ECN. Used most by professional traders. Difficult platform for beginners
Minimum deposit $10000 (or $3,000 if under 25yo) * Well diversified -Oanda
Market maker. Second largest retail FX brokerage in the US. Easy platform for beginners.
No minimum deposit
Not well diversified, but well capitalized -Gain Capital (whitelabel forex.com) *Market Maker *Fair spreads *Minimum deposit $250 *Well diversified -FXCM Inc
ECN. Largest retail FX brokerage in the US
Minimum deposit $2000
Not well diversified. CAUTION: FXCM nearly went bankrupt in Jan-2015 due to a lack of diversification and low capitalisation. As a result FXCM LLC was bailed out with a large loan which may prove difficult to pay back. Be warned that their business may not be sustainable in the long term. -MBTrading
ECN. Mid-sized retail FX brokerage
Minimum deposit $400
International Only- -LMAX (whitelabel DarwinEx) *DMA broker based in the UK. Note that as a DMA broker LMAX eliminates the ability for LPs to last-look transactions. This may result in reduced liquidity during volatile times as liquidity providers would be likely not to risk posting liquidity to LMAX's pool. *Tight spreads *Minimum deposit $10,000 *Fairly well diversified -Dukascopy *ECN based in Switzerland, but available elsewhere depending on local regulations. *Tight spreads *Minimum deposit $100 *Fairly well diversified -IC Markets *ECN based in Australia *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Fairly well diversified -Pepperstone *ECN broker based in Australia. *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Not well diversified Software / Apps: Desktop/mobile
Apps are typically broker dependent. Some brokers have their own proprietary software, while others lease common software like Metatrader or NinjaTrader. Some software has a large development community for indicators and EAs.
Terminology/Acronyms: www.forexlive.com/ForexJargon - Common terms and acronyms FAQ: I need to exchange money, how do I do it? This isn’t what this sub is for. Your best bet is using your bank or an online exchange service. Be prepared to pay a hefty fee. I have money in one currency and need to exchange it into another sometime in the future, should I wait? Don’t ask us this. We speculate intraday in FX and shouldn’t be relied on to tell you what’s best for you. Exchange the money when you need it. I have an FX account, should I start trading demo or live? This is highly debatable. You should definitely demo trade until you have mastered how to use the trading platform on desktop and mobile. After that it’s up to you. Many think that the psychology of trading live vs demo trading is massively different. So it may pay to learn to trade live. Just be warned that most FX traders lose almost their entire first account so start with a low affordable balance. What’s money management? Money management is a form of risk management and is arguably the most important aspect of your trading when it comes to long term survival. You should always enter trades with a stop loss - the distance of the stop allows you to calculate how large of a percent of your account balance will be lost if your trade stops out. You can run a monte carlo simulation to figure out the risk of having a number of trades go against you in a row to drain your account. The general rule is that you should only risk losing 1-4% of your account per trade entered. More on this here: www.investopedia.com/articles/forex/06/fxmoneymgmt.asp www.swing-trade-stocks.com/money-management.html What about automated trading? Retail FX traders have been known to program “Expert Advisors” (EAs) to automate trading. It’s generally advisable to stay away from that until you’re very experienced. Never buy an EA from a developer because the vast majority of them are scams. What indicators are best? That’s up to you to test and find out. Many in this forum dislike oscillating indicators since they fail to capture the essence of what moves price. With experience you will discover what works best for you. In my experience indicators that are most popular with professional traders are those that provide trading “levels” such as pivot points, fibonacci, moving averages, trendlines, etc. What timeframe should I trade? Price action can vary in different timeframes. In longer term timeframes the price action and fundamentals are much more clear. Unfortunately it would take a very long time to figure out whether or not what you’re doing is successful on longer timeframes. In shorter timeframes you can often tell very quickly if what you’re doing is profitable. Unfortunately there’s a lot more “noise” on these levels which can prove deceptive for those trying to learn. Therefore the best bet is to use a multi-timeframe analysis, working from top-down to come up with trades. Should I trade using fundamental analysis (FA) of technical analysis (TA)? This is a long standing argument in these forums and elsewhere. I’ll settle it here - you should have an understanding of both. Yes there are traders who blindly ignore one of the other but a truly well rounded trader should understand and implement both into the analysis. The market is driven in the longer term through FA. But TA is necessary to give traders a place to enter and exit trades from a psychological risk/reward standpoint. I’ve heard trading Binary Options is an easy way to make money? The general advice is to stay away from binaries. The structure of binary options is so that when you lose the broker wins. This incentive has created a very scammy industry where there are few legitimate binary options brokers. In addition in order to be profitable in binaries you have to win 55-65% of the time. That’s a much higher premium over spot FX. Am I actually exchanging currencies? Yes and no. Your broker handles spot FX is currency pairs. Although they make an exchange at the settlement date they treat your position in your account as a virtual currency pair. Think of it like a contract where you can only buy or sell it as a pair. In this sense you are always long one currency while short another. You are merely speculating that one currency will appreciate or depreciate vs another. Why didn't my order fill? Even if price appears to cross over a line on your chart it does not guarantee a fill. Different charting platforms chart different prices - some chart the bid price, some the ask price and some the midpoint price. To fill a limit order price needs to cross your limit's price plus the spread at the time that it is crossing. If it does not equal or exceed the spread then it will not fill. Be wary that in general spreads are not fixed. So what may fill at one time may not at another.
