ECN or MM?

[santana55]

I am new to FX coming from futures and have read a lot of conflicting information about choosing the right broker. There are concerns that most market makers manipulate information for their own benefit (trading against their clients, stop hunting, changing spreads to their advantage, providing inaccurate chart data, etc.). Then there are those saying ECN's charge overly high commissions per trade and costly rollover.

I just want to be treated fairly and due to my longer time frame trading style need accurate chart data. I also want my funds to be safe.

Any advice or insight anyone could provide would be greatly appreciated.

 

[everyonerich]

FX Products

 

[santana55]

Thanks but I'm not looking to trade currency futures. I want to trade a micro account and with futures the minimum value per contract is much higher (even with a mini contract and the mini's liquidity sucks).

 

[everyonerich]

Thanks but I'm not looking to trade currency futures. I want to trade a micro account and with futures the minimum value per contract is much higher (even with a mini contract and the mini's liquidity sucks).

then no such broker available. have to use bucketshop

 

[santana55]

Thanks for your feedback. I was thinking about Oanda as well. It seems they might be the most reliable "bucket shop" out there.

I am trading long term positions (daily and hourly charts) but I am looking at price action including pin bar setups so I don't want to be looking at inaccurate charts that might display false spikes and pin bars.

I heard MB Trading (an ECN) allows you to trade micro accounts but they have a high commissions and high rollover (and I will be holding positions beyond a day) so I'm not sure if they make sense. Additionally I heard they are somewhat undercapitalized and may not be around for long.....

Is someone like Oanda problematic when it comes to withdrawing profits? (a lucky problem to have I would imagine)