Most Respected and Reliable Forex Broker

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Vespasian

I'm looking to test out "live" a new forex strategy and I was interested in opinions on the best broker / feed.

I'm looking for one that follows the interbank market the closest.

My research so far = Interactive brokers and FXCM but open to all suggestions if backed up with facts.

Thanks
 
Depends on where you are.

IB is a far cry from FXCM. They shouldn't be used in the same sentence. IB is STP, ECN style system with spreads of as little as .1 pips. Plus, your cash funds are SIPC insured. Most (any?) fx brokers are not.

For institutional level trading, look at HotspotFXi. You can get started with less than 50K or less if you go thru a broker like Advantage Futures.

Unless you are talking about having a few mill to do this with and get bank credit, these then are both very good.

Dukas appears to offer a decent platform, but when asked about using Swiss banking to hold funds, never given the info asked. If they offer Swiss bank custodial for funding your trading account, why not provide the necessary info to go forward.

CME futures, as mentioned, are also a good way to go forward. Plenty of liquidity on thestandard contracts. Still too little volume on the CME micro lots.
 
Quote from Pippi436:

Did IB go from quoting in 0.5 pip increments to 0.1 pip increments?
More...

no, still 0.5pip for EUR/USD and USD/JPY at most of time. not all the time.
 
Quote from Pippi436:

Did IB go from quoting in 0.5 pip increments to 0.1 pip increments?
More...

Typo.

.1 pip spread meant for HotspotFXi platform

IB still quotes in at times .5 spreads for EUR and JPY vs USD, (sometimes you may see zero spread but if you know how IB quotes spot, it really doesn't mean anything and a zero spread is not tradeable). IB has the feature on the TWS to take the quote deeper, but they don't.

My bad.
 
Whats the minimum account size at hotspot and dukascpy? I don't thing i will trust a Swiss broker unless its a bank. I remember hotspot fx used to be 15k but it may have increased as this was yrs ago.
 
Quote from cstfx:


For institutional level trading, look at HotspotFXi. You can get started with less than 50K or less if you go thru a broker like Advantage Futures.

Unless you are talking about having a few mill to do this with and get bank credit, these then are both very good.
More...


What is the minimum account size, commission, spreads, and leverage offered through Advantage Futures for Cash FX? Their website gives no useful information regarding this...
 
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