New York Close 5 Day Charts and Broker
In this day and age, Forex brokers have come a really long way and there is now a lot of competition.
Forex brokers know that if they don’t offer you a good product someone else quickly will!
That means YOU can get a really good broker and try them on their demo for free before depositing real money.
Gone are the days where traders cannot afford to trade the cross Forex pairs such as the GBPAUD or EURNZD just because the spreads are too large.
Even though some brokers are still ripping traders off on these pairs, the competition is so tough that these traders can turn around and within a few minutes have another live account up and funded with another broker and far superior trading conditions.
What Should You Look For With Your Forex Broker? (MUST HAVE’s)
There are a few really important non-negotiable points that you should be looking for with your broker. Some factors when trading are super important and when it comes to placing a trade the security of funds is a huge issue.
With this in mind it is very important that whatever broker you are looking to trade with that they are regulated and that they segregate your funds.
It is important that brokers are regulated by a financial watchdog such as ASIC in Australia or the FCA in the UK because the broker has someone policing them and they are not a law unto themselves. This also gives you a financial institution to go to if something happens that you don’t agree with.
A lot of Forex brokers are not regulated. If your broker does something you are not happy with and they are not regulated, you have no one to make a complaint to and no external way to get your issue resolved.
The biggest outgoing expense that a trader has to run their trading business is their broking costs i,e, their spreads and commissions and for this reason it is super important that the broker chosen has tight spreads & commissions.
The other reason this is important is because with many brokers traders are getting ripped off on the cross and more exotic pairs with the higher spreads making these pairs not worth trading.
This can then make these traders miss high quality trade setups simply because they were with a broker that was charging extortionate spreads.
Whilst the above points are the really non-negotiable must have points, there are other points that are also really important for you to take into account when looking for an ideal broker as well.
These are all things like making sure the broker has the correct New York close 5 day MT4 charts and that the broker carries more than just the basic 20 or so Forex pairs to trade.
It is also crucial your broker is not a marker maker playing tricks and making money when you lose.
The last point that a lot of new traders should consider is funding options and minimum amounts. A lot of traders when first starting only have small amounts of money to start with and will only be able to fund a small account so it is important to know if the broker of your choice allows small live accounts to be opened and if you can trade small trade sizes.
It would be a waste of time opening a live account with a new broker that did not allow anything under a standard lot to be traded.
Using the Correct New York Close 5 Day MT4 / MT5 Charts
As pointed out above; it is important the charts that the broker uses are the correct New York Close 5 day MT4, MT5 charts or cTrader charts. Why is this so important? Quite often the MT4’s charts will come as a six-day chart.
This sixth day candle is not a full day and is normally a 4hr candle that throws out the rest of the price action chart.
Because the sixth candle is only made up of 4 hours and the other five candles are made up of 24 hours, this sixth candle throws out the price action and does not give a true or accurate reflection. Instead of getting five accurate candles, the chart has a whole heap of smaller candles all over it that should not be there.
See the two examples below. These are both the same pair on the daily chart. The only difference is the first chart is a six day chart with little candles out of place everywhere and the second chart is a correct New York close chart.
6 Day Chart With Small Candles
Correct 5 Day New York Close Chart
The other important reason why traders should be using New York close charts for their daily charts is because of how the timings of the candles are set up. The candles are formed in-line with how the market forms, giving a more accurate reflection for price action traders.
The daily candle opens at the start of the week when the Forex market first opens in the Asian session and it trades right through to close at the end of the week when the US market closes. This is the same for the daily close during the week. The daily candle starts/opens with the Asian session and trades right through to close when the US market closes.
Do not confuse the MT4 time on the platform with the candle closing time. Whilst traders can go in and change the platform time to anything they like, trades cannot change the time that the candles close and open.
This is configured by the broker only. In other words; the broker is either a New York close charting broker or they are not. It cannot be changed.
Recommended Broker and Charts
Traders OUTSIDE of the USA
Recommended Broker and Charts
Traders IN the USA
- Correct New York Close MT4 5 Day Price Action Charts
- Regulated in the US by the CFTC
- MT4, MT5 & cTrader Platforms
- Segregated Funds
- Straight Through Processing (STP) Broker
- Tight spreads
- All strategies allowed including, price action, scalping and EA’s
- ECN/Straight Through Processing Broker (STP) Broker
- A lot of markets and FX Pairs including; Forex, Silver & Gold and Futures
- Variety of Funding & Withdrawal Options
- Trade with IPhone & iPad, Android & Microsoft
- Small minimum trade sizes from 0.01 lots
- $100 minimum live account start
Sign up Using this Link
Recap
Your relationship with your broker plays a really important role. It is crucial that you have a solid broker that you trust and you can rely on to be able to make your trades when and how you need to at the best prices.
