Day Trading & Forex Forum

dmtoo

I like ECN brokers more than oanda type. I test them both and definitely ECN broker are much better. Particularly when we talking about stops hunting. I save many trades with mbt that with oanda will be hunted. I'm not talking about single example, it's happend to me many ,,many times with oanda.
I'm doing daytrading eur/usd with 30 secs chart, very specific trades, normally I'm doing around 10-20 trades a day.

MBtrading problems:

The first one ROLLOVER. SUCKS
I will like to place some position trades, but with the percent you get it everyday, make impossible to get a profit, because you are fighting with two opponent THE TREND and MBtrading.
For instance very classic pairs like
Gbp/usd +0.42% / -5.15%
EUR/JPY +0.2% / -4.70%
EUR/USD -0.85% / -3.95%
USD/CHF -2.25% / -2.65%

Check yourself, have a look a classic one, like EUR/usd. this one its moving an average at this time of 220 pips daily, so we talking around +-1.75% right now, so make the calculations and you will see what it's really happend. You have to get the trend and also the pair must move above the the percent you are charge every single day,. .. not very easy. compare with other broker.
This is the worst part, and please do not bull**** me about some burocracy-policy-ecn-provider or whatever bank price regulation,.. bla , bla , bla

2 COMMISION
I just trading eur/usd so following mbtrading commision I got charge
0.0005 x 100k x 1.3200 = $6.60
the trick here is that you have to close it, so x 2, and now we talking about $13.2 for a 100k eur/usd.
the problem here is that the commision it's not fix, is moving deppending on the pair. So I will like to know what they will do if the eur/usd drop to 1.00 -0.90 or worst. they will keep this system to calculate the commision?

Apart from that, I don't like mbt navigator. After 200 trades I'm still not happy with the platform.

I check dukascopy and interactive broker. The first one looks some kind of scam, and the second one, I had an account with them few years ago
(futures eurex) I don't like them very much. I found very bad comment about fx platform. Of course the customer services SUCKs too. Probably the worst around.

So any other option guys?

thanks

jeffsmith

If you are not happy with your broker then why don't you try for other brokers who are having mice spreads and also services also. Like AVAFX is having nice spreads and services also.

dmtoo

thanks but if I have to come back to market makers, I'll take oanda.
I'm interested in ECN brokers only.
yesterday I found hotspot, looks ok,. Anybody use it?

dmtoo

I just check hotspot demo platform and the spread it's more like 00-05 so spread its normally around 0.5-1 pips and it's more stable, it's not jumping like mbt.
Mbt its more like 01-03-07... so spread are better.
Its anybody have experience on this two brokers or other ECN I'll appreciate any comment.

VingTsunKuen

Sad to say but HSFX is shutting down their retail part of firm.And their(retail)branch in US is sold to FXCM.
Hotspot was mine broker of choice.I thought that i will trade whit them when mine capital grow enough to do so.
For now i will use MB Trading.But in future i am 100% sure that i will move mine account to some other ECN broker.
Here is the link regarding some ECN.Maybe it could help you.
FX ECNs (electronic communication networks) - London FX Ltd
Cheers,
VTK

__________________

dmtoo

Thanks ving for the information. I still trading with mb, but commission SUCKS, . I will like to move to some currenex broker, but very high fund is required, so..

jeffsmith

I also had same problems with my broker and I thought to switch over to some other broker. I searched on the internet for other brokers and I found AVAFX they are not charging any fees or commission from their clients.

dmtoo

Avafx is a retail broker. I already have experience with them I do not like them. Only ECN broker, but with decent commission