trading forex commission
Best ForEx trading site?

What is a good online ForEx broker who executes trades quickly, has real-time charting and low (or no) commissions? I see myriads of sites out there. Are any above and beyond the others?

There are plenty of decent brokers. You should start by asking yourself a few questions and then use your answers to narrow down the broker.

1) How large of an account. If you plan on trading more than 100k you will want to use a broker with better liquidity. The larger your account the more important “broker financial stability” will be because if that broker goes out of business you risk losing some or all of your money held there.

2) What trading strategy are you planning on using? If plan to scalp you will need to choose a broker who does not restrict scalping or place minimum time limits on positions. If you plan on trading a carry trade system you will need to research the brokers swap(rollover) rate and find the most competitive broker.

3) What currency pairs do you expect to trade? Depending on a brokers liquidity sources the broker may have better or worse spreads on different pairs. (MB for instance usually always beats Dukascopy’s GBP pair spreads but Dukascopy usually has much better CHF pair spreads).

4) ECN/STP vs. Market Maker. I won’t get into much detail here because I don’t have that much time or room…. but both broker types have their advantages and disadvantages. You will want to decide which type of broker fits your situation best.

5) Fixed spread vs. Variable spread. Do you mainly stick to high-volume market times for your trading or do you get signals around the clock. A fixed spread broker may be better if you trade asia or off market times while a variable could save you money if you stick to London and early New York.

6) Metatrader or other platform. Metatrader is the most common but there are plenty of others. Open a few demo accounts with different brokers to get a feel for the different platforms. Choose the one that fits your style best.

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