Broker recommendations??

Cobrien

Junior member
20 3
Hi all,

I'm new to trading and have been readin countless of stickie threads, books and watching YouTube videos aswell as looking at a few broker websites for trading education. My question is which would be the best spread betting company to use ( with MT4) this is the platform I am going to try and use. I was going to use IG index uk but after a few reviews reading about them I'm starting to think twice. I would like a company that would be uk based and has good rep, I will be learning forex. Hopefuly I can get some help.

Thanks in advance
 

leemo

Member
57 6
Can anybody recommend a spread betting broker who can offer the following

1) no dealing desk, ECN execution
2)FCA regulated
3)MT4
4) 1 or 2 ticks on US30 (DOW) index

Thanks
 

leemo

Member
57 6
Actually, just spoke to Capital Spreads and they do have a dealing desk :-(
 

Stargunner

Active member
127 19
You basically want it all then?

You're not going to get it. The best you might get on direct market dow is prospreads.

CMC markets is no dealer desk, but they aren't ECN.

Why do you want MT4? I couldn't stand the platform personally.
 

leemo

Member
57 6
I currently use ninjatrader with a few bespoke indicators I like and I trade through FXCM. They offer DAX with a 1 point spread and I can do well spreadbetting this market. I also want to trade US30 but FXCM's spread is 4. This would blunt my daytrading edge. I have had some experience with MT4 and quite like it.

Before FXCM, I used US brokers and used ninjatrader for futures. I find FXCM's execution on a spreadbetting account is just as good.
 

Stargunner

Active member
127 19
I don't think FXCM offer ECN on anything except currencies, though I may be wrong on this. They are however offered on an NDD basis.

Alpari were pretty decent for me to spreadbet with using MT4. All trades are NDD but as ever, only currency is ECN.

The wording is very precise and careful when talking about NDD/ECN and stuff, which leads me to conclude, after very careful reading, you can't get indices on ECN, unless you basically trade DMA, which means trading futures size contracts.
 

leemo

Member
57 6
I don't think FXCM offer ECN on anything except currencies, though I may be wrong on this. They are however offered on an NDD basis.

Alpari were pretty decent for me to spreadbet with using MT4. All trades are NDD but as ever, only currency is ECN.

The wording is very precise and careful when talking about NDD/ECN and stuff, which leads me to conclude, after very careful reading, you can't get indices on ECN, unless you basically trade DMA, which means trading futures size contracts.
Thanks for the information. I am a little confused by NDD/ECN/STP/DMA. I just don't want the broker taking the other side of my trades. FXCM has gone well for me so far although I'm only trading 3 or 4 quid a point. Maybe I'll start noticing large slippage when I ramp up the lot size
 

leemo

Member
57 6
Thanks for the information. I am a little confused by NDD/ECN/STP/DMA. I just don't want the broker taking the other side of my trades. FXCM has gone well for me so far although I'm only trading 3 or 4 quid a point. Maybe I'll start noticing large slippage when I ramp up the lot size

InterTraderDirect seem pretty good. 1 point spread on US30

STP/ECN, NDD (No Dealing Desk)

http://www.intertraderdirect.com/accounts/which-service.html
 

Hate2Lose

Active member
155 3
Hi all,

I'm new to trading and have been readin countless of stickie threads, books and watching YouTube videos aswell as looking at a few broker websites for trading education. My question is which would be the best spread betting company to use ( with MT4) this is the platform I am going to try and use. I was going to use IG index uk but after a few reviews reading about them I'm starting to think twice. I would like a company that would be uk based and has good rep, I will be learning forex. Hopefuly I can get some help.

Thanks in advance

I use IG, amongst others. For MT4, they're probably your best bet.

Don't take too much notice of the reviews - there's usually a strong negative bias. They're huge, so it follows that they've got lots of repeat business and long term clients. For me, they do the job.

Paradoxically, I'd personally avoid any without reviews - probably means they're not yet established. Better the devil you know!
 

JeanL

Newbie
1 0
Mr

Hi
Just want to put in my 2 cents on Brokers...We all struggle to get verified for a real account they say its just one form but at the end of the day it takes a week or more..I can reccommend capitaloneforex ..there registration is very easy..good spreads..and they also have a $100 No deposit Bonus for the newbees...Hope this help..Jean
 

gle101

Veteren member
3,717 84
InterTraderDirect seem pretty good. 1 point spread on US30

STP/ECN, NDD (No Dealing Desk)

http://www.intertraderdirect.com/accounts/which-service.html
1 point spread on the Dow with 0.5 fractions is not as good as 1 point spread without fractions. So go looking for a broker with 1 point spread without fractions. Of course you have to trade with a market maker in order to get this, however, not many around that can give you this. You have ETX Capital MT4 platform and you have Invast MT4 platform, the later an Australian Company (I don't know about regulation and segregated accounts). I was impressed by the speed of the MT4 platform testing the demo at Invast, I have a live account trading with ETX and I also find them to be good. Also have a look at ActivTrades MT5 platform 2-3 spread on the Dow (YM future). It is not as bad as it sounds as it reflect the real market. With ActivTrades you can trade micro lots which is good for testing strategies, as well as good for traders that are at the beginning of the learning curve.
 
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leemo

Member
57 6
1 point spread on the Dow with 0.5 fractions is not as good as 1 point spread without fractions. So go looking for a broker with 1 point spread without fractions. Of course you have to trade with a market maker in order to get this, however, not many around that can give you this. You have ETX Capital MT4 platform and you have Invast MT4 platform, the later an Australian Company (I don't know about regulation and segregated accounts). I was impressed by the speed of the MT4 platform testing the demo at Invast, I have a live account trading with ETX and I also find them to be good. Also have a look at ActivTrades MT5 platform 2-3 spread on the Dow (YM future). It is not as bad as it sounds as it reflect the real market. With ActivTrades you can trade micro lots which is good for testing strategies, as well as good for traders that are at the beginning of the learning curve.
thanks for the info
 

gle101

Veteren member
3,717 84
thanks for the info
Ok, I have had a closer look at Intertraderdirekt and 1 point spread (0.5) fractions on the Dow. I must admit they look more interesting now considering they hedge every trade in the underlaying market. The execution speed seems to be quite good as well, at least on the MT4 demo. It appears that more interesting options is on the horizon for us SB and CFDs traders.

I have also written about the cTrader platform on another thread, CFDs in now being offred at that platform by IC Markets. It is not possible to manipulate the price feed on that platform and what is really good one can trade inside the spread. IC Market is the only company offering 1 point spread (0.5 fractions) on the Dow, but I have read that Invast is also going to do the same in a short while (hopefully the Dow without fractions).
 
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