Best Forex Retail broker/platform

4X4Living


Quote from Mr_Black:

Dont trade Spot Forex .....Trade futures instead...

Can u suggest a good currency futures Broker?
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Dear Sir

By spot fx and by future fx most of broker's
are FCM(trade from proprietary account
against clients interess)

www.mbtrading.com is pure agent
with level 2 quote for FX spot, and Currency fx but suspect that competence of staff
is not high .
you can try real time demo with level 2 quote .

You can test without charge real time
demo for currency fx by infinity,transact,
proactive .Platform is stable,commission some 3.25$ R/T .But they are all FCM


Yoour respectfully


P.S. Oanda alsov FCM and quote ,which
oanda offer through specific algoritm
is secondary .
 
traderguy23


no such thing as level 2 in spot
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Registr to demo by www.mbtrading.com

download navigator ,start level 2 windov and type
as example usd/jpy your would see some 10 best bid-ask
with volume of each bid and ask

Best wish ...
 
That is not a " true" level 2 bud. I am sure MB Trading is great, but there are plenty of better currenex type platforms with a lot more liquidity out there than MB.
 
That is not a " true" level 2 bud. I am sure MB Trading is great, but there are plenty of better currenex type platforms with a lot more liquidity out there than MB.
###########################

Yes ,very possibly ,but they are all FCM (trade against
client's interess from proprietary account)
Or ?

If that is case ,all advantage's would eliminated .

It is from romian law -pure agent from principal

Essentialy trade future fx better as spot for not B.Covner
volume operator .

Exist SEC broker's -pure agencie's ,which offer trading on future FX. After day ended ,you can switch funds to SEC account
(SIPC protected until 25 mln $)

1. MBT
2. Thinkorswim
3. RML /Integrity

Author have hade conflict with TOS ,this founder is ex-market-maker ,but company is pure agency
MBT will not accept author as client

RML offer different traditionaly future platform's


But if you are USA native ,you can try ....

Your respectfully

Currenex is very possible not pure agency -

State Street Completes Acquisition of Currenex
BOSTON – March 5, 2007 — State Street Corporation (NYSE: STT), the world’s leading provider of financial services to institutional investors, announced today that it has completed the closing of its acquisition of Currenex.
 
traderguy23


Are you telling me MB Trading is not an FCM?

http://www.nfa.futures.org/basicnet...id=0315389&rn=Y


Exist a statement from MBT in elitetrader ,where MBT
defined as pure agency.

You can ask MBT about trading from proprietary account .

If that is case ,than statement of MBT ( author can find this statement by ET ) before is lies .


Your respectfully

As example Trademaven answered to author -TM is FCM ,
traded from proprietary account and must report each
proprietary trade to CFTC .
 
In answer to the original question as to who's the best forex broker, not what's the best product, find a broker that's an ECN, not a MM. There are a few out there, IB is one. So is Hotspot. So is most Currenex. - not all, tho. Esp FXCM - they add pips to the spread. A true ECN does not make money on the spread but charges a commission.

MM's - FXCM, Gain, Oanda, GFT, just about anyone that has ubiquitous advertising on the numerous financial pages we visit daily. Go to FXStreet.com and click brokers. There are almost all MMs. They trade against you.

As to news traders, there is no ideal broker/platform to trade the news. Most noobs can't grasp the basic supply/demand curve of volatility during news events and would rather bitch. (read forex bastards to get an idea) Spreads will widen if there are no buyers/sellers. On an MM system, you won't get filled or system freezes (see FXCM and Oanda). On an ECN, market orders can be filled 40+pips from clicking mouse, pressing enter key. Slippage will still exist in futures market as well. It's just a fact of trading. If noobs can't grasp this, then they don't belong here and deserve to have their money taken.

That being said, I have been trading spot fx for over 2 yrs now and have gone thru quite a few brokers. Currently I divide my trading thru IB (gotta love the universal account, but platform still needs lotsa work. Spreads are tight and cost is $4/100k, or less than a pip spread and crosses can be difficult to trade/get filled) and HotspotFx, which charges 6/100k. Both brokers will not let you have leverage greater than 50:1, and you shouldn't have greater anyway. Those with more leverage blow up their accounts. I am content with either, although I have found IB's spreads to be tighter.

If you are going to trade spot fx exclusively, in my opinion, go with the hotspot, better platform, but limited stops. If you want to trade fx futures and hedge with spot as I tend to do, go with IB.

BTW, it's MarketMaker (MM) not Futures Commission Merchant (FCM) 2 different animals.

Again, just my opinion based on experience.
 
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