Dukascopy Bank SA is a Swiss forex broker that offers online trading services through its own platform called JForex. It is available as desktop, web and mobile versions and provides access to Swiss Forex Marketplace (SWFX). The bank claims it is ‘a unique centralized-decentralized marketplace model’ that combines liquidity of other marketplaces and banks. Forex Trading: Attractive spreads (base spread for EUR/USD 0.2 pip, GBP/USD 0.5 pip), ECN Online FX Trading by Swiss Forex Broker; One Hundred Million at One Click. Free Economic Calendar web widget covers upcoming and past key global economic events and releases, showing actual data, forecasts, and expected market impact. Economic Calendar :: Dukascopy Trading Tools Add Dukascopy Trading Tools on your web for free! Take now. TV. Dukascopy TV - Today. Featured Programmes; Forecasts & Analysis; Forex & Markets ; Dukascopy; Music; Entertainment & Fun; FX Community TV Live; Broadcast Archive; Veranstaltungen Experten on Dukascopy TV; Live Webinars. Wednesday, Dec 20, 13:00 The Dukascopy Research team provides you with the latest analytical products. Join All ... Dukascopy is an international Forex ECN broker with headquarters in Geneva. It started operating in 2004 with a share capital of CHF 22. The group includes Dukascopy Bank - a licensed Swiss bank - and Dukascopy Europe - a daughter company, registered in the European Union (Latvia). The Forex calculator offers comprehensive information on hypothetical trade. The input parameters include currency pair, contract size, account currency, leverage, commissions, spread and rollovers. Additionally, users of the calculator can compare Dukascopy rollovers with rollovers of other Forex intermediaries. Swiss Forex application provides you with the most up-to-date foreign exchange market information in the real-time. You will have rich set of FX tools including quotes, charts, news, calendars and ... Free Currency Converter widget for websites is a compact calculator for converting various Forex instruments from any amount using live exchange rates. Currency Converter :: Dukascopy Trading Tools Currency Converter Dukascopy is an online broker and bank headquartered in Europe. Users can trade forex, CFDs and binary options on the broker’s JForex 3 platform or MetaTrader 4 (MT4). This review will detail Dukascopy’s offering, covering minimum deposit and margin requirements, withdrawal options, trading tools, spreads, leverage, and more. Dukascopy Overview Real tick-by-tick data. Unlike other trade simulators, our software lets you use as much as 10 years of real tick data with real variable spread.The simulator can download historical data from Dukascopy*, which is considered one of the best free data sources, and from TrueFX*. * High quality tick data is offered for free by Dukascopy and TrueFX at their websites.
Whoa..that was easy as compared to horrid Oanda quantlabs.net/blog/2017/01/my-first-java-test-strategy-with-dukascopy-jforex-api-for-automated-forex-trading/ Founded in 1998, Dukascopy is a one of a kind Swiss online forex broker and the bank that offers its clients online trading services for currency pairs, Contract for Differences (CFDs) and binary ... This video is unavailable. Watch Queue Queue. Watch Queue Queue Dukascopy Forex Cartoons Take Profit. Dukascopy Forex Cartoons Take Profit. Skip navigation Sign in. Search. Loading... Close. This video is unavailable. Watch Queue Queue. Watch Queue Queue ... Dukascopy Forex Cartoons Automated Strategy. 109-Year-Old Veteran and His Secrets to Life Will Make You Smile Short Film Showcase - Duration: 12:39. National Geographic Recommended for you Charts opmaken, scherm indelen met jForex. This video is unavailable. Watch Queue Queue Dukascopy vs Oanda vs FXPro forex API trading - Duration: 18 ... How to Calculate Intrinsic Value (Apple Stock Example) - Duration: 11:21. Investing with Tom Recommended for you. 11:21. Dukascopy ...