I haven't read good reviews about any Forex brokers

Discussion in 'Forex Brokers' started by 1a2b3cppp, Mar 13, 2009.

  1. Mini lots, no micro that I could see, plus they're an MT4 bucketshop
     
    #21     Mar 13, 2009
  2. Re: Futures - futures are great but not everyone is capitalized enough to trade futures. But I agree that for taxes and for being free from BS (ie they have low commissions and tight spreads), they cannot be beat.

    Are there any Forex ECNs that let you trade $0.01 per pip?

    I've used an Oanda demo many times and I do not like the platform. I love OEC's platform but their Forex sucks (GAIN) and they only go as low as $1/pip. I am really looking for $0.01/pip for right now.
     
    #22     Mar 13, 2009
  3. [​IMG]
     
    #23     Mar 14, 2009
  4. IluvVol

    IluvVol

    Buddy, i have done that very same exercise you suggest. Fact is

    a) IB is almost spot on with EBS (Bloomberg) and Reuters fx feeds.

    b) Oanda spiked sometimes by an extra 50-100 pips during unexpected news events.

    PLUS Oanda still fails me several times and that on a daily basis. Quite unreliable. True, IB is not the most user friendly/intuitive trade input platform but if you need handholding like kids then you should maybe really look at Oanda and the likes that advertise by equating success with the capability to trade off charts.....


     
    #24     Mar 14, 2009
  5. IluvVol

    IluvVol

    NO THEY ARE NOT, they use MT4 but their feed is an ECN feed. DUDE, you really should do some more research before you drop such ill-researched bombs.....come on.....


     
    #25     Mar 14, 2009
  6. kon.P

    kon.P

    I trade forex spot with IB and Ninzatrader almost a year now...
    works perfectly...i love to trade from the chart and see-manage my orders on it.

    regards
    Kon
     
    #26     Mar 14, 2009
  7. lol, I wouldn't trust any MT4 bucketshop, period, no matter what their sales pitch!
     
    #27     Mar 14, 2009
  8. Funny, I rarely get disconnected any more. Sure they had problems a while back but for the past >6 months things have been fine.

    If you were seeing spikes of "50-100 pips during unexpected news events" on Oanda but not on Reuters then you should have taken advantage of the obvious arb opportunity. Spikes on unexpected news events or economic data aren't unusual in the market though, in fact it would be a surprise not to see some, are you sure there weren't any? What was the actual news event? Maybe you got disconnected from Reuters like you do from Oanda!

    I can't see the point in trading on a platform I don't like when I can trade on one I do like, especially when they're comparable for everything else. Like I said before Oanda suit me just fine in pretty much every respect. I don't use their charts but I imagine being able to trade off a chart would be extremely useful, but maybe not impressive or realistic enough for those who want to play big City trader :D

    Another important benefit of trading with Oanda is the ability to place and/or manage trades over the weekend. Look at the events that occur over a weekend, Iraq, Saddam, G20....just to name a few.
     
    #28     Mar 14, 2009
  9. I think this statement sums the title of the thread up well. Almost every forex trader has tried a bunch of forex shops in the past (i.e. greater than 6 months ago and had some type of issue - like software, quotes freezing, customer service, etc...) But some of the issues that the trader had, don't exist anymore. i.e. above post. I personally think if someone hasn't used a broker in over a year then they should not comment. Just my .02.

    BTW, I think the forex shops are getting better not worse....
     
    #29     Mar 14, 2009
  10. I have had several disconnects with Oanda in the last few days. Execution has been slow a couple times. This has happened before, and has cleared up on its' own. More often now, I chart with Metatrader and execute through Oanda, (3 hour chart? weird)as I don't yet trade full 100k lots. At some point, I expect an issue will arise where I will feel slighted. This can happen with any broker, whether electronic or by phone, but I'll worry about it when the time comes.
     
    #30     Mar 14, 2009