Too many traders take the attitude of “it’s just my broker to make trades”, but your broker could make or break your trading. If your broker is slow placing trades, is always slipping when you want to take profit or charges you huge fees, it will greatly effect your trading profits.
If you have any questions about anything discussed in this article or need any help with anything at all, then you can just let us know in the comments below.
Hikmat Shah says
Hi Johnathon,
I am from Australia and I use eToro for my trading. What do you think about eToro trading platform? Please let me know your honest opinion about pros and cons. I have been reading every single article you have written so far and I honestly consider you one of the greatest intellectuals in the world of trading.
Kind regards,
Hikmat Shah
wisani says
Hi Johnathan ,Am from south africa.I just want say thank you very much for the articles. They are really helpful to many people all over the world. You have opened my eyes big time.God bless you J.
[email protected] says
hello,
is 5 day new york close candle means to count 5 daily candle on my chart ?
Ref says
Hi,
How do I know if my broker is using the correct New York Close 5 Day Charts?
Thanks
Thapelo says
I really need to know more about trading
JacobE says
Hello Johnathon
If I decide to trade timeframes equal or less than 4h why is it so important to have the NYC 5 DAYS CANDDLE
Johnathon Fox says
Hi Jacob,
a couple of reasons. The first is how the charts are created; New York close opens when the first markets open (New Zealand / Asia) and close when New York closes. You will also not get any weird out of place Sunday / sixth candle.
The other reason is because if like most you are trading the smaller time frames, for example; 4hr, 1hr or smaller you will normally still be looking at the daily chart and analyzing it’s support / resistance, trend, range momentum etc and obviously want to have accurate price action.
Safe trading,
Johnathon
Payne says
Hello Johnathon,
I live in Australia, will you recommend IC Market? Thanks in advance for your response.
Johnathon Fox says
HI Payne,
nice to hear from you. Yes IC markets is recommended broker. If you have questions or need help just reply to this comment or send an email.
Safe trading,
Johnathon
chido david says
Hello Jonathon
How do I get set up with Forex School online?
What time does the New York daily chart close
Does exness broker have a 6day or it’s the correct 5 day New York close chart
Regards
Johnathon Fox says
Hi Chido,
New York close charts are 5 day charts that close at 5 pm New York time. I could not tell you about Exness charts.
We have a free intro course that includes extra free bonuses you can find here; https://www.forexschoolonline.com//forex-school-beginner-course
Anything else let me know,
Johnathon
Henry Takubalira says
Hullo Jonathan.
Do charge $20 USD on any withdrawal?
Johnathon Fox says
Hi Henry,
IC Markets have set up a deal for Forex School Online so you can have fee free deposit and withdrawal.
Johnathon
Johnathon Fox says
Hi Diane,
checkout the two posts below and if still have questions let me know.
https://www.forexschoolonline.com//faq/forex-risky-recommended-leverage/
https://www.forexschoolonline.com//leverage-margin-pips-and-lots/
Johnathon
Diane says
Hi Johnathon, What leverage do you recommend starting to trade at? What leverage do you trade at now?
Amanie says
Hi Johnathon!..
Which is better account to use with Ic market? Standard account or ECN account?
Johnathon Fox says
Basically it is just the two options with how the accounts are set up and how you want run your broking account.
The standard account means you will have solid spreads, BUT will NOT pay commissions.
The ECN account means you will get tighter spreads, BUT you WILL pay commissions and these will vary from broker to broker just like the spreads vary.
Safe trading,
Johnathon
Md Mamun Ur Rashid says
Hi johnathon, which broker you recomendet for Bangladesh?
Johnathon Fox says
Hi Mamun,
IC Markets is a good broker for traders in Bangladesh.
Johnathon
Johnathon Fox says
Hi Chidebelu,
yes, IC Markets accept Nigerian clients.
Safe trading,
Johnathon
James Gregory says
one quick question i live in the united states, is there a reason you recommended fx choice for united states residents. Better spreads or regulations or something else thank you so much for your time sir
Johnathon Fox says
Hi James,
A lot of brokers do not accept US residents after changes in recent years.
