I am going to trade through MT4, using an EA. I will use a 10k account.
I am in USA.
I was told this one is very good, but I need a second opinion. I have never traded live before, so I want this first time to be a good experience.

Please tell me what you think about this broker, if you have used it. Even if you havnt- I will value your opinion.

IF you know of any other great brokers please tell me!!

Thanks.

velocity 4x has been discussed a lot in this thread http://www.forex-tsd.com/metatrader-...elocity4x.html

i posted in this thread some guidlines on what one can do to figure out if a broker is the right one for you, personally.

don't be afraid to ask a broker head on of things ou find important. most brokers have live chat on their website, where you can ask about what you want to know. you might want to bring up issues like if they stop shop, if they chang their spreads, if they are open 100% of the time the market is open, what kind of insurance they have to their client's if they go bankrupt, and other issues you see important.

__________________
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What is the update on Velocity 4x? I wanted to open an account with them but not after all this negative posts about them having server problems, etc. However, that was 2 months ago. What is the update on them, please?

We introduce our customers to Velocity4X, there have been no server issues that I have heard of and there service as well as pricing has been excellent.


Mike




Forex Mentor Program, Free Forex Software, Free Esignal Data, Free Training

I recently opened an account with Velocity4X. I just requested funding and that process is still incomplete. My experience so far with Customer Service is very good, as I have called them twice and they were very helpful.

Even before funding, you can open the account in MetaTrader4 and view the charts, which I have done several times. In doing this, I noticed that on GPB/USD (Cable), the advertised spread of 3 pips varied frequently as I sat and watched it. At first, it was usually 4 and roamed from 3 to 5. This is for extremely low volatility. The Demo server, by contrast, is rock solid at 3 pips spread. This is of some concern, and I'm thinking of calling them about it.

Also, when comparing the Demo server charts with the Real server charts, they ARE different...I would say about as different as you would find between two different brokers. Consequently, you get somewhat different behavior on your indicators between the demo charts and the real charts. I compared the charts by looking for undesirable behavior on the real 5 minute Cable chart, such as excessive spikes that weren't also on the demo server and I didn't see any.

For my own strategy, I don't expect the differences between the demo and the real data to be a problem. But I've read several opinions on these forums that demo trading and real trading are not the same. I do hope that trade response time and opening trade prices will be similar on both servers. A successful trading experience with a broker is the only thing that can lead to a lasting relationship and good recommendations to others. All brokers should be aware of that. It's only good business.

__________________
Success is more perspiration than inspiration . . .

Just a quickie note...I discussed the spread with a Velocity4x rep. He switched me to a different server. Now (after only a single viewing) the advertised spreads seem to be stable at the advertised level. I know this brief check isn't much, but it may be an improvement.

I do now have some concerns about what some members are saying about the liquidity of some of these smaller firms. I may inquire about that, as well.

__________________
Success is more perspiration than inspiration . . .