please reccomend a good broker

chrisbliss

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Hi!
Im trying to find a good broker who doesnt try to rip me off,
they MUST have direct market access
I been looking at IB little but their software sux
I will be day trading Forex and or maybe CFDs
 
sorry but DMA for forex and CFD?

maybe currenex or duka for forex but CFD are OTC?

and actually DMA means no broker just clearer right?
 
not sure if they are OTC? only that CFDs are forbidden in US, but yes,
meaning my order will go right into the market with no middlehand trying to rip me off
I want transparent orders with no slippage or hidden fee's, no bucket shops,
 
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is that Duka site for real? that teddybear doesn't make it look very serious, and the button "contact me"? is this a one man company or what? lol :) but it does say they use DMA so who knows? has anyone had experience with Duka?
 
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Hi!
Im trying to find a good broker who doesnt try to rip me off,
they MUST have direct market access
I been looking at IB little but their software sux
I will be day trading Forex and or maybe CFDs

Youre best trading on lava or currenex for FX then. All retail FX brokers will take your eyes out as they are your counter party.
 
Right!, I hate retail brokers, thief *******s! may they rot in hell! anyway, I finally found a good one, ATC Brokers, they are true ECN and no conflict of interest, only downside is the minimum deposit of 2500 US, I think, PFGBEST seem good to but same there
 
anyone got any experience with alpari? i have demo accounts with them for backtesting but im thinking of using them for live, can anyone provide any experiences of using them?
 
look here http://www.broker-review.com/alpari-us/
they don't have a good reputation if you search the forums in the web

the true forex brokers are a little more expensive but if you ask me, it's worth every penny.
because you can be sure they don't try to rip you off and your money is safe,
the lowest deposit real ECN broker I found out is MB Trading minimum deposit is 400US
 
I second that, PFGBEST I send them a letter recently and just got reply, they said they dont't have a limit, but they recommend 1000, they are a real ECN too and the biggest broker in US, I think I will be signing up with them my self
 
I second that, PFGBEST I send them a letter recently and just got reply, they said they dont't have a limit, but they recommend 1000, they are a real ECN too and the biggest broker in US, I think I will be signing up with them my self

thanks chris, i have come across the negative comments regarding alpari and especially dont like the market maker status of them.

i will look into MB trading and PFGbest and see what they're like!

thanks for your help!
 
just a bit of an update, i looked into both mb trading and pfgbest and there are a couple of issues:

both companies are based in USA. whilst i'm happy to use states based brokers, are there any UK brokers that anyone can recommend for the afforded protection of the FSA in the event of bankruptcy of the broker?

PFGbest seems very large and popular out in the states but doesnt seem to support Metatrader 4 and rather they have their own software?

does anyone or chris, have any input or recommendations more UK based ideally with DMA?

much appreciated
 
you know I live in Europe and I would love to sign up with a real ecn in Europe, but sorry to say, I haven't been able to find one, they all seem to be bucketshops:( exept Dukascopy, yeah sure there are alot of ECNs around here too but they are also Market Makers :( every single one of them, and I wouldn't trust them to hold 1 bux of my money, if someone knows one, please PM me! and believe me, I have not been lazy searching! yes both companys are in the US, both MB and PFGBEST have MT4, I know that for a fact, Im testing both their Demos right now:) and I believe Dukascopy also have it. and I think you can get Currenex with all 3 of them. the downside with these US brokers is(if there are one) the signups with all US and Dukascopy can be a bit of a hassle, you need to fill in some docs and use bank wire, send in your ID and such, first I thought Oh damn whata mess! I really dont know why they can't have creditcard transfer, it would be so much easyer, but if you think about it, it's actually good, they wan't to make sure everything is in order. and if we wan't a real broker as I see it, it's probably worth it, we must go to the bank and wait a week, but whata hell, if I can get a real broker then so be it, further I found out PFGBEST have really good liquidity, some of the banks are Goldman Sacs, JP Morgan, I don't think we will have a problem get insta filled there, MB seem to have a little problem with liquidity right now, so for that PFGbest goes up a step
 
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I just found out another advantage signing up with a Us broker and a big one, you dont have to pay tax :p they will certanly not send anyithing to my athorities in europe, hehe :)
 
I just found out another advantage signing up with a Us broker and a big one, you dont have to pay tax :p they will certanly not send anyithing to my athorities in europe, hehe :)

lol, i dont believe that in the UK we need to pay tax either on trading? hopefully someone can confirm that?

yeah, i just read about ODL in the papers and they have no dealing desk execution but i've heard mixed reports(mostly negative) about them, can anyone provide feedback/experiences there?

wrt PFGbest, i dont doubt that they are a good broker although their site looks a bit amateur compared with MB. :confused:

im going to try hunt for direct market access brokers...will update in due course!
 
yeah they are a market maker with ecn stp, I have been checking them out too, but I just don't trust a broker who cheat their clients on one side and on the other side they are suddenly perfectly honest, like normal MM acount vs ECN acount under one flag, I think they offer both type, as I see it they are either honest or not
http://www.broker-review.com/
 
so far, very difficult to find a pure ECN broker based here in the uk that doesnt have NDD execution apart from ODL which upon reading further has had some very poor reviews...you mentioned that alpari is a market maker, it seems that it is the case for accounts<20k but for accounts >20k they act as NDD...!

the search continues....
 
well, i've found one which is called hantec markets, www.hantecfx.com which seems to offer NDD with no requotes. their spreads for eur/usd is 1.8 and they confirmed that they do not trade against the trader and do not act as market makers.

i will shortly be setting up live with them but on demo trading, its been seamless so far.
 
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