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Thread: Could someone recommend an honest broker?

  1. #1
    Fantastic day ladies gentlemen,
    I am a newcomer in the Forex market, and I set up my mind into opening a real account, and I am asking for your help -- to whom if I lose my money?

    Just joking, it's just that I am very aware to how this learning experience will probably cost me a great fee.

    My preferences are:

    1. No IB's, I would like to trade directly to the broker (limiting the working desks which may deal against me). Moreover precedence will be given for ECN's. I've got something against market maker brokers...

    2. Trading via internet using MetaTrader4 (because of my indiors and EA).

    3. Working 24/7 (Thus no local companies, if you please), together with FAST executions -- operating on the 15M time frame means that I require a fast automatic broker. It is a little plus if the broker has an office in my time zone (GMT 2).

    4. lt;? Xml:namespace prefix = st1 ns = urn:schemas-microsoft-com:office:smarttags /gt;lt;st1lace w:st=ongt;Lot lt;/st1lacegt; and minimum trade size -- I want to start a mini account, a micro account will probably be better. So the smaller the better.

    5. Accept overnight (rollover) trading (I generally work on the 15M 4H time frames( the latter tend to slip towards another day).

    6. Steady quotes. I really don't want those fast fluctuations of the quote (aka slippage) that occurs with some brokers with no correlation to the market, largely if they ch my SL.

    7. Commissions, minimal deposit, margin spreads and demand -- the lower the better. Need I explain?

    8. Trading these pairs: USD, GBP, EUR, CHF, JPY, AUD, and CAD.

    9. I would prefer to get a regulated broker, and that my money is going to be insured from obvious explanations.

    lt;? Xml:namespace prefix = o ns = urn:schemas-microsoft-com:office:office /gt;lt;ogt;lt;/ogt;

    Do you believe I got it all? What did I miss?

    Lt;ogt;lt;/ogt;

    Please specify on your replay: Title of broker. Website. WHY did you pick him? Which criteria does he fit (I will probably won't find the ideal broker, but I will settle for the best there is.) . Lt;ogt;lt;/ogt;
    Thanks in anticipation,

    CRE666.

  2. #2
    Quote Originally Posted by ;
    For starters roughly 2000$.
    Thats the amount of money I will lose without losing sleep on it.
    You've really no other choice but to begin at a retail market maker sorry.

    turbo

  3. #3
    Thanks....
    Are IB brokers something we ought to be concerned with?
    Should we prevent them?
    How do we know if a broker IS an IB broker?

    Thanks again...

  4. #4
    for real ?
    How did you get that?
    Quote Originally Posted by ;
    Thread is 7 years old. I think he might figured out that there is no fair broker by now

  5. #5
    Hey this depends upon how much capital you plan to put up.


    turbo

  6. #6
    Quote Originally Posted by ;
    Hey this depends on how much funds you intend to put up.
    Turbo
    For starters about 2000$.
    Thats the amount of money I will lose without losing sleep on it.

  7. #7
    Quote Originally Posted by ;
    You have no other choice but to start at a retail market maker sorry.
    Turbo
    so that I'll start at the bottom and work my way up.
    I stated I preferr to not work with market makers, however if I will have to, at least I won't work with an IB, therefore I won't have two desks to deal through.

    Who would you recomend?

  8. #8
    Quote Originally Posted by ;
    So I'll begin at the bottom and work my way up.
    I said I preferr not to work with market makers, however if I'll need to, at the least I will not operate with an IB, so I will not have two desks to cope through.

    Who'd you recomend?
    Well if you moved threw an IB you would not need to cope w/ two desk. . They just get credit for introuduing you to the FCM. Then the FCM provides them normaly 8 to 10 for each 100,000 traded by you.

    Here a little secret if you desire tigher spreads at just about any reatail store. . Open upward and IB w/ them and then your spreads will be about one pip tighter. . .lol

  9. #9
    Most IB's return rebates to their customers which can be approximately 1/2 to 1 pip each trade. I dont know about you, but I would take any day every time.

    Quote Originally Posted by ;
    So I will start at the bottom and work my way up.
    I stated I preferr to not function with market makers, however if I will have to, at the least I will not work with an IB, so I will not have 2 desks to cope through.

    Who'd you recomend?

  10. #10
    I'm new to this site, and quite new to 4X.
    I looked all over, and I could not determine what an IB broker would be.
    Can someone help me out with this?

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