So far in my little career, I have avoid doing news trading but now I am starting to get confidence in myself to do news trading, but I am worried whether broker will allow me to do news trading or not? I have shortlisted few companies in TradeWiseFX, OctaFX and FreshForex – Now I found that OctaFX reputation is not greatest while FreshForex is too complicated, so that leaves me with only TradeWiseFX, do you guys think is it best option for me for news trading?
I'm glad I'm not the only one, Ive seen people trade based on daily news events and releases but I've never actually seen it called News Trading before. I assume thats what you mean David ? Ref: http://www.investopedia.com/articles/forex/05/tradingonnews.asp
Unfortunately not aware of what else to call it, basically I meant by trading during NFP or FOMC, so perhaps this could explain bit better. Basically many brokers I have traded in past have issues like slippage, re quotes and all that, so the above mention ones are where I have found it to be minimum, at least by what I heard or others have said, so anyone of you guys have any idea about the brokers I mention? If so please do give your suggestions.
Ive not heard of the ones you mention but I tend to stick with the larger providers, such as FXpro which you can use the MetaTrader Software with. I've seen alot of people complain at busy times with service eToro but even they seem to have improved since their new system has gone live.
I don’t like Etoro at all, it’s just too much complicated for my liking, I worked with them in past, but It was a forgettable experience for me. As per FXpro, I heard many people having issues with them, so do you think it’s worthy to go with them? While in larger picture, I feel the sort of broker I am looking they’re not suited. It’s sad that you haven’t heard about the brokers I mention since they’re fairly popular. Anyway perhaps someone else can put light on it?? or suggest a broker which is suited to News (aggressive) type trading?
I am a sucker for FOMC and NFP days. About brokers for news trading, I am doing just fine with Forexchief. During NFP releases, the market is a bit rough in the first 2 mins, but I do get in as fast as possible.
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