QUOTE(solstice818 @ Nov 18 2012, 07:25 PM)
Good stuff explaining...post like this inspires more worthwhile discussion than some post promoting this and that.
So, just to satisfy my curiosity, any recommended ECN accounts? I have heard of FX Open AUS, their review wasnt that bad either.
haha.. interesting that you said that, I did try to market my website but I was trying to promote trading psychology (i'm a blogger who is trying to write ebooks to sell). however, I realise that retail traders (as oppose to institutional traders) don't really care about trading psychology, so I'm slowly giving up on trying to stop ppl from gambling.. when they see the promo posts, they all get excited. So, just to satisfy my curiosity, any recommended ECN accounts? I have heard of FX Open AUS, their review wasnt that bad either.
anyway, I'm using FXCM and Axitrader.
As I mentioned on the other post, FXCM charges USD7 per 100k lot, Axi charges about AUD$7 per 100k lot. AUDUSD is near-ish parity, so they are not too much diff. I know for certain that FXCM is a safe broker (they are pretty big, i THINK they are listed in US stock exchange and they also own http://www.dailyfx.com/). Axi is an Australian regulated broker, they keep their money mainly in HSBC, so, again, pretty safe.
if you're really keen to open with them, I have a promo code where I can get cashback, happy to split the money. PM me if you're interested. And NO, I don't work for either of them but this is my marketing for today.. lol..
FX Open seem to have good rates (see link) but not sure what their commission is and don't know their background, so can't comment.
http://www.fxintel.com/
Hope that helps.
Added on November 19, 2012, 12:36 pm
QUOTE(AllnGap @ Nov 19 2012, 08:43 AM)
i'm trading on AdmiralMarkets on EU is 1pip spread(AUD=3, GBP=2) during liquid hours.
the other thing is not slippage. it's how the broker rip you off when you place orders as the price will move a pip higher or lower.
that is why i dont buy all those low spread marketing. it's fixed spread and accurate placing of bets that matters.
There is no ECN for small accounts. They can call it ECN but it's not the real ECN.
hey AllnGap,the other thing is not slippage. it's how the broker rip you off when you place orders as the price will move a pip higher or lower.
that is why i dont buy all those low spread marketing. it's fixed spread and accurate placing of bets that matters.
There is no ECN for small accounts. They can call it ECN but it's not the real ECN.
I think I understand now but I also think there's some gap in what you're saying.
AdmiralMarkets is actually an ECN account too. However, there are 2 types of ECN account
- raw + spread (var commission)
- raw + commission (fix commission)
if you are on the standard account, you are paying a variable commission. This is a lot more transparent because you can see the spread and you know what you're paying. nonetheless, I have to agree with you, fix commission is less transparent and it can be quite annoying if you don't understand.
anyway, just sharing my view.
This post has been edited by flipflap: Nov 19 2012, 12:36 PM
Nov 19 2012, 12:14 PM

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