Best Broker for EA
Nov 17, 2010 at 10:43
1,683 Views
7 Replies
Member Since Oct 28, 2009
1424 posts
Nov 17, 2010 at 11:02
It really depends on what your EA does.
If you are scalping then maybe a fixed spread broker is the way forward, however these are generally market maker brokers and they have their problems, as some of them aren't too honest.
However there are some good ECN brokers out there with small spreads that you can do well with scalping EA's.
If you are trading more long term then an ECN is probably better, just to avoid the problems that a market maker will cause you with possible requotes.
You also need to consider liquidity. If you are trading the Asian session then the liquidity is obviously lower and you need to ensure you are trading with a broker that can fill your trades.
As, you can see it's not an easy question to answer.
Personally I use Jade FX on MT4 and I find them pretty good for most things. However a broker based in Belize isn't to everyone's tastes.
If you are scalping then maybe a fixed spread broker is the way forward, however these are generally market maker brokers and they have their problems, as some of them aren't too honest.
However there are some good ECN brokers out there with small spreads that you can do well with scalping EA's.
If you are trading more long term then an ECN is probably better, just to avoid the problems that a market maker will cause you with possible requotes.
You also need to consider liquidity. If you are trading the Asian session then the liquidity is obviously lower and you need to ensure you are trading with a broker that can fill your trades.
As, you can see it's not an easy question to answer.
Personally I use Jade FX on MT4 and I find them pretty good for most things. However a broker based in Belize isn't to everyone's tastes.
11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
Nov 17, 2010 at 13:06
Thanks for your reply, Steve...
Is there a minimum deposit for Jade FX? And for ECN, their minimum deposit is quite right am I right?
What I was hoping to do is to start a small account with a somewhat reliable broker so that I can test my EA on live account..
Is there a minimum deposit for Jade FX? And for ECN, their minimum deposit is quite right am I right?
What I was hoping to do is to start a small account with a somewhat reliable broker so that I can test my EA on live account..
Member Since Oct 28, 2009
1424 posts
Nov 17, 2010 at 13:32
You can open trades with 0.05 lot on Jade Fx. I use them with a small account ( about $600 ) just to test EA's live.
I would be nervous about putting a large amount of money with a broker in Belize to be honest.
I would be nervous about putting a large amount of money with a broker in Belize to be honest.
11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
Member Since Oct 28, 2009
1424 posts
Nov 17, 2010 at 14:38
I code my own EA's but I also use other people's EA's or services. Diversified portfolio and all that!
11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
Member Since Jun 16, 2010
205 posts
Nov 29, 2010 at 10:05
I'm using Instaforex, although its a russian broker. It's a fairly high fixed spread broker, but you can get 1.3 pip rebate via cashbackforex (PM me for details if you wan't) The advantage is, you can open a microaccount with 1$ and start trading. Their standard lotsize is only 10'000 units, so trading a minilot is like trading microlots with most other brokers (That's 0.0001 standard market lots - 10 units). Keep away if it's a news trader, people have complained that Insta tend to disconnect at important newsevents. I don't know about requotes, cause I only use an EA myself.
Upsides:
1) Low deposit - if they're not reliable and keep your money, it should be affordable.
2) Micro-micro trading - great for testing EA's
3) Rebate from Cashbackforex (and maybe others, I don't know)
4) And currently a 30% deposit bonus.
Good luck with your testing...
Cheers
Soeren
Upsides:
1) Low deposit - if they're not reliable and keep your money, it should be affordable.
2) Micro-micro trading - great for testing EA's
3) Rebate from Cashbackforex (and maybe others, I don't know)
4) And currently a 30% deposit bonus.
Good luck with your testing...
Cheers
Soeren
Always get cashback -
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