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.
All variables considered Dukascopy finished in 4th place Overall (out of 30 brokers) in our 2020 Review, earning its spot among the highest-rated forex brokers in the industry. About Dukascopy In 1998, mathematician Dr. Andre Duka founded Dukascopy Trading Technologies Corp, which led to the development of the Dukascopy trading platform in 1999. Read our in-depth Dukascopy review 2020 covering Dukascopy licenses, forex spreads, trading leverage, deposit & withdrawal and user reviews. Dukascopy Review. The Dukascopy Bank SA, controlled by FINMA, is a Swiss Forex handle that offers both individual retail Forex trading and binary accounts. They additionally have a broad business to the business division and give organization chances to banks, money related establishments, and customer referral rewards. Dukascopy has been around since 2004 and the organization prides itself on ... Unlike most other forex review sites, Forex Scam Alerts does not receive financial compensation from Dukascopy. Don’t open a Dukascopy account before reading this. Visit Dukascopy’s website. Brief Background: Dukascopy Bank is a Swiss bank that was founded in 2004 in Geneva, Switzerland. However, the company has its roots in the 1990’s as ... Dukascopy is an online forex broker. Dukascopy offers the MetaTrader 4,SWFX mobile, and JForex online currency trading top platforms. Dukascopy.com offers over 40 currency pairs, CFDs, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options. Dukascopy. 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... Regulation: FINMA. Rating & Review Review Dukascopy Bank, a Swiss online bank and brokerage, was founded in 2004 in Geneva, Switzerland, after having been in development for six years. It maintains complete oversight of three operating subsidiaries and is one of the most innovative brokers in operation today. Technology fulfills a primary role at Dukascopy; in 2019, it became the first Swiss bank to offer its own cryptocurrency ... Dukascopy Review. Dukascopy was founded in 2004 by Dr. Duka as a Swiss brokerage house in Geneva. In researching for our Dukascopy review, we found that the broker was developed the Swiss FX market in 2006, which is an ecosystem supporting traders with applications and platform infrastructure.. They also procured a Swiss banking license in 2010 and launched Dukascopy Bank. Is Dukascopy safe? How competitive are their fees? If you're considering opening an acount, this Dukascopy review is a *must-read* Compare Dukascopy against brokers like AvaTrade & Plus500 in this up-to-date comparison of Dukascopy's fees, platforms, features, pros and cons and what they allow you to trade in 2020. After getting the reply from Dukascopy, i would like to mention JOSE MEIMIJE CLEARLY MENTIONED IN HIS EMAIL THAT HE NEEDS THE STATEMENT HOW MUCH PROFITS I GAIN FROM FOREX.....TEAM DUKASCOPY, YOU HAVE SKIPPED IT? You the guys are not satisfied for my current business. And inspite of giving my business's each and every information and clarification you rejected it everytime. Country wise ...
Dukascopy Review By PFOREX.COM PFOREX. Loading... Unsubscribe from PFOREX? ... Dukascopy vs Oanda vs FXPro forex API trading - Duration: 18:28. Bryan Downing 5,381 views. 18:28 . How to Pay Off ... Dukascopy Review — Forex Brokers Reviews. Dukascopy Review — Forex Brokers Reviews. Skip navigation Sign in. Search. Loading... Close. This video is unavailable. Watch Queue Queue. Watch Queue ... Trading in the forex market is quite basic. All currency is done in pairs because one needs to convert a specific currency to another. Each currency has a set value or price and this can be ... http://www.forexproductsreport.com/go-to/dukascopy.php - Dukascopy is a Swiss brokerage that is more geared towards advanced traders with larger accounts or ...