which broker would you recommend? [Archive] - The Forex Autopilot and FapTurbo Forum

echaz

10-12-2008, 01:34 PM

hi !

I'm testing the fap a few weeks on a few demo accounts now and im very impressed of the results.
so i think i'll start with a live account with the fap in the next days.
the thing is i've never traded on a live account before.:D

i would like to start with 1000$
so which broker would you recommend?

Earl

10-12-2008, 01:49 PM

echaz

10-12-2008, 03:18 PM

ok thanks.

what about the money?
1000$ isn't that much. which account is the right for me? a micro or mini account?

^eagle^

10-12-2008, 07:36 PM

ok thanks.

what about the money?
1000$ isn't that much. which account is the right for me? a micro or mini account?

Depends on your risk. If you want a penny a pip to test live then a micro is your best bet. You want to start right away then a dime a pip is a good volume to go with.

You can trade a micro as a mini by increasing your lot size. You can actually stay with a micro forever.

I personally use a mini

alan

10-13-2008, 01:37 AM

FXDD does not offer micro accounts btw...Honestly though I'd recommend a much bigger account if you can afford it. If not find a broker that offers micro accounts.

echaz

10-13-2008, 07:20 AM

what about interbank fx or alpari?

i actually have demo accounts there.
would you recommend one of those brokers?
does one of them offer micro accounts?

alan

10-13-2008, 09:30 PM

what about interbank fx or alpari?

i actually have demo accounts there.
would you recommend one of those brokers?
does one of them offer micro accounts?

I have a live and demo account with IBFX and yes they support micro accounts. Alpari on the other hand does not support micro accounts. I do like them nonetheless and I think they're pretty good - never had a problem with them (I got a live account with Alpari as well)

echaz

10-14-2008, 07:41 AM

ok thanks for your replies!

i think i'll try interbank fx.

alan

10-15-2008, 01:13 AM

Yes, interbankfx has micro accounts, which I believe to be perfect for testing FAPS in a live environment without risking too much capital.

n1ghtnday

10-22-2008, 05:58 PM

alan

10-23-2008, 03:18 AM

Alpari is great too, but they do not offer true mini accounts. I would only recommend Alpari if you're going to start trading with a minimum of $5000-10,000

n1ghtnday

10-23-2008, 06:41 PM

I just opened a MINI 1:200 account with FXDD, took only 12 hours to approve. I'm going to use it to test FAPS live with small numbers, just strictly for testing in a live environment.

JJWB

10-28-2008, 04:53 PM

Hi everyone. I just joined the forum a few minutes ago. I think its pretty good - a forum like this. Anyway, I'm thinking seriously about purchasing FAPS. I hear it's the best automatic trading system currently available, and I plan to use IBFX as my broker with $1000 initial capital. :)

ddsully5

11-01-2008, 08:25 PM

Hi Echaz,

Would you mind sharing your inputs with everyone? I would like to hear Alan's opinion on what your using.

Thanks!

By the way guy's this is a TREMENDOUS forum.

alan

11-01-2008, 11:19 PM

Eh? What's that? I heard my name being called...

echaz

11-02-2008, 01:52 PM

yes of course :)

my settings work very well for 2 weeks now.. I've traded 24/5 and got no losses in the time of 2 weeks of trading.

i have a 1k$ demo mini account with ibfx and trade on the m1 chart with the following settings:

lots: 0.1
maxorders: 5
stoploss: 300
takeprofit: 20
trailing stop: 15
rest is default.

i've found those settings on the internet.

the only thing i worry about is that fap trades often in only 1 direction. i often saw that fap opened all 5 orders as sell orders and this is very dangerous i believe.
does anybody know a solution for that?

ddsully5

11-02-2008, 07:43 PM

Hey guy's,

Can anyone tell me how commissions work with the Forex. I'm very familiar with options,stock and futures but have no idea what they do with the Forex.

Thank you,

Daniel

alan

11-03-2008, 02:19 AM

Hey guy's,

Can anyone tell me how commissions work with the Forex. I'm very familiar with options,stock and futures but have no idea what they do with the Forex.

Thank you,

Daniel

Hi Daniel. Please open a up a thread in the following section of the forum:

http://www.forexautopilotforum.com/forumdisplay.php?f=12

This way we remain on topic and not digress.

mystikdragon7

11-15-2008, 10:08 PM

Hey Alan, or anyone, how highly would you recommend IBFX? I really like thier credit/debit card account you can open with them to use you winnings.

alan

11-17-2008, 02:58 AM

Hey Alan, or anyone, how highly would you recommend IBFX? I really like thier credit/debit card account you can open with them to use you winnings.

They're an alright broker. I am highly suspicious of any broker (those not offering an pure ECN environment) but so far I haven't had any problems with IBFX.

keny

11-17-2008, 12:17 PM

Hey Guys! What do you say about FxPro on FAPS? Does it trade fine? Any one used it yet?

mystikdragon7

11-17-2008, 08:56 PM

They're an alright broker. I am highly suspicious of any broker (those not offering an pure ECN environment) but so far I haven't had any problems with IBFX.

Well apparently they just won another award for best forex broker. I got an email from them boasting about it. They got an award form a UK based magazine called Shares. Don't know if that's a fluff magazine or not though.

maxfactor

11-22-2008, 08:45 PM

Interbank FX,Alpari and Liteforex is very good.

mystikdragon7

11-22-2008, 08:48 PM

They're an alright broker. I am highly suspicious of any broker (those not offering an pure ECN environment) but so far I haven't had any problems with IBFX.

