Good day ladies & gentlemen,
I am a novice in the Forex market, and I set up my mind into opening a real account, and I'm asking for your help – to whom should I lose my money?
Just joking, it's just that I am very aware to the fact that this learning experience will cost me a good fee.
My preferences are:

1. No IB's, I want to trade directly to the broker (limiting the dealing desks that may deal against me). Moreover precedence will be given for ECN's. I have something against market maker brokers…
2. Trading via web using MetaTrader4 (for my indicators and EA).
3. Working 24/7 (So no local firms, if you please), with FAST executions – working on the 15M time frame means that I need a fast automatic broker. It's a small plus if the broker has an office in my time zone (GMT+2).
4. Lot and minimum trade size – I want to open a mini account, a micro account will be even better. So the smaller the better.
5. Accept "overnight" (rollover) trading (I usually work on the 15M & 4H time frames, the latter tend to slip towards the next day).
6. Steady quotes. I don't want those fast fluctuations of the quote (aka slippage) that "happens" with some brokers without any correlation to the market, mainly if they catch my SL.
7. Commissions, minimum deposit, margin requirement and spreads – the lower the better. Need I explain?
8. Trading those pairs: USD, GBP, EUR, CHF, JPY, AUD, and CAD.
9. I'd prefer to have a regulated broker, and that my money will be insured from obvious reasons.

Do you think I got it all? What did I miss?

Please specify in your replay:

1. Name of broker.
2. Website.
3. WHY did you pick him? Which criteria does he match (I’ll probably won't find the perfect broker, but I'll settle for the best there is.).

Thank you in anticipation,
CRE666.

__________________
Give a man fire, and he will be warm for a day.
Set a man on fire and he will be warm for the rest of his life...

Unfortunately, MT4 excludes non-dealing desks.

But DD brokers don't have to be bad by definition.


It's or you go with www.mbtrading.com , www.interactivebrokers.com, www.currenex.com, www.hotspotfx.com, www.efxgroup.com, ... (examples of non-dealing desks)

...or you go with a MT4 dealing desk broker.

Also maybe of help: http://www.nondealingdesk.com/

__________________
Take care,
Sulz.

And this is also of good value:

http://www.forexfactory.com/forexfor...ead.php?t=7349

__________________
Take care,
Sulz.

__________________
Give a man fire, and he will be warm for a day.
Set a man on fire and he will be warm for the rest of his life...

No, realy, is not because it is a market maker it is bad. The article in the ForexFactory forum sheds a lot of light on the issue.

There is not much wrong with a broker like www.fxdd.com. They part of a big financial group.

I'm using them and mbtrading as well.

Also no complaints bout Fibogroup, but their offshore registration made me nervous.

There will be more reliable, but above are the ones I use and trust.

__________________
Take care,
Sulz.

...apart from the fact that they don't accept expiration orders, which is just plain silly.........

That is a really irritating feature of FXDD. I had to rewrite the code of a number of systems to be able to test on their platform. I hope someone with FXDD is reading this and changes their settings to be in conformance with the rest of the brokers.