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Looking for a new broker

Discussion in 'Beginners Bootcamp' started by brett morris, Jan 28, 2009.

  1. brett morris

    brett morris Recruit

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    I am relatively new to trading forex and have been trading live for a few months. I have a broker now but they require you to stay in position for 30 seconds or more. This has cost me some money so Im looking for a new broker who doesn't limit time in a position.

    My broker is real good customer service/withdrawl/easy set up. But their charts are no good and the limit thing.

    Any suggestions would be appriciated.

    Thanks,

    brett
     
  2. Cyclon

    Cyclon Company Representative

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    Perhaps analyze the whole picture?

    Perhaps analyze the whole picture? Like it seems you have enough saavy to know how valuable those good attributes are which you've listed. So I would think you have given them the weight they deserve.

    If you've been at this live for only a short while then a 30 second hold limit must have not given you much chance to test whatever strategy (I assume News Trading) that you are using.

    If so how would you rate the value of that strategy over the value of a good broker? Not that you can't have it all perhaps.

    I don't have need of a hold time friendly broker but I use MT4 alongside my own broker's platform and just place the trade with the broker after obtaining my entry criteria on MT4.

    My broker has decent charts but they are slow loading.

    So if you don't get a suggestion of a broker here or find one on your own perhaps this time limit is not the only thing to examine. Maybe you are pressed for time but staying in a trade in Forex is IMO the better long term strategy. It tends to trend very persistently on a given time basis and then at the end you can jump off/reverse.

    Cheers,
    Cyclon
     
  3. Accelerate

    Accelerate Recruit

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    brett morris- I can recommend a broker...

    Who are you currently using?

     
  4. coinage

    coinage Recruit

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    Many brokers

    There are brokers that offer scalping accounts that allow you to get in and out of position whenever you want. Here's a good description:

    investtechfx.com/scalping.asp
     
  5. ETM302

    ETM302 Recruit

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    trading

    My broker doesn't have a time limit but I don't like how long it takes to deposit money and i can imagine it would take just as long to receive.
     
  6. amaro taha

    amaro taha Recruit

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    haloo every one
    do any badu heard about fxcbs bcz i opened an acount in this company i i need some advices , i think its a good company they have agood proposal thx
     
  7. tingtong

    tingtong Private

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    hi
    though you didnt mention the name f broker, but generally 30 sec is not too long hold time if otherwise you happy with all....
    though i would prefer a broker allow scalpoing and EAs with MT4 platform...there are few.
    But maybe it is me, i think it is hard to find a really 100% broker what is top in everything. Choose you main priorities and choose the broker best suit those.
     
  8. Cesil

    Cesil Private, 1st Class

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    I'd recommend Saxo, despite some of the things I've read about them on here. I've been using them (live) for around a year now. Spreads a reasonable, money appears in your account instantly & comes out within 2 days (although that is based on my account being denominated in the currency I'm withdrawing in). No time issues at all as you've described. Slippage is a problem at times but this tends to be more to do with money flows & market conditions than anything maliscious. Never been requoted either. the platform/charting is excellent as well once you get your head around it.
     
  9. rollbrad

    rollbrad Recruit

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    guyz.. plzz stop advertising.. this is not an advertisement forum...so stop doin so.i've been in this trade for quite some time now, and what i've learned that almost all of them are of same capability. non of them posseses all the qualities i've been looking for so many years.some provide really good service from one aspect,but lack poorly in the other department.so with whom ever u may trade , never trust them completely..
     
  10. Cesil

    Cesil Private, 1st Class

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    Not advertising, just havent had any of the issues with my broker that other people are & have complained about.
     

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