ECN. Used most by professional traders. Difficult platform for beginners
Minimum deposit $10000 (or $3,000 if under 25yo) * Well diversified -Oanda
Market maker. Second largest retail FX brokerage in the US. Easy platform for beginners.
No minimum deposit
Not well diversified, but well capitalized -Gain Capital (whitelabel forex.com) *Market Maker *Fair spreads *Minimum deposit $250 *Well diversified -FXCM Inc
ECN. Largest retail FX brokerage in the US
Minimum deposit $2000
Not well diversified. CAUTION: FXCM nearly went bankrupt in Jan-2015 due to a lack of diversification and low capitalisation. As a result FXCM LLC was bailed out with a large loan which may prove difficult to pay back. Be warned that their business may not be sustainable in the long term. -MBTrading
ECN. Mid-sized retail FX brokerage
Minimum deposit $400
International Only- -LMAX (whitelabel DarwinEx) *DMA broker based in the UK. Note that as a DMA broker LMAX eliminates the ability for LPs to last-look transactions. This may result in reduced liquidity during volatile times as liquidity providers would be likely not to risk posting liquidity to LMAX's pool. *Tight spreads *Minimum deposit $10,000 *Fairly well diversified -Dukascopy *ECN based in Switzerland, but available elsewhere depending on local regulations. *Tight spreads *Minimum deposit $100 *Fairly well diversified -IC Markets *ECN based in Australia *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Fairly well diversified -Pepperstone *ECN broker based in Australia. *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Not well diversified Software / Apps: Desktop/mobile
Apps are typically broker dependent. Some brokers have their own proprietary software, while others lease common software like Metatrader or NinjaTrader. Some software has a large development community for indicators and EAs.
Terminology/Acronyms: www.forexlive.com/ForexJargon - Common terms and acronyms FAQ: I need to exchange money, how do I do it? This isn’t what this sub is for. Your best bet is using your bank or an online exchange service. Be prepared to pay a hefty fee. I have money in one currency and need to exchange it into another sometime in the future, should I wait? Don’t ask us this. We speculate intraday in FX and shouldn’t be relied on to tell you what’s best for you. Exchange the money when you need it. I have an FX account, should I start trading demo or live? This is highly debatable. You should definitely demo trade until you have mastered how to use the trading platform on desktop and mobile. After that it’s up to you. Many think that the psychology of trading live vs demo trading is massively different. So it may pay to learn to trade live. Just be warned that most FX traders lose almost their entire first account so start with a low affordable balance. What’s money management? Money management is a form of risk management and is arguably the most important aspect of your trading when it comes to long term survival. You should always enter trades with a stop loss - the distance of the stop allows you to calculate how large of a percent of your account balance will be lost if your trade stops out. You can run a monte carlo simulation to figure out the risk of having a number of trades go against you in a row to drain your account. The general rule is that you should only risk losing 1-4% of your account per trade entered. More on this here: www.investopedia.com/articles/forex/06/fxmoneymgmt.asp www.swing-trade-stocks.com/money-management.html What about automated trading? Retail FX traders have been known to program “Expert Advisors” (EAs) to automate trading. It’s generally advisable to stay away from that until you’re very experienced. Never buy an EA from a developer because the vast majority of them are scams. What indicators are best? That’s up to you to test and find out. Many in this forum dislike oscillating indicators since they fail to capture the essence of what moves price. With experience you will discover what works best for you. In my experience indicators that are most popular with professional traders are those that provide trading “levels” such as pivot points, fibonacci, moving averages, trendlines, etc. What timeframe should I trade? Price action can vary in different timeframes. In longer term timeframes the price action and fundamentals are much more clear. Unfortunately it would take a very long time to figure out whether or not what you’re doing is successful on longer timeframes. In shorter timeframes you can often tell very quickly if what you’re doing is profitable. Unfortunately there’s a lot more “noise” on these levels which can prove deceptive for those trying to learn. Therefore the best bet is to use a multi-timeframe analysis, working from top-down to come up with trades. Should I trade using fundamental analysis (FA) of technical analysis (TA)? This is a long standing argument in these forums and elsewhere. I’ll settle it here - you should have an understanding of both. Yes there are traders who blindly ignore one of the other but a truly well rounded trader should understand and implement both into the analysis. The market is driven in the longer term through FA. But TA is necessary to give traders a place to enter and exit trades from a psychological risk/reward standpoint. I’ve heard trading Binary Options is an easy way to make money? The general advice is to stay away from binaries. The structure of binary options is so that when you lose the broker wins. This incentive has created a very scammy industry where there are few legitimate binary options brokers. In addition in order to be profitable in binaries you have to win 55-65% of the time. That’s a much higher premium over spot FX. Am I actually exchanging currencies? Yes and no. Your broker handles spot FX is currency pairs. Although they make an exchange at the settlement date they treat your position in your account as a virtual currency pair. Think of it like a contract where you can only buy or sell it as a pair. In this sense you are always long one currency while short another. You are merely speculating that one currency will appreciate or depreciate vs another. Why didn't my order fill? Even if price appears to cross over a line on your chart it does not guarantee a fill. Different charting platforms chart different prices - some chart the bid price, some the ask price and some the midpoint price. To fill a limit order price needs to cross your limit's price plus the spread at the time that it is crossing. If it does not equal or exceed the spread then it will not fill. Be wary that in general spreads are not fixed. So what may fill at one time may not at another.
