Recommended SB brokers for the FX

Hello,

I'd be really interested to read your views on Spread betting companies you recommend. I intend to mainly spread bet on the FX, using stop buy and stop loss / take profit orders.

For me the most important factors are:

- Reliability of order transaction (ie. the stop loss or stop buy / takeprofit orders get fufilled)
- Spreads

Many thanks,

Alice

achaabo said:

Hello,

I'd be really interested to read your views on Spread betting companies you recommend. I intend to mainly spread bet on the FX, using stop buy and stop loss / take profit orders.

For me the most important factors are:

- Reliability of order transaction (ie. the stop loss or stop buy / takeprofit orders get fufilled)
- Spreads

Many thanks,

Alice

Click to expand...

Depends what you strategy is for forex? And what sort of size you are willing to trade, pretty much all the companies do forex offering very similar deals.
Could recoment a few but as I say to my friends, its best to know what is you are after, strategy wise long/short term and so on.

Sorry for my late reply on this one - I've been away.

I mainly do short term trading:

1. End of day swing trading, usually up to £50 per point with stop buy, stop loss and take profit orders set/revised once a day. I'm in and out within 7 days usually, although if a longer trend comes along I'll ride it out.

2. Intraday - but am not sure spreadbetting companies offer reliability for such small TPs (10 points to SL and also 10 points to TP).

Also:

Futures on shares, mainly NASDAQ - end of day as above only.

Many thanks
Alice

the spreads you get from all the major companies on most instruments are pretty competitive - when the underlying market is open you should usually get a tighter spread anyway -
The spread betting companies are not trading against your positions,so theres no need to look at them in any odd way by any means -
To be successful with spread trading, you basically need to capture enough of a move, either long or short, that will absorb the spread PLUS give you enough ticks to make a decent profit in either direction.
Everytime you open a position you pay the spread - (and the more your leveraged), that " chunk " keeps coming off the net position (bank/draw down) -
So youve got to make sure you jump on a trend thats MOVING IN YOUR DIRECTION enough to make the trade.. !! its a constant trade off -
Stay in line for the BIG moves and THEN use the leverage !! - the ins and out of fills/limit orders, on some platforms its gets messy... Try not to over complicate the issue ... !!

50 quid a point is quite big leverage - if you were on Daily US crude, either in the cash OR the future, the way that instrument moves anyways, plus all the volatility thats about, thats been whipped up by these cdo obligations - the volatility is great, but not if your leveraged to the hilt
jamming in wide stops ties up cash too -
always a battle....

Thanks.

For me the most important factor is reliability of order transaction (ie. the stop loss or stop buy / takeprofit orders get fufilled) - which brokers would you recommend?

IG Index