eventually will make money and the other position can be closed. Brokers will state if they allow direct hedging. (For related reading, see Forum discussions about Hedging.) Scalping. A scalp is a very short-term trade that can be applied to the forex markets. These trades can last from a few seconds to a few minutes, and are intended to take small pieces out of the market on a frequent basis. Scalpers often trade using very small chart intervals. A challenge with scalping is that, since a typical winning trade is small, depending on the size, one or two losses can wipe out dozens of small wins. But with the right trading system, scalping can be a profitable means of participating in the forex market, especially for traders who like fast-paced action. A scalper should only trade the most liquid markets during times of high volume, using a broker that provides fast and reliable quotes, as well as an easy-to-use trade entry platform. (For related reading, see Forum discussions about Scalping.) Dealing Desk. In the foreign currency markets, a dealing desk is the location of a financial institution’s forex dealers. A dealing desk may, in reality, be a large facility staffed by dozens of traders who specialize in specific currencies and who offer support and assistance to traders. The dealing desk executes trades on behalf of the firm’s clients. A drawback to dealing desks is the chance that a trader will receive a re-quote – the rejecting of a client’s original order that is followed by a new, worse price that the client can either accept or reject. In fast markets, re-quotes could happen multiple times, resulting in losses. A more direct method of accessing the forex markets may be the no dealing desk broker (NDD). This is a preferred method for many professionals and one that allows traders to access the interbank market directly without the need to go through a dealing desk. NDDs work with market liquidity providers, such as global banks, financial institutions, and other market makers, to get the most competitive bid and ask prices. A computer typically selects the optimum buy and sell prices from amongst the NDD’s liquidity providers, and the prices are shown to clients via the trading platforms. NDDs provide an automated process that is generally considered to be fast, transparent and fair. Whether a trader uses a dealing desk or no dealing desk is a matter of preference, but either way, the method by which a broker handles trades should be investigated and understood. Conclusion If a trader has confidence in a forex broker, he or she will be able to devote more time and attention to analysis and developing forex strategies. A bit of research before committing to a broker goes a long way, and can increase a trader's odds of being successful and profitable in the competitive forex arena.
  8. As of January 2012, foreign exchange market accounts for more than $4 trillion in average traded daily value, making it the largest financial market in the world. No central marketplace exists for the forex market; rather, traders must conduct their trading activities through forex brokers. An increasing number of forex brokers are available, and traders should take the time to research, evaluate and compare options to find the broker that best fits their needs. This guide will explore the various important considerations when choosing a broker in today’s competitive forex marketplace. (In this article we’ll look at five considerations when choosing a forex broker. Broker Basics Regulation. A reputable forex broker should have rules, programs or services to protect the integrity of the market. They should protect the public from fraud, manipulation and abusive practices related to the sale of futures and options and to encourage open, competitive and stable futures and options markets. In the U.S. brokers would be registered with the U.S. Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant and Retail Foreign Exchange Dealer, and will be a member of the National Futures Association (NFA.) A professionally looking website does not imply or guarantee that a broker is reputable; reputable brokers will state these affiliations on their websites, typically in the “About Us” section and on each web page. Each country outside of the U.S. has its own regulatory body which traders can research. Location. In the Internet age, there may not be any reason to visit a brick and mortar office, but the location of a forex broker remains a consideration primarily because of regulation and potential educational opportunities. A broker that is located in a country that provides little regulation may be a riskier place to open an account than one located where regulatory compliance and enforcement have a strong presence. A trader who deals with a broker that is regulated has some recourse in the event that there is a problem with the broker: the trader can contact the appropriate authorities to file a complaint and seek a resolution. In addition, the location of some brokers (such as those with regional or local offices) may allow traders to attend in-person training seminars or workshops that can assist with learning trading concepts. Year Founded. When a broker became established may help confirm the professionalism and durability of the broker. There have been instances where fly-by-night brokers have either acted in a fraudulent manner or simply had poor business practices, and ended up closing shop after a short stint. While all brokers have to start out as new companies, those who have been around for a few years or longer gain credibility since a fraudulent or badly managed firm is unlikely to remain in business. For U.S. Clients, they should accept U.S. Clients. In response to increased regulation brought on by the Dodd-Frank Act, many International Forex brokers have stopped offering services to U.S. clients. Foreign affiliates of U.S. based brokers can service U.S. retail customers only if they are registered with the CFTC and comply with the new CFTC leverage rules. Currently, the maximum leverage for U.S. retail clients is 50:1 for major currencies, and 20:1 for minors. Restricted leverage ratios are intended to protect both firms and clients from unnecessarily large losses resulting from over-leveraged positions. Due to concerns over possible legal issues, many brokers have opted to simply drop out of the U.S. retail market. Platforms & Account Details Trading Platform. The trading platform is the trader's portal to the markets. With this in mind, traders should ensure that the platform and any software is easy to