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Your advices, reviews about broker

  #1 (permalink)
thomasz1
Namur, Belgium
 
Posts: 3 since Apr 2020
Thanks Given: 1
Thanks Received: 1

Hello, i'm new to futures (coming from forex) and i'm trying to find a good broker to trader Futures,commodities,energy and currencies (all i can analyze with mt4 ahah except equities).

For example i would like to trade natural gas but i can't with a bucket shop where the spread is the height of my screen -_-

I've heard good things about IBKR, but i'm really preoccupied by anormal spikes on some instruments like usdtry for example. Spikes that we don't find on any other broker, but IBKR boast about their huge liquidity, so i can't accept a" oh sorry just illiquid market".
This + margin problem i'm not really reassured anymore.

I can't risk my account at russian roulette every trade so hope you'll can enlighten me on the subject ( I've asked the question to their support without answers).


So, if you have an opinion on this problem or ideas of good other brokers which meet my requirements you'll be my saviour :

I don't need
-------------
amazing plateform with a lot of tools,etc => i do my analyzis on mt4, i'll just put my order with the broker
Super fast execution for scalping,etc => i'm a day trader but swing trader, i don't need to play with nano seconds problematics

I need
-------
Low spreads => i trade 1minute candles often, can't have a 3pips spreads on all yen for example or demential spreads on energies,etc.

Safety and professionalism (correct liquidity,support,practice,etc) => nothing possible without that, don't want huge slippage 50% of my trades ,etc.



Cheers from Belgium

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  #2 (permalink)
 RDK91 
Antwerp
 
Posts: 455 since Jun 2016


thomasz1 View Post
Hello, i'm new to futures (coming from forex) and i'm trying to find a good broker to trader Futures,commodities,energy and currencies (all i can analyze with mt4 ahah except equities).

For example i would like to trade natural gas but i can't with a bucket shop where the spread is the height of my screen -_-

I've heard good things about IBKR, but i'm really preoccupied by anormal spikes on some instruments like usdtry for example. Spikes that we don't find on any other broker, but IBKR boast about their huge liquidity, so i can't accept a" oh sorry just illiquid market".
This + margin problem i'm not really reassured anymore.

I can't risk my account at russian roulette every trade so hope you'll can enlighten me on the subject ( I've asked the question to their support without answers).


So, if you have an opinion on this problem or ideas of good other brokers which meet my requirements you'll be my saviour :

I don't need
-------------
amazing plateform with a lot of tools,etc => i do my analyzis on mt4, i'll just put my order with the broker
Super fast execution for scalping,etc => i'm a day trader but swing trader, i don't need to play with nano seconds problematics

I need
-------
Low spreads => i trade 1minute candles often, can't have a 3pips spreads on all yen for example or demential spreads on energies,etc.

Safety and professionalism (correct liquidity,support,practice,etc) => nothing possible without that, don't want huge slippage 50% of my trades ,etc.



Cheers from Belgium

Greetings fellow Belgian trader

I am not sure what caused these spikes, probably someone else can give you an answer on that. However i do notice this is a demo chart you posted, it might just be a glitch in their demo environment. Maybe someone with a funded IB account here could check if these spikes also appear on a live chart?

Just to add, if you are looking to trade multiple assets including spot FX, IB probably is the best and safest choice out there. You can check their financials here:

https://www.cftc.gov/sites/default/files/2020-02/01- FCM Webpage Update - February 2020.pdf

As you can see they are one of the biggest, if not the biggest retail broker out there. So safety definitely isn't an issue with them. Keep in mind that contacting the support/opening an account might take longer than usual due to the Corona crisis.

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  #3 (permalink)
thomasz1
Namur, Belgium
 
Posts: 3 since Apr 2020
Thanks Given: 1
Thanks Received: 1



RDK91 View Post
Greetings fellow Belgian trader

I am not sure what caused these spikes, probably someone else can give you an answer on that. However i do notice this is a demo chart you posted, it might just be a glitch in their demo environment. Maybe someone with a funded IB account here could check if these spikes also appear on a live chart?

Just to add, if you are looking to trade multiple assets including spot FX, IB probably is the best and safest choice out there. You can check their financials here:

https://www.cftc.gov/sites/default/files/2020-02/01- FCM Webpage Update - February 2020.pdf

As you can see they are one of the biggest, if not the biggest retail broker out there. So safety definitely isn't an issue with them. Keep in mind that contacting the support/opening an account might take longer than usual due to the Corona crisis.

Oh an Antwerp boy
You're full time trader ?

Thank you for your lights and this graph (i don't understand all the columns but i see huge amounts like big banks,etc., it talks for itself ahah) it reassures me
I
And yeah i've found that strange to imagine spikes like that, huge slippage or some SL chase like crooks bucket shop manipulation but i need to be sure it's important so, yes, if someone can see it the real datas are the same it would be great.

By the way i've also read than margin could be phenomenal with IBKR, so if someone has a feedback on that i'm interested
So if someone has some numbers or example to give me on this subject it'll be appreciated ( my english is not great so it's not always easy to find myself)

thank you guys

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  #4 (permalink)
 RDK91 
Antwerp
 
Posts: 455 since Jun 2016


thomasz1 View Post
Oh an Antwerp boy
You're full time trader ?

Thank you for your lights and this graph (i don't understand all the columns but i see huge amounts like big banks,etc., it talks for itself ahah) it reassures me
I
And yeah i've found that strange to imagine spikes like that, huge slippage or some SL chase like crooks bucket shop manipulation but i need to be sure it's important so, yes, if someone can see it the real datas are the same it would be great.

By the way i've also read than margin could be phenomenal with IBKR, so if someone has a feedback on that i'm interested
So if someone has some numbers or example to give me on this subject it'll be appreciated ( my english is not great so it's not always easy to find myself)

thank you guys

Normally you can see the margin requirement for the position you want to open in the order preview window. Not sure if IB has a page where you can see all their margins since they have so many assets you can trade.

Edit:

Here you can find some of their margins:

https://www.interactivebrokers.co.uk/en/index.php?f=37725

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Last Updated on April 30, 2020


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