Why IC Markets Is The Best For Forex

I've been buying and selling forex for over 11 years, I first began trading back in 1999 when there were just a couple of forex providers in Australia, as most of these companies were comparatively new and not accustomed to managing frequent investors like myself I was forced to find a provider offshore. After a great deal of searching I managed to find a provider in Switzerland that was able to cater for high volume traders. It has only been in the last 6 months that I once again began my hunt for a decent local Australian forex provider and what I discovered was astounding to say the least.

After several days searching online I noticed that the forex landscape has changed dramatically, there's allot more choice than there was previously. Previously there we only really two main forex providers and both of them were market makers, naturally the days of forex trading desks is over, most companies now offer straight through processing a few of the top tier brokers even have an ECN forex offering.

I downloaded a few platforms, when I say a few I mean my screen was covered with shortcuts to almost every single trading platform available. Several platforms offered by brokers were web based, although online trading platforms may well at first appear easier to work with as no software needs to be downloaded they often lack the advanced charting features of downloadable platforms and as an experienced trader I can tell you that good charting is critical.

After road testing the online trading platforms that I had installed I discovered that most of them were probably not designed for professional traders. The spreads on most of the trading platforms widened dramatically over news periods, although this is not uncommon as this is when the market is the most volatile, I really didn't expect the spread in EUR/USD to widen by 35 pips. Several of the broker trading platforms had fixed spreads, however I actually noticed a worse problem with these guys, their prices simply froze and I couldn't place any trades or get out of my open positions, in fact on two occasions the platforms just crashed.

Out of every one of the forex trading platforms that I trialled two were in fact ECN’s or electronic communication networks. An ECN is actually a mini marketplace where the forex provider enables numerous banks to quote prices flowing into their trading platform. ECN providers regularly have very tight spreads and much more transparent pricing than fixed spread brokers and market makers. When buying and selling with an ECN broker you will find that your spreads won’t dramatically blow out over news periods, the main reason for this is that with numerous banks taking part in the price creation it is likely that there will be buyers and sellers even during market volatility.

Of course as an expert trader my preferred choice is an ECN forex broker, out of the 2 that I discovered in Australia I discovered that only one of them constantly had tighter spreads than the other on all the main currency pairs. I would say that it is because they almost certainly have more liquidity providers providing them with prices.

To cut a long story short I ended up selecting IC Markets, it actually wasn’t a tough choice as these guys were the only company that could give me consistently tight spreads even during news announcements in addition to a stable trading platform. So far so good, I have been dealing with them for about 3 months now and have had no problems. As their spreads remain tight over the news I have had many more buying and selling possibilities than I would have had with the other providers. If you’re in the market for a trustworthy forex provider who's an ECN and can provide you with razor sharp spreads I can certainly say that form my experience IC Markets is the best out there.

Article Source: http://casinoarticles.us

Marcus Murphie is a professional forex trader with many years experience. Allthough IC Markets is Marcus's www.icmarkets.com.au/forex_ic_markets.html>">forex broker of choice you should do your own groundwork and test a few trading platforms before you make a choice. Marcus has also written many articles on trading many of which you can obtain on his www.icmarkets.com.au/forex_ic_markets.html>">forex trading site.

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