Putin's Nuclear Threats: Rhetoric or Reality?

[Online]

Calling all experienced Currency, Futures and Stock Traders out there

I'm currently searching for a reputable broker for currency and fx futures.

If your experiencing a good broker please can you help a new trader with your professional opinion on who is a worthwhile broker please?

I am studying at the moment and mainly trade Spot Currency FX

Thank you kindly for your suggestions and comments :jap:

[PoeDogg]

Are you looking for someone to actually trade for you or for a broker that executes the trades that you input?

I do my own trading and use Interactive Brokers for stocks, forex and have tried Infinity Futures for futures trading and will use them when I get ready to trade futures "live".

[Online]

Are you looking for someone to actually trade for you or for a broker that executes the trades that you input?

I do my own trading and use Interactive Brokers for stocks, forex and have tried Infinity Futures for futures trading and will use them when I get ready to trade futures "live".

Hi PoeDogg, thanks for your comments, I do my own trading for spot forex and looking for a good reputable broker to execute my trades

[PoeDogg]

I am happy with interactive brokers and their prices, but it does take awhile to learn their platform.

[Online]

I am happy with interactive brokers and their prices, but it does take awhile to learn their platform.

Thanks may I ask do you use the Trader Workstation? Do you have any connectivity issues or freezes during high volatility or during the news times?

Interactive Brokers look good, I am looking at their website now with a view to the spreads on spot forex

[PoeDogg]

Yes, I use their Trader Workstation (TWS) and sometimes it will freeze up, but have always put that off on my internet connection.

[Online]

Yes, I use their Trader Workstation (TWS) and sometimes it will freeze up, but have always put that off on my internet connection.

I'm trying out Metatrader MT4 at the moment and it seems quite useful for indicators, I use the ADX, MACD and TTM Squeeze/BB Squeeze

I would like to find a broker who will allow me to set up a small account at first until I am ready to take on larger account responsibilities

I specialise in the EUR USD pair, be great to hear about other Brokers for trading spot fx or futures

[Chivas]

Yes, I use their Trader Workstation (TWS) and sometimes it will freeze up, but have always put that off on my internet connection.

I'm trying out Metatrader MT4 at the moment and it seems quite useful for indicators, I use the ADX, MACD and TTM Squeeze/BB Squeeze

I would like to find a broker who will allow me to set up a small account at first until I am ready to take on larger account responsibilities

I specialise in the EUR USD pair, be great to hear about other Brokers for trading spot fx or futures

You would do well to contact TV member Paulo1.

However the last few weeks he appears to have disappeared off the forum. Of course it could be sickness or holiday, but unfortunately he never got the respect he deserved on this forum and I fear he may have deserted elsewhere.

[Online]

Yes, I use their Trader Workstation (TWS) and sometimes it will freeze up, but have always put that off on my internet connection.

I'm trying out Metatrader MT4 at the moment and it seems quite useful for indicators, I use the ADX, MACD and TTM Squeeze/BB Squeeze

I would like to find a broker who will allow me to set up a small account at first until I am ready to take on larger account responsibilities

I specialise in the EUR USD pair, be great to hear about other Brokers for trading spot fx or futures

You would do well to contact TV member Paulo1.

However the last few weeks he appears to have disappeared off the forum. Of course it could be sickness or holiday, but unfortunately he never got the respect he deserved on this forum and I fear he may have deserted elsewhere.

Thanks for your feedback Chivas, I will be in touch with Paulo when he is back and go through some of the older threads in the meantime

[zappalot]

Since more than 5 years i am trading the Forexmarket with Oanda.com.

This has several reasons:

Even here from Thailand execution is really fast - there are no delays.

for a buy/sell at a limit order i often get better rates than i ordered

Most currency pair rates are provided with 5 digits behind the comma, e.g. the EUR/USD is 1.33157

The spread is not to high, for the EUR/USD most of the day between 1,2 and 1,4 pips,

I love there charting software as it provides unlimited windows and that is what i need (i use up to 30 chart windows (3840x1080))

Can also be used with MT4

They pay an interest for your money

You can trade any amount, that mean u can sell and buy even only one unit of a currency, so u can adjust ur risk to ur skills and needs, even no minimum needed to open an account

Edited November 26, 2011 by zappalot

[Online]

Since more than 5 years i am trading the Forexmarket with Oanda.com.

