Hi all, new to Forex. I have $500 I want to learn with. I already have a demo account with TradeKings. I started with their shitty Java platform but have since liquidated that account, moved to MT4. I love the platform but TradeKing's customer service is absolutely appalling so I want to move brokers. Any ideas on a broker that will take
$500 to start
Has great customer service
Hooks into the MT4 API
Has tight spreads OR
Has decent commision
I was paying at a minimum .30c round trip on my trades at TradeKing forex. With only $500 to start that's taking health chunks out of my trading, especially when I have to set my stops @ 50 pips and it may not make for a decent trade. Any questions?
I'm finally putting on my big boy pants and leaving robinhood for a real broker because robinhood fucking blows. I'm hoping to switch to a brokerage that has forex trading as well as stocks/options/etc. So far I'm looking at tradeking, TD Ameritrade, and E trade. I've read mixed reviews on tradeking, but right now it's at the top of my list. Anyone have options on any other good brokerages for this?
Need advice on which online broker to use. Please advise!
I want low cost trades, currently use Edward Jones and get raped. I started with EJ because I started a Roth there, and will keep it there. It just is not good for short term trading. I want my money to be quickly accessible so I can disengage it / Reengage it to capture gains/avoid losses. I would want lowest fees. I don't mind commission per trade being around 10 bucks, so the 5-12usd range is fine. I ONLY do straight stock trades. No options/mutual funds/forex I think... as I am a newbie.... I would also need easy documentation for tax purposes. This will be my first year paying capital gains/loss on my trading activity. I want that to be as smooth as possible. I will be getting a CPA for taxes this year, previously used TurboTax and did it myself. I will have between 2500-10000usd in the account. I do some light day trading. (1-2 trades max a day, usually 1-2 trades every 1-2 weeks, AKA not a lot but still in short term range.) I started because of the following reasons. I have a B.S. in International Economics from Texas Tech. I invest in E&P companies. I have four years experience working completions[frac jobs] in the oil industry, primarily the Permian Basin/Midland-Odessa of Texas. I have a lot of time on my hands while at work that doesn't interfere with my work quality and I can still watch/act on the market movements. So far I think TradeKing is my best bet but not sure. Maybe Cobra Trading Any advice is welcome!! Please help! Hoping this was the right subforum, also posting in Investment e: I have robinhood but was told it took 2-3 days for funds to clear trades. This doesn't work for me as sometimes I enteexit on the same day. e2: I am going to be calling a good friend with 4 years experienced for JP Morgan today to clear up some confusion I believe is here due to terminology. Will update thread when I can more clearly explain myself. I looked up margin accounts, PDT, and margin trading. As far as I know, I am not a margin trader, I do not trade on margin, nor have I done so. I have the cash backing up all trades I made. All trades I made/make have the equity/cash inside my brokerage account to back them up. e3: I have a cash account, I want to stay cash account. PDT will apply to me. I do not have the funds to enter into margin trading nor the desire. I am probably just needing to decide between tradekings and tradestation. They all seem the same cost wise just need to look into their tools and layouts and which one I enjoy. Thanks for the help everyone.
When TradeKing / GAIN Capital acquired MBTrading, they seemed to insist in that the customers were going to have a better service -with better spreads, et cetera. I don't think anybody that had dealt with Forex.com or TradeKing Forex believed that claim, but they insisted with that mantra. Before the account transfer happened -as I was foreseeing hating TradeKing Forex from my previous experience with forex.com- I did withdraw most of the money from the account. After a few days seeing how the spreads and the overall conditions were leaving me far less satisfied than MBtrading, I decided to withdraw the rest of the money. TradeKing now charged me $25 in bank fees, for a bank transfer that MBtrading always did for free. So much for "better service". It's sad that MBTrading was acquired and I am mad at TradeKing and their generally shitty service. Now, I am asking for them to reimburse me those $25. I won't lose much sleep with it... but it's a matter of principle! Anyway, I just wanted to vent and tell you my opinion on TradeKing Forex, hoping it might somehow help...
