Hi guys..
I’m relatively new to Forex and trading, been trading demo for 6 months on several platforms from different brokers such as Forextime/FXCM/FxOpen/Hotforex/Octatrader/Ironfx/ThinkForex/FXCC to name a few, trying to get a feel for their spreads, execution times, slippage/re-quotes if any and learning what kind of trading style suits me
I developed my strategy around scalping, hedging and day trading, sometimes intra-day trading. I had started off mainly trading metals and major forex pairs since they were the popular one’s. And to be honest, I found most of the brokers similar in terms of spreads, execution and all that leaving me indecisive whom to trade live with, but a few exceptions
Then I narrowed it down to technicalities. I would choose a STP/ECN broker, 5 decimal points, obviously allowing scalping/hedging/EA, and since I’m a muslim I definitely required the broker to have a SWAP-FREE option with their accounts which I could trade on Mt4
Realistically, these are the specs I would trade live with
- STP/ECN account with 500$ deposit and 1:10 lev
- SWAP-FREE
- Scalping, hedging, EA etc
- Must be on Mt4
- Needless to say, tight spreads and low costs
- Decent number of pairs/CFD’s/Commodities/metals
This is where I need help/suggestions from the more experienced traders here since I haven’t yet traded live with anyone. Which do you guys think would be a good choice for me?
Any help much Appreciated!
I’m relatively new to Forex and trading, been trading demo for 6 months on several platforms from different brokers such as Forextime/FXCM/FxOpen/Hotforex/Octatrader/Ironfx/ThinkForex/FXCC to name a few, trying to get a feel for their spreads, execution times, slippage/re-quotes if any and learning what kind of trading style suits me
I developed my strategy around scalping, hedging and day trading, sometimes intra-day trading. I had started off mainly trading metals and major forex pairs since they were the popular one’s. And to be honest, I found most of the brokers similar in terms of spreads, execution and all that leaving me indecisive whom to trade live with, but a few exceptions
Then I narrowed it down to technicalities. I would choose a STP/ECN broker, 5 decimal points, obviously allowing scalping/hedging/EA, and since I’m a muslim I definitely required the broker to have a SWAP-FREE option with their accounts which I could trade on Mt4
Realistically, these are the specs I would trade live with
- STP/ECN account with 500$ deposit and 1:10 lev
- SWAP-FREE
- Scalping, hedging, EA etc
- Must be on Mt4
- Needless to say, tight spreads and low costs
- Decent number of pairs/CFD’s/Commodities/metals
This is where I need help/suggestions from the more experienced traders here since I haven’t yet traded live with anyone. Which do you guys think would be a good choice for me?
Any help much Appreciated!