This has several reasons:

Even here from Thailand execution is really fast - there are no delays.

for a buy/sell at a limit order i often get better rates than i ordered

Most currency pair rates are provided with 5 digits behind the comma, e.g. the EUR/USD is 1.33157

The spread is not to high, for the EUR/USD most of the day between 1,2 and 1,4 pips,

I love there charting software as it provides unlimited windows and that is what i need (i use up to 30 chart windows (3840x1080))

Can also be used with MT4

They pay an interest for your money

You can trade any amount, that mean u can sell and buy even only one unit of a currency, so u can adjust ur risk to ur skills and needs, even no minimum needed to open an account

Hi zappalot, thanks for your comments thats a good spread at 1.2 pips + you use some large charts!

Can I ask you a question please, how do you find the execution of trades with the internet here it is ok?

Also I wonder if Fridays around news times is ok to trade with no problems? Did your broker platfrom 'freeze' when you try to make a trade?

May I ask you what major currency pair you trade and also during which market zones?

Thank you kindly for your feedback and comments! :jap:

[zappalot]

i dont have any problems with the execution here, as i wrote before its fast and reliable.

But: indeed it sometimes freezes from the time a news was released about 5-15 minutes. But: u should see this as an advantage. News bring unpredictable moves - i never have seen someone making money with news, people trading news usually quickly disappear from the market - because of emptied accounts.

i personally use US-news times for a break - from 15 min. before the news release about 45 minutes onwards.

I am trading the majors EUR/USD, AUS/USD, NZD/USD, GBP/USD for skalping and all the about another 50 pairs that oanda provides as a long-term investment (2 days up to half a year!)

[Online]

i dont have any problems with the execution here, as i wrote before its fast and reliable.

But: indeed it sometimes freezes from the time a news was released about 5-15 minutes. But: u should see this as an advantage. News bring unpredictable moves - i never have seen someone making money with news, people trading news usually quickly disappear from the market - because of emptied accounts.

i personally use US-news times for a break - from 15 min. before the news release about 45 minutes onwards.

I am trading the majors EUR/USD, AUS/USD, NZD/USD, GBP/USD for skalping and all the about another 50 pairs that oanda provides as a long-term investment (2 days up to half a year!)

Hi zappalot, thanks for your comments, interesting to hear your reply regarding the news you are trading many currency pairs! I can only concentrate on one or two at the moment or my brain lags lol

I like the EUR USD this last two weeks have been crazy what with Italy and German Bund Auction recently, which helped me to setup some nice shorts

Would you mind telling me what your favourite technical analysis tools / indicators are when trend scalping the majors?

Do you trade late at night here so that you catch the NY close? I am thinking about changing my timeframe and trading later on at night time here in Thai to capture more liquidity in the LON NY markets.

Nice to hear from you as you have a lot of experience trading! :jap:

[4evermaat]

Yes, I use their Trader Workstation (TWS) and sometimes it will freeze up, but have always put that off on my internet connection.

I'm trying out Metatrader MT4 at the moment and it seems quite useful for indicators, I use the ADX, MACD and TTM Squeeze/BB Squeeze

I would like to find a broker who will allow me to set up a small account at first until I am ready to take on larger account responsibilities

I specialise in the EUR USD pair, be great to hear about other Brokers for trading spot fx or futures

Don't usually see many forex traders around here. But glad to see there is an interest.

MT4 brokers: GoMarkets, VantageFX, InstaForex, Ibfx Au. Instaforex has a local deposit guy, which I thought was cool and after doing some more research I decided to give them a try. Their entire client "cabinet" (back office) is very automated, and you can do just about everything with a few mouse clicks or filling out a form. Their email support is fast and they offer up to 1:1000 leverage, which i thought was cool.

