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sachpazidisboris

Forex Broker

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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.

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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

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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

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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.

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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.

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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

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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!

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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.

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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

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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.

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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

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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?

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Posted (edited)

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

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Posted (edited)

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

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