Hi,
I recently saw an advert for this direct access broker which is a division of FXCM:
www.propfx.com which looks fantastic. Due to the nature of it being direct access there is no middle man to take an opposite position therefore eliminating conflict between broker and client and best of all the pip spreads are between 1-3 pips!! You are allowed to trade within the bid-ask price therefore this is a platform ideal for scalping which is great news to me because my current account is with FXCM, a retail broker, which has spreads of a minimum 3 pips an average of around 5 pips, which is not designed for short term trading in the long run as the spread soon eats into your profits. They also state they search prices from 5 interbank market makers which guarantees you are presented with the best price.
My question is, have any of you forex traders used this website or any other direct access broker? What are your views on them, surely this is the way forward?
regards,
P.S I emailed propfx on friday morning requesting more information and still havent had a reply which i'm not too impressed with however i like to think this is just down to the fact they dont have sales staff in the office over the weekend.
I recently saw an advert for this direct access broker which is a division of FXCM:
www.propfx.com which looks fantastic. Due to the nature of it being direct access there is no middle man to take an opposite position therefore eliminating conflict between broker and client and best of all the pip spreads are between 1-3 pips!! You are allowed to trade within the bid-ask price therefore this is a platform ideal for scalping which is great news to me because my current account is with FXCM, a retail broker, which has spreads of a minimum 3 pips an average of around 5 pips, which is not designed for short term trading in the long run as the spread soon eats into your profits. They also state they search prices from 5 interbank market makers which guarantees you are presented with the best price.
My question is, have any of you forex traders used this website or any other direct access broker? What are your views on them, surely this is the way forward?
regards,
P.S I emailed propfx on friday morning requesting more information and still havent had a reply which i'm not too impressed with however i like to think this is just down to the fact they dont have sales staff in the office over the weekend.