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Advice needed

Discussion in 'Beginners Bootcamp' started by aym772000, Oct 29, 2007.

  1. aym772000

    aym772000 Recruit

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    Hello
    Has anyone used MetaTrade4 flatform from Madafx(a u.k forex firm)to trade the news?What about their brokers?
    Thanks.
    Garba
     
  2. 3BlackCrows

    3BlackCrows Corporal

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    You will probably find most MT4 brokers are dealdesks that widen pip spreads 10-20 pips during news releases which aren't exactly great conditions to trade!
     
  3. osasyankee

    osasyankee Private, 1st Class

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    so wats ur advice 3 blackcrows? which platform do you think is the best?
     
  4. 3BlackCrows

    3BlackCrows Corporal

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    Personally, I use EFX which is the Forex arm of MBTrading.

    Their pip spreads do widen during important news releases, however I have never been stop hunted by them and everything seems above board.

    I am currently using Intellicharts with their platform due to the fact that price on the charts is in synch with price on the platform.

    They have just upgraded everything and are slowly rolling their new platform out which will include charting so I'm just waiting to see what the charting is like before deciding whther to ditch Intellicharts.

    Their demo at the moment is pretty unstable but the live platform is great though will take a bit of getting used to regarding placing orders, stops etc...

    Oanda shows the same price as EFX so a free demo on Oanda would be a viable alternative to paying for Intellicharts.

    Whatever you do, don't go with a small brokerage. Look at the scam area of this forum regarding a recent individual that's been ripped off by one such brokerage.

    Also look research the broker ratings on the main forexbastards website and go for one with a high rating from at least more than 20-30 people.

    Hope this helps - Happy Trading! :)
     

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