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Merlin:
Appreciate the information. Extremely helpful. I was fearful of the
"requote" situation and understand that, as you state, I am at the mercy of
the broker giving the quote.
I will try the sites you suggest.
Thanks again,
John
----- Original Message -----
From: "Merlin_Turtle" <DavidRNews@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, August 04, 2002 3:00 PM
Subject: RE: [RT] Forex Trading
> I can give you information but no experience - I researched forex
> extensively a few months ago, but ended up going back to e-minis.
>
> There is no centralized exchange in Forex, therefore you are at the mercy
of
> your broker. The key issue is to find one whose system does not allow
them
> to "read" your trades - make sure they're giving you the bid/ask *before*
> you tell them whether you're going long or short, and beware of
"requotes" -
> if the prices consistently change against you, get another broker.
>
> Brokers who have a good reputation for integrity, from what I could
> ascertain:
>
> www.gaincapital.com - arguably the "Cadillac" of the industry.
>
> fxtrade.oanda.com - unique features, smallest spreads, no minimum deposit.
> Canadian firm, not U.S. regulated.
>
> www.fxsol.com - this is a smaller firm, but came recommended by Timothy
> Morge, who knows one of the principals of the firm personally and trusts
> him.
>
> www.gftforex.com - recommended by Joe DiNapoli, again through knowing the
> broker personally from earlier days in the commodities business.
>
> Oanda and FXSOL have smaller lot sizes, which is an advantage if you're
> starting with a smaller account. OANDA has good message forums
> (http://www.oanda.com/cgi-bin/msgboard/Ultimate.cgi).
>
> Good trading,
>
> Merlin
>
> -----Original Message-----
> From: jdfo [mailto:jdo1@xxxxxxxxx]
> Sent: Sunday, August 04, 2002 7:44 AM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: [RT] Forex Trading
>
>
> Does anyone on the list have any information or experience with Forex
> trading? I have seen several sites that provide real time quotes and
> charting capabilities, but I am worried about where their market quotes
> originate and, in many cases, their commission structure.
> I believe that many of these organizations principal the trade, thus
in
> effect they are making a market from the larger bank market and using
their
> own bid/ask with the appropriate markups. This, combined with a
commission,
> would make it very difficult to turn a profit.
> Does anyone have any suggestions as to where to locate a good,
reliable
> site/broker for online trading? And, any comments on trading the Forex
also
> would be appreciated.
> Thanks in advance,
> JohnO
>
>
>
>
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