GoMarkets withdrawals are very fast. They have had some small feed problems as they have switched liquidity providers, but all is well. VantageFX also has a local deposit option and has several free tools they offer their clients on top of mt4. Both have 500:1 leverage and very good spreads on most pairs.

instaforex and vantagefx has metatrader 5 live.

Note that none of these brokers accept USA residents, which is not a problem because you can open up account with thai (or other country) drivers license.

Since more than 5 years i am trading the Forexmarket with Oanda.com.

This has several reasons:

Even here from Thailand execution is really fast - there are no delays.

for a buy/sell at a limit order i often get better rates than i ordered

Most currency pair rates are provided with 5 digits behind the comma, e.g. the EUR/USD is 1.33157

The spread is not to high, for the EUR/USD most of the day between 1,2 and 1,4 pips,

I love there charting software as it provides unlimited windows and that is what i need (i use up to 30 chart windows (3840x1080))

Can also be used with MT4

They pay an interest for your money

You can trade any amount, that mean u can sell and buy even only one unit of a currency, so u can adjust ur risk to ur skills and needs, even no minimum needed to open an account

I guess oanda has come a long way. They are known to freeze their entire platform during news announcements or other volatile periods. I saw it myself a couple of times. But other than that, they are solid. Plus, I'm sure they had to shape up in order to offer mt4, as automated traders like myself really do not appreciate intentional lockouts of any kind. Leverage is kind of low for my tastes (1:50)

[zappalot]

i dont use any so called "technical indicators". when i did i never earned money with them.

this is my setup with the oanda software and thats all i use (3840x1080)

From EUR/AUS/NZD i always try to identify the strongest one and most of the time invest only in the strongest trending currency i identified.

the others i just monitor for long term investment...

best time for trading is from 1 or 2 pm (bkk-time) to about 11:30 pm. the remaining time is often to slow for a nice trading/not worth to waste the time.

[Online]

Yes, I use their Trader Workstation (TWS) and sometimes it will freeze up, but have always put that off on my internet connection.

I'm trying out Metatrader MT4 at the moment and it seems quite useful for indicators, I use the ADX, MACD and TTM Squeeze/BB Squeeze

I would like to find a broker who will allow me to set up a small account at first until I am ready to take on larger account responsibilities

I specialise in the EUR USD pair, be great to hear about other Brokers for trading spot fx or futures

Don't usually see many forex traders around here. But glad to see there is an interest.

MT4 brokers: GoMarkets, VantageFX, InstaForex, Ibfx Au. Instaforex has a local deposit guy, which I thought was cool and after doing some more research I decided to give them a try. Their entire client "cabinet" (back office) is very automated, and you can do just about everything with a few mouse clicks or filling out a form. Their email support is fast and they offer up to 1:1000 leverage, which i thought was cool.

GoMarkets withdrawals are very fast. They have had some small feed problems as they have switched liquidity providers, but all is well. VantageFX also has a local deposit option and has several free tools they offer their clients on top of mt4. Both have 500:1 leverage and very good spreads on most pairs.

instaforex and vantagefx has metatrader 5 live.

Note that none of these brokers accept USA residents, which is not a problem because you can open up account with thai (or other country) drivers license.

Since more than 5 years i am trading the Forexmarket with Oanda.com.

This has several reasons:

Even here from Thailand execution is really fast - there are no delays.

for a buy/sell at a limit order i often get better rates than i ordered

Most currency pair rates are provided with 5 digits behind the comma, e.g. the EUR/USD is 1.33157

The spread is not to high, for the EUR/USD most of the day between 1,2 and 1,4 pips,

I love there charting software as it provides unlimited windows and that is what i need (i use up to 30 chart windows (3840x1080))

Can also be used with MT4

They pay an interest for your money

You can trade any amount, that mean u can sell and buy even only one unit of a currency, so u can adjust ur risk to ur skills and needs, even no minimum needed to open an account

I guess oanda has come a long way. They are known to freeze their entire platform during news announcements or other volatile periods. I saw it myself a couple of times. But other than that, they are solid. Plus, I'm sure they had to shape up in order to offer mt4, as automated traders like myself really do not appreciate intentional lockouts of any kind. Leverage is kind of low for my tastes (1:50)

Hey 4evermaat Thanks for your comments, you mentioned some Super Leverage available there! You mentioned an interesting point when you say Instaforex has a local deposit guy, can you please tell me how this works? Q: 'VantageFX also has a local deposit option', I will look into these also thanks!

