What is brokers view on winning ?

[DayTrader]

How do this work if you're winning big on trades... does it make the broker happy or does he see red ?

[koeiseun]

I think all they care about is lots and lots of trades. The more trades the more spread they make. The broker is not a casino that looses money when the gamblers win.

KS

[DayTrader]

Yes, but they're not too happy when the trader makes withdrawals ?

[Sooner]

I don't think they care as they have already been paid by the spread on each trade. The money you have on account with them is small fries compared to their overall total.

[alan]

I think all they care about is lots and lots of trades. The more trades the more spread they make. The broker is not a casino that looses money when the gamblers win.

KS

Not true. They do lose money if they take the opposite end of your trade. Many brokers do this with small trades...anything below a standard lot, and they do this because their liquidity providers (banks) will not let them pass trades smaller than that.

The only forex brokers that truly only care about volume are ECN brokers which earn a commission PER trade/round lot turn.

Your broker is not your friend, learn to accept this fact and focus on your trading until you're big enough to trade with the big boys in a true open market environment (ie ECN).

[n1ghtnday]

Not true. They do lose money if they take the opposite end of your trade. Many brokers do this with small trades...anything below a standard lot, and they do this because their liquidity providers (banks) will not let them pass trades smaller than that.

The only forex brokers that truly only care about volume are ECN brokers which earn a commission PER trade/round lot turn.

Your broker is not your friend, learn to accept this fact and focus on your trading until you're big enough to trade with the big boys in a true open market environment (ie ECN).

Hey Alan,

While we're on the topic of ECN brokers, have you found a good one supporting MT4? I've been looking for one that looks promising.

-nnd

[alan]

Hey Alan,

While we're on the topic of ECN brokers, have you found a good one supporting MT4? I've been looking for one that looks promising.

-nnd

Hi there. Here is a list of ECN brokers that claim to support the MT4 platform:

HotspotFX
FastbrokersFX
ATC Brokers

If things go well with FAPS in continuation I intend to move to one of these brokers. I'm thinking of also offering rebates but we shall see how well these work out.

[n1ghtnday]

Hi there. Here is a list of ECN brokers that claim to support the MT4 platform:

HotspotFX
FastbrokersFX
ATC Brokers

If things go well with FAPS in continuation I intend to move to one of these brokers. I'm thinking of also offering rebates but we shall see how well these work out.

Hi Alan,

I spoke with someone at ATC Brokers today and they seem very solid. They're also within driving distance of me, so I will probably go down there and get more of the scoop of what's going on. They aren't going live with MT4 quite yet, but they have demo accounts available and have live beta accounts that you can open if you call.

Anyway, I'll post more details as things progress. Thanks for your input.

-nnd

[alan]

Hi Alan,

I spoke with someone at ATC Brokers today and they seem very solid. They're also within driving distance of me, so I will probably go down there and get more of the scoop of what's going on. They aren't going live with MT4 quite yet, but they have demo accounts available and have live beta accounts that you can open if you call.

Anyway, I'll post more details as things progress. Thanks for your input.

-nnd

Within driving distance eh? That's cool :) Sneak in and see if they really have server in that building ;)...

But on a more serious note, I'd definitely appreciate if you shared your due diligence info as I'd very much like to write a review of this broker on my forex blog.

Good luck with it.

Cheers,
Alan

[n1ghtnday]

Within driving distance eh? That's cool :) Sneak in and see if they really have server in that building ;)...

But on a more serious note, I'd definitely appreciate if you shared your due diligence info as I'd very much like to write a review of this broker on my forex blog.

Good luck with it.

Cheers,
Alan

Yeah, will do =)

I'll keep you posted. I am demoing an ACT account now and it's looking good. It's amazing how liquid ECNs are.

-nnd

[alan]

Thanks. Yep, and the best part is that it's just you against the market...

[thescorpionking]

it looks to me that Fastbrokers is pretty good, only bad thing is that it needs 10,000 minimum deposite for MT4.
Anyone tried fastbroker? Would you say fastbroker is the best out there?

[^eagle^]

Yeah, will do =)

I'll keep you posted. I am demoing an ACT account now and it's looking good. It's amazing how liquid ECNs are.

-nnd

Hows that demo going NNd.

I see they are not up and running the ECN with MT4 yet.

I am drooling just thinking about the execution of ECN.

Any new news?

[alan]

it looks like now Fastbrokers offers retail account (http://fastbrokersfx.com/fx/index.php) with $500 minimum.

i also wonder if there is any feedback about them.

I would not recommend that because you'd be opening an account with FXDD. The MT4 Pro feed is what I like best. Although as someone said the $10,000 is a turnoff for beginners.

[alan]

it looks to me that Fastbrokers is pretty good, only bad thing is that it needs 10,000 minimum deposite for MT4.
Anyone tried fastbroker? Would you say fastbroker is the best out there?

Hmm, I wouldn't go as far as saying they're the best, but they've got what I for one want - ECN price feed + MT4.

I hear there are others too. Check out ATC Brokers, HotSpotFX, hmm, but I think these are the only other two that I can think of that offer ECN price feed + MT4 in one combined package (without having to buy a separate "bridge" application)

[alan]

Hows that demo going NNd.

I see they are not up and running the ECN with MT4 yet.

I am drooling just thinking about the execution of ECN.

Any new news?

I dunno when they're finally gonna offer the their promised product, but in the meantime I'm gonna try FastBrokers.