New to forex

[Kevin21]

Hey,
can anyone recommend a forex broker? I've decided i want to expand my horizon and give the forex markets a go, as well as spread betting on indices. From the reading i've been doing today i've looked at forexyard and tradexindo. Also do any forex brokers allow you to use automated trading?

Many Thanks

Kevin.

 

[Hoggums]

Hey,
can anyone recommend a forex broker? I've decided i want to expand my horizon and give the forex markets a go, as well as spread betting on indices. From the reading i've been doing today i've looked at forexyard and tradexindo. Also do any forex brokers allow you to use automated trading?

Many Thanks

Kevin.

Why not trade forex using your SB? It's tax free unlike any forex broker and allows you small trade sizes while you are still learning.

If you are looking for automation - oanda have an API - but it costs £350 a month when I last looked. It requires you to be pretty proficient at programming. I would be careful though as oanda widen spreads during announcements - and that's something difficult to include in any backtest.

 

[idetkov]

You can try Intereactive Brokers. The API is free and you can trade whatewer you like.

 

[Kevin21]

i currently spread bet using CMC markets but i hate their charting software with a passion, so i use sharescope pro. However, the problem is that this set up isn't good for day trading because the live prices i get on my charts are different to the spreads the cmc are offering. For example say sharescope says the dow is trading 13600 then most of the time cmc offer is 7-10 points behind that, plus with a 4 point spread. So the opportunties i get on my graph to make 10 points here and there either just break even if i'm lucky or are losses.
I opened a demo account with tradexindo and i love their platform so far, and i've got +52 pips out of it from just having graphs that add up with the bid and offer. What is the tax like if i go with a broker?

 

[jonj]

its a good question,theres 100s of them out there!!
im a newby to forex hopeing to open an account soon.at the moment im using forexyards demo,all seems well but am lookin for lower spreads(lower than 3 pips)although at least fxyards spreads dont seem to widen during volatility.
two points:
does anybody know any reason why i shouldnt go with fxyard?
can anybody tell me how much diference between the demos and the real accounts??