Pepperstone forex broker or Thinkforex.com

[BILLV]

GFT have the same E.A

However their spreads much wider

There was another thread re I.C. Markets and I note its been deleted for some reason

Bill have you got an account with them? seems everyone that posts about them are new to the forum. Are there no long termers that have a say?

Yes I have, but don't over analyse things. There is no much difference between ICm, pepperstone, Axi etc and unless you're scalping the 1M, half a pip here and there isn't a deal breaker.

If you know how to trade you can make money even with bucket shops, the important thing about a broker is to provide you with the tools you need to trade. eg good trading platform, technical briefs and ongoing training

Ongoing training you can get by various other sources but you still need the other 2 essential tools. For example, my son opened an account with Go Markets because he wanted to get free access to trade central. Someone else could sign up with eg FXCM because he wants to get free access to autochartist etc etc

I hope this helps.

 

[wanelad]

Yes I have, but don't over analyse things. There is no much difference between ICm, pepperstone, Axi etc and unless you're scalping the 1M, half a pip here and there isn't a deal breaker.

If you know how to trade you can make money even with bucket shops, the important thing about a broker is to provide you with the tools you need to trade. eg good trading platform, technical briefs and ongoing training

Ongoing training you can get by various other sources but you still need the other 2 essential tools. For example, my son opened an account with Go Markets because he wanted to get free access to trade central. Someone else could sign up with eg FXCM because he wants to get free access to autochartist etc etc

I hope this helps.

So you have traded with a live I.C account have you withdrawn etc? how have you found their service? Thanks by the way for your response

 

[BILLV]

no I haven't withdrawn, and I don't plan to do it at this stage as I intend to grow the account.
I know some brokers have restrictions on what account the funds can go into but those restrictions are imposed by the authorities. If you look at broker reviews, you'll find that some people complain about broker withdraws when they are not themselves fulfilling the regulatory requirements and they want to withdraw funds without having to fill out forms or to put funds into the wrong account etc.
Brokers could have different rules depending on their regulatory authority.

If easy withdraws are your concern call up each broker and ask them for the process.
If on the other hand you want to trade, look for the one that offers you the tools you need.

 

[wanelad]

no I haven't withdrawn, and I don't plan to do it at this stage as I intend to grow the account.
If on the other hand you want to trade, look for the one that offers you the tools you need.

I.C markets have the tools but most reviews are by posters of only a few months and a couple I found were a bit dubious eg I think by I.C themselves. Their spreads are hard to beat, news and calender in the MT platform

It seems your not fussed about how much brokerage you pay but to me slippage is very important. I would not walk out my front door and through a $20 note on the road so why do it with every trade?

 

[BILLV]

Why are we still discussing this?
Remember you are not buying a house....give brokers a go with a couple of hundred $ mini account and see if they meet your needs

 

[wanelad]

You did not have to respond dont bother if it offends you

 

[BILLV]

GFT have the same E.A
However their spreads much wider

I don't know if the EA is the same but being a US broker you can't place opposite trades so it will be a hassle if you want to use multiple trading strategies. And they also have the FIFO rule, First in first out which is a pain....

 

[wanelad]

GFT has an AU office as well so may not be under the U.S. as under ASIC

I guess where we differ is I am looking at starting an account with 5/10k as do not feel there would be any advantage in minis. Its not the process that worries me as much as the honesty of the company itself

I guess I am only going to learn that the hard way though. Seems odd that there do not seem many long term traders commenting is this suggestive most burn their money never to return? who knows

 

[BILLV]

GFT has an AU office as well so may not be under the U.S. as under ASIC

I guess where we differ is I am looking at starting an account with 5/10k as do not feel there would be any advantage in minis. Its not the process that worries me as much as the honesty of the company itself

I guess I am only going to learn that the hard way though. Seems odd that there do not seem many long term traders commenting is this suggestive most burn their money never to return? who knows

GFT do have an office here and are approved by ASIC but are NFA regulated so forget hedging and using multiple strategies with the same currency pair and you'll be closing the orders as per the FIFO rules.
I know,, I was with them and I also tried their demo today because I wanted to check out their EA.
So you cannot hedge, but you could trade the same currency long and short at the same time by trading FX & CFD's. eg trading long using FX and short using CFD's but its messy.

Re the account size, If you are not an experienced trader, trading minis will shield you from a lot of harm because most traders lose money, its a fact.
Up to you ofcourse and good luck

 

[wanelad]

Thanks