Dukascopy (Dukascopy Bank SA) is the largest international Forex broker, successfully operating since 1997, offers a full range of financial services (including binary options trading) for the trader of any level.Official representative offices of the company are located in Europe, Asia. It is one of the experienced companies securing stability, reliability and traditional Swiss quality not to ... However, if you don’t have $ 5,000 don’t despair, because there is hope: according to their rules, “The minimum deposit in Dukascopy Bank SA is $ 5,000, but in Dukascopy Europe you can open an account for just $ 100.” If you are a client of others binary broker companies with simplified and limited platforms, you might think that using the trading platform of Dukascopy is more ... Dukascopy is a Multi-Assets Trading Platform with over 100+ Assets Dukascopy is a multi asset platform with 100+ tradable Assets. Assets available on Dukascopy include Social Trading, Binary Options. Dukascopy trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a ... In fact, all forex brokers in Switzerland are required to be licensed as a bank. ... As such, Forex Scam Alerts takes no issue with Dukascopy’s business model. Spreads: Dukascopy offers some of the most competitive spreads in the retail forex industry, especially for the major currency pairs. Dukascopy uses a transparent pricing model with a low spread and a commission added on top. The ... Dukascopy is an online forex broker based in Geneva, Switzerland. Dukascopy offers the MetaTrader 4, Jforex, Web, iOS and Android online currency trading top platforms. Dukascopy.com offers over 60 currency pairs, CFDs, binaries and precious metals for your personal investment and trading options. Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a ... Forex brokers; Crypto robots; Scam Warnings; Contact Us. Menu. Home; News; Reviews; Forex brokers; Crypto robots; Scam Warnings ; Contact Us; Home. Dukascopy Europe . Dukascopy Europe. Dukascopy Bank, Dukascopy Europe add single stock CFDs to offering. By Barbara Andrews . June 17, 2016. Forex. Dukascopy Bank, a Swiss forex bank and marketplace, said Friday it and its subsidiary Dukascopy ... Dukascopy is a scam and here's why. Please see my request for intervention on behalf of the community to bring out this broker for the lawless and irresponsible actions experienced by the forex community. My account with Dukascopy is compromised by the numerous requests and unreasonable demands of the compliance and legal department which keep on asking questions regardless of whether they ...
MambaFx is a Scammer. VIP Signals Group Exposed by a User.
One of the best trading system This is the system not scam it's true and honest system Dukascopy Bank SA answer: To qualify a broker as ECN you should consider not only one criteria but several ... GCG 24 (Global Consulting Group) are a scam broker, do not use them they will scam you to bits. https://scambroker.com/gcg-24/ http://forexpeacearmy.com I was scammed ... For instance, let's say you want to trade 100 Australian dollars ( USD ) for corresponding US dollars (USD) where the value of the AUD is 0.90 to USD 1. The trade or conversion will be USD $110 ... Why is Dukascopy forex trading broker API support non existent by Bryan Downing. 1:24. Demo of Java API running Dukascopy Jforex platform for algo forex trading by Bryan Downing. 20:22. My latest ... In the end, we observe a completely legal fraud originating from DukasCopy in relation to the forex trader, as the agreement gives DukasKopi the opportunity to withdraw the funds from the forex ... ----------------------------Telegram channel --------------------- https://t.me/easyFX4u --------------------------------------------------------------------... forex trading strategies, forex trading strategy, Forex trading, morgan stanley online trading, online futures trading, interactive brokers cfd, e trade account, saxo bank online trading, best ...