Broker and Platform

nexx · Apr 7, 2008

Im trying to pick a broker I want to stick with for my first Forex Account but from the overall reviews almost 99% of the brokers out there don't have a positive review over 50% so I realize there all bucket shops, now im trying to pick the "Better Bucket Shop".

Im currently looking at

Tradeview Forex - 50 mil net cap

FXCM - 82 mil net cap

Interbank FX - 22 mil net cap

I selected these 3 because TVF & IBFX use MT4 which i like that its easy to use, FXCM charting is ok but not the best.

I didn't go with Oanda because i simply dont like the java platform or there charting.

So out of the 3 I am looking at which one do you guys think its the better bucketshop to trade with?

Also I see that people say stay away from broker with MT4 but I don't believe that every person that trades with MT4 if flat out broke without profitable trades. and i tend to enjoy the MT4 platform.

PrivateTrader · Apr 8, 2008

I am not here to promote Dukascopy, but rather invite anyone. I recommend to use Dukascopy.

regards
FxManager.info

scexglobal · Apr 9, 2008

But you are an IB for Dukascopy. ;-)

However, I concur with that. You should at least try their demo at http://www.dukascopy.com/swiss/english/forex/demo_fx_account/

Also, give them a call and you'll see that you are dealing with a different group than you usually would.

orange_trad · Apr 9, 2008

People say stay away from MT4 brokers because MT4 has built-in front running, manual execution, price adjustment capabilities. Check out MT4's "Virtual Dealer" plug-in. Do a search on this board. You should think about what you read. BTW if you need more charting capabilities than what the simplest, most basic platform offers, you're better off spending your money in Vegas.

cabletrader · Apr 9, 2008

Quote from orange_trad:

People say stay away from MT4 brokers because MT4 has built-in front running, manual execution, price adjustment capabilities.

Not unique to MT4 brokers, every broker can have similar software and options if they really want them.

orange_trad · Apr 9, 2008

Quote from cabletrader:

Not unique to MT4 brokers, every broker can have similar software and options if they really want them.

That's true, but MT4 does have it, whereas others' are still to be proved. I like to use a platform that's not proved to be using despicable methods. I heard a lot of rap about Oanda for example, but nobody could ever prove anything, so they still have my benefit of the doubt.

cabletrader · Apr 9, 2008

Quote from orange_trad:

That's true, but MT4 does have it, whereas others' are still to be proved. I like to use a platform that's not proved to be using despicable methods. I heard a lot of rap about Oanda for example, but nobody could ever prove anything, so they still have my benefit of the doubt.

No argument here, Oanda had a bad spell but they seem to have sorted themselves out now.....hopefully it will last!

DanaBTRFX · Apr 17, 2008

every broker can adjust prices, no matter what platform. plus the plugin for mt4 is old news. the only way to really win in the forex market is be a good trader and not be greedy. MONEY MANAGEMENT. and don't swing at the market with all of your equity.

normaldude · Jul 12, 2009

Quote from orange_trad:

People say stay away from MT4 brokers because MT4 has built-in front running, manual execution, price adjustment capabilities. Check out MT4's "Virtual Dealer" plug-in. Do a search on this board. You should think about what you read. BTW if you need more charting capabilities than what the simplest, most basic platform offers, you're better off spending your money in Vegas.

Introduction
Virtual Dealer Plugin is intended for full or partial emulation of the dealer's actions for symbol groups with manual execution.
The plugin implements the following features:

1. Confirmation of the clients' requests with regulated execution delay up to 5 seconds and recheck of Limit & Stop Level
and Freeze Level.
2. Processing of pending orders activations, Stops triggerings, and stopouts.
3. Confirmation of requests on stream prices (Instant Execution) with adjustable permitted slippage.
4. Watching symbol gaps, during which pending orders BUY STOP and SELL STOP and stops of open positions are
activated not at the client's requested price, but at the gap price.
5. Automated moving up the Limit & Stop Level and Freeze Level according to the preset list of news time.
6. Disabling (setting, modifying, deletion) of pending orders during news receiving.
7. Working in parallel with real dealers. In this mode, only those requests are processed the volumes of which do not
exceed the preset level.

<img src="http://tradgo.com/media/images/sharingImages/449.png">

Description Virtual Dealer Plug-in Metatrader