Work permit and M.E visa to non b

[4evermaat]

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.

Every retail broker is technically a market maker. I started reading the terms and conditions of all the brokers that I opened up the account and they all make it clear that they become the counterparty to all of your transactions. This isn't a bad thing, but just how forex works. There is no exchange where every leg of the pipeline is clearly defined by the exchange. Retail fx is made available to clients via the broker. We really do not know what happens once we press the buy/sell button. Especially when the broker is offering less than 1 standard lot sizes, there will be aggregation. Whether the broker does it "in house" or sets up a separate entity and passes it "straight through" to it, or separate liquidity provider, etc. who knows for sure in many cases. As a retail client, what matters most is that you get filled. In the "real" forex market, there is slippage and partial fills. Limit orders are not guaranteed to be filled, and the market can shoot through a stop loss. Not to mention the volume requirement.

Outside of safety of funds, platform stability, etc, the primary consideration is to find a set of brokers that will match your trading style and then open an account with 2-3 of them. I had some reservations about instaforex. But I looked hard at their infrastructure and for a "market maker" style broker, it is pretty solid. A lot of people criticized FxOpen, but they are one of the most solid brokers available for ECN and high leverage. Not sure if they still white label dukascopy feed.

I do agree that regulations are more stringent for USA, UK, AU based forex brokers. But that certainly has not stopped scammers from doing what they do best. If I had to pick, UK/AU, I would avoid opening acct at usa-based broker. Not just for the leverage, but you really don't know what the CFTC will be interfering with next in order to keep their slav...hmmm.....citizens safe from the big bad outside world.

[cdmtdm]

i have used IG markets for six years and imo one of the best around , i traded heavily in CFD before the GFC hit and they were outstanding , now use them only for FX and find the service good and spreads comp with otehrs ..also like that they continue to evolve ...

good luck

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.

[Paulo1]

FXCM.

Active Trader Account is good. Low spreads. fast order placement, no dealing desk.

Here is new site setup by legendary quaint David Cooney from NZ.. https://mahifx.com/

You need to ask your broker where the money is held. HSBC, CITI, Barclays etc. Most brokers you can not trust in the present climate. Companies, Clearing Firms that were fine 1 month ago can go bust tomorrow. So be careful.

What i do at present and its a bit of a hassle but safe guards the money held in the account is have your money held in your account at your bank, When you want to trade, transfer the money to the brokers account and trade with that money.(takes about 1min) When the trade is over send it back to your bank. You need to set this up and many brokers don't like you doing it. Wonder why?

IG is ok also as is Axitrader

Edited August 5, 2012 by Paulo1

[Paulo1]

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

Hello Zappalot,

Just viewing your screen setup can suggest a couple of things. Also, top line could be. EU, GU. AU, NZU,, this is just an example. You can also have all the Yens next to each other. Metals. Then if you are trading say EURUSD 5 min,1hr and Daily next to each other so you are not flicking all over the place.

EURUSD and directly below USDCHF.. I have attached a screen shot, this way you can double your trades and also have a confluence of price action signals. This is just minor example.