[Online]

i dont use any so called "technical indicators". when i did i never earned money with them.

this is my setup with the oanda software and thats all i use (3840x1080)

From EUR/AUS/NZD i always try to identify the strongest one and most of the time invest only in the strongest trending currency i identified.

the others i just monitor for long term investment...

best time for trading is from 1 or 2 pm (bkk-time) to about 11:30 pm. the remaining time is often to slow for a nice trading/not worth to waste the time.

Hi zappalot, thanks for your interesting comments and sharing your setup screens Super Chart City! Nice and simple with no clutter on screen!

I see you use the OHLC bar charts, I am learning the Japanese Candlesticks at the moment, I got hold of Steve Nisons Seminar DVD it is really good!

I agree with your timing, the later afternoons pick up quite nicely with Frankfurt/Lon and at night the NY opening

zappalot can you tell me can you scale out of trades easily in oanda? I may have a look at their demo! thanks for sharing your tips

[Online]

i dont use any so called "technical indicators". when i did i never earned money with them.

this is my setup with the oanda software and thats all i use (3840x1080)

From EUR/AUS/NZD i always try to identify the strongest one and most of the time invest only in the strongest trending currency i identified.

the others i just monitor for long term investment...

best time for trading is from 1 or 2 pm (bkk-time) to about 11:30 pm. the remaining time is often to slow for a nice trading/not worth to waste the time.

Zappalot can I please ask you a question, did you notice a difference in trade execution timing when you went from Demo account to a Live account with Oanda? Both are still ok and quick trade transactions with no waiting for Oanda to fill the order? Thanks again for your feedback

[zappalot]

1. u can scale out the charts largely and

2. the execution speed of the demo trades are the same as with the real ones. There is no delay or time to wait for a fill. You will get the same, in fast markets the next available price. That mean u can get a better, sometimes a worse price, in average u get what u c... i just went long NZD/USD and fill came in the same instant i clicked "Submit" on the mouse button

[Online]

1. u can scale out the charts largely and

2. the execution speed of the demo trades are the same as with the real ones. There is no delay or time to wait for a fill. You will get the same, in fast markets the next available price. That mean u can get a better, sometimes a worse price, in average u get what u c... i just went long NZD/USD and fill came in the same instant i clicked "Submit" on the mouse button

:jap: thanks Zappalot I am now using their FXTrade Java Platform and looking at the EUR USD as we speak I like their platform it is very customisable!

Thanks for confirming your trade execution times ;)and sharing your tips, this makes me feel more confident. Hope you dont mind me asking you a milltion questions and I appreciate your advice, do Oanda charge you when transfer profit back out to your bank account?

[zappalot]

yes, they charge u, but it depends on the method as i remember.

the first withdrawal within a month to my european bank account is 20 Euro (i also have my accounts with oanda in euro)

so i always wait until i really need money...

as i remember u can also withdraw money with paypal, but i dont know the fees for this...

[Online]

yes, they charge u, but it depends on the method as i remember.

the first withdrawal within a month to my european bank account is 20 Euro (i also have my accounts with oanda in euro)

so i always wait until i really need money...

as i remember u can also withdraw money with paypal, but i dont know the fees for this...

Great thanks I will look into their transaction and transfer fees more closely. Happy trading on the AUD USD!