Anything else let me know,
Johnathon
Sandi says
I us Oanda, they are suppose to be a 5pm NY close charts. How do you see 5 candles per week?
When I put separators on my charts, I do not get 5 daily candles for a week. if I go with weeks, I still get a lot of candles before separators. How are you suppose to know if your charts are right? I know they close at 5pm, because it takes a while for the spreads to change back after 5pm. Also the time, on the charts, they always close at 12am (00:00) Why don’t they say 17:00 (5pm) Even gmt time is suppose to be 4 hrs. difference, very confusing?? Thanks for your help
Johnathon Fox says
Hi Sandi,
I cannot comment on all the different brokers as I simply do not follow all of them and how they operate as there is far too many.
It can be tricky especially when you throw in the time changes for daylight savings and different GMT offsets that brokers offer on their charts.
For the 5 days, you should be able to see by looking at dates of candles if they are offering 5 or 6 candles per week (just hover over candle and check dates).
For times; as I said the offsets can be tricky, but if you work NY close back to your time, and then time your charts are closing, then it becomes a littler easier.
Safe trading,
Johnathon
Sandi Rosenau says
I know that due to certain regulations the US lost quite a few brokers. I just found out that IG Brokerage is in the United states. Do you know if they have 5 day NY closing charts. I really get confused. I have Oanda and they are suppose to have NY closing charts. I can’t tell the difference. They all seem to start a new day after 5pm. Can you give me away of determining a 5 day NY closing charts. I have put separators on a chart, They don’t seem to separate by months weeks, if so I can not figure it out. Any help is very appreciated. I think other would like to know this as well.
Johnathon Fox says
Hi Sandi,
checkout comments I just posted below, and if this does not help let me know,
Johnathon
Bahram says
fxchoice classic demo is not ny close chart. the server time is the same as icmarket but the candels in d1 and h4 time frames are different.
Johnathon Fox says
Hi Bahram,
nice to hear from you. Both IC Markets and FXChoice NY close, but you are correct; different NY close brokers will show different prices to each other slightly.
This is because the Forex market is not centralized and they are each pulling quotes from different liquidity providers, and not one central market.
Safe trading,
Johnathon
Mosese says
Hi Jonathon.
My income is so little and I can only afford account of from $10 up to $30/40..
I’m currently in South Africa please tell me which broker can I use because XM broker most of time it doesn’t accept my orders it always queue them!😥
😥😥.
In fact it freezes when I want to place orders
Johnathon Fox says
Hi Mosese,
whilst I cannot speak in regards to XM as I have not traded with them or researched them to know what they offer, a lot of market makers will freeze or have slow fill times.
To answer other question; IC Markets discussed above is STP and allows small accounts. If you are not yet sure if you are profitable or are wanting to save for a littler larger starting account, then you could possibly test your strategy on a demo account without risking any real money until you are ready to go live which would also help build confidence in your method.
Anything else let me know.
Safe trading,
Johnathon
[email protected] says
Hi Johnathon!
I already have NY close daily charts… But I have a question relatively to 4h charts… There’s some brokers that have the 4h candles closing at the same time that the daily closes, but there’s others where the 4h candles closes only one hour after the daily close.
Because of this situation we can have different ”price action story” in different brokers, so what’s the most reliable?
I hope you can clarify me about this!
Just a side note: I’ve been reading your thread on babypips for some time now, great content! If you could go there for time to time to give some insights would be great! 😀
Regards
[email protected] says
Just figured out was it was… Was only with the gold charts because it has different market time…
How do you deal with this?Wich 4h closing do you use for gold?
Thanks!
Johnathon Fox says
Hi,
yes this has been the case for many years now regards Gold and different brokers. What price is doing and how it is behaving is what we are looking at. The overall story is the key and the last candle used as confirmation.
Regards Babypips; it has over 5 millions views and content is still there for all that need it. I wish I could be everywhere, but only so many hours in a day and have to use them as best I can.
Safe trading,
Johnathon
[email protected] says
HOW TO JOIN VIP MEMBER?
Johnathon Fox says
You can join free intro section here; https://www.forexschoolonline.com//forex-school-beginner-course
Safe trading.
vetnam Kaliba says
Hi Johathon
I’m new into forex trading with zero idea, although I attended two seminars with Learn to trade in Sydney. Its seem they dont want to reveal the whole concept so that we can be independent, they want us to start forex trading with them. Please, can you explain to me the steps to start forex trading.
