Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

sachpazidisboris

Forex Broker

Recommended Posts

yeah there is a different between a popular platform and a good platform, mt4 is the most popular one even hotforex uses is, may ease of acquiring or simple because of all the possibilities that it has from add ons etc.

 

The sole reason for its popularity is that it's free and dumbed down. The vast majority of people who get into trading forex have very small accounts (this is why they do not open up futures or stock accounts). They are attracted to the "no deposit required" and "0.01 lot minimum trading size" brokers. These same people do not want to spend even a penny on a quality trading platform, so they will take whatever rudimentary software is available for free, like MT4. It's fine if they want to use it - that's their decision. It's just extremely annoying when they start comparing it to Sierra Chart, Tradestation, Multi Charts, Ninjatrader, etc.

Share this post


Link to post
Share on other sites

Currently testing ig's L2 dealer and pro realtime charting, execution isnt the quickest so far and I'm a bit worried about slippage in a fast moving market which isnt a worry on higher tfs but I also have 1m strategies..Charting seems quite laggy too and theres no tick volume, not cutting the mustard so far... could probably trade of the deal tickets and use other charting but I like to trade off charts

Share this post


Link to post
Share on other sites
Try Hotforex. I trade them for years no issues so far. Though Fx is my hobby an I'm dealing with 4 digit numbers on my balance only, no signs of Dealing desk or withdrawal delays. I really like them.:)

 

hotforex seem to have taken off and are up there now since the snb mess, good move

Share this post


Link to post
Share on other sites

I don't trade forex, but I think the same principle applies for all types of brokers: go with one of the big firms.

 

Your biggest risk with a broker isn't them nickel and diming your order flow, charging you a few cents more commission than the other guy, or taking longer to answer the phone when you call support . . . It's whether the broker is financial stable and well regulated as a company.

 

The last time a load of brokers went bust was with the CHF thing earlier this year. Smaller firms got cleaned out overnight. A few of the big firms were caught up in it and lost way more, but it didn't matter to them because they were so well capitalized.

Share this post


Link to post
Share on other sites

that black swan was one heck of an event and it was not just smaller firms and brokers, big names like alpari got sweapt like crazy, it affected a lot of people, im not so sure if ironfx troubles right now is related, but even fxcm i think had to make a 300m loan to maintain. though luckly brokers like hotforex was able to coup up.

Share this post


Link to post
Share on other sites
that black swan was one heck of an event and it was not just smaller firms and brokers, big names like alpari got sweapt like crazy, it affected a lot of people, im not so sure if ironfx troubles right now is related, but even fxcm i think had to make a 300m loan to maintain. though luckly brokers like hotforex was able to coup up.

 

yeah i heard many reputable brokers out there suffering big loesses

 

and some of them closed their business

it is a big move of Forex Currency pair that i always remember.

price moving so fast, brokers have problem managing their leveraged risk in their liquidty

and some of them even charge and pursue it is customer to pay negative balance

i am in luck, my broker Tickmill survive that storm, and even pay any profit generated from CHF crazy moves

i think Tickmill is smartly managing their risk in their liquidity

Share this post


Link to post
Share on other sites
that black swan was one heck of an event and it was not just smaller firms and brokers, big names like alpari got sweapt like crazy, it affected a lot of people, im not so sure if ironfx troubles right now is related, but even fxcm i think had to make a 300m loan to maintain. though luckly brokers like hotforex was able to coup up.

 

Yeah I'm also with Hotforex I got a message from them after turmoil saying they got out unaffected. That's is how wise risk management works!

Share this post


Link to post
Share on other sites

yup, like in general risk is every where and its just up to how we or they manage it that makes a difference, the CHF move last year was CRAZY seriously ridiculous but thats forex for you.

Share this post


Link to post
Share on other sites
I don't trade forex, but I think the same principle applies for all types of brokers: go with one of the big firms.

 

Your biggest risk with a broker isn't them nickel and diming your order flow, charging you a few cents more commission than the other guy, or taking longer to answer the phone when you call support . . . It's whether the broker is financial stable and well regulated as a company.

 

The last time a load of brokers went bust was with the CHF thing earlier this year. Smaller firms got cleaned out overnight. A few of the big firms were caught up in it and lost way more, but it didn't matter to them because they were so well capitalized.

 

I don't worry about my order flow being nickel and dimed either but I need correct price data on my charts which is a concern with some of the cfd providers

Share this post


Link to post
Share on other sites
I don't worry about my order flow being nickel and dimed either but I need correct price data on my charts which is a concern with some of the cfd providers

 

 

Which CFD providers do you use? I use Hotforex do you know them? I would like to know about your broker choices more.

Thanks.

Share this post


Link to post
Share on other sites
Which CFD providers do you use? I use Hotforex do you know them? I would like to know about your broker choices more.

Thanks.

 

currently with pepperstone they're good, don't really know hotforex they sound ok, most are ok these days with under 20000 accounts i think it's once you start trading consistent bigger sizes you start getting issues

Share this post


Link to post
Share on other sites
currently with pepperstone they're good, don't really know hotforex they sound ok, most are ok these days with under 20000 accounts i think it's once you start trading consistent bigger sizes you start getting issues

 

I see, thanks for you reply. I just trying to figure out what is Zero spread account, a type of trading account Hotforex offers, says there is zero spread on EUR/USD but commission only. Is it possible? What are the pitfalls?

