Do you trade forex online?

[asymmewem]

Hi I just registered to this devoted place forums.neoticker.com . I want to ask for your opinion.
Can you tell me please do you do forex and if yes what forex broker do you use?
Do you know of some good ones?

Thanks in advance for your answers.

P.S. Sorry if I have posted to wrong category "General Trading Discussions" but as you can see I am newbie here.

[Bruce DeVault]

NeoTicker supports three forex brokers for direct connections: Interactive Brokers, MB Trading and FXCM. There are users on all three of these connections. They each have a number of pros and cons, depending on what you are trying to do specifically.

[Lawrence Chan]

I have accounts with many forex brokers. =)

For me, NeoTicker is mainly used for the decision making process. That means, I use NeoTicker's charts, quote windows, dynamic tables, etc. for my real-time analysis. I also have several groups for end of day analysis.

Depending on the type of trading you are trying to do, some forex brokerages may work better for you than the other ones.

For example, you are experienced in trading system development, and expect to trade semi-automatically. Then brokerages with stop orders OCO limit orders can make your life much easier.

(Bruce, yes we have seen brokerages still do not offer proper stop orders in forex!)

Maybe you can tell us more about your plan. Then more people here can jump in with their views.

[Bruce DeVault]

Originally Posted by Lawrence Chan

...(Bruce, yes we have seen brokerages still do not offer proper stop orders in forex!)...

I have trading accounts with the NeoTicker supported forex brokers (IB, MB Trading, FXCM) as well.

OCO-type implementation probably varies the most widely from broker to broker - notably different for instance in how it works between MB Trading and IB. For entry using their own trading applications, MB Trading offers "TTO" orders which are essentially like having stop market orders on each side in which they guarantee both won't execute but one is like a target and one a stop, while IB has a much more complex order capability that lets you bundle things together in potentially quite complicated ways.

I definitely agree there's no one right broker for everyone - it really depends on what you are wanting to do.

[pippi]

I think the most important thing is to choose one of the bigger firms that have been in business since quite a while(like for example those 3 already mentioned), and i suggest firms within the USA or UK - but certainly not one of the bazillion firms in offshore locations, there is just way too much legal uncertainty in case of troubles, or even the chance that they are outright frauds.

[Bruce DeVault]

I don't think I would want to deal with a broker (forex or not) who isn't regulated, or who isn't insured by a major insurer (as all of the above ones I mentioned are).