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Best Broker for a Newbie
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Member Since Jan 14, 2010 554 posts
James_Bond
Jul 17 2012 at 10:52
lkwong posted: Have a look at Custodian Bank Services provided at Dukascopy. It seems as the funds are held at banks (your choice of 7 banks) in trust (not segregated accounts). Deposit accounts in Switzerland are insured to CHF100,000. These services are reserved only for larger accounts tho'... That sounds good, problem is that choosing a broker based on the funds' safety doesn't always coincide with broker choice based on the platform for example. I for one, don't like Dukascopy's java platform at all. |
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Member Since May 10, 2012 71 posts
LK Wong (lkwong)
Jul 18 2012 at 04:42
James_Bond posted: lkwong posted: Have a look at Custodian Bank Services provided at Dukascopy. It seems as the funds are held at banks (your choice of 7 banks) in trust (not segregated accounts). Deposit accounts in Switzerland are insured to CHF100,000. These services are reserved only for larger accounts tho'... That sounds good, problem is that choosing a broker based on the funds' safety doesn't always coincide with broker choice based on the platform for example. I for one, don't like Dukascopy's java platform at all. I've never personally used dukascopy, but did like the idea of the custodian service. Is the java platform really that bad ? I thought I read that they did have some MT4 bridge that allows a copy of the original Metaquotes platform to send orders to their system. Not sure if thats true. Oh well... I can probably find out if / when I get that USD250K to get the service :0) -LK The YELLOW line should always be above the RED line. It means you've cut your losses, and let your winners run. |
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Member Since Jul 03, 2012 186 posts
TheLastBear
Jul 18 2012 at 10:34
When it comes to choosing your broker there are a lot of aspects to consider. I only trade forex from the MT4 platform. I have heard good and bad things about Dukascopy. I am very happy where I am right now and do not plan to make any changes. Overall they offer the best all around package and keep adding to their services.
Pax puts the X in Forex. |
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Member Since Jan 14, 2010 554 posts
James_Bond
Jul 19 2012 at 10:27
lkwong posted: James_Bond posted: lkwong posted: Have a look at Custodian Bank Services provided at Dukascopy. It seems as the funds are held at banks (your choice of 7 banks) in trust (not segregated accounts). Deposit accounts in Switzerland are insured to CHF100,000. These services are reserved only for larger accounts tho'... That sounds good, problem is that choosing a broker based on the funds' safety doesn't always coincide with broker choice based on the platform for example. I for one, don't like Dukascopy's java platform at all. I've never personally used dukascopy, but did like the idea of the custodian service. Is the java platform really that bad ? I thought I read that they did have some MT4 bridge that allows a copy of the original Metaquotes platform to send orders to their system. Not sure if thats true. Oh well... I can probably find out if / when I get that USD250K to get the service :0) -LK They do have an MT4 but I'm not sure if you can use it with live accounts at the moment, or if it works as it should. As to the platform, it's simply a matter of taste - IMO it doesn't look good as the rest of the retail platforms (trading station, MT4, fxtrade). |
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Member Since Jan 31, 2012 108 posts
Moreno Rodrigez (MRodrigez)
Jul 19 2012 at 14:14
If you are not from US, I would suggest Armada Markets - offers really tight spreads on low commission.
←←← ✔ don't hesitate to click |
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Member Since Mar 14, 2012 14 posts
sandelchayes
Jul 19 2012 at 19:31
(edited Jul 19 2012 at 19:32 )
I like oanda, for live trading, mt4 demos for analysis.
At the time before you open a position on fxtrade platform, you can see how much margin it will use- and the amount of Profit/Loss you will incur, when the trade hits stop loss or take profit. "Follow your Highest Excitement;" -Bashar |
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Member Since Jun 23, 2012 55 posts
skyjack777
Jul 21 2012 at 01:08
Thanks for all the comments, it has helped me understand the bigger picture on Brokers.
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Member Since Jan 14, 2010 2186 posts
Chikot
Jul 21 2012 at 22:05
(edited Jul 21 2012 at 22:06 )
Oanda is the best. New trader can trade a little bit while learning without losing bankroll if any.
Oanda has unit based structure which allows to trade even $20 as if it is $100 K |
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Member Since Jul 03, 2012 186 posts
TheLastBear
Jul 23 2012 at 09:23
skyjack777 posted: Thanks for all the comments, it has helped me understand the bigger picture on Brokers. You are welcome, if you have any questions feel free to pm me. Pax puts the X in Forex. |
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Member Since Jul 03, 2012 186 posts
TheLastBear
Jul 23 2012 at 09:24
Chikot posted: Oanda is the best. New trader can trade a little bit while learning without losing bankroll if any. Oanda has unit based structure which allows to trade even $20 as if it is $100 K Bankroll? Trading is not gambling... Pax puts the X in Forex. |
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