I got on a live chat with someone at IBFX and asked them about an ECN. He pretty much told me that they are not good and they trade against you. Hmmmm......

alan

11-23-2008, 01:11 AM

I got on a live chat with someone at IBFX and asked them about an ECN. He pretty much told me that they are not good and they trade against you. Hmmmm......

lool...what else would you expect them to say? They're not going to tell you the truth are they?! And besides that person you talked to is a dunce as in an ECN trading environment there is no such thing as "the broker trading against you" He clearly does not understand what an ECN is or how it works.

mystikdragon7

11-23-2008, 04:50 PM

lool...what else would you expect them to say? They're not going to tell you the truth are they?! And besides that person you talked to is a dunce as in an ECN trading environment there is no such thing as "the broker trading against you" He clearly does not understand what an ECN is or how it works.

LOL right when he said that that's pretty much when I said Thank you and closed out the chat. I still might go with IBFX, but the flashy red advertisement for Hot Spot FX looks pretty good to. Can't find anything about what the minimum deposit is though.

bearzie

11-23-2008, 07:29 PM

I guess you cant backtest with IBFX for more than 1 month for M1, 6 months for M5,?!.Im'e still trying though.Probably try to call them about it.Check out the backtest threads here.

alan

11-24-2008, 01:21 AM

LOL right when he said that that's pretty much when I said Thank you and closed out the chat. I still might go with IBFX, but the flashy red advertisement for Hot Spot FX looks pretty good to. Can't find anything about what the minimum deposit is though.

Minimum is $10,000.

alan

11-24-2008, 01:23 AM

I guess you cant backtest with IBFX for more than 1 month for M1, 6 months for M5,?!.Im'e still trying though.Probably try to call them about it.Check out the backtest threads here.

What you have to do is download history data from the MetaQuotes servers. Go to tools and go to history center. Select the Eur/usd and click on download. You should now have price data going back several years.

bearzie

11-24-2008, 10:41 AM

When i click download after hilighting pair i get a sceen saying the data between meta quotes and IBFX can differ yada,yada, click ok to continue>then get a screen that says there is no new data for pair?!.(i also changed data to all 9's previously)If you dble click the pair you get a drop dwn menu that shows the individual times M1,M5, ect.it shows the data and dates.no matter what i do it doesn't add more data.i called IBFX said you can only use the times that are there?.any thoughts thanks

alan

11-24-2008, 10:50 AM

Well that's odd. I don't know how IBFX could somehow interefere and prevent you from downloading history data from the metaquotes server, but it may be something to do with IBFX platform alone. Have you tried another demo account. Go to the FXDD homepage (fxdd.com) and download their demo platform and try the same. See if it does the same thing.

bearzie

11-24-2008, 10:52 AM

If i cant back test with IBFX-what broker supports all time frame,dollar amounts,and goes back 3-4ish years.According to the forum it seems IBFX is good with forward testing and live though.

bearzie

11-24-2008, 10:54 AM

thanks Alan sorry ime a 1 finger typer wonder!!

alan

11-25-2008, 01:12 AM

lol it's okay..:p

Try FXDD out. fxdd.com

admin

11-25-2008, 09:20 PM

lol what you work for Alpari or something??

popeone

11-26-2008, 02:30 PM

anyone trading with forex.com broker? Opinions?

bearzie

11-29-2008, 03:57 PM

A few threads ago i said i wasn't able get more history on IBFX'S platform for back testing.A diffent thread on this forum took me to a web site witch took me to Alpari site to download M1 history(like 10 mb worth).Went through all steps now have history. I wanted to update this info so as to not mislead anyone thinking about using IBFX or backtesting. Now if i could just get a backtest to work wthout either 30ish% modeling or expert id = o in journal...!!

alan

11-30-2008, 01:55 AM

hmm yeah that used to be the old method of getting history data, but what I'm saying is that you should not have to resort to that...

Miko

11-30-2008, 02:55 PM

mystikdragon7

11-30-2008, 09:15 PM

Alan or anyone;
1st - Are there any brokers in Canada that allow the use of MT4?
2nd - With the brokers that take credit cards for deposits,
Will they also make deposits to those same credit cards?
i.e. How do you get your cash out?

miko

Hey Miko,
Try this Canadian broker out http://www.investtechfx.com/ they seem pretty decent.
I beleive most brokers will only deposit money back into what you initially used to deposit money. So if your first deposit was with a credit card your request for a deposit it will go back to that card.

awaludinz

12-09-2008, 10:34 PM

Hey Guys! What do you say about FxPro on FAPS? Does it trade fine? Any one used it yet?

i am testing FAP turbo on my fxpro demo account. i started at dec 1, 2008. until today, the EA took 19 trades, 10 trades within are consecutive wins. i got 4 losses. awesome performance, i think.

i started with $5000, and the balance is now 5,638..it always trade at 0.1 lot.

regards,
Awal

miracle

12-11-2008, 10:34 PM

Hey Miko,
Try this Canadian broker out http://www.investtechfx.com/ they seem pretty decent.
I beleive most brokers will only deposit money back into what you initially used to deposit money. So if your first deposit was with a credit card your request for a deposit it will go back to that card.

Hi, I have been demo-testing using investtechfx MT4, and the results are very promising. But their customer support is reallyyyy poor. Anyone has the experience with this broker?

tobyjensen

01-11-2009, 02:56 AM

i am testing FAP turbo on my fxpro demo account. i started at dec 1, 2008. until today, the EA took 19 trades, 10 trades within are consecutive wins. i got 4 losses. awesome performance, i think.

i started with $5000, and the balance is now 5,638..it always trade at 0.1 lot.

regards,
Awal

FXPro only trades in 0.1 lot increments. they don't do micro lots like 0.02.

You are probably trading only 0.1 because you have mm set true with LRR at 5 which are the default settings.