last broker question 4 me before I take the plunge :)

[Jer]

ok, sorry to bug you all again :)

I can't decide between FXDD or FXPro. FXDD offers micro lots (good for 600USD start) and FXPro does not. Also FXDD seems to be scalping more trades. FXDD takes much longer to open though.

Thanks, I normally would not be so darn indecisive, but this 1 license thing has got me more cautious about selecting my "life-time" broker for fapturbo.

Thanks,

Jer

[Sooner]

ok, sorry to bug you all again :)

I can't decide between FXDD or FXPro. FXDD offers micro lots (good for 600USD start) and FXPro does not. Also FXDD seems to be scalping more trades. FXDD takes much longer to open though.

Thanks, I normally would not be so darn indecisive, but this 1 license thing has got me more cautious about selecting my "life-time" broker for fapturbo.

Thanks,

Jer

If you are going to run the scalper pairs ONLY then I would say go with FXPRO as their spreads are much better than FXDD. Since you are working in times of very low market volatility the starting balance should be enough to allow you to build the balance safely and quickly. FXDD taking so long to open an account is a red flag to me, if it takes them that long to accept my money, imagine how long it will take me to get it back. Besides, what happens if the po-po's are after me and I have to make a quick getaway, this way I can grab my IBFX debit card and run for europe ;)

[Jer]

lol, good point. But tonight (Dec 8) FXDD took 12 good scalpes, FXPro only 7! Even with the higher spread, FXDD still had a better night. Don't get me wrong, I actually feel like going with FXPro, but it seems FXDD feeds provide better scalping so far.......at least demo wise :)

[Sooner]

lol, good point. But tonight (Dec 8) FXDD took 12 good scalpes, FXPro only 7! Even with the higher spread, FXDD still had a better night. Don't get me wrong, I actually feel like going with FXPro, but it seems FXDD feeds provide better scalping so far.......at least demo wise :)

I have found considerably different results between the live and demo versions of the IBFX broker. While they are both profitable, not having to fight the spread becoming the grand canyon is always helpful. You might ask in the main area because I know someone has a live FXPRO account, I just can't remember who it is.

[Jer]

thanks. I will do that.

[dcrowley06]

I use FXPro, but unfortunately I changed some of the default settings on my scalps. So my trades would be different results. It only ended up trading eurchf (both buy and sell) for me and USDCAD tonight. I made profit on both. If you look at the eurchf charts, the candles are really long. You can make quick scalps on those movements and stay (in my mind) relatively safe.

But the USDCAD scalp that it opened went haywire and went negative for a long time and when it finally closed it, it was $2.00 profit.

I would like to see this thing start hedging, so I may look at that setting and tweak around with it. I would do it on a demo account, but since I only get the one ... :)

[mystikdragon7]

Have you looked at IBFX yet? They are pretty good brokers and a lot of the times their spreads are smaller than 2 pips. I have always liked the idea of having a debit card to use all my winnings instead of having to wait a week to get my money transfered. And IBFX is super fast on opening and closing trades.

[Jer]

Hey dragon,

Originally I was going to go with IBFX until I started getting the no TRADE today for the eur/usd, when on other brokers such as fxdd, they were trading eur/usd fine. I spoke to FAPturbo support and they said trading with IBFX last week was "unique". This kind of turned me away thinking maybe IBFX is catching on?

I don;t know anymore :(

[JillyB]

Have you looked at IBFX yet? They are pretty good brokers and a lot of the times their spreads are smaller than 2 pips. I have always liked the idea of having a debit card to use all my winnings instead of having to wait a week to get my money transfered. And IBFX is super fast on opening and closing trades.

I have an account with IBFX and would recommend them too for the Scalper trades - they've been coming in thick and fast last night!

I went with them as they are regulated whereas I don't believe FXDD are - just a small point, but I prefer to have brokers who are regulated either by the FSA in UK or the Futures Commission Merchant (FCM), and/or Commodity Futures Trading Commission (CFTC).

