Forex Trading #1: Retail Market Makers … Beware
February 7th, 2010
www.forexcoachingpros.com http Stephen Story (FX Trader, Author, and Coach) gives tips and advice regarding what kind of broker the beginning Forex trader should employ. Your forex strategy and forex trading system is totally effected by the kind and type of broker you employ. Part of being a forex strategist is knowing who you are trading against on the other side.
Categories: Forex Trading
You are welcome.
Interbankfx is an agressive Market Maker who turns control of the trade platform over to their liquidity provider so they can claim to have no dealing desk. They are not an ECN broker, and the delay tactics of their liquidity provider are frequent.
Listen to all of the Tips on Trading videos and you will get the answers, but here are a few.
MBTrading (Bad Charts, but $400 Micro account)
PFGBest Direct (ask for Ricardo or Patrick and tell them Stephen Story sent you. They will allow you to start as low as $1000 deposit in a Mini account. $2000 minimum is best for Minis).
…..Stephen Story
I agree with most of what has been said about MB Trading, accept that it’s best to start with a small amount, rather than a larger amount in a live account. Never test your emotions on a large account. Put the majority of your $ to the right education that will teach you to multiply a small amount of $ into a lot, in a short period of time. Never take much risk in live trading. Low risk means less emotional interference …Stephen Story
You’re not giving any advice on which broker to choose apart from the retail broker.
What are your views on Interactibe Brokers btw?
thanks…
I want to hear from ForexCoachingPros as who is considered a retail market broker? Alpari? FXDD? Can you name some brokers please? Everybody leaving comments on this video are asking the same thing, so I think you should name brokers….
Thanks for the videos. Im watching everyone from # 1. How can you beat brokers? Become smarter than them? Now let them beat you?
all the fx …same??
Is it possible to start trading with MB with as little as $300?
how about Interbank FX?
is it safe to give particulars to other people?
you have to go to an ECN broker… I use MB Trading….in El Segundo California…their platform is difficult…but spread and executions are good…good luck…
I hear this all the time yet no one out there will tell you which broker to use. Why? If they know so much, why don’t they tell us which broker is honest?
MBT
ATC
so where do the little guys go..?
I totally agree.
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