FX Brokers

jamus

Junior member
46 0
Hi everybody. I just wanted information on the best FX brokers around, websites and minimum deposit etc as I want to trade currencies for real and not just spread bet. Any input from anyone would be much appreciated
 

JonnyT

Senior member
2,560 22
Hi Jamus,

I've had look at IBs offering today.

Spread for the Euro/Dollar is 1 pip and $12.50 per pip.
Spread for the $/£ varied from 3 to 8 and is $6.25 per pip

You need around £1000 per contract for a day trade

JonnyT
 

Miki

Member
98 1
www.oanda.com

Spread for the Euro/Dollar is 2 pips and $your choice per pip.
 

al-motor

Active member
249 0
Miki,

Been playing the FX game on oanda- seems good- the only thing is the margin seems high- To control 100k units, it is telling me i need about 7900$ , whereas the future for the same amont ( 2 contracts ) would only require about 1700 $ ?

Any ideas ??
 

JonnyT

Senior member
2,560 22
Hi Al,

Al,

£5000 to control £100,000 is 200-1 leverage, as advertised.

The futures are different. If you want to day trade the only future I think you stand a chance with is the EUR/USD. The GBP/USD is too thin

JonnyT
 

al-motor

Active member
249 0
Jt- I realise the thin mkts and i think the futures are really meant for positional trading................

Miki- i understand that, but since i would always trade with fairly tight stops and those stops are guarateed ( as i understand no slippage), therefore it still seems too much - but i guess we cant argue !!

thanks
 

JonnyT

Senior member
2,560 22
Al, you don't have to trade with 200-1 leverage. Just deposit more in your account or trade lesser values.

JonnyT
 
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