Quote:
Originally Posted by allinvain
as long as they don't have a dealing desk, then they're almost all good brokers...
If you have the cash and are willing to learn a new platform I'd strongly suggest going with ECN brokers (google Forex ECN brokers)
Oh, and um if you absolutely want MT4 I heard that FXCM has now moved 99% of their clients to a no-dealing-desk setup, so you might want to look them up.
|
I'm only repeating this from reading it elsewhere... but apparently MT4 was developed as a dealing desk ONLY platform interface.. so any broker that supports MT4 is always using a dealing desk to manage client orders. (not sure how that fits with the FXCM claim of ECN style trading with MT4)
Lavatrading, Currenex, Hotspot and FXall are other ECN network brokers that sound like they are worth investigating from the reviews I have read.
Also... I realised that even though they have really tight spreads, in most cases an ECN broker is going to cost more in fees than a fixed spread spot broker.. but the real advantage is that an ECN isn't trading against you and therefore has no incentive to see you lose like dealing desk spot brokers.