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.

VTK

Which "fixed Spread Bandit" to Choose??

Recommended Posts

Hey folks!

 

I am about to go live and mine two favorite spot FX brokers are MB Trading and Interactive brokers.Whit MBT i can not open account because i am citizen of Rebublic of Croatia:crap:

IB have minimum deposit of 10K,but i want to start small like 500$.

So the deal is,for now,i have to open account with MM type of broker.

 

Can anyone point me on decent broker?

 

One without often requotes,often slippage,slow order filling,weird spikes and all other bad stuff which i do not like..

 

Regards,

VTK

Share this post


Link to post
Share on other sites

VTC

 

Maybe ask Michal Kreslik about some options.

 

FXDD is popular right now (and I don't have a clue why? :)) - but may or may not be accessible where you are.

If nothing else, go with Oanda until you find something that fits your situation and needs.

 

... not much help but hth...

Edited by Soultrader
link removed

Share this post


Link to post
Share on other sites

LOL!:rofl:

 

30 people have checked this thread and i have just one answer!:o

 

Can anyone point me on decent broker?

One without often requotes,often slippage,slow order filling,weird spikes and all other bad stuff which i do not like..

 

That just fortifies mine attitude that great majority of spot fx brokers are just a bunch of bandits!

Wild west baby!:shrug:

P.S.

Anyway zdo,thanx for reply!

 

VTK

Share this post


Link to post
Share on other sites

Hello VTK, the only broker coming to mine, which is mine since 2 years, is Oanda. They are great for any forex method that i use, either sclaping, swing or position trade and their spreads are very good and they dont try to mess with you. Of course, at news time, they increase their spreads for few min but that is standard practice with bucket shops.

 

Im a very happy customer with them

 

Hope it helps

 

Shreem:)

Share this post


Link to post
Share on other sites

Hi VTK, There is a lot of critisism of fixed spread brokers generally but many of the problems are fairly self inflicted by traders. All brokers are clear that should market orders be used to enter or exit trades there may be a degree of slipage and also that during market close hours (normally when those "wierd spikes occurr") that the price they quote will not track the underlying index/future as it isnt being traded. Armed with that knowledge, if it is ones intention to trade with a fixed spread broker, it may be beneficial to trade using limit orders only and to trade solely during market hours. Im not an employee of one of these brokers fwiw, however I have not had the problems many other traders claim to have had with them because I have read the terms of use and disclaimers attached to their accounts and worked my way around them. If using a fixed spread broker is your only trading option, perhaps you could consider a similar approach.

Share this post


Link to post
Share on other sites
Hello VTK, the only broker coming to mine, which is mine since 2 years, is Oanda.

 

Thanx Shreem...Yeah,Oanda looks pretty decent.Only think that i dislike is web based platform.Have asked them do they have desktop version.They do not.

 

 

I have not had the problems many other traders claim to have had with them because I have read the terms of use and disclaimers attached to their accounts and worked my way around them.

 

Sure,one should do his/her extensive homework on particular broker before opening an account.Reading customer agreement is one of homework tasks.

To certain degree there are people who have problems whit brokers because of their ignorance.But lets face it,MM type of FX spot brokers are just in conflict of interest.For me way that they do business is not fair one,and as soon as i have chance to trade on some kind of ECN i will do so.That is way to go IMHO because it is fair and transparent as much as FX Spot can be.

 

Thanx for replies,guys!

Regards,

VTK

Share this post


Link to post
Share on other sites

Soultrader,

 

Just curious - why did you take down the Kreslik link when so many other (shyster) links are left up? I have no affilitation with them, know very little about the site, and only recommended it because I thought he might be from the same area geographically as VTK? Is there something we should know?

 

Thanks.

Share this post


Link to post
Share on other sites

I would go with Oanda... it is web based which is a bit annoying... but what I would do is open up a demo account with some place like FXDD get the MT4 platform for free - use that for charting and then place orders through Oanda's interface.

 

Back when I was trading FX and was looking for brokers (I ended up going through MBT) I was really impressed with Oanda's low spreads. While they are variable to an extent most times I was getting 1 pip or less on the EURUSD during normal trading periods. Quick execution and I think their spreads (IIRC) were 1-2 pips less than most other "fixed spread bandits".

 

And they have no account minimum's and you can trade micro lots. Great for starting out and keeping the size REAL small.

 

Honestly, If I go back to FX at any time I think i'll end up using them as a broker over MBT because while you can get in at the bid and out at the ask, etc. with MBT I rarely found myself using those types of orders and more often than not getting worse fills just exiting and entering at the market in addition to having to pay comissions. I'd rather just pay a spread and be done with it I think.

 

Thing that peev'ed me was in MBT i'd set a limit order to enter or exit my trade and depending on what the spread was at the time I may or may not get filled... but since the spread was always changing you couldn't calculate what the correct price you needed to set it at to get a fill. It lead to a lot of missed exits and entries by factions of a pip due to the spread.

 

Fixed spread bandits aren't the demons we all make them out to be. Depends on how you trade I suppose... but for most people its much easier and simple to just use a broker like Oanda and be done with it.

 

Cheers!

Share this post


Link to post
Share on other sites

I use Oanda and a couple Metatrader demos......

 

 

Oanda seems to treat me fairly well and I like to have the added resources of the Metatrader demos, particularly as they provide prices on many different instruments.

Share this post


Link to post
Share on other sites
That just fortifies mine attitude that great majority of spot fx brokers are just a bunch of bandits!

 

My daughter trades a little micro account at FXCM. I haven't seen anything that would imply that they are "bandits."

Share this post


Link to post
Share on other sites
Hey folks!

 

I am about to go live and mine two favorite spot FX brokers are MB Trading and Interactive brokers.Whit MBT i can not open account because i am citizen of Rebublic of Croatia:crap:

IB have minimum deposit of 10K,but i want to start small like 500$.

So the deal is,for now,i have to open account with MM type of broker.

 

Can anyone point me on decent broker?

 

One without often requotes,often slippage,slow order filling,weird spikes and all other bad stuff which i do not like..

 

Regards,

VTK

You might want to look at Alpari. Standard retail FX broker with MT4. As good/bad as any of these types of brokers but I have been with them (in the UK) for some time and have no complaints.

 

I don't scalp (my minimum timeframe is 1-hr for entries) but typically hold trades for days. As mentioned earlier Buy/Sell limit orders are preferable as my main trade entry method but as I never enter trades around major news releases the normal spread-widening that is typical of the FX market at these times is not a problem for me.

 

I would suggest that you apply for a demo and do your own due diligence. A quick email would confirm if your residential status is a problem but as they were originally a Russian setup I'll assume you'll have no problems

Share this post


Link to post
Share on other sites

Hi,

VTK specifically said he wanted a fixed spread 'bandit/broker'. Certainly Oanda, Alpari and many others mentioned in the thread are variable spread - not fixed.

The only reasons I can think of as to why he wants fixed spread are:

A). He is planning to use a robot overnight and so does not want the spread to increase when he is not watching.

B). He wants to trade the News and so wants to avoid increasing spread during announcements.

C). He plans to scalp and wants a constant spread.

 

I would say:

A). Only use a robot which first checks if the spread is acceptable.

B). I doubt if any retail brokers are still good for trading News announcements - if they were, then they would have gone bust many months ago.

C). For scalping you asnt the lowest possible spread, not necessarily a fixed one. Unfortunately most/all(?) ECNs require a much larger deposit than $500.

 

Ian

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: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. 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 of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou 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 Leveraged 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.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
×
×
  • Create New...

Important Information

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