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Replies to #4109 on FOREX TRADERS
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livin1492

07/26/06 10:03 AM

#4124 RE: jdz #4109

Bloomberg, broker,

Hey JDZ, Bloomberg Anywhere is $1700. As far as news trading is concerned.. figure you have to trade $10/pip extra to pay off the monthly cost. $10/pip on news trading is very conservative as you probably know. A conservative estimate trading news is about 200pips/month. Though I would advise AGAINST Bloomberg unless you trade fixed income: notes or bonds. Reuters FX program is $700/month from what I hear.. I will let you know about that next month or the month after when I get it :).

JDZ, as far as Saxo Bank.. I have heard some rumors of their honesty. Saxo Bank only protects their clients up to 10k EUROs from what I have been told. Dukascopy is a swiss broker who places all of your money in a Swiss Prime Bank (whatever that is lol) to protect from bankruptcy or other problems. Dukascopy does not do well in volatile markets.. which will not be a problem if you dont trade news. Dukascopy offers at times zero pip spreads on the EUR/USD! Most of the time it is 1-2 pips (actual interbank quote). You will need to put a 25k minimum with them.. so if you have it.. I would look into them. If you you want more info there is a guy over at www.hibbiz.com that MAY be able to help. If you want a EURO broker, I would look into Deutsche Bank.. they are the single most powerful forex player around. DBFX.com is their retail platform, AutoBahn FX is their platform for the big guys that they don't want anyone to know about ;).

Livin

As for me.. I don't know who my broker will be. By some time next month I will have 4 of them *sheesh*. Just shopping around I suppose.