[4evermaat]

Hey 4evermaat Thanks for your comments, you mentioned some Super Leverage available there! You mentioned an interesting point when you say Instaforex has a local deposit guy, can you please tell me how this works? Q: 'VantageFX also has a local deposit option', I will look into these also thanks!

thaifxtrading.com. or when you select local deposit in thailand from within instafx cabinet, they will give you contact details. You fill out deposit/withdraw information with thaifxtrading "forms" pages (scroll down for english version). Then wait for email reply with instructions. Then make cash deposit or better to do it online. good to open an account with the guy and fund it there first, as you'll save 2% of the exchange fee. It's usually pretty instantaneous after you pay...I often wonder if the guy gets any sleep.

You may always open as many accounts as necessary with different introducing brokers, and transfer funds between accounts. CashBackForex.com offers 1.3 pip rebates. I'm actually getting 1.6 pips (I can tell you how PM). I use cost averaging, so i make many small deals all the time. And because they offer nano lots, position sizing is very easy to work out on spreadsheet. I attached one that I helped develop to assist in determining exactly how much I want to risk.

I can easily do 1.5-3 lots a day. which is appx $26-44 extra. They take 1-2 days to credit the rebates.

Update: for instaforex, the thailand deposit is still good, but due to anti-money laundering rules you must make

So if you if you deposit 100% via local bank in thailand.. yes.. you can withdraw 100% via local bank in thailand, but if you deposit 50% via local bank in thailand and 50% via other methods, you can withdraw only 50% via local bank in thailand.

GoMarkets and most brokers allow at least one standard withdraw method regardless of deposit method (usually wire transfer). So it looks like the best thing is to just open a new account and deposit with different method, then internally transfer money between accounts.

AF Cost Averaging Worksheet.xls

Edited November 29, 2011 by 4evermaat

[Online]

Hey 4evermaat Thanks for your comments, you mentioned some Super Leverage available there! You mentioned an interesting point when you say Instaforex has a local deposit guy, can you please tell me how this works? Q: 'VantageFX also has a local deposit option', I will look into these also thanks!

thaifxtrading.com. or when you select local deposit in thailand from within instafx cabinet, they will give you contact details. You fill out deposit/withdraw information with thaifxtrading "forms" pages (scroll down for english version). Then wait for email reply with instructions. Then make cash deposit or better to do it online. good to open an account with the guy and fund it there first, as you'll save 2% of the exchange fee. It's usually pretty instantaneous after you pay...I often wonder if the guy gets any sleep.

You may always open as many accounts as necessary with different introducing brokers, and transfer funds between accounts. CashBackForex.com offers 1.3 pip rebates. I'm actually getting 1.6 pips (I can tell you how PM). I use cost averaging, so i make many small deals all the time. And because they offer nano lots, position sizing is very easy to work out on spreadsheet. I attached one that I helped develop to assist in determining exactly how much I want to risk.

I can easily do 1.5-3 lots a day. which is appx $26-44 extra. They take 1-2 days to credit the rebates.

Update: for instaforex, the thailand deposit is still good, but due to anti-money laundering rules you must make

So if you if you deposit 100% via local bank in thailand.. yes.. you can withdraw 100% via local bank in thailand, but if you deposit 50% via local bank in thailand and 50% via other methods, you can withdraw only 50% via local bank in thailand.

GoMarkets and most brokers allow at least one standard withdraw method regardless of deposit method (usually wire transfer). So it looks like the best thing is to just open a new account and deposit with different method, then internally transfer money between accounts.

Thank you kindly for supplying more information

thaifxtrading.com hides their WHOIS data behind a privacy company which makes me question them immensely, and Instaforex is listed as a scam site on Google!

[4evermaat]

Thank you kindly for supplying more information

thaifxtrading.com hides their WHOIS data behind a privacy company which makes me question them immensely, and Instaforex is listed as a scam site on Google!

Not sure about the google calling instafx a scam. I have registered several domain names and I use the privacy guard protection that the registrar provides. Otherwise you get loads of spam/marketing messages.

[Online]

Thank you kindly for supplying more information

thaifxtrading.com hides their WHOIS data behind a privacy company which makes me question them immensely, and Instaforex is listed as a scam site on Google!

