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Broker…Which One?

February 8, 2008

Hello Friends,

I’ve received numerous request to reveal the brokers I personally use. I also saw a number of post on the forums asking help to find the best broker. Hence this post :)

As I have mentioned before that I use ODL demo for my charts so I would recommend you to do the same. These charts are free and you can use them as long as you like. I personally have been using them for over an year now and never had any problem.

However for live account I use two brokers, they are MBT and Oanda. Here is the comparison between the two:

  • They both have tight spreads, however MBT is commission based.
  • The leverage offered by Oanda is 50:1 as compared to 100:1 for MBT.
  • You can open account in USD only for MBT but Oanda has option for EUR and USD.
  • Oanda doesn’t require minimum initial deposit however MBT requires $400 initial minimum deposit.
  • They both don’t support MT4.
  • Most important - both are honest and I never had problem withdrawing funds from them.

Please note that my recommendations are based on personal use and experience and I don’t receive any kickbacks from any of the brokers.

Another reason I am recommending these broker is because I am working on something that can make your trading completely “Hands Free”. Details to come later :)

Please feel free to research other brokers and go on with the one that you are comfortable with.

Cheers,
Oz

Written by OzFx · Filed Under Updates