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Author Topic: Decent broker for a decent account  (Read 3215 times)
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etrader
Newbie


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Posts: 6


« on: Friday, June 01, 2012 - 11:11 »

Hi Everyone

Account has slowly increased overtime and now looking at moving or placing $200k account and was wondering if anyone could give some recommendation on a broker that could take on that size account. I am based in Australia. Thank you.

Cheers
Eric
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Wessel
Silver Contributor
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Karma: 32
Posts: 71



« Reply #1 on: Friday, June 01, 2012 - 13:28 »

Depending on what instruments you trade, as far as I know the gomarkts broker in Australia (http://www.gomarketsaus.com/) is a very respected broker with spreads for the Eur/Usd of 0.8pips for every account > $3000
They allow EA's and have no bucket-shop restrictions like your stop or target needs to have a certain distance of your entry/current price

I'm personally thinking of opening an account with them as far as i know they dont have all kind of affiliate programs that are costly and they use a local bank here in the netherlands for the dutch accounts.

If you trade more than just Forex, metals and indexes you prob need another/additional one.

I have also an account with Interactive Brokers, 30% of all the option volume goes through their systems and they are focussed on institutional traders and hedgfunds. The spread is raw, meaning for the Eur/Usd its between 0.2/0.5 pips and they charge you 0.2 pips transaction costs. So you got the narrow fill around 0.5 pips and pay 0.2 pips transaction costs when you closed your trade. If you compare that with a bucketshop spread of 3 pips spread. Please note: price needs to move 3 pips below your limit entry price and 3 pips above your target to get your fill and take profit. Putting 6 pips in the pockets of your broker. trading 10 lots it equals 10x$10X6pips = $600. Whenever you are using Market orders that money comes from your own profit or is added to your loss.

A useful website about the spreads is: http://www.fxintel.com/



That's just my 5cnts Smiley

Wessel
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“Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful”
etrader
Newbie


Karma: 0
Posts: 6


« Reply #2 on: Saturday, June 02, 2012 - 01:50 »

Thanks Wessel. I have heard of GO. I will also check out interactive broker as down the track may start a hedge fund with a few millions under management (future long term plan)
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DanbrownCubAdure
Newbie


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Posts: 3


« Reply #3 on: Friday, February 20, 2015 - 17:03 »

I know its against usual policies to give out account information, but in this particular case I remember the password. I saved the account name somewhere but due to moving around a lot I lost it.

I remember the player name I was using was MrZimmerman or some variant and Im pretty sure the account name was similar.

Thanks for any help available, and if not thanks anyway.

Cheers.
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Jeniferfx
Newbie


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Posts: 10


« Reply #4 on: Wednesday, December 23, 2015 - 06:10 »

I think both are decent for trading. But, when I get best trading environment from my ECN trading platform. Then, I never think to change my trading platform. As a short time trader I need a regulated broker which has best scalping trading environment. Exactly, 5Stars forex broker provides me those facilities for scalping. Even, I get low trading spread for Gold metal. As a result, now I am using this volatile metal for scalping. By the way, if you use ECN or STP broker, then it’s okay.
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crunchy4x
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Posts: 25


« Reply #5 on: Wednesday, April 20, 2016 - 20:35 »

I usually trade EURUSD with my broker as it is the most liquid and popular currency pair traded in the market with lowest spreads. It is good for scalping too and EA can also be tested on EUR USD.
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dragon_knight
Silver Contributor
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Posts: 54


« Reply #6 on: Monday, May 23, 2016 - 11:19 »

I recommend LMFX, a reliable broker that I am trading and withdrew successfully last week.
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crunchy4x
Newbie


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Posts: 25


« Reply #7 on: Wednesday, September 14, 2016 - 10:36 »

I recommend LMFX, a reliable broker that I am trading and withdrew successfully last week.

Indeed its a good broker! i am also trading with them and no complaints so far. However I am trading with more than one broker at the moment and all of them are decent one with good repute, i have decided to go with multiple brokers just for the sake of diversifying my portfolio but choosing a decent broker wasn't an easy task at all.
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dragon_knight
Silver Contributor
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Posts: 54


« Reply #8 on: Wednesday, November 02, 2016 - 09:18 »

I recommend you to try FXCM, it's such a popular and decent broker.
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Waylay Dave
Gold Contributor
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Posts: 178


« Reply #9 on: Tuesday, July 18, 2017 - 05:27 »

There are many brokers available online, you need to find the one appropriate for you and that will cost you a bit of your time and lots of research.
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Michaelkessy
LinoXipete
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WWW
« Reply #10 on: Wednesday, October 11, 2017 - 21:02 »

Like the title says im looking for decent improv and stand-up classes, that can be taken at night or on the weekends.
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I recommend trying trading bot for profitable investments
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