use, visually pleasing, and has a variety of technical and/or fundamental analysis tools. Perhaps most importantly, trades should be able to be entered and exited with ease: a well-designed trading platform will have clear buy and sell buttons, and some may even have a "panic" button that immediately closes all open positions. Figure 1 shows an example of an order entry window that has clear, easy-to-use order entry buttons. A poorly designed interface, on the other hand, could lead to costly order entry mistakes, such as accidentally adding to a position rather than closing it, or going short when a long trade was intended. Other considerations include customization options, order entry types, automated trading options, strategy builders, backtesting and trading alerts. (Learn how to set each type of stop and limit when trading currencies. Typical EUR/USD Spread on Standard. Brokers typically make their money on the spread; that is, the difference between the bid and the ask price. A EUR/USD quote of 1.3943 - 1.3946 has a 3 pip spread. That means that as soon as a market participant buys at 1.3946, the position has already lost 3 pips of value since it could only be sold for 1.3943. Typically, the majors, which include the US Dollar/Japanese Yen (USD/JPY), the Euro/US Dollar (EUR/USD), the US Dollar/Swiss franc (USD/CHF), and the British Pound/US Dollar (GBP/USD), trade with greater liquidity and tighter spreads, but the various brokers can determine the spread for each currency pair. A typical spread for the EUR/USD currency pair traded on a standard account might range from 1-2 pips. Many brokers, however, reward their standard account clients with tighter spreads, and some offer premium accounts with even more favorable spreads. Typical EUR/USD on Micro. Since micro accounts are the smallest accounts, brokers may utilize a wider spread to try to make money. While the spread varies from broker to broker, forex traders could expect to see spreads of 2-3 pips, though some brokers do offer the same spreads on both standard and micro accounts. In addition, some brokers state in their fine print that during times of increased market volatility, such as during the release of important economic or political news, the spread on micro accounts for certain pairs can be raised. Number of Pairs Offered. While there are numerous currencies available for trading, only a few get the majority of attention, and therefore, trade with the greatest degree of liquidity. The majors (USD/JPY, EUR/USD, USD/CHF, and GBP/USD) tend to trade in more predictable movements and ranges; however, many more currency pairs are traded. A broker may offer a huge selection of forex pairs, but what is most important is that they offer the pair(s) in which the trader is interested. Demo Account. Most brokers offer free demo accounts so traders can test drive the trading platform prior to opening and funding an account. This is important for several reasons. First, it gives traders the opportunity to use the platform to determine if it is intuitive, robust and user-friendly, or complicated. Secondly, using a demo account allows traders to practice making trades before money is on the line. This is particularly important in regards to entering and exiting trades, as well as placing profit target and protective stop loss orders. Order entry mistakes – pilot error – can be extremely costly, and the best way to avoid these types of losses is to practice with a demo account, with no money on the line. Lastly, a demo account affords the trader the opportunity to learn the subtle tricks of a platform, which can increase efficiency in real trading. Knowing that a simple right-click of the mouse can close all open positions instead of having to go into a menu and sub-menu can save time and money. Maximum Leverage. Forex traders have access to a variety of leverage depending on the broker and the country where the broker is located. Leverage is represented as a ratio; for example, leverage could be 50:1 or 200:1. Leverage is a loan extended to margin account holders by their brokers. Using 50:1 leverage, for example, a trader with an account size of $1000 can hold a position that is valued at $50,000. Leverage works in a trader's favor with winning positions since the potential for profits is greatly enhanced. Leverage can, however, quickly destroy a trader's account since the potential for losses is magnified as well. Because leverage can cause catastrophic losses, it should always be used judiciously. Minimum Standard Account Deposit. Standard accounts are appropriate for experienced and/or professional traders, and trade with a standard lot, or contract, size of 100,000 units. A one-pip change in a currency pair is equal to $10 for EUR/USD. While many brokers require a minimum deposit of $10,000, others do offer lower deposits of $3,000 or even $1,000. With leverage, of course, the buying power is much greater than the minimum deposit, which is one reason forex trading is so attractive to traders and investors. Minimum Micro Account Deposit. A micro account allows forex participants to trade in much smaller increments than a standard account. A micro lot is equal to 1,000 units of the base currency, compared with a standard lot’s 100,000 units. A one-pip change in a currency pair traded in a micro account equates to a $0.10 change for EUR/USD. Mini-accounts are also available that have a size of 10,000 units of the base currency, and where a one-pip fluctuation is equivalent to $1 for EUR/USD. Designed for new traders, micro accounts are appropriate for traders who want to trade with less of an investment, or who are ready to put real money on the line – just not a lot of it. As traders gain confidence, more lots can be added to increase exposure. Many brokers allow traders to open micro accounts with as little as $5. It should be noted that some brokers offer micro accounts as “self-service” accounts, and no telephone or chat support is provided. All support is conducted through e-mail, FAQs and an online trading community. Mobile Trading. Mobile forex trading is increasingly important to traders on the go, and provides a convenient means of staying on top of the markets. Many of the larger and reputable brokers offer the ability to access charts and trade entry windows via applications designed for the iPhone/iPad or Android operating systems. Typically, these applications are included free of charge with a funded trading account. NEXT: [THREAD=11755]How To Choose a Forex Broker - Part 2[/THREAD]
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