After the change of brokers for brokers in search of the perfect, I gained some experience I can share with beginners and people who are considering doing forex. Please rememebr that there is no perfect broker, what you choose depends on what your style of trading.
1. FXCM
- Leverage: 1:100, which recently changed from 1:200, which is annoying because you will have a greater chance of getting a margin call.
- Minimum deposit: $ 25 for micro and $ 2000 by default. Although not mandatory, but not of U.S. $ 500! It is not even enough to the shore, and you will lose everything in one day.
- Spreads: Medium. Especially during big news events that increase the spreads, but not as much as other brokers. Micro accounts have lower spreads, but you do not have online chat service. If you have more than 25,000 dollars, you can get better spreads.
- Withdrawal: Fast. You can chat online and have them put their request in front of the line, it is urgent.
- Regulation: Regulation under NFA. But you can not do two hedge way anymore. You can apply for FXCM UK, which is regulated NFA.
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MT4: Yes Supported by Boston Technologies. They transfer their operations from your MT4 trading platform. So sometimes there is a delay. If you want to EURGBP scalping, forget it, many people are using this service, so you will get input prices bad.
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Other: You can have access to a more www.dailyfx.com. They also have trading signals, but not use them. You can learn a lot from this site, but simply do not follow their business recklessly. I doubt the analysts on the performance of 'negotiation.
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This is the broker I am using now. Good performance in its trading platform. I am a professional news for the implementation during news events is very important, the orders are executed quickly, and the spreads are usually 10-20 spreads 30 seconds ahead of major news events.
2. Oanda
- 50:1 leverage, not very attractive to retail merchants
- Minimum deposit: $ 1
- Spreads: Good. However, they substantially increase their spreads during news events. Not recommented for marketers news.
- Regulation: NFA
- MT4: No
- Survey: it takes time, why not do direct deposit. They use paypal that will have two more days before receiving the money.
- Lots of negotiation: A big advantage for Oanda is that you can trade mini-mini lot (lot standard 0.01). Thus, the minimum lot is $ 1,000 per transaction size. Other brokers are at least 10,000 (0.1lot) per mini lot. Then, this is good for traders with small amount of money, as several hundred dollars. You can negotiate with small Oanda.
3. MB Trading
- 100:1 Leverage
- Minimum deposit: $ 400
- Spreads: Good. But spreads are a small price, but also charge fees. transaction size of $ 2.95/10k.
- MT4: Yes, I've never tried. They beta tested for years, and that just went live.
- Regulation: NFA
- Withdrawal: This is the worst. They will tell you to wait 2 days for the settlement of their operations before they can process your order. Within 2 days, you can not negotiate anything, and you also have to close their open positions, and if you use a lot of margin.
- Execution: Once I was doing in his scalp trading platform, and I limit orders set to TP. The execution was great. But when I do exchange of news, they also increase spreads widely, and implementation is not guaranteed. Last year, this problem was more prominent. This year is better. But after a bad experience, I do not want to trade news with them anymore.
- Trading lot: How Oanda, you can change the very small size of $ 1,000 only. It's a plus for MBT.
So I recommend this broker for people who are normal and scalping trades. News body may be well now, but at least I'm not going to do with them.
4. Forex.com
I never used the service before. But I demoed it for a long time because they have a fantastic real-time system for comment. It seems that you are a professional. So basically, if you are new, you see a big spike in the EURUSD, and you do not know why you can not afford to enroll in the face of business analysis services, such as Reuters and Bloomberg. But with Forex.com 's platform, you can comment in real time as the "ECB announces …" Therefore, it is definitely worth it to get a demonstration of Forex.com.
- Leverage: 100:1 and 200:1
- Minimum deposit: $ 250
For more information and review of these brokers, please target = "_blank"> www.forexpeacearmy.com
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Article Source: ArticlesBase.com – Compare the Top Forex Brokers US Edition
forex scalping trading 16 10 2009
