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 Share your views
 
 2/1/2007 9:13:12 AM
User is offlineelliot
4 posts


Share your views
In my last 3 months of starting the trading business I find that brokers are outnumbering the traders. I came across Crown Forex trading. They offer 1 pip spread on the majors. Will trading or dealing with them will be beneficial?
 2/1/2007 11:20:15 AM
User is offlineasher
5 posts


Re: Share your views
Better try to look over review in forexplane. One caveat for all brokers is to avoid trading the news...nobody likes that! If you do, your broker will find one way or other to penalize you but for normal trading big companies are good.
 2/1/2007 11:46:05 AM
User is offlineshaun
4 posts


Re: Share your views
  You just have to make sure you are with a broker that can handle the volume.

FXCM and FXSOL are excellent brokers.

I SUCCESSFULY trade the news all the time. And I have never had a problem with either broker.

Brokers are not out to get you. Just some of them cannot handle the volume.

Gaps and slippage are not created by the broker.

The only thing created by the broker is spreads and sometimes they will open the spread during news events. But that is done only to protect themselves NOT to penalize you.
 2/1/2007 12:15:50 PM
User is offlineBrianTran
155 posts
5th




Re: Share your views
 Modified By BrianTran on 2/1/2007 1:18:08 PM)
shaun, don't the dealing desks brokers let the clients have direct access to the market and therefore do no handle volume themselves? The dealing desks  handle your orders and not let the market handle your orders. This is what I've seen and experienced. My broker is a small outfit and are new to forex but not to stocks and futures in US. I trust them because I've dealt with them for a few years and had no issue (liquity-, legal- or solvency-wise). Since they're small I assume they don't deal with clients' volume, only take the transaction commission and not the spread.

I trade with a non-dealing desk and get filled instantly any time at market, and most pairs had 1 pip spread. I've had some bad experience in the past with dealing desks (won't name names here).
The sum is greater than its parts.
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