SrianFX (< 20)

Forex Broker

August 16, 2012 – Comments (0) | RELATED TICKERS: FOREX , STP

On an ECN account like I  use where we can be sure that all our trades go trough the Broker to Liquidity suppliers. By having such an account we trade just against the market and not against the brokerage firm we choose. We can choose market makers if we only trdade small volume but I don recomend it.

The other name of ECN is STP meaning strait trough process. By this we can find ourself just agains the other players of the forex market and not against the brokerage.

At a brokerage firm there are several ways how they can work against You. By different plugins the broker can hunt down Your stops and You end up loosing money. By winning from the broker You will win out money from the brokers pocket. On the forex market You can run into forex brokers who hardly let You win. Be aware of those forex brokers who have bad reviews. These reviews should be treated like the other brokerage could write it buti f a broker have many bad reviews than it can be bad. Be aware of any broker with a review that the client didnt received their money back.

There are some forex brokers regulated and some not. By choosing a non regulated broker You can have the same comfort as choosing a regulated. The only difference is that it is harder for the forex broker to cheat You but they also have the ability. I traded with several regulated brokers and the worse were these companies. Trade with a forex broker company who has mostly good reviews.

Try to open a real account with these brokers and open a real forex account. Deposit a small amount You can trade with like 2-3000 $. Trade some, by trading on a small account You will have a view how the system works, wetaher they hunt down Your stop, they do requates, how fast their execution is, how big is the slipage etc.

Be aware of forex broker with great slipage. You can see that the spread is low however the real execution is a lot higher beacuse of the slipage.

On the forex market You will end up loosing by choosing the wrong forex broker. They can also vary the price itself, they can freeze the server. This is a plugin to make You loose. Dont use a broker who frezes the server during news. By chosing a forex broker who freezes You can be sure that You trade against the Forex brokerage and not against the market. You need to find a decent ECN, STP brokerage.

For a recomandetion, I used several brokerage firms before. I used brokerage firms from Switcherland, Germany, USA, Cyprus, Seychelles, NewZealand.

Where I trade now is www.ducascopy.com and www.3tgfx.com

From these two I prefer 3tgfx since they are a lot more flexible than ducascopy. At 3tgfx I could open several supaccounts where I can run the different robots, EAs I have and I have a different account for manual trading.

At 3tgfx I can change the equity of the different subaccounts in some hours without a hard paperwork.

At 3tgfx I also run a managed account managed by 3tgfx. They made a nice profit in the last period, meaning about 20% profit.

I also run account for greater profit and for stable profit. I always run different EAs to make a constant result. In my past I lost great amounts on bad EAs and on bad Brokerage firms.

I cerfully studied who should be my best partner and thats how I ended up at ducas and 3tgfx.

What I also like is that I have an application on my HTC where I can check my positions and different accounts with Mobile Trader at 3tgfx. It is a bit difficult to analize the market on the Mobile Trader but I can check the different positions.

I am thinking of buying a Ipad to be able to monitor my positions easyer ont he webtrader while I am not infront of my computer.

So to sum it up. Choose a forex brokerage who is ont he market. No market maker. Find a decent ECN, STP forex broker. My recomendation is www.3tgfx.com for trading manually and running a robot (EA). You can also check the different managed accounts but only deposit money to a brokerage with good reviews.