Kind Regards,
vetnam
Johnathon Fox says
Hi Vetnam,
start with the intro course that also includes a ton of free bonuses that you will find extremely helpful here; https://www.forexschoolonline.com//forex-school-beginner-course
Use your demo account and don’t move from it and trade real cash until ready.
Let us know if any questions.
Safe trading,
Johnathon
daisy mathebula says
Hi Jonathan
Thank you will try them
daisy mathebula says
Hi Jonathan
I am enjoying the lessons from you thank you very much .I am in south africa which broker will be best for me .
Johnathon Fox says
Hi Daisy,
nice to have you with us.
IC Markets accept South African residents. They just do not accept US/NZ or Canada.
Safe trading,
Johnathon
Sandi Rosenau says
I had a demo account with FXCM and being in the US were told we had to close their account, due to US regulations. I opened an account with Oanda and my charts still look the same. So why didn’t I get NY closed charts? I am very confused. I was told you can’t change time in the charts? Was that wrong? I just want to have NY close charts. Can you give me a step by step way to do this?
Johnathon Fox says
Hi Sandi,
US regulations are stricter these days.
You cannot change the chart time frames, but a some brokers do offer different server times that will have different candle closes.
I am fairly sure Oanda also operates this way and offer a couple of different servers each with different candle closing times (one being NY close).
If you would just like NY close charts, then download from above either for traders in US or from IC for traders outside US.
Any questions just let us know.
Johnathon
[email protected] says
Hi Johnathon,
Thanks for this article.
I am in Italy, I want to open an account. Is this possible?
Johnathon Fox says
Hi,
IC Markets accept Italian traders. Just click to open an account and select whether live or demo and then download their free charts.
Any questions let us know.
Johnathon
William MG says
Hi Johnathan,
I want to subscribe to your trading news.
Harrish Sharma says
Thank you very much.
Harrish Sharma
magladys says
Hi Jonatha
I am from South Africa what is the best broker you can recommend, i am new in trading, i tried trading with Financika and they are not good at all
Regards
Gladys
smitech says
hi Johnathon,
Your article is very insightful. I am from Nigeria and a new trader. Hope, I can also use the brokers outside USA, i.e. pepper or IC?
Zila says
Hi Jonathan
It’s been a pleasure being on this program. I’ve just opened a demo, should I be expecting calls for coaching from them? At this point I’m using my limited knowledge gained from fanancika, ever heard of them. I lost all the funds in my account with them.
Johnathon Fox says
HI Zila,
nice to hear from you.
No, i’ve never heard of them, but to be honest, there are so many thousands of brokers now and so many of them just spamming off the big guys like IC and a few of the others who do a really great job.
There are other really good brokers out there and I am always keeping an eye out and on platforms also, but these two are so cheap, so big and do it so well.
They are a broker and don’t do coaching.
Safe trading.
Johnathon
Tyler says
Johnathan,
Do you have an article talking about MT5 charts? I am curious on your thought of MT5 compared to MT4 + your indicator?
Johnathon Fox says
Heya Tyler,
I do, but it is sitting on my PC and not published 😉
Investopedia has a ton of good info on this sort of thing and they are generally pretty reliable and on the ball!
Johnathon
Johnathon Fox says
Hi Meky,
I am not sure about Forextime. Send me an email if you like and I will send you a list of a few brokers who do this.
Johnathon
meky says
Sir, pls have you used forextime? Do they use New York Close 5 Day chart? Or is there any broker, you can recommend for people from Nigeria, plsss.
can ho city garden says
I was suggested this website via my cousin. I am not sure whether this
submit is written by way of him as nobody else understand such certain about my trouble.
You are wonderful! Thanks!
prea says
Do you have any experience with fxpro? Please help me if the broker is reliable in term of spread and ECN etc. Thanks much
Johnathon Fox says
Hi Prea,
the experience I had with FXpro was quite a few years ago now when there was literally no competition arouund, they were one of the very few New York close brokers using MT4 charts. In the last 5/6 or six years everything has changed. Every man and his dog offers 5 day trading and MT4 charts.
I know they have changed what they offer as well so I can not say any more with a honest, good and up to date review for you what they are doing now.
