i have funded 500$ , what amount should i aim for everyday?

[hills_5000]

Was just reading up on HotForex... aren't their swaps on the higher side?

How much of a difference does a ECN or an MM broker really make ?

Be it far from me to recommend a broker, because I've had problems with many of them.
Recently, I opened a account to hedge with Hot Forex. Their customer service to the point is excellent. When my other computer crashed and I had to open my platform on this one, they were there every step of the way until I got it up and running. It took a long time, but nevertheless, they were a big help.
They give instant responses on their live chat instead of making you wait 5 minutes or more in between posts
All my trades have had instant execution and no slippage.
I've gotten the exact price everytime right to the pip.

I've never said all this about one broker.

FXCM? Terrible!!! Enough said.

 

[4xpipcounter]

Yes, but it is about $2.50 per lot on the EUR/USD. Whether you go long and gain, or go short and lose, it does not make that big a difference. As an example, Let's say you keep it over 2 nights and gain 100 pips. That's $1,000 and paid $5. If it was somewhere else that it was $2, then you would pay $4 on the position. That would be on a short. The long would be the equivalent gain.
That's why that does not make a difference to me. As long as Hot Forex remains being a good broker, I'll be with them for life.
(Now I'm hoping someone from HF read that.)

Was just reading up on HotForex... aren't their swaps on the higher side?

How much of a difference does a ECN or an MM broker really make ?

 

[hills_5000]

and to clarify ..when they swap is USD 2.5 per lot....does that mean for a 0.01 lot size it will be 0.025...two and a half cents? cos if that is the case then they seem to be ok...

PLus how much does it matter if a broker is STP or MM? whats ur experience with that..

thanks

Yes, but it is about $2.50 per lot on the EUR/USD. Whether you go long and gain, or go short and lose, it does not make that big a difference. As an example, Let's say you keep it over 2 nights and gain 100 pips. That's $1,000 and paid $5. If it was somewhere else that it was $2, then you would pay $4 on the position. That would be on a short. The long would be the equivalent gain.
That's why that does not make a difference to me. As long as Hot Forex remains being a good broker, I'll be with them for life.
(Now I'm hoping someone from HF read that.)

 

[4xpipcounter]

Savant caught me asleep at the switch in not realizing the difference, even though intuitively I knew my broker is not an ECN. Right up to this point, I feel this broker is the best, so I really do not know the difference between and ECN and MM. One thing is for sure, I cannot say enough good about the responsiveness of my platform. It does add stress to trading if you don't know if your trade is going to get executed.

You are right on the swaps. As I mentioned, they make me no difference because a gain or a loss makes no difference to me in the total scope of the trade. It also makes me no difference in spreads, as long as I have a good broker. Having said that, the spreads I now enjoy are the best with any broker I have ever been with. They also allow me 200:1 leverage up to as high as a balance as I want to carry.

and to clarify ..when they swap is USD 2.5 per lot....does that mean for a 0.01 lot size it will be 0.025...two and a half cents? cos if that is the case then they seem to be ok...

PLus how much does it matter if a broker is STP or MM? whats ur experience with that..

thanks

 

[mubzaveri]

Savant caught me asleep at the switch in not realizing the difference, even though intuitively I knew my broker is not an ECN. Right up to this point, I feel this broker is the best, so I really do not know the difference between and ECN and MM. One thing is for sure, I cannot say enough good about the responsiveness of my platform. It does add stress to trading if you don't know if your trade is going to get executed.

You are right on the swaps. As I mentioned, they make me no difference because a gain or a loss makes no difference to me in the total scope of the trade. It also makes me no difference in spreads, as long as I have a good broker. Having said that, the spreads I now enjoy are the best with any broker I have ever been with. They also allow me 200:1 leverage up to as high as a balance as I want to carry.

sir,
How is ur experience with them in withdrawals,was it smooth.

 

[4xpipcounter]

I'll find out. I'm new with them. This is not my only live account, and I have not withdrawn from it yet.

sir,
How is ur experience with them in withdrawals,was it smooth.