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Optimist5

What Broker Are You Using and Why?

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I'm trading with HotForex, I know it through one friend's referral. I make profit consistently with this broker. That's the reason why I can keep trading with this broker over 9 months.

 

i had used their demo account for weeks but read some bad reviews about them on many forums and decided not to open a live account, that was years ago. How r they these days?

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I use Admiral Markets for trading only one currency pair, the eurusd.........like their fast execution and low spreads, but most of it like the service and account funding/withdrawing process.......and I use Dukascopy in Switzerland for the other pairs, as the spread is significantly lower there........the major drawdown on Dukascopy is the fact that before the weekend, they automatically change the leverage.......but, funny thing, in time I discovered this helped me all the time.......another drawdown is communication there......in order to talk with somebody there, and actually solve a problem, you gotta have patience........and this chapter is something I am still working on

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Interactive Brokers because it lets me trade pretty much any market in the world and being in a non-USA timezone that is important to me. Their commissions and spreads I would consider to be competitive. Their customer support and excessive regulation within the USA can be a major problem/headache.

 

I also use Oanda and have found them to be good.

 

With kind regards,

MK

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I used TS. At first I thought they were expensive but with the Globex combo for 20$ / month I have access to most exchanges which I think nobody mention in here. I don't have to pay platform fees since their min requirement of trades I meet in a day. No commission for FOREX, 1$ per contract on futures ( I don't trade stocks) and much more it would take to much to write. Good luck, I hope I could help.

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I'm using Excel Markets- for a couple of reasons - their support is great, and I'm nervous enough as it is (not entirely new, but not nearly clued-up on currency trading). I also got a $100 bonus for my (small) bankwire deposit - and their spreads tend to be competitive - but I'm open to persuasion if you think I can do better!

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I am using profiforex, and I am yet to regret my decision to pitch with the broker. My reasons are; Easy to open a trading account in 2 minutes, one click deposits and withdrawals. Instant deposits with no commission, withdrawals in 24 hours (I get my money anytime I need it), No hidden charges. All the commissions and fees are clearly stated in "Trading conditions”. Secondly, profiforex offers me The fastest and fair execution, Lowest commission, Up to 1:500 leverage and a Fixed and variable spreads starting at 0.1 pips

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i trade with hotforex, i have been trading for almost two years i guess, stopped for a while then came back. still have a job of course, and hope to trade full time someday. i like this broker coz there is less pain in the ars and everything goes smooth in regards to withdrawal and deposit transactions, platform is good

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still with my ECN Tickmill account. because they had best trading condition for my scalping method. no issue with payment, and added 15% deposit bonus (withdrawable) upon my deposit :).

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still with my ECN Tickmill account. because they had best trading condition for my scalping method. no issue with payment, and added 15% deposit bonus (withdrawable) upon my deposit :).

 

Yeah I also trade with Hotforex on premium. No issues so far

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Yes, I'm also using HotForex at this moment. I'm pretty satisfied with the service and I haven't had any issue so far either.

 

Hi FxFive,

 

What type of account do you have with them and what pairs are you trading? Looking for feedback of live testing of their zero spread account. Would really appreciate any input on this matter.;)

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I am trading with more than one broker at the moment for diversifying my investment purpose and the only reason for choosing them is that they are decent and reputed brokers of the market.

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Since the last 3 years, I was actively trading with Amarkets. When I was a new comer with them, I used to start with demo account which really help me to understand some aspects of trading forex market. After I get familiar then only I open the real account, and decided to join forex clases at least to learn from professional traders which mostly experienced more than 10 years in forex. Until now, I keep on trading with Amarkets, and if I faced some losses I will keep trade with this broker because he gives me all what i need for comfortable trading.