You can do this though if this is the broker you have your eye on and want to trade with as you think you would be most comfortable with them.
Do as i recommend in this lesson; Make a list of the “Major things that the broker MUST MEET” such as >> They must be regulated, they must segregate their funds, they must have NY close charts, etc, etc and all the musts that YOU NEED.
Then if the brokers meets your list, test them. Open a very small live account to test how they are with deposits & withdrawals. This is how I found one broker lost my money and could not locate it for 50 days. This is how you learn not to go with them! Best to learn these lessons with $200 though right?
I used this method I just gave you for tons of brokers to round down the bests ones to live test with because obviously you don’t want to be depositing and opening accounts with them all and you need a checklist to find the ones to try out.
All the best,
Johnathon
Juan Bete Ngalob says
What’s the difference between a Standard Account from a True ECN Account?
Johnathon Fox says
Heya Juan,
most brokers have the same or very similar setup. They will have a standard and an ECN account.
Basically it is just the two options with how the accounts are set up and how you want run your broking account.
The standard account means you will have solid spreads, BUT will NOT pay commissions.
The ECN account means you will get tighter spreads, BUT you WILL pay commissions and these will vary from broker to broker just like the spreads vary.
Safe trading,
Johnathon
Reesa says
Hi Jonathon
I’m looking at using a different platform than mt4.
The ones I’m looking at are ProRealTime, Tradestation, Multicharts.
Do you know of these, if so what are your thoughts
Thanks in advance
Reesa
Johnathon Fox says
Hi Spencer,
I am not sure about Tallinex to be honest with you. In this day and age there are now so many brokers and white label brokers it is very hard. Individuals are literally popping up as brokers and there are now thousands of brokers around the world. I have tested a lot of them, but Tallinex is not one of them. This is not to say they are not great, it’s just as I have just said, there are many these days. To find out of they are NY close you just need to see if their daily candle closes at 5pm New York time also making sure they only have 5 candles per week and not 6.
Whether you get the pro or classic is a personal choice. This is how most STP brokers work things. They have one account that has good spreads, but they do not charge commissions and this would be the Classic account and the other account would charge commissions, but have better spreads and that would be the pro or ECN. Completely personal choice which way you go.
Johnathon
spencer says
Hi Jonathon,
I am in the states and currently using the broker Tallinex. If you could give me your opinion on them I would greatly appreciate it. I have not had any problems but do not know if they operate on New York 5 day close charts.
Also in regard to FXchoice which account type should I choose? For example MT4 pro or MT4 classic variable.
Thanks,
Spencer
Paula Penn says
Hi Johnathon
I was wondering Johnathon if you are able to keep your demo account if you open a live account.
Johnathon Fox says
Hi Paula,
yes! A Demo account and live account are two completely different things with two different numbers.
The other things is; you can open as many demo accounts as you want and I strongly encourage this over time. You will probably find that your demo will only last 30 days, but what you do then is take the balance of your current demo, for example; say you have managed to build your demo from $5,000 to $6,000, take the $6,000 figure and open the new demo with $6,000 instead of the normal $5,000, that way you are continually going up and down and keeping track as you open new demos.
You just use your trade journal then for trade tracking.
Johnathon
Johnathon Fox says
Hi Harrish,
if you sign up through Forex School Online you will not pay any fees for depositing or withdrawing. This goes for all methods including credit cards.
Johnathon
Harrish Sharma says
Hi Johnathan,
I am very pleased to inform that the 3% Bank Processing Fee charged by IC Markets on my initial deposit was refunded to my account on your intervention even though I did not sign up for a live account through FSO website. This fee has also been waived for all future deposits and withdrawals.
I am thankful to you by heart for the personal efforts taken by you to solve this issue with IC Markets.
I am sure that FCO members will take this opportunity to open live accounts with the recommended brokers without any processing fees as clearly mentioned in the ‘Awesome Note’ on this page.
I appreciate your willingness to help new traders not only to train them in trading but also solving their problems arising during their learning process.
Many-many thanks to you.
Harrish Sharma
Senzo says
Hello John
thank you for answering my question but I got other questions here.
there is this broker that I tried to use and they have 6 candles a week if I tell them that I can not work with them because they have 6 candles instead 5 candles a week they telling me that once I deposits the money they can change the platform to New York close 5 day chart. I want to know from you that is it possible to change for me only while other of their client using 6 candle chart?.
