What firm is the best broker for the forex trader?
What program do you use to trade the Forex Market?
To find out how traders themselves rate their forex broker, go to elitetrader.com and check out the broker ratings thread. Here is the link: http://elitetrader.com/br/
The list of forex brokers are listed together with different brokers on the left hand column.
I used to trade with FXCM, but chose to move all the funds under my management to OANDA. You’ll find out why later when you check the ratings.
OANDA’s trading platform is java based. I find it easy to use, and you can enter your trades by clicking on that price level in the chart to enter either a limit order or a market order. All accounts are updated in real time, plus their spreads are one of the lowest in the industry today.
Another thing I like with OANDA is that you can open a trading account with any amount. There are no minimum lots to trade. You can open a live trading account with only $1 and trade that account as much as you want, with the same spreads that the big boys trade with. This works well with any risk management profile.
What I don’t like about OANDA’s trading platform is that I cannot enter notes on the chart. Unlike other trading platforms that I have used. But I guess it’s a small trade-off; they claim their developers are working on an upgrade for that.
Hope this helps.
Jim http://jsforex.blogspot.com
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