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Old 05-10-2007, 02:47 PM
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Talking Choosing your Broker...
Here is a link that I have found helpful. Take a look at the line labeled "Excess Net Capital". If your broker doesn't have enough "excess capital", then they won't be able to pay you if you have a strong month. I have had that happen to me before, it sucks..!

Your broker might not be as "liquid" as you think...

http://www.cftc.gov/files/tm/fcm/tmfcmdata0703.pdf

This pdf post is updated regularly by the CFTC...

Note: If your broker is not listed on this report then it's probably one of 2 reasons. 1) they are registered only as an IB (introducing broker) with the NFA 2) or they aren't registered at all..!! (even worse)
Last edited by riffster : 05-10-2007 at 11:00 PM.
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Old 05-10-2007, 04:53 PM
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Sorry forgot to mention that if your broker doesn't appear on the list because they are registered as an IB only with the NFA, then you would need to call your broker and find out who is clearing the trades... and if they won't tell you...!?? you get the idea.... time to find a new broker.......

Happy hunting...
Last edited by riffster : 05-10-2007 at 10:58 PM.
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Old 05-10-2007, 05:18 PM
BadBoy BadBoy is offline
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Quote:
Originally Posted by riffster
Sorry forgot to mention: if your broker doesn't appear on the list, then they are probably registered as an IB only with the NFA.

You would need to call your broker and find out who is clearing the trades... and if they won't tell you then.... you get the idea....

Happy hunting...
I just chatted with www.rfxt.com and they seems to be good, since you are the man with experiance, what do you think of them, currently I am with IBFX and they are killing me during the news

Thanks a lot for your help
Sam
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Old 05-10-2007, 05:25 PM
Maximus Maximus is offline
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Who is clearing for Northfinance... thx Max
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Old 05-10-2007, 06:06 PM
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Quote:
Originally Posted by BadBoy
I just chatted with www.rfxt.com and they seems to be good, since you are the man with experiance, what do you think of them, currently I am with IBFX and they are killing me during the news

Thanks a lot for your help
Sam
Yea, I posted some info on Royal Forex. I know some of the guys that started it. I would give them a chance, BUT if anything "strange" even started to happen, I would bail fast...!

Don't news trade with them, they hate news traders and will make you pay for it... I would call back and ask or Tim or Justin. Let them know that you "know" me, wink, wink, ( Dan Campbell ) so hopefully they will leave you alone and let you trade. I have a few other "friends" trading there and they are happy so far...

Please let me know if you decide to use them and you have problems, I will stop promoting them...
Last edited by riffster : 05-10-2007 at 06:17 PM.
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Old 05-10-2007, 06:10 PM
pupsik pupsik is offline
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Question about multipairs backtesting.
Good day for everybody!
Sorry to be little off topic.
Please, help me with www.forexgen.com!
They claimed, that they have multipairs strategy tester on there MT4 platform.Since I am into hedging metod, I was looking everywere for multipairs tester, but could not find it. If anybody using there service,give me notice about this(possibility of multipairs tester at MT4).I cannot download there platform completly, maybe because they dont cover Russia. But, if you in Europe or in the States, they have free 30 days trial for that countres.
Thank's in advance!
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Old 05-10-2007, 06:17 PM
BadBoy BadBoy is offline
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Quote:
Originally Posted by riffster
Yea, I posted some info on Royal Forex. I know some of the guys that started it. I would give them a chance, BUT if anything "strange" even started to happen, I would bail fast...!

Don't news trade with them, they hate news traders and will make you pay for it... I would call back and ask or Tim or Justin. Let them know that you "know" me, wink, wink, so hopefully they will leave you alone and let you trade. I have a few other "friends" trading there and they are happy so far...

Please let me know if you decide to use them and you have problems, I will stop promoting them...
Thanks a lot riffster, I have chatted today with Rayan Elannan (President & Co-Founder) he was a ture gentelman and I am planning to use them, but indeed I need to my orders to be filled during the news, so now I am a bit worried , I am not sure should I go a head or try to find another MT4 broker, my main problem with IBFX is the widen the spread during the news, and I am trying to find a good broker with a fixed resnable spread rate, do you recomend any ?
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Old 05-10-2007, 06:26 PM
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Quote:
Originally Posted by Maximus
Who is clearing for Northfinance... thx Max
Sorry, I don't know anything about Northfinance. If they offer MetaTrader, it's a good bet that FXLQ is clearing the trades ( and that's not good ). I would just give them a call and ask how they are clearing the trades. If they just say "large banks", ask which ones, etc... keep pushing until you get the info you need... remember it's your money..!!
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Old 05-10-2007, 11:23 PM
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Exclamation Northfinance Update
Quote:
Originally Posted by Maximus
Who is clearing for Northfinance... thx Max
Northfinance Update! Their liquidity provider is FXTEAM. FXTEAM actually owns Northfinance, along with a slew of other brokers all over the world. It's unclear if they are an ECN or market maker. However, given the minimal info on their website ( just like FXLQ ) I would guess market maker, with a very advance dealing desk. FXLQ provides liquidity for brokers like InterbankFX and others. The FXTEAM site claims that one of their brokerages are register with the FSA in London, but I couldn't find it on their web site...

Happy hunting...
Last edited by riffster : 05-10-2007 at 11:32 PM.
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Old 05-11-2007, 10:03 AM
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Quote:
Originally Posted by BadBoy
Thanks a lot riffster, I have chatted today with Rayan Elannan (President & Co-Founder) he was a ture gentelman and I am planning to use them, but indeed I need to my orders to be filled during the news, so now I am a bit worried , I am not sure should I go a head or try to find another MT4 broker, my main problem with IBFX is the widen the spread during the news, and I am trying to find a good broker with a fixed resnable spread rate, do you recomend any ?
It has been my experience that true ECN's are the only brokers that will continually allow you to scalp the news. It's just a bit harder to get filled during news using an ECN because liquidity dries up...

and fyi: MetaTrader is not compatible with an ECN setup, i.e. any broker using MT4 won't and can't be an ECN. They have to use dealing desk software in conjuction with MetaTrader...

Sorry, hope that helps...
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