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Quick Broker Question

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I apologize, this has been posted many times in the past ... however, I can not seem to find a new answer so I figured I would ask again.

 

I am looking for a new forex broker. I am currently using TradeStation, but they really nickle and dime you (or so it seems, I'm still somewhat new to this) Though, more importantly, they do not allow me to trade anything but full lots. Normally this isn't a bad thing, but my account is small ... and, like I said, I am still new to trading so I think I would feel more comfortable working with half or quarter lots. (or smaller :)

 

TradeStation also seems to have poor fills at times (not only news, I realize that news times are shaky), and not a very reliable data feed.

 

It seemed about 4 months ago the best place for a small forex trader to be was with Oanda. Was that the case? and if so , is it still?

 

Also, any other thoughts or comments on brokers you like/dislike would be greatly appreciated.

 

Thanks

 

Travis

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I have used Oanda in the past and liked it. Found out currency trading wasn't for me. I am back to stocks and options.

 

Friend uses them and opened multiple currency account to have the ability to withdraw in different currency.

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I haven't used Oanda for a couple of years so I can't say anything about them. Check out MBTrading (efxgroup is now with them). They allow mini lots and have very tight spreads during active market hours. Don't be turned off by the commision until you demo it along side one of the other brokers. You will also find that one broker may be better than the other depending on you strategy, pair traded, and time of day.

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If you're serious about active trading I recommend Lightspeed as your trading platform. I work with a firm that's a great place for both licensed AND UNLICENSED traders looking for leverage greater than retail, which isn't offered at other B/Ds. My experience with them has been very good, and they are very well funded. But most of all...they are a B/D and set up legally unlike many other firms out there providing illegal leverage to non-licensed traders. They offer both Sterling and Lightspeed trading platforms and in my opinion, if you are unlicensed, there is no better platform than Lightspeed. Assent's Anvil is a close second but their rates are higher and they only give retail leverage to non-licensed traders.

 

PM me with any questions.

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Thank you Mr. Smith I'll check in to that software!

 

After playing around with several demo accounts I across FXCM micro. The platform seems to offer everything I need, and 1000 unit lot size is pretty cool.

 

I was wondering if anyone has had any experience with them? good or bad ...

 

On the surface they seem like they fit what I am looking for perfectly ... I just want to make sure there isn't something horrible below that surface :)

 

Thank You

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I haven't used Oanda for a couple of years so I can't say anything about them. Check out MBTrading (efxgroup is now with them). They allow mini lots and have very tight spreads during active market hours. Don't be turned off by the commision until you demo it along side one of the other brokers. You will also find that one broker may be better than the other depending on you strategy, pair traded, and time of day.

 

Oanda is great. Also checkout instaforex, fxcm, avafx and fxcast.

 

 

 

 

 

 

 

 

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Thanks Wilson ... I have never heard of Forex-Metal.com, I'll definitely check them out!

 

 

As an update, I found out the other day that TradeStation does in fact offer mini sized accounts (they just don't advertise it much) so rather then going through the hassle of changing brokers, with such a small account size anyway, I figure I'll stay with TradeStation for the time being.

 

Though, that said, I always like to read about different brokers ... so if anyone has anything left to add please feel free :)

 

Travis

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Oanda is great. Also checkout instaforex, fxcm, avafx and fxcast.

 

Avafx is a decent broker i think. Thinking of opening an account with them since the min deposit is $100 and coincidentally i only have $100 to spare. Anybody here tried this broker?

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I apologize, this has been posted many times in the past ... however, I can not seem to find a new answer so I figured I would ask again.

 

I am looking for a new forex broker. I am currently using TradeStation, but they really nickle and dime you (or so it seems, I'm still somewhat new to this) Though, more importantly, they do not allow me to trade anything but full lots. Normally this isn't a bad thing, but my account is small ... and, like I said, I am still new to trading so I think I would feel more comfortable working with half or quarter lots. (or smaller :)

 

TradeStation also seems to have poor fills at times (not only news, I realize that news times are shaky), and not a very reliable data feed.

 

It seemed about 4 months ago the best place for a small forex trader to be was with Oanda. Was that the case? and if so , is it still?

 

Also, any other thoughts or comments on brokers you like/dislike would be greatly appreciated.

 

Thanks

 

Travis

 

I use Oanda every day and they are very good for execution and the ability to choose your own lot size. Their charting however is not very flexible. Due to the regulation and new capital requirements for FX brokers I have seen that the former big brokers now get better and more customer friendly, as they have more informed traders to serve. Thus, it is not a bad idea to start a Micro account at FXCM and then progress to a standard account. Or, if you like the Metatrader platform, I would go to FXDD. It always depends how you trade, long-term, daytrade, etc.

 

If you have 2500 USD minimum account size available, I would start out at FXDD PLUS use a trading advice/education service such as Forexconfidential.com ( private traders, even part-time ) or http://www.fx-knight.com ( 149 USD monthly ) with their inbuilt Acuity workstation, which allows you to see Volume via eSignal etc.

 

( I am not affiliated with any reco. ). Take your due diligence. :missy:

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hi there

 

I have seen my broker avafx has been discussed here and so i thought why not share some more facts of him who don't know much about them. Many traders don't find any dissimilarities between them and rest of the brokers. I don't know about other broker except couple of once I tried before I get involve with avafx no one has given me satisfaction as they have given. Though they are not NFA regulated and believe me they are trying hard to get the approval asap, still i tried and got to really a good broker.

 

Many would have read bad reviews about them and I believe no one is perfect. Some or the other day such thing might happen to me as well but till date they are the complete package and brokers should take lesson from them to improve.

 

What else i can say about them you have to try it by own so see what i mean. trust me go ahead you won't regret.

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I've been looking up Ava just recently and it seemed that they have quite a number of good reviews already. vbulletin-smile.gif

 

good for you, well, when looking for a broker there are so many things you have to check. But first i will consider the brokers reputation,trading condition and the withdrawal and deposit system. this what I consider before opening my account with Armada Markets last years ago, reputable one, even this not the only thing to consider, any website review sometimes just had their own odd issue, I'd prefer to make sure by my own experience. these where i found AM trading condition are very competitive.

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Really, I am also researching about futures trading. Not too many brokers have this trading type.

there's lot of brokers offer such spread, try with listed ECN brokers at myfxbook brokers page and listed any potential brokers you may found.

another test are to experience brokers spread by your own, on their trading platform.

I've been doing these before decide to use Tickmill ECN account.

and here's spread listed at their mt4 platform (using scalping dashboard got from ff)

X1hAeeg.jpg

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