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Comments (32)

Mar 31, 2021 - 11:40am

Today the problem of forex trading becomes not so complicated because of many tools implemented in it. For instance, today is very efficient both if you are a newcomer or professional. You need just to choose the correct and reliable one and to watch how it earns money for you.

Jan 25, 2010 - 10:36am

ideating - if you're trading a very stable carry pair, 500x juice can make even the most insignificant carry quite meaningful... but if you are trading for actual price movement, I agree, 500x is way too much.

Jan 25, 2010 - 12:22pm

500:1 is moronic. Let's look at EUR/USD for example. The average daily range is +/- about .75%

At 100:1 that makes daily range movement 75%.
At 500:1 that makes daily range movement 375%

In effect, if you go long EUR/USD with 500:1 leverage and the price goes against you just 25% of the daily range you have basically blown your account.

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Jan 25, 2010 - 12:36pm

Excellent comments. Can we go back to the question, aka, what brokers can you recommend? If you think that trading with 500:1 leverage is stupid (can't agree with you more, but still need to know), what are some brokers that offer at least 100:1

Jan 25, 2010 - 12:53pm

FXCM offers 100:1 Max leverage. They had a connectivity issue on Friday, but they are one of the most highly capitalized firms out there. Oanda is the other major player, but their Java platform is quirky and leaves a lot to be desired.

All firms get slammed mostly by failed traders, so sift through the negative comments on all of them carefully.

For as little as $25 you can open an FXCM account, but if you are just wanting to try one out I would suggest at least $100 because $25 would likely blow up pretty fast.

Jan 25, 2010 - 1:08pm

FOREX.com offers 100x in the US currently, and 200x in their UK account (which you can open from the US). I used them for a few months on a carry trade back when 200x was OK in the US.

Aug 8, 2013 - 1:46am

I can smell a carry arb from a mile away...

If that is the case, trust me, your short carry position will be liquidated much sooner than you would have ever hoped and you may never recurve your deposit if you go with a shady broker in Cyprus.

As for the best retail broker, I'd say look into Oanda, they have some of the lowest spreads and are entirely electronic.

Jan 14, 2016 - 9:55pm

Thanks for sharing your ideas. Now i will tell something about forex trading.Risk-takers don't do o.k. in Forex, so remember to exercise caution in the slightest degree times. you may hear a number of stories concerning people that risked some serious money and had it pay off in an exceedingly massive means, however that is virtually one in a million. The more common story is that the guy who risked an excessive amount of money and lost everything.

Feb 17, 2016 - 10:31pm

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May 28, 2016 - 10:15pm

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May 31, 2016 - 9:30pm

This is very good discussion for share any emission. I want share some tips about forex.For Forex is a commonly used abbreviation for "foreign exchange," and it is typically used to describe in the foreign exchange market by investors and speculators.Example, imagine a situation where the U.S. dollar is expected to weaken in value relative to the euro.

May 31, 2016 - 9:31pm

Which forex broker to use? (Originally Posted: 07/29/2007)

For a personal account, which forex broker is reliable to use? Forex.com is out of the question since I think it's a scammer. Any advice would be greatly appreciated!

May 31, 2016 - 9:32pm

GFT is better since they allow you to start with 250USD. CMC has a really good daily commentary by Ashraf Laidi, but starting balance is 2500USD.

I would start with GFT and then move on to CMC while maintaining my account in GFT for charting and other news feed.

May 31, 2016 - 9:38pm

Oanda.com is the one I use and it's also very highly regarded. It's downside (for some people) is that max leverage is 50:1, while most other brokers allow a max of 200:1. Personally, I don't want to leverage more than that, but its something to consider when your looking for a broker.

However, it has a lot of benefits that most other brokers don't such as no minimum deposit, small spreads, no minimum lot sizes. check it here:

http://fxtrade.oanda.com/about/about_fxtrade.shtml

I've also heard some good things about Northfinance. It's one of the few brokers with a low minimum account size that runs on the Metatrader platform. Note that northfinance isn't regulated,even though i haven't heard of people having any problems with them.

May 31, 2016 - 9:39pm

Oanda is good for starters. As long as the broker is regulated, there isn't much of a difference.

I would highly recommend CMC because of their commentary. GFT has the best charting tools. Oanda allows you to play with the markets with no minimums. If you know your stuff, then all you have to do is feel comfortable with any platform.

Avoid forexbastards at every cost. People who know how to trade never share their strategies. I remember Lee Oliver once mentioned forexbastards in his Euromoney FIX which made the site look legitimate. Forexbastards or any online blog (except very few) are least helpful. They give you a very basic idea and nothing more. Oanda forums are a good place to learn, but you have to filter out the trolls.

If you want any genuine advice, make friends on the trading floor and try to learn from them. I get reports from the trading floor every day. Moreover, follow bloomberg and Reuters to stay on top of things. When I say trading floor, I mean BB dealers.

If you are destined to be successful, then you will either write your own blog or at least not depend on someone's analysis (exception being reading daily in-house research reports).

Good Luck

May 31, 2016 - 9:40pm

actually other than execution you should look at the funding and speed of withdrawal. depending on where you are based, you might want different brokers.

My sense now is that oanda has the best spreads, so it's pretty good for scalping. If you hold position for days then the few pips won't matter. i've heard rfxt is not too bad in the execution, but spreadwise it's fixed 3 pips for the euro and yen, which is good and bad. good during news, bad otherwise.

what sort of trader are u? maybe that will help you find the best trader for urself. good luck.

May 31, 2016 - 9:41pm

GFT has the best platform by far, I mean the other ones are toys compared to it. There is areason for so many toy platforms though. The forex market and leverage eats money. because of the leverage and volatility you can wipe you 5k a day even with tight risk control. I'm sure you know all of this, just letting you know in case your a newbie. if so most platforms let you demo, so i would demo all the ones mentioned, and test your trading with them too. you will find out what is for you. cheers!

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