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> Good Forex Broker
alanmorgan
post Apr 17 2009, 13:27
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I selected some points which you must keep in mind while selecting a good broker:
-Comparing FX trading brokers
-Average offered
-Minimum deposit required
-Amount/type of commissions charged
-Spreads for major currencies
-Availability of mini Forex accounts
-Availability and quality of demo currency trading account
-Number of currency pairs offered
-Try demo accounts
-See the demerits of the broker as well...
-Well all you need to select a broker which suits your trading style
-For an example I always look for scalping and not all the brokers
nancy.john93@yah...
post Jul 7 2009, 10:58
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Good points covered alanmorgan I would like to add one more- the bonuses and offers at the time of joining" Getting a Welcome Bonus".what do you say about it? I got it at the time of joining Avafx and recently I got the mail that on opening the account with $200 they are giving the bonus of $100. Just need to send the code AVAQZ12 to them.

I would like to add All of us are aware that choosing a good broker is a critical task but not impossible. To the extent it depends on your own criterion and considerations. Opening a brokerage account is a decision that should be well-researched. You won't know whether to choose a discount or traditional broker until evaluating your investing experience, net worth and personality.

Good Luck and have a happy trading!!!!
cooltrader
post Jul 8 2009, 2:55
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Hey ,

I think u should try out WSD as they are meet with all your requirements and i have been trading on their Meta trader4 (MT4) platform which is user friendly which enhances trading abilities with its variety of charting tools.

They are also regulated which ensures that your funds will be put into segregate client accounts which ensures safety of funds...

good spreads ranging from 0.5 to 5 pips, no commissions ...so go ahead and try their demo platform to test your trading stratergies biggrin.gif
Arnaud
post Jul 8 2009, 7:01
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QUOTE (nancy.john93@yahoo.in @ Jul 7 2009, 10:58) *
Good points covered alanmorgan I would like to add one more- the bonuses and offers at the time of joining" Getting a Welcome Bonus".


I think cashback on forex trade is better. A lot of websites offer this solution
http://www.fxstreet.com/brokers/rebate-sharing/
aliyah brown
post Jul 8 2009, 20:34
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That is pretty good list!
I would add regulation and registration…specially now with all the problems with NFA and US brokers..

I trade with a Swiss broker (ac-markets) and they regulated by FINMA and ISO 27001/ ISO 9001 certified… and think that says a lot.
Regards!!

PS: I’m new at the forum, so welcome to me hehehe
nancy.john93@yah...
post Jul 13 2009, 12:54
Post


QUOTE (alanmorgan @ Apr 17 2009, 13:27) *
I selected some points which you must keep in mind while selecting a good broker:
-Comparing FX trading brokers
-Average offered
-Minimum deposit required
-Amount/type of commissions charged
-Spreads for major currencies
-Availability of mini Forex accounts
-Availability and quality of demo currency trading account
-Number of currency pairs offered
-Try demo accounts
-See the demerits of the broker as well...
-Well all you need to select a broker which suits your trading style
-For an example I always look for scalping and not all the brokers

Most of the brokers doesn't allow scalping. By scalping I mean holding a position for less than 1 minute. I also scalp and my broker Avafx allow me to that.
aliyah brown
post Jul 13 2009, 20:55
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I only do scalping during news releases, and so far I’ve had no problems. I mean, no complains from ACM or re quotes when closing the orders…
nancy.john93@yah...
post Jul 14 2009, 13:55
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Scalping together with the breakout strategyat the time of news release is a good strategy usually before a major news release. During these market times the currency pair usually stay in a tight consolidation pattern ranging between 30-40 pips. This provides the perfect opportunity to put on a breakout trade just above or below the current resistance or support points.
aliyah brown
post Jul 15 2009, 20:16
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Hey Nancy again!
Do you scalp during news as well?
I definitely agree with you smile.gif

