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iwshares

Tradestation for Forex Trading

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Hi guys,

 

I am demo trading forex (eur/usd exclusively at the moment) and am looking for the right broker and trading platform. At the moment I am using the web clients and have tried a few different demos. I really like the Tradestation matrix (it seems to make more sense for me than chart based trades), though haven't used it myself. However one guy I spoke to briefly said the last time he tried to use it for forex his team found it not very good, though admitted that was several years ago and didn't elaborate as to the faults, maybe some guys here know what they were. My main questions would be:

 

a) How is Tradestation for trading forex these days?

b) How are they as a broker? Is it worth paying for another broker? I'm based in the UK so am I right in saying there would be conversion costs converting my GBP to USD for trading with them? I've emailed support and not got a response which doesn't bode well...

 

Hope this is the right section and hasn't been covered elsewhere in the forums.

 

 

Thanks

iwshares

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Personally, I love TS charting and 'analytics' ... have used it from the beginning in early 90's ...

But I avoid using TS as an FX broker because -

Gain feed (still?) + spread + high commissions + matrix scrolls by smallest decimal(still?) = unpleasant trading for me

 

I would not use TS at all if I were outside the US. TS cuts and runs at the first sign of regulatory or costs trouble for them offshore... example they just up and left Canada a couple years ago...

ie keep shopping for best brokers and platforms there... check MultiCharts if you like TS features, language, etc...

hth

Edited by zdo

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I would have to agree with above. LOVE my Tradestation. Couldn't live without it.

 

But, don't trade there (sorry TS) -- you want a good place to trade FX -- see one of those Oanda ads you see on this site. Hard to beat those guys to me one of the most responsible brokers out there and fair.

 

Regardless, I still pay my monthly TS fee since I love the charting if not the trading.

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correction - evidently TS has dropped charging commissions on FX trading .... spread only now

Now if they would only get rid of the fractional pips on the Matrix. Or even better, allow user defined parameters of the intervals.

 

re: "Regardless, I still pay my monthly TS fee since I love the charting if not the trading. "

Steven, why don't you just have an account there, then there is no monthly fee. I think they have even dropped the minimum turns per month stuff... just saying :)

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