Not sure about the google calling instafx a scam. I have registered several domain names and I use the privacy guard protection that the registrar provides. Otherwise you get loads of spam/marketing messages.

May I ask you if this is your company?

[4evermaat]

May I ask you if this is your company?

Nope. I just trade there and i'm passing along my experiences.:jap:

[Online]

May I ask you if this is your company?

Nope. I just trade there and i'm passing along my experiences.:jap:

appreciate your reply, and thanks for sharing your experience and tips!

[hyperdimension]

I'd avoid Instaforex as they have a murky history.

In the spot forex market you need to be aware of the different types of brokers. There are many brokers who do not hedge the exposure into the real currency markets and simply take the other side of your trade. This means that if you win, they lose, and vice-versa, like a casino. So if you win too much, they can get upset, and can then do things to give them a better edge over you. Some examples are:

1. Requotes. When you submit an order to execute at a particular price, they respond asking you whether you want to execute at a slightly worse price. This can happen legitimately if the prices are moving rapidly at the time, but it can also happen when a broker is intentionally working to squeeze money out of you.
2. Delayed execution of your orders. During the delay, the price can move, and depending on whether the price after the delay is in the favor of the broker, the server can either execute at the new price (referred to as "slip") or execute at the originally requested price so that the broker pockets the difference. There is a piece of software called the "Virutal Dealer plugin" that some MetaTrader brokers use that automates this scamming process. There is plenty of information about it via an internet search. I have experienced this with FigFX (who has a history of borderline scamming and unfair practices) and Prime Forex (who no longer exists - ran away with client money not too long ago but I managed to get mine out early with some struggle).
3. Being put on manual execution. You then have to wait for an actual person dealer to respond every time you submit an order. When the dealer responds, which could be 30s or more, he either executes the trade at your requested price (which could be worse than the latest price) or requotes you at a worse price. I've experienced this with LiteForex.

Brokers who do not hedge their exposure into the real markets are called "dealing desk" brokers, whereas those that do hedge (or provide direct access to the real markets) are often labeled "STP" (Straight-through processing) or "ECN" (Electronic communication network), or "DMA" (Direct market access). I'd suggest sticking with the non-dealing desk brokers ("NDD"), i.e. STP/ECN/DMA brokers.

Also, avoid brokers who are not registered with the country's financial regulator, e.g. FSA in the UK, or NFA in the USA or ASIC in Australia. Brokers who are registered must comply with the rules and regulations of and report to the regulatory body. This added protection for the trader, e.g. the FSA has the FSCS:

The FSCS is the UK's compensation fund of last resort for customers of authorised financial services firms. We may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. This is usually because it has stopped trading or has been declared in default.

Currently the FSCS compensation limit is 50k GBP.

I'd say some good and safe brokers are Interactive Brokers, Dukascopy, Oanda, ATC Brokers, MB Trading. A good web site to search for a broker is www.100forexbrokers.com (their broker "cybersearch" is excellent). Another popular web site with broker reviews and ratings with an anti-scam theme is forexpeacearmy.com. A good discussion forum is forexfactory.com.

Edited November 30, 2011 by hyperdimension

[hyperdimension]

Brokers who do not hedge their exposure into the real markets are called "dealing desk" brokers

They may also be called "Market makers", as in addition to trading against the broker themself, you may also be trading with their other clients.

Note that STP brokers may simply be passing on orders "straight through" to a liquidity provider who is merely a wholesale market maker, which is only a little better than trading directly with a market maker broker. Other brokers (e.g. FXCM) may pass on orders to a number of different liquidity providers, which is a much better arrangement.

I'd avoid Instaforex as they have a murky history.

Instaforex state on their web site:

In 2008 InstaForex Company became a member of RAFMM having proved its leadership in financial markets and high quality of rendered services. The Russian Association of Financial Market Members is an independent regulatory authority which unites licensed financial companies in Russia and considers any claims emerging between brokers and their customers.

I'd suggest to steer clear. It would be safer to choose brokers who are regulated in UK, USA, Australia or Switzerland.