Trading Mastermind - Reviews by other traders

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Broker Name	Review	Rate it	Name	Location	How long have you been trading?	Do you trade as your primary source of income?	How much do you make in trading?
OANDA	With this broker I have only used the demo account but from what I have seen: Oanda is a very good broker with some awesome features! Excellent java based platform that is extremely fast - instanteneous - at executing the orders under almost any internet speed. They have a very powerful computer system for automatic trade execution. They also allow you to place orders in single units instead of lots so you can really dial in your exact risk per trade -- that is great. like if you want to trade 10.275 mini lots to be in exact 5% per trade risk. Well with most borkers you could only be able to put in 10.2 mini lots because most brokers only go to one decimal or none in the order column. But with OANDA you would place 10,275 units in the market order window and execute that order. So you make perfect use of your risk. That is pretty cool. But what is not cool is their one mayor flaw which is that: You cannot Hedge. You cannot be long and short the same pair at the same time. Which sucks if for example you are long a on the daily but then trading the 1min and 5min for shorter term profits and trades that will last 20 -30 mins more or less and will be long and short. So with OANDA you couldn't do that. But it is a great broker anyway. I really like it. It really wants to be the absolute best broker out there and it really is getting pretty close to it. I'm giving it 4 STARS only because I can't hedge and because I haven't used them live so I can't say with absolute certainty how they are in that regard.	4	Omar Ignacio	Puerto Rico	4 years	YES	FROM $500 TO $1200 USD a day
TradeStation/Gain Capital	4 stars. Tradestation is great for backtesting, and charting. Naturally. My only real issue is with my stops being skipped twice. I had entered my stop limit with the Hit/Take function, exchange rate hit it, and no fills...i probably need to have it set instead to Hit/Take within a few minimum moves from my stop. Out of over 100 trades, this only happened twice. I've always received my earnings, although it takes up to three days. No huge problems.	0	Michael Gould	Danville, Kentucky	one year	yes	20k/month or so
fxcm	Great service. Excellent customer service.	5	Caroline	The Netherlands	3 years	Yes	Average $5000 a month
any MetaTrader4 broker	The first thing to be considered is that MetaTrader4 is a trade base platform, designed for running robots (EA's), and short term individual trade based positions. It is not a position trading platform and does not support position trading as well as a true position based platform. This is a beautiful charting platform. It has the ability to write, or download many custom indicators, scripts, and EA's. It also works extremely well for manual trading, easier than most position based platforms, but it some serious limitations. Being trade based you can not easily scale into or out of a position. There is no way to close a partial position unless you opened it in segments. Further if you scale, or leg into a position, opening several different orders to accumulate a position, these will all have to be managed individualy. Therefore, I would have trouble recomending this platform to anyone interested in longer term position trading, since the ability to scale into a position by opening many small orders and constantly reinvesting accumulated profits, without accruing individual commisions or the need to close the initial position to realize the profits is one of the untold secrets of Forex position trading. However, this is a beautiful platform for daytrading, testing EA's, or any sort of short term scalping and swing trading.	0	Ken Long	Cambridge, MA	Forex 0.5-1 year, stocks and options 2-4 years	Still working on that one	average-poor. 08 breakeven, learning Forex, trying not to lose. 07, much better, 20K, >100%, no Forex. The platforms cut me off, I cant see what I'm writing...
Forex-Metal forex-metal.com	One of the best in my opinion. I trade with them live, from last October. They accept bank wires, Moneybookers, Solitrustpay, and many e-currencies, have Metatrader platform, and the spreads are tight.	5	Anjelo	Mississippi	about 3 years	no	it depends. About $500-600 a month.