A few years ago I traded forex profitably with Interactive Brokers, and I've been practicing the last couple of weeks, with a view to get back in (got 40 pips clear, both weeks). Problem is, IB don't offer Aussies margin accounts any more. I can't trade live.
I scalp EUR/USD off the 1-minutes, and I *really* need to be able to draw some profit from 4 pips, and preferably better. I'm looking at FXCM who have 0.7 pips each way, but I'm hoping to find better, and preferably a straight commission, rather than manipulating the spread. I mean, scalping at the level I scalp at, if the spread on the EUR/USD goes to 1.5 or so, that's a meaningful thing. Don't fancy needing to peer through fake spreads to see the real action...
The other thing I really miss, trying a few demos, is IB's old trade pricing, where the graph showed the last exercised price, rather than the bid or offer.
I enter on a stop market, and I exit by moving the attached stop. One trade, one stop, and I just adjust it manually (on the chart) as I go. I do reverse, but I'm happy to sort that out myself.
So I MUST have an attached stop that ALWAYS triggers when the trade is entered, and I want it to be easy to move it.
After all of that - anyone know who would fit the bill? Thanks heaps, anyone who read this far!
(IB has all of that, with a flat 0.2 pip commission each way, but they don't offer margin to Aussies. I seriously considered moving overseas, for a couple of minutes...)