A good list of Metatrader brokers and their regulation/min account sizes etc can be found on

http://www.earnforex.com/mt4_forex_brokers.php

[OmegaFire]

Hi Sooner, Dcrowley06 and Mystikdragon,

I believe we just might have just ended up compounding Jer's problems. Simple question is FXDD, FXPro and IBFX which one to take the plunge with?????

Please give ONE even simpler Answer.

[jefe]

I'm using FXDD and IBFX live accts--I couldn't decide either...

I run the FAPT on the IBFX acct. I haven't tried a withdrawl yet - I do a pretty good job of gambling away my winnings on my own...LOL...

I would recommend the IBFX if your starting balance is less then $1K. The micro accts are much more managable then FXDD-which only goes as small as $1.00 (IBFX goes to $.10)

"I think" you can swap brokers when you download/renew your monthly activation with FAPT- but haven't tried yet...

[mystikdragon7]

FXDD is from what I last saw in the process of becoming regulated, and they do have micro accounts you just need to call them and ask. They will set up your account right away with the micro. I liked IBFX a bit more just because they have a debit card account that you can link to your forex account.

[jefe]

FXDD is from what I last saw in the process of becoming regulated, and they do have micro accounts you just need to call them and ask. They will set up your account right away with the micro. I liked IBFX a bit more just because they have a debit card account that you can link to your forex account.

I have the FXDD "micro acct" 10K lot size, I did have to email them and request it. smallest lot size of .01 -- still is a buck though.. regular accts only go to .1 -- if you try and trade.01 it'll default to .1--at least my acct did..

P.S. Buy SKF...

[OmegaFire]

I sure Jer would be reeling with frustration by now. I'm really concerned 'cos I'm also looking forward to a simple answer to his question - FXDD, IBFX and FXPro - which one to take the plunge with? Anyone have experience with ActivTrades? I'm Planning to open a $2500 Live Account with Them and another $1000 each with any one of the recommended former. Please share ur thoughts.

[jefe]

I hope you bought SKF for today...

[Jer]

Well, I could not decide on one so I opened 2 :) FxPro and FXDD. Both brokers are going pretty good so far. I am trading the free $100 that FXDD gave out for opening up an account before christmas. It's now at $130. Woho! :)

Jer

[OmegaFire]

Hi Jer

What is you experience with FxPro so far on live Trading

[Harre]

FXPro has been good for me. More trades than any other broker I've seen and spreads are low and don't go over the max spread they state unlike some other brokers out there. The FAPT team have spoken to one of the managers at fxpro and they welcome use of FAPT (at least so far). The only downside is that they don't do micro accounts so even if you can open a $100 account with them you really need at least $500 but preferably more to avoid a risk exposure that's too high. I've got a $500 account (currently $640) and trade the minimum lot 0.1 which means that worst case scenario I get stopped out on the eurgbp for 110 pips and lose 20% of my account in one trade. It did happen in December but FAPT did a lot of winning trades as well that night so the actual loss wasn't too bad but it is risky. Simple and fast to setup account and you can deposit using credit card.

FXDD I'm not using myself but they seem to be ok according to the result threads out there. EDIT: I forgot to say that FXDD are running a promotion and will give you $100 in your account when you open it. Nice gesture although not sure what you need to do to be able to collect the cash if you make a profit with it. The downside of this is that it takes forever to open account with them at the moment (I've heard 2-3 weeks).

IBFX I would avoid. I know there are people out there still making money with IBFX but the spreads are very high compared to other brokers AND not a day passes without at least a few posts about re-quotes and trades not being executed on time. You will get substantially less trades, maybe one or a couple a day, using IBFX due to their spreads and re/off quotes. The upside is that they are huge and could be considered "safer" perhaps. Please note that they charge 25 bucks for withdrawals (not sure about deposits) as well!

[Jer]

So far both FXDD and FXPro have both been good. I find FXPro price feeds a little slower, they don't seem to bounce around as much as FXDD. Other than that and the usual 1-2 minute server reset at 4:00 est, so far so good.

Jer