Planning to Switch out from Fxcm!! Where do i go?

Quote from cryptic:

p.s: FXCM rep Jason Rogers do you know if FXCM active trader is open to US residents also on a limit order to buy does the ask price has to get there, for your trade to be assigned to you & vice versa? [/B]
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Yes, active trader is open to US residents. Here's the page on the US website where US residents would go through http://www.fxcm.com/active-trader.jsp .

For limit orders to buy, the ask price would need to cross your limit price in order for the order to go into execution. Using a limit order would also give you the opportunity to experience price improvement.

-Jason
 
Quote from cryptic:

After opening the account For Example GBP/JPY BID/ASK is at .4510 / .4790 and i place a limit order to buy GBP/JPY ast .4520 on the order flow i will see my order get execute. The reason i know it was my order because on six different occasion i would change the size of the order 1 mini 2 mini 3 mini something random. Although the order is executed on my pending window it will show pending, and will not get assigned to me until the ASK moves to my price .4520 and then it will get assigned to me.
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Price improvement on retail FX ECNs is possible but it's rare. You'll typically only be filled if another retail client's order fills you. Price improvement by trading within the spread is probably more commonplace on the institutional ECN platforms.

Either way at the end of the day, you have to pay the spread in most instances, so find a venue with low spreads/commissions & good executions.
 
Quote from Trader KGB:

Price improvement on retail FX ECNs is possible but it's rare. You'll typically only be filled if another retail client's order fills you. Price improvement by trading within the spread is probably more commonplace on the institutional ECN platforms.

Either way at the end of the day, you have to pay the spread in most instances, so find a venue with low spreads/commissions & good executions.
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Thanks KGB, i been with Oanda for past 1 week, and i am very happy. No complaints so far.
 
Quote from cryptic:



Is there any broker with ECN model that charges commission only and allows you to be trade between spreads? My trading background is futures/equities in that market best bid/ask always wins and i pay flat commission but with MBTrading forex not only i pay commission but also spreads.

Thanks.

p.s: FXCM rep Jason Rogers do you know if FXCM active trader is open to US residents also on a limit order to buy does the ask price has to get there, for your trade to be assigned to you & vice versa?
More...

Interactive Brokers
 
the only two decent places I know are oanda and Interactivebrokers. Beware though IB can have quite some slippage at times even in euro, oanda opens up its spreads around newstimes so you better beware of the important one. (go to forexfactory to know them). Personally I am with oanda after having paid tons of commissions at IB. I don't think there is a better one out there ...
 
cashback rebates! now there is a thing: they charge you 3 pips and give you 0.70 pip back in rebate. Like a friend said: perfect for idiots that can't count rofl.
 
So i am trying to decide between IB, Oanda and MBtrading.

For EUR/USD, the spreads as of now (8:04 PST on 4/20) seem to be:
Oanda - 1.2
IB - 0.5
MBT - 0.8

Is Oanda still the best? why?

I have never traded forex before; so just trying to understand.
 
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