Decent Brokers during High Market Volatility

S

sccz97

I'm looking to sign up to a new broker and have come across a few that on the surface look like they meet my requirements. I book most my trades in a fast market so need a broker with more flexibility wrt to how it handles trades during high market vol. Also, speed at which trade is accepeted and confirmed is very important.

The few that I'm looking at are:
1. IB
2. SaxoBank
3. FXTrade.net
4. CMS-Forex

The reasons for my initila selection of these are as follows
IB
--
1. Relatively good comments from the users here on ET.
2. API allowing me greater control and decision making during fast-moving markets.
3. However I'm unsuse as to why commission is charge on forex .. isn't the spread enough?

Saxo
------
1. Recommended on a few large web sites.
2. Good spreads
3. High autoexecute notional (i don't want the trade delayed via dealer intervention)

FXTrade.NET
----------------
1. 2 pip spread on majors
2. 500:1 margin
3. No slippage on market orders
4.

Seems too good to be true frankly and
 
I'm looking to sign up to a new broker and have come across a few that on the surface look like they meet my requirements. I book most my trades in a fast market so need a broker with more flexibility wrt to how it handles trades during high market vol. Also, speed at which trade is accepeted and confirmed is very important.

The few that I'm looking at are:
1. IB
2. SaxoBank
3. FXTrade.net
4. CMS-Forex

The reasons for my initila selection of these are as follows
IB
--
1. Relatively good comments from the users here on ET.
2. API allowing me greater control and decision making during fast-moving markets.

However I'm unsuse as to why commission is charge on forex .. isn't the spread enough?

Saxo
------
1. Recommended on a few large web sites.
2. Good spreads
3. High autoexecute notional (i don't want the trade delayed via dealer intervention)

FXTrade.NET
----------------
1. 2 pip spread on majors
2. 500:1 margin
3. No slippage on market orders
4. No trade rejections in fast market

Seems too good to be true frankly and I can find nothing else about them on the internet.

CMS-Forex
-------------
1. Huge benefits for my stiyle of trading througth the abilityt to provide a "trader's range" where you can specify a further spread on top of the normal spread that will enable the trade to be filled if the market has since moved once order is receive

If anyone can provide me informationon any of these brokers or perhaps suggest another that would be suitable I would be grateful. To summarise the above I'm looking for a broker that will essentially have no problem pushing through >£1M notional trade, whether that be due to great execution or allowing user defined slippage ranges etc.

Any comments welcome.
 
Quote from sccz97:



FXTrade.NET
----------------
1. 2 pip spread on majors
2. 500:1 margin
3. No slippage on market orders
More...

I don't think it can be much better than that...
 
Yup, that's what I thought as well, but I 've never heard of them and neither have any of my friends and colleagues. I'm unwilling to open an account and deposit funds with them for fear of them running off!
 
Quote from sccz97:

Yup, that's what I thought as well, but I 've never heard of them and neither have any of my friends and colleagues. I'm unwilling to open an account and deposit funds with them for fear of them running off!
More...

Don't trust russian brokers?
 
I'll answer you on the commission for IB.

IB does not take the other side of the trade as major banks (and other clients) are the market. Thus what you see is what you get. During fast markets, you'll get the true interbank rate and will actually be able to trade on the prices displayed.

For a more detailed info see the post by IBj on this page:

http://elitetrader.com/vb/showthread.php?s=&postid=522920#post522920

(also, you should see a drop in the minimum commission per FX trade within a week or so).
 
def


does ib start the 23 or 24 hrs trading yet ? and does the margin come down to 50:1 also ? if both question is yes , then i will open an ib account .


thanks

168
 
Quote from def:

I'll answer you on the commission for IB.

IB does not take the other side of the trade as major banks (and other clients) are the market. Thus what you see is what you get. During fast markets, you'll get the true interbank rate and will actually be able to trade on the prices displayed.

For a more detailed info see the post by IBj on this page:

http://elitetrader.com/vb/showthread.php?s=&postid=522920#post522920

(also, you should see a drop in the minimum commission per FX trade within a week or so).
More...

def, your reply is very encouraging. However, there is one thing that I'd like to clarify. For me, during a fast moving market, it is essential that I get filled on a trade and I am more than willing for this to happen at the 'new' market level if it has since changed (to within a certain tolerance of course). Is this something that IB can do or perhaps something that is in the pipeline?
 
Quote from 168:

def


does ib start the 23 or 24 hrs trading yet ? and does the margin come down to 50:1 also ? if both question is yes , then i will open an ib account .


thanks

168
More...

the move to 50% should happen this week. 23 hours is currently available.
 
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