I need advice on which brokerage is best for me, PLEASE HELP
I want low cost trades, currently use Edward Jones and get raped. I started with EJ because I started a Roth there, and will keep it there. It just is not good for short term trading. I want my money to be quickly accessible so I can disengage it / Reengage it to capture gains/avoid losses. I would want lowest fees. I don't mind commission per trade being around 10 bucks, so the 5-12usd range is fine. I ONLY do straight stock trades. No options/mutual funds/forex I think, as I am a newbie, that I would also need easy documentation for tax purposes. This will be my first year paying capital gains/loss on my trading activity. I want that to be as smooth as possible. I will be getting a CPA for taxes this year, previously used TurboTax and did it myself. I do some light day trading. (1-2 max a day, usually 1-2 every 1-2 weeks, AKA not a lot but still in short term range.) I started because of the following reasons.
I have a B.S. in International Economics from Texas Tech
I invest in E&P companies
I have four years experience working completions[frac jobs] in the oil industry, primarily the Permian Basin/Midland-Odessa of Texas
I have a lot of time on my hands while at work that doesn't interfere with my work quality and I can still watch/act on the market movements.
So far I think TradeKing is my best bet but not sure. Maybe Cobra Trading Any advice is welcome!! Please help! Hoping this was the right subforum, also posting in Stocks e: I have robinhood but was told it took 2-3 days for funds to clear trades. This doesn't work for me as sometimes I enteexit on the same day.
Hey all, I know that the "hedging in the US" question has been asked multiple times, but going through the search results on /forex I haven't found a satisfactory answer. Maybe there isn't one? My singular interest at the moment is to find a US-based broker (or, at least, one that explicitly accepts US traders and has a history of integrity) that permits back office hedging. I heard, in the wake of the regulations that made hedging in the US illegal, that back office solutions were available, but so far, asking around multiple brokers, I am told either that it is not supported by them or that there is some roundabout "hack" to get it working. I am currently running multiple MT4 EAs on the same currency pair, each targeting a different element in the price action... or I would be, if TradeKing had back office hedging. I was told by an Oanda rep that I could synthetically hedge by using multiple MT4 accounts all linked to my main account, but what I don't get is where the "don't worry, we'll deal with it in the back!" brokers are. I'd like my EAs to all run on the same account on the same instance of MT4, and completely ignorant that the others exist. Are there any US-based brokers using MT4 that support seamless, completely transparent back office hedging? I'll go with Oanda if such a thing does not exist, but of course, I'd rather do less grunt work rather than more.
So I mainly invest and trade stocks on etrade. I want to give forex a shot and it seems like the no minimum requirement by tradeking is pretty awesome, but if i'm correct I still need $500 in order to get trading in forex on it right? Any other low minimum requirement platforms you guys recommend? Thanks all
Is anybody here trading with MBTrading and concerned about the move to Tradeking this coming weekend?
MBTrading will be moving all forex accounts over to Tradeking as part of their corporate consolidation/buyout. They'll be closing all client open positions (realizing profits and losses) simply in order to move them to the new company's platform. Desktop Pro (native platform) users will have their positions re-opened at market rate, while MT4 traders will have their positions closed outright. Profits and losses would of course be realized, but otal account values would go down while while margin requirements I'm assuming would stay the same. Simply put, wouldn't that be screwing over traders, forcing them to accept drawdowns if they're riding out longer term open positions that are in the red? Is this even legal?
TradeKing Forex is part of the TradeKing Group which was established in 2005 and is domiciled in Fort Lauderdale, Florida. TradeKing Forex was added to the TradeKing lineup after establishing the need to add Forex to its list of trading products and subsequently acquiring MB Trading.com, a U.S. based futures and Forex broker. Understanding the forex market and winning at trading forex online is an achievable goal if you get educated and keep your head together while you're learning. Practice on a forex trading demo first, and start small when you start using real money. Always allow yourself to be wrong and learn how to move on from it when it happens. FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Forex has become one of the most traded markets in the world, and with TradeKing there is a lot to offer Forex traders, both newcomers and more experienced traders. Tight Forex spreads – Spreads start as low as 1-2 pips, and there is the possibility of even tighter spreads if you open a Forex Pro account Foreign exchange (Forex) products and services are offered to self-directed investors through Ally Invest Forex LLC. Ally Invest Forex LLC, NFA Member (ID #0408077), acts as an introducing broker to GAIN Capital Group, LLC ("GAIN Capital"), a registered FCM/RFED and NFA Member (ID #0339826). Your forex account is held and maintained at GAIN.
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