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Best Broker for a Newbie

James_Bond
Jul 17 2012 at 10:52
556 комментариев

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.

LK Wong
lkwong
Jul 18 2012 at 04:42
71 комментариев

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

TheLastBear
Jul 18 2012 at 10:34
186 комментариев
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.

James_Bond
Jul 19 2012 at 10:27
556 комментариев

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).

MRodrigez (MRodrigez)
Jul 19 2012 at 14:14
168 комментариев
If you are not from US, I would suggest Armada Markets - offers really tight spreads on low commission.

sandelchayes
Jul 19 2012 at 19:31
20 комментариев
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
skyjack777
Jul 21 2012 at 01:08
55 комментариев
Thanks for all the comments, it has helped me understand the bigger picture on Brokers.

Chikot
Jul 21 2012 at 22:05
2299 комментариев
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

TheLastBear
Jul 23 2012 at 09:23
186 комментариев

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.

TheLastBear
Jul 23 2012 at 09:24
186 комментариев

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...

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