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 is a direct access Forex broker based in Switzerland that offer their services mainly to clients who trade large volumes on a regular basis. However, they do accept private traders as long as they are active and are willing to make the minimum $1,000 deposit required for retail accounts. Recommended Forex Brokers Switzerland has… Dukascopy forex broker has been operating on the international financial markets since 2000. forex dukascopy is a Swiss regulated Brokerage House. The company offers its customers unique access to the first Decentralized Marketplace in the world, joining the best liquidity of centralized marketplaces and a large number of international banks. Dukascopy services and products are regulated by ... You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Dukascopy. Dukascopy Platforms & Tools. The broker offers the following trading ... Trusted Forex Broker Reviews. Not even legends in the calibre of a Larry Williams or a Martin Schwartz will have much luck in currency trading if the broker is unwilling to cooperate – it has an overwhelming role in determining what type of experience you will have as a forex trader. The lack of clear rules and precedents creates great opportunities, but also huge risks for the unprepared ... Dukascopy is one of the largest retail brokers in the world and one of the oldest ECNs available to retail clients. However, it is good to know that it also offers its services to institutional clients. In addition to the MetaTrader 4 platform, it also offers its own version Java-based platform – JForex. Dukascopy is a regulated bank that is authorised in two tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading. Dukascopy's JForex 3 platform suite is highly dynamic and vibrant with features, including an extensive range of charting tools and automated trading capabilities. With mobile, Dukascopy's JForex Trader ... Dukascopy Broker Reviews And Ratings - 2020 (Update) ... The accompanying instruments have trading breaks amid the trading session. I was satisfied to see that Dukascopy offers a demo represent both Forex and binary, merchants. There is additionally an Islamic tab for supporters of Sharia laws. A fascinating element at Dukascopy is the capacity for accounts to be opened by essentially ... Dukascopy Scam Reviews cheat, fraud or an Honest Broker? The Dukascopy project started in 1998 under the direction of Dukascopy Bank SA, located on Route de Pre-Bois 20, ICC, Entrance H, 1215 Geneva 15, Switzerland. Their European branch is Dukascopy Europe IBS AS, located on Lachplesa street 20a-1, Riga, LV-1011, Latvia. This is a licensed ... Switzerland-based forex bank and broker, Dukascopy, has warned customers that forex trading company GCG Asia is fraudulently claiming to be the bank’s authorized firm. In the announcement, Dukascopy Bank cautions that neither it nor any entities of Dukascopy Group have relations with GCG Asia, although the latter fraudulently claims the opposite: “Please mind that contrary... February 02 ... Dukascopy requires a minimum deposit of $1,000, but Dukascopy Europe IBS AS accepts clients from as little as $100. The last notable difference is in respect to maximum leverage which is 1:200 at Dukascopy while Dukascopy Europe IBS AS is confined by EU rules to merely 1:30. Gold accounts, multi-currency accounts, and swap-free Islamic accounts are equally available.
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 ... CLICK HERE FOR MORE INFO: https://rebrand.ly/forex33 And start earning in the Forex Market Now! In our growing multinational company atmosphere, there are bu... Short review of Dukascopy and general review of retail FX accounts. What you need to succeed. Dukascopy review 2020 - dukascopy europe Brokers Review [Pros & Cons] - Duration: 6:03. ... FXPro Review Online Forex Brokers Review by Thediaryofatrader.com - Duration: 7:44. The Diary of a ... Dukascopy review 2020 - dukascopy europe Brokers Review [Pros & Cons] Dukascopy Bank SA, regulated by FINMA, is a Swiss Forex broker that offers both persona... New review API update note for Oanda and Dukascopy forex trading brokers http://quantlabs.net/blog/2017/08/new... Check out DailyForex.com's full Dukascopy review: http://www.dailyforex.com/dukascopy/dukascopy-review/33 Dukascopy Bank is a Swiss online bank providing Int...