Joined: Tue Sep 22, 2009 9:26 am Posts: 12
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Hi everyone,
I am currently trading with Oanda but yesterday discovered a different type of broker that is ECN. So I realised that Oanda is a Market Maker and Currenex or Dukascopy is ECN.
In the near future as my trading gets better and consistent I may consider adding more money to my account. but I want to trade with a broker that won't hunt my stops and my money will be secure and wont complain or warn me as my account grows.
If you are going to trade with over $10k would you consider a broker like Oanda or ECN?
right now I'm trading with $1k but have read reviews about Oanda on ForexPeaceArmy that they will stop you form trading if you are consistently winning or growing your account.
My other question is the commissions with ECNs how do they work? Dukascopy charges around $36. Doest that mean that I have to pay $36 to enter a trade and then another $36 to exit the trade once TP or SL is hit. Or is it just a one off fee for $36? my only concern with commission fee is that if I'm shooting for 2% profit per trade with a 10k account then that is $200 out of which $36 or $72 goes to commission.
Based on my little research Dukascopy seem to be the best ECN I can find at the moment. Any other reccomendations?
Thank you
Alps
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