Edited by JohnyIve

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    • Date : 31st March 2020. Dead cat Bounce!Dead cat Bounce! A new term? Not really but definitely something that we haven’t seen for more than a generation.In general, investors throughout the years invented this term as a follow up to a market free fall. By definition, the “Dead cat Bounce” is simply a market phenomenon that translates into temporary small and short-lived rebounds of an asset’s price within a prolonged period of downside. This term is based on the idiom that “even a dead cat will bounce if it falls far enough and fast enough“. Hence in the financial market it is said that even if an asset falls with a considerable speed, it would rebound as even a dead cat would bounce. However, every time there is a rebound, the overall initial trend is then anticipated to resume, bringing the bearish influence back into play.In addition, the phenomenon can occur in any market, yet is particularly prevalent in equity markets. It is often the case that it is considered a continuation pattern.Why are we raising this topic now? This March, was the first time after Black Monday 1987 that we have seen the worst intraday selloffs in stock markets. Since February 20th, the stock market entered an aggressive bear market with a few days of an absolute rally. An example was the 13th of March in which the stock market roared back in the biggest one-day rally since 2008 after its worst single-day crash in 33 years just a day before. This is the classic dead cat bounce.If you closely observe stock market behaviour in March you will notice that there is a dramatic decline, with a number of days when the market reversed some of its losses, but failed to take the bait, and eventually fell back down again. This is a situation of portfolio managers wanting to sell some of their positions and when they see some strength in the market, decided to unload. This is what we call a “dead cat bounce” after it falls from high enough. Remember however that not every correction/reversal can be interpreted as a dead cat bounce.Theoretically this term is defined as the term in which,   A stock in a severe steep decline has a sharp bounce off the lows. A small upward price movement in a bear market after which the market continues to fall. Unfortunately, I need to highlight that there is not an easy way to determine in advance whether an upwards movement is a dead cat bounce which will eventually reverse quickly or whether it is a trend reversal. There is nothing easy in identifying the bottom of the market. However to a large extent a dead cat bounce is a retracement, in comparison to a reversal, i.e. it is temporary.Dead cat bounce as a technical analysis tool and more precisely as a continuation pattern could be tradable from short-term or medium term traders. Having explained this phenomenon, a follow-up article will elaborate on how market participants can trade a dead cat bounce.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 HotForex 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. Andria Pichidi Market Analyst HotForex 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.
    • Date : 30th March 2020. MACRO EVENTS & NEWS OF 30th March 2020.All major countries across the world are effectively locked down now as virus developments remain in focus, with ever bigger aid packages. The data this week especially from the US were highly infected by the pandemic. Hence, as disruptions from COVID-19 have begun to catch up to the soft data measures, the impact will likely be greater in the late-month measures of sentiment. Recession fears could be further escalated if we see any effect in the March US jobs.Monday – 30 March 2020 Harmonized Index of Consumer Prices (EUR, GMT 12:00) – The German HICP preliminary inflation for March is anticipated to decline at 1.4% y/y from 1.7% y/y. Pending Home Sales (USD, GMT 14:00) – Pending home sales rebounded in January to 5.2% m/m, however, for February we could see a big -0.3% pull-back. 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Gross Domestic Product (CAD, GMT 12:30) – Canada GDP results for January are seen to be slowing down, at a monthly rate of 0.2% compared to 0.3% last month. CB Consumer Confidence (USD, GMT 14:00) – The Conference Board Index is expected to have decreased to 121.0, compared to 130.7 in the previous month. Wednesday – 01 April 2020   Caixin Manufacturing PMI (CNY, GMT 01:45) – The Caixin manufacturing PMI is expected to spike to 46.5 from 40.3 in February. ADP Non-Farm Employment Change (USD, GMT 12:15) – The ADP Employment survey is seen at 216k for March compared to the 183K in February. ISM Manufacturing PMI (USD, GMT 14:00) – The ISM index is expected to fall to 43.0 in March from 50.1 in February, compared to a 14-year high of 60.8 in August of 2018. EIA Crude Oil Stocks Change (USOIL, GMT 14:30) Thursday – 02 April 2020   Trade balance (USD, GMT 12:30) – The US trade deficit narrowed -6.7% to -$45.3 bln in January following the 11.0% December jump to -$48.6 bln. February’s one is expected to widen further. Friday – 03 April 2020   Retail Sales (AUD, GMT 00:30) – February’s Retail sales could be improved by 0.4%, following a 0.3% January loss. Event of the Week – Non-Farm Payrolls (USD, GMT 12:30) – A -100k March nonfarm payroll drop is anticipated, following 273k increases in both February and January. This is based on assumptions such as the -20k factory jobs drop in March, and a 47k boost from assumed Census hiring as this temporary job count starts to climb more rapidly. The jobless rate should rise to 3.8% from 3.5%, as COVID-19 disruptions start to take their toll. ISM Non-Manufacturing PMI (USD, GMT 14:00) – The ISM-NMI index is expected to fall to 49.0 from 57.3 in February, versus a recent low of 53.5 in September of 2019 and a 13-year high of 61.2 in September of 2018. The “soft data” measures are finally starting to show a hit from coronavirus disruptions and the emerging OPEC price war, and these hits should be bigger for the late-March reports than the early-March reports. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Click HERE to access the full HotForex 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. Andria Pichidi Market Analyst HotForex 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.
    • Corona virus is every where, lets hope it passes on and everyone should soon resume to daily routine life. So far the trading is ok since it can be done while sitting at home, what about others remarks do share here..!
    • there is not time line to success, some would take months, others years, at most its a constant continues process of struggle, I have been trading a hotforex account for 8 years now, and i dont think im close to what people call successful, but im happy with what little i make.  
    • forex trading is no joke, its  amoney hole for those who dont know what they are doing. its like a "now u see me now u dont" with money, it takes time to understand and study, it takes years to come up with a working strategy, and tons and tons of patience. some people are better off treating it as a hobbie or a past time really. though ive been in it for a decade now.
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