I posted this on the IBFX forum but then i figured the answers might be biased alittle bit haha so maybe I can get a better opinion here
Hi, I am trying to pick a broker for myself for a while now. I brought it down to two brokers. Either Oanda or IBFX. I am having a problem deciding tho. I do trade the news and I will start with a mini account. Now Oanda has alot of advantages.
- It allows to trade any amount
- Its suppose to have fast execution
- The spread is capped off at 15 pips according to their chart but usual news spreads are at 10
- I can fund my account with paypal
- They have a forum
- It is located in Toronto, Canada which is where I am
Unfortunatly its not exactly what I thought it would be. I just tried trading the NFP and I got several error messages before they filled my order. I didn't actaully lose anything on it because the price just bounced around and I ended up with approximatly what I wanted. I probably even benefited because the spread dropped right away and I only paid 1.5-3 pips. But that is not the point. Also initially the spread did go all the way up to 15 pips. and finally I really really dislike the platform compared to MT4.
Now I was thinking of IBFX because
- They allow to trade mini and micro lots which is just as good as trading
any amount for me
- I can use MT4
- They have a forum
- They seem like nice people.
But I'm alittle bit worried about them too. So I'd like to ask a couple of questions here.
1) How big could the spread get here?
2) How fast is the execution during NFP and similar market movers
Thank you
Hi, I am trying to pick a broker for myself for a while now. I brought it down to two brokers. Either Oanda or IBFX. I am having a problem deciding tho. I do trade the news and I will start with a mini account. Now Oanda has alot of advantages.
- It allows to trade any amount
- Its suppose to have fast execution
- The spread is capped off at 15 pips according to their chart but usual news spreads are at 10
- I can fund my account with paypal
- They have a forum
- It is located in Toronto, Canada which is where I am
Unfortunatly its not exactly what I thought it would be. I just tried trading the NFP and I got several error messages before they filled my order. I didn't actaully lose anything on it because the price just bounced around and I ended up with approximatly what I wanted. I probably even benefited because the spread dropped right away and I only paid 1.5-3 pips. But that is not the point. Also initially the spread did go all the way up to 15 pips. and finally I really really dislike the platform compared to MT4.
Now I was thinking of IBFX because
- They allow to trade mini and micro lots which is just as good as trading
any amount for me
- I can use MT4
- They have a forum
- They seem like nice people.
But I'm alittle bit worried about them too. So I'd like to ask a couple of questions here.
1) How big could the spread get here?
2) How fast is the execution during NFP and similar market movers
Thank you