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Re: Best Forex Brokers
[Re: Proomer]
#421472
04/17/13 21:23
04/17/13 21:23
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acidburn
Unregistered
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acidburn
Unregistered
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Looking at what others have requested I think that the best brokers to add to the existing FXCM is LMAX and Interactive Brokers. LMAX has very low spreads, typically 0.1-0.3 pips, many times lower. The commission is $5 (100k lot) round turn (about 0.5 pip). Compare that to many other Forex brokers and it is obvious that LMAX is very interesting. After a lot of investigation, I must agree that LMAX is a very interesting broker. Actually, they're not even a broker, but a MTF (multilateral trading facility) and as such, one of a kind. Beside low spreads, reasonable commission and very fast execution, they also offer various API access methods: "With messages available in XML/JSON format clients can either choose to develop their own wrapper or use our customisable Client Libraries (Java, .NET) or our FIX protocol to simplify the integration." More info on LMAX: http://www.lmax.com/http://www.lmax.com/trading-tech/accesshttp://www.euromoney.com/Article/3115737/LMAX-Exchange-An-FX-exchange-for-a-new-era.htmlhttp://www.automatedtrader.net/articles/...-the-status-quoI understand that MT4 is extremely popular among forex traders, and that developing plugin for MT4 would mean much for Zorro popularity, but LMAX would be so much better for automated trading. We all know that MT4 is made primarily for market makers (dealing desks) and that it is slow, cumbersome and unreliable.
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Re: Best Forex Brokers
[Re: Geek]
#423093
05/24/13 02:36
05/24/13 02:36
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Joined: May 2013
Posts: 87 Boone, NC USA
GlennR
Junior Member
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Junior Member
Joined: May 2013
Posts: 87
Boone, NC USA
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I like the look of LMAX and Interactive Brokers, would be great to have these broker type options implemented in Zorro like FXCM. Since I'm new & shopping for a broker I did a quick reviews check on those brokers. IB did not have the greatest reviews, mainly Customer Service was terrible. LMAX had glowing reviews, actually the best I recall seeing for any broker so far (probably 40-50 or more in the past couple of days), but their minimum deposit is $10K. That's more than Zorro allows, and more than I am comfortable to begin FX trading with. Does anybody have any good brokers to recommend for US traders? Is FXCM the only broker that Zorro will work with?
Last edited by GlennR; 05/24/13 03:11.
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Re: Best Forex Brokers
[Re: SFF]
#425076
06/26/13 10:54
06/26/13 10:54
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acidburn
Unregistered
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acidburn
Unregistered
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And after LMAX is added, it looks like Dukascopy could be the next candidate.
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Re: Best Forex Brokers
[Re: jcl]
#425094
06/26/13 17:35
06/26/13 17:35
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Joined: May 2013
Posts: 87 Boone, NC USA
GlennR
Junior Member
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Junior Member
Joined: May 2013
Posts: 87
Boone, NC USA
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Zorro works with 90% of all brokers. jcl, Does that mean Zorro works automatically with them, like with FXCM where we just type the account # and pass code into the Zorro panel? If so, we should be able to run demos with a different broker instead of going to the trouble of a VPS or separate computer running 24/7. But it's not that simple, we need to create a broker dll for them first, right?
Last edited by GlennR; 06/26/13 17:59.
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