I’m not a regular scalper, I don’t see it as a profitable way of trading, and it doesn’t take that much strategy, I mean you open the computer, more or less see where the currency pair is heading and enter for 20 seconds are get out. There are some situations when I think scalping is the right choice, but not as a trading strategy..
Regrds!
nancy.john93@yah...
post Jul 17 2009, 12:03
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QUOTE (aliyah brown @ Jul 15 2009, 20:16) *
Hey Nancy again!
Do you scalp during news as well?
I definitely agree with you smile.gif

I’m not a regular scalper, I don’t see it as a profitable way of trading, and it doesn’t take that much strategy, I mean you open the computer, more or less see where the currency pair is heading and enter for 20 seconds are get out. There are some situations when I think scalping is the right choice, but not as a trading strategy..
Regrds!

Yes aliyah I scalp at news releases, same you do as you mentioned in your earlier post. I agree with you aliyah that there are some situations scalping is the right choice, but may not to be use always as a trading strategy..There are some situations when I think scalping is the right choice, but not as a trading strategy..though forex scalping may seem like a preverbal “holy grail” at first glance, there are still many unseen hurdles that surround the controversial method of trading.
aliyah brown
post Jul 17 2009, 20:38
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I think so too, many traders use scalping strategies because they think they are more in control of the situation, but at the end is not the best way to trade!!!
I haven’t had any problems with ACM regarding scalping, they allowed it; but there are some brokers that don’t allow it and can widen the spreads for those traders who do.
More over, it doesn’t help you to become a better trader and understand the currency pairs; you just see a tiny peace of its movement.
Ciao!
MDunleavy
post Jul 26 2009, 10:24
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I've found good explanation how to select the right metatrader 4 brokerage firm. I think, this info would be interesting for all forex traders. I use scalping strategies and I had to change a lot of brokers before I found this information. See iticsoftware.com.
(How to select right FOREX brokerage firm for you strategy: scalping, hedging etc.)
fxdime
post Jul 29 2009, 12:28
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For me there are more important things in one broker than allowing scalping although my broker Deltastock allows it. I just don't think that this is very profitable strategy and I would prefer to trade mid and long term.
aliyah brown
post Jul 29 2009, 20:37
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I agree! I already said above that regulation and registration is the most important thing when trusting a broker with your money.

You should find as much information as you can about a forex broker before opening an account with them. This is why I always suggest picking a well-know broker, you’ll be able to find more info about them rather than a small broker.
What made me decide for my broker was that they won as Best forex online Broker in the Middle East Banking wards for two years on a road and as best trading platform. If they are good to win those prestigious awards they are good for me smile.gif
swinger
post Sep 15 2009, 15:21
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Hi

Agree with you . So you are actually trading with Deltastock? Are their spread really fixed. And also how is their execution on volatile market. At same places I was told when the market start moving the spreads widen up even 20p or more. I can't believe it. Do you trade positions or you scalp. I would stay in positions for as long as I can sometimes days. But I like action so when market gets active I would go very small in and out for up to few mins. Doesn't pay it all goes to the broker but I want to let some steam out so I can wait and sit. Sitting makes the money right?
addyson
post Nov 9 2009, 19:33
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Yeah keep in mind that, in my opinion keeping an overnight position is not worth. Intraday traders are more profitable, I think forex is much to volatile as to be able to predict more than a day
lingsbord
post Nov 17 2009, 21:55
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I'm with Osiris FX.

They have a loyalty bonus scheme that rewards traders with kickbacks from the spread, and they have a free iPOD Touch offer at the moment too. The demo is great and I'll be going live very soon. Most MT4 EAs run on it too. hedging, scalping OK and they have no dealing desk, everything is STP. They are BVI based with banking at Barclays Seychelles but all funds are auto-routed to Bank of America segregated accounts.

All looks good, will let you know!

aliyah....ACM are a very good broker, but they do have a dealing desk, which means they make more money if you lose!....always go for a non-dealing desk broker because they need you to win and stay with them for their business model to work.

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