Forex rebates on every trade - win or lose!

Anybody offer any help with recommendations/preferences for opening another FX account.

One I have at moment, I mainly opened for option trading and sort of stumbled into trading Forex in it as it was convenient but as I do more FX than options nowadays I need another account I think with tighter spreads.

Spreads I have at the moment are cable - 4 pips, euro 3, g/j 8.

Any suggestions?

I really don't think it matters who you use, FF, so long as you stay in your position long enough to get the reward. In a fast moving market there's always a risk that your broker will struggle to get your trade away. You can probably improve on those spreads by a pip or two, but there's always a chance that your broker's quote will be skewed off the price showing on your charts so I believe it's swings and roundabouts. If you're prepared to hold long enough to reap 100 or 200 pips profit, then the odd pip or two in spread is academic, imo.

If you're really that bothered about it you need to be trading directly onto the CME.

Notwithstanding, you should have several accounts open anyway. You never know when you might need to use them.

Thanks Hils,

The spread I'm not really bothered about too much. If there were 2 brokers who offered similar reliability and service than obviously I'd go for the one with the lower spreads. You've hit the nail on the head about several acccounts and it is the primary reason why I realise I need other accounts just in case my platform freezes. Thankfully, doesn't happen too often but you never know.

My main criteria would be reliability and service. Also, I guess a big factor at the moment is making sure my money is safe, bearing in mind all the difficulties with financial institutes at the moment.

I'd rather open accounts with ones people have felt comfortable with and recommended, hence the post.

Anybody like to offer any views on ones to go with or ones to avoid even?

Cable holding just above huge trigger

We're in for an interesting battle in cable. If it holds above 1.9615 for the next week and below 2.0615, the holder of a double-no-touch option stands to collect GBP 20 mln. If the seller of the option, likely one of the big US investment banks, a UK clearer or a European mega-bank, wants to avoid paying out that big chunk of change, it may be willing to spend a few bucks trying to drive cable below 1.9615. That way it gets to pocket the premium and avoid the paying out on the lottery ticket. Look for good two-way flows as both the holder and the writer of the option protect their interests. If 1.9615 holds, be prepared for a nasty short-squeeze as the writer needs to buy back the cable sold in an effort to trigger the barrier. Cable trades now at 1.9625.

Anybody trade with Twowaymarkets?

They seem to have tight spreads but don't know about trading platform, reliability etc.

A lot of pairs today had a lot smaller daily range than usual.

Think we're winding up for some big moves.

Foxie - I registered with Twowayspreads a while back. Not done anything with it, and their logo looks the same, so I guess they're connected to Worldspreads too, although at a quick glance I can't see anywhere that says so.

Thanks chocolat,

Worldspreads? Are they well known?

2ws is owned by Ws. It's called white labelling.

FF I use GFT good platform nice charting package, been with them for two years they seem ok 4 pip spread on cable though, also use FXCM no problem, GFT have a Spreadbet platform as well, 3 pip spread on cable.

Thanks Divetime.

I'll put them on my list to checkout.

Anybody else have good experiences and recommend a broker worth opening an account with?

I'm long Euro from earlier this morning.

Think it may have a go at it's all time highs again today. We shall see.

I'm long cable from earlier as well. I have a descending channel on H4 with a top very roughly around 1.98 for today - haven't got time to post a chart again. We'll see there as well.

Out of Euro for a nice few pips. Looking to re-enter on a retrace.

That's me out by limit for 100 pips @ 1.9783 :-)

I think both Euro and cable look like they have further to go, but am happy with my profit too. Only 95 pips for me though ;-)

Having a great day here.

U2 playing in background and my USD/CHF short limit just triggered for another 100 pip profit.

It's great when it's like this!!

1.9831 looks to be today's magic number. Has it got the legs to clear it this time?

If not Hil, I'm sure you have ;-)

These legs, MM? I've given up the fitness regime and let myself go a bit since I last saw you.