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/biz/ - Business & Finance

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696982 No.696982 [Reply] [Original]

hey /biz

What forex broker do you use?

Based on a recommendation when I first got into currencies about a year ago, I opened an account with FXCM. I like their charting platform, but admittedly I don't have a lot experience with anybody else.
They've had legal trouble in the past, and then there's the whole A book vs. B book thing. I'm leaning toward closing my account and moving to an A book broker.

Opinions?

http://news.forexlive.com/!/fxcm--confirmed-these-clowns-really-are-totally-clueless-20150324
http://www.abundancetradinggroup.com/what-is-a-book-vs-b-book-in-forex-trading/

>> No.696986

Find a broker that actually charges commission instead of making up fictitious bid/ask spreads and ripping you off.

>> No.696990

>>696986
One of the major problems of forex compared to something with a central exchange like futures.

>> No.696991

Don't use MT4, they'll fuck you on every order.

>> No.697000

>>696986
any suggestions?

another good link I just found
https://www.mql5.com/en/blogs/post/321688

>> No.697001

>>696986

btw fxcm charges commission you can also get it where you don't even pay the spread and are even able to profit off of the negative spread alone

>> No.697002

>>697001
how so?

>> No.697004

>>697002
I'd also like to know this. I didn't even know FXCM offered commission based.

>> No.697010

>>697004
https://archive.moe/biz/thread/338386/#339702
I also like to post the only useful thread on Forex ever posted on this shithole

>> No.697015

>>697002
>>697004

Since they've moved to a commission based model, spreads went from 2-3 pips to .02~ on average now. During times of extreme liquidity, you'll the spread often go negative.

>> No.697024
File: 1.65 MB, 200x150, heh.gif [View same] [iqdb] [saucenao] [google]
697024

>>697015
negative spreads....
i've never seen that shit

>> No.697030
File: 13 KB, 420x313, butts.png [View same] [iqdb] [saucenao] [google]
697030

>>697024

>> No.697040

>>697030
so, what's your net for all that?

>> No.697045
File: 1 KB, 76x71, kek.png [View same] [iqdb] [saucenao] [google]
697045

>>697040

I still don't even know how to explain it.

>> No.697048
File: 9 KB, 480x239, GAINS.png [View same] [iqdb] [saucenao] [google]
697048

>>697045

It went for 15 hours straight.

>> No.697054

>>697045
say wha?

try to explain! why isn't your profit eaten by commission?

>> No.697060

>>697054

>>697048

It severely was.

>> No.697084

>>697060
what position size are you taking? how are you taking your entries and exits?

>> No.697101

>>697060
ok i'm going to bed, but if you're not full of shit, teach me!

>> No.697106

>>697084

The maximum I could take, and I was just simply clicking away. (1 click rules) Literally when the spread is negative, you don't care about anything other than how fast you can reverse your position and how many times you can do that. (liquidity problems)

>> No.697132

>>697101
This guy.

How to set up acct to make this happen

>> No.697221
File: 1.27 MB, 1000x1500, 1426985615558.jpg [View same] [iqdb] [saucenao] [google]
697221

>>697024
I encountered negative spreads for the first time when I recorded a few months of data and ran it through a simulator I was building. I had a sanity check that ensured bid was <= ask, and it was getting tripped when replaying the data.

Did some research and found out it's legit. Spreads can indeed go negative.

>mfw

>> No.697501

>>697221
>>697221
So after your post, I went back to my platform and saw negative spreads on the cable. So you're scalping it and collecting those spreads? What kind of profit did you make on 12,000 pips?(or is that a decimal comma like is used in Europe?)

>> No.697512

>>697501

That was a snapshot of the profit at that time. I was literally reversing my position every single click. That's essentially a trade per second. I forget how many trades I did but I sat there for a long, long time.

>> No.697545

>>697512
So was it worth it? What'd you make?

>> No.697559

>>697545

>was it worth it
Are you fucking retarded?

>> No.697573

>>697559
What platform are you using? I have a FXCM account and am using multi-trader 3.3xx. How did you set up so you are not paying the spread. What indicator are you using? TY

>> No.697619

>>697573

The dealing rates...

>> No.697740
File: 1.04 MB, 290x189, iEtd2kb.gif [View same] [iqdb] [saucenao] [google]
697740

>>697101
>>697132
>>697501
>>697545
>>697573

>> No.697801

>>697559
I guess so. I still can't figure out how much you made, whether your p/l is 12 or 12000, and frankly how you did that because I see a negative spread so rarely.

>> No.698052

>>697801

The number is clearly 12,679.42

Absolutely mind boggling.

>> No.698177

>>698052
yes indeedy. thanks for the idea. i'm going to play around and see if i can't do something with it.

>> No.698250

How often does this shit happen?

>> No.698446
File: 464 KB, 1805x916, meinseidsssss.png [View same] [iqdb] [saucenao] [google]
698446

>>697010

whoever made this picture deserves a fucking firm handshake. This is what the ichimoku indicator looked like the first time i saw it.