Share this post


Link to post
Share on other sites

Don't listen traders who suggest brokers. It depends of country you're living, of conditions and your exeprience all in all. But to find the BEST broker for you is pretty simple. I still don't understand why a lot of newbies choose scam brokers.. 
1. First of all you have to check list of best brokers in your country.
2. Then check conditions and reputations of brokers who you prefer;
3. After that check information about regulations. It's really necessary because if something happend you'll lost your deposit irretrievably.
4. You emmited 2-3 brokers, yep? Now read attentively comments about these brokers. Forums, youtube etc. Just spend 2-3 hours for better understanding.
5. Compare 2 winners and choose the best one  And even after that trade with chosen broker only in demo-account. If you'll see it's YOURS than you can boldly invest money and trade. But do it smart!

Well, such this way I've chosen an Amarkets with these simple steps and still trade with them. It's really nice scheme.

Edited by JohnyIve

Share this post


Link to post
Share on other sites

If you want to train, it's better to start with a Demo account because you don't use real money but it's absolutely identical to the real account. 

When you feel enough experience, you can open a live account. 

Edited by JustForex

Share this post


Link to post
Share on other sites

Forex brokers are firms that provide traders with access to a platform that allows them to buy and sell foreign currencies. Transactions in this market are always between a pair of two different currencies, so forex traders either buy or sell the particular pair they want to trade.Forex brokers may also known be as a retail forex broker, or currency trading brokers. Most forex broker firms handle only a very small portion of the volume of the overall foreign exchange market. Retail currency traders use these brokers to gain access to the 24-hour currency market for purposes of speculation. Forex broker services are also provided for institutional clients by larger firms such as investment banks.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 29th March 2024. GBPUSD Analysis: The Pound Trades Higher But For How Long? The global Stocks Markets are closed due to Easter Friday (Good Friday). The NASDAQ continued to follow the sideways trend while other indices again rose. The SNP500 reaches an all-time high, but the NASDAQ remains under pressure from Tesla, Meta and Apple. The Euro continues to trade lower against all major currencies including the US Dollar, Euro and Japanese Yen. The British Pound is the best performing currency during this morning’s Asian session. However, investors are largely fixing their attention on this afternoon’s Core PCE Price Index. GBPUSD – The Pound Trades Higher but For How Long? The GBPUSD is slightly higher than the day’s open and is primary due to the Pound’s strong performance. At the moment, the British Pound is increasing in value against all major currencies. However, the US Dollar Index is also trading 0.10% higher and for this reason there is a slight conflict here. If investors wish to avoid this conflict, the EURUSD is a better option. This is because, the Euro depreciating against the whole currency market avoiding the “tug-of-war” scenario. The GBPUSD is trading slightly lower than the 2-month’s average price and is trading at 49.10 on the RSI. For this reason, the price of the exchange is at a “neutral” level and is signalling neither a buy nor a sell. The day’s price action and future signals are possibly likely to be triggered by this afternoon’s Core PCE Price Index. Analysts expect the Core PCE Price Index to read 0.3% which is slightly lower than the previous month but will result in the annual figure remaining at 2.85%. The PCE rate is different to the inflation rate and the Fed aims for a rate between 1.5% to 2.00%. Therefore, even if the annual rate remains at 2.85%, as analysts expect, it would be too high for the Fed. If the rate increases, even if only slightly, the US Dollar can again renew bullish momentum and the stock market can come under pressure. This includes the SNP500. Investors are focused on the publication of data on the UK’s gross domestic product (GDP) for the last quarter of 2023: the quarterly figures decreased by 0.3%, and 0.2% over the past 12-months. This confirms the state of a shallow recession and the need for stimulation. The data, combined with a cooling labor market and a steady decline in inflation, increase the likelihood that the Bank of England will soon begin interest rate cuts. In the latest meeting the Bank of England representatives did not see any members vote for a hike. USA500 – The SNP500 Rises to New Highs, But Cannot Hold Onto Gains! The price of the SNP500 rises to an all-time high, before correcting 0.33% and ending the day slightly lower than the open price. Nonetheless, the index performs better than the NASDAQ which came under pressure from Tesla, Meta and Apple which hold a higher weight compared to the SNP500. For the SNP500, these 3 stocks hold a weight of 9.25%, whereas the 3 stocks make up 14.63% of the NASDAQ. The SNP500 is also supported by ExxonMobil’s gains due to higher energy prices. The market will remain closed on Friday due to Easter. However, the market will reopen on Monday for the US and investors can expect high volatility. Investors will also need to take into consideration how the PCE Price Index and the changed value of the US Dollar is likely to affect the stock market next week. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • MT4 is good and will be good until their parent company keep updating the software, later mt4 users will have to switch to mt5.
    • $SOUN SoundHound AI stock at 5.91 support area , see https://stockconsultant.com/?SOUN
    • $ELEV Elevation Oncology stock bull flag breakout watch , see https://stockconsultant.com/?ELEV
    • $AVDX AvidXchange stock narrow range breakout watch above 13.32 , see https://stockconsultant.com/?AVDX
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.