Day Trading Broker

This is a discussion on Day Trading Broker within the Discretionary Trading forums, part of the Methods category; Hi guys. I'm wondering who would be the best broker to day trade CFD's with? At the moment i've got ...

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Old Jun 5, 2007, 12:02pm   #1
Joined Jun 2007
Day Trading Broker

Hi guys.

I'm wondering who would be the best broker to day trade CFD's with?

At the moment i've got a demo account with GCI (http://www.gcitrading.com/) but i have read that GCI are not trustworthy. They seem fine to me but i'm not experienced in this field.

Can anyone point me in the direction of a good broker?

What i'm looking for..

To start an account for less than $1000 USD.
To have low or zero commisions (i dont mind if they have overnight commisions)
Good software with good charting abilities.

I live in the UK so i want a broker who isnt purely US based (and therefore hard to contact etc..)

Any advice would be great.

Thanks guys

-Mike-
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Old Jun 5, 2007, 3:59pm   #2
 
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check out GNI?...
http://www.gnitouch.com/
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Old Jun 6, 2007, 1:10am   #3
 
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I trade CFD's with the Aussie arm of IGMarkets, I believe they are a UK company, at least listed on the exchange there anyway, I think they have 0.1% commisions, they have a newer browser based charting package which is better than it was and have Level 2 available if that is your thing (it isn't mine).

http://www.igmarkets.com/

Best of luck
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Old Jun 17, 2007, 11:35am   #4
 
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Joined Jun 2007
Quote:
Originally Posted by Nonameo View Post
Hi guys.

I'm wondering who would be the best broker to day trade CFD's with?

At the moment i've got a demo account with GCI (http://www.gcitrading.com/) but i have read that GCI are not trustworthy. They seem fine to me but i'm not experienced in this field.

Can anyone point me in the direction of a good broker?

What i'm looking for..

To start an account for less than $1000 USD.
To have low or zero commisions (i dont mind if they have overnight commisions)
Good software with good charting abilities.

Any advice would be great.

-Mike-
Mike
The no commissions CFDs are not a great way to day trade.
Have a look at this article on my blog to see what you are up against.

http://tremblinghandtrader.typepad.c...al_cost_o.html

Paying the two or more point spread with "free brokerage" is more expensive that trading directly the futures and paying brokerage. They may be a good way to dip your toe in the market because you can take a smaller position than the underling future instrument but thatís it. You are not getting anything FREE. Feel free to email to ask any questions.
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Old Nov 11, 2008, 6:26pm   #5
 
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Joined Oct 2008
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Originally Posted by Trembling Hand View Post
Mike
The no commissions CFDs are not a great way to day trade.
Have a look at this article on my blog to see what you are up against.

Trembling Hand Trader: The real cost of free CFD brokerage

Paying the two or more point spread with "free brokerage" is more expensive that trading directly the futures and paying brokerage. They may be a good way to dip your toe in the market because you can take a smaller position than the underling future instrument but thatís it. You are not getting anything FREE. Feel free to email to ask any questions.
I'm pretty stuck on Forex Currency Exchange Have been doing very well with them for awhile now. They offer Forex Mini Accounts Start Trading With $10 | Forex Currency Exchange , although it is better to begin with a bit more than that in order to see bigger and faster profit.

The help and videos are absolutely great. You just can't beat it... from other places I have checked out.
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Old Nov 11, 2008, 10:38pm   #6
Joined Jun 2008
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Originally Posted by OneDavid View Post
I'm pretty stuck on Forex Currency Exchange Have been doing very well with them for awhile now. They offer Forex Mini Accounts Start Trading With $10 | Forex Currency Exchange , although it is better to begin with a bit more than that in order to see bigger and faster profit.

The help and videos are absolutely great. You just can't beat it... from other places I have checked out.
OneDavid,

How long you have been using that service? There is easy to withdraw your money also?

Thanks
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