Johnathon Fox says
Hello Senzo,
It sounds like a load of rubbish, but I can’t know for sure until you tell me who it is and then I can tell you.
Who is the broker? Some brokers can give you both 5 day and 6 day charts depending on their feed, but this is only a few major brokers and they should be able to give you this on demo as well if you want it.
The whole reason a broker gives you a demo is so that you can try them out, you like them and then you sign on with them as a live client.
Don’t give any broker money into a live account looking to get some service that you have not already seen.
Johnathon
Elaine G says
HI Jonathan, reading through your site and saw this question: OANDA told me this also. I’ve been trying them out on Demo and found that their spreads are ridiculously high, even in non-news times. I couldn’t figure out how a trade had been stopped out when no daily candle had come within 28 pips of my stop. I sent an email to my acct mgr who called me and told me it was because there was a 30-pip spread! He then tried to justify that although it was over 12 hours AFTER the news event, that because it “is an odd currency pair and not a major”, (AUDUSD?? Seriously?) that the spreads extended longer after the news. THEN he quickly changed topics and tried to convince me I could “build your new career” if ONLY I opened a live account with $50. After I picked my jaw up off the floor, I told him “I already gave to charity this year”.
He hasn’t called back… 😉
I’m going to try out FXChoice-but I have to admit, I’ve been VERY happy with another broker (Tallinex) despite them not having 5-day charts. They DID say they are looking into implementing them in the near future since quite a few people have requested them,
Elaine G says
Hi again Jonathan, since I’ve been really happy with my non-5-day broker, (who may well implement 5-day in the near futureH; do you know any Chart services, NOT broker, that offer this? I haven’t checked yet-I will as soon as I’m done with this, but 2 examples of what I’m taking about would be TechnicianApp by ChartIQ or TradingView. I’m sure there are others out there.
I’ll check the 2 above and let you know if I can figure it out.
Senzo says
Hello Fox
I just want to know the difference between mt4 and ctrader plantform?
Senzo
Johnathon Fox says
Hello Senzo,
there is not a major difference in the way that cTrader functions. It is still a solid platform to make trades, but the major differences are how it looks, feels and it set up.
Other than the look & feel the biggest difference is that brokers can access “True Ecn” trading rather than just “Ecn Style” with the cTrader platforms with spreads starting from 0 pips. This means that you will pay smaller spreads, but commissions on every trade you make.
The other changes of note are the extra time frames in cTrader compared to MT4, but this is not a huge deal because there is a work around.
What you need to keep in mind is that if you are using anything like change time indicators or position size indicator or any other indicators at all that are built for MT4, these obviously wont work in cTrader as well.
Safe trading,
Johnathon
Senzo says
Thank you Johnathon for this kind of usefull information it help me a lot but how can I found out if a broker has a segregated fund or not?
senzo
Senzo says
How must I know if a broker has new York close 5 day mt4 and why the people in US must use the different broker to the people outside US.
which broker can you recommend for people in South Africa? and please explain to me meaning of segregated fund.
Johnathon Fox says
Hello Senzo,
you will know if a broker has charts with 5 day New York close candles or not by the time their daily candles close and if they have 5 candles per week or 6. Their daily candles should be closing in-line with NY each day.
The reason we have a broker that is different for US traders is because a few years back now the US government clamped down on trading and make a bunch of strict rules. When they did this the vast majority of brokers outside of the US stopped allowing US traders to trade with them apart from a few and the ones that did still accept US traders normally had the same very strict rules in place such as max 50:1 leverage etc.
So in answering your question; US traders are not accepted with the first broker because of what I have just explained, but they can join the second broker. This second broker is one of the very few that does not hold US traders to the normal CFTC rules because it is not based within the US.
You should look at the first broker that is outside the US. I have accounts with both of these brokers, but for you the outside would be the best option.
Segregated funds means that they are keeping clients funds “Segregated” away in a safe bank completely separately to all the company funds and not actually using them for other purposes they should not be; such as joining them with their own brokers funds and then sending them overseas as part of hedging.
If you need anything else let me know,
Johnathon
Rahman says
Hi,
Can you please recommended any good broker for UK . I have been looking for a long time.
Thanks,
Rahman
ForexSchoolOnline says
Hello Rahman,
for all traders outside the US the recommended broker is IC Markets as they have everything needed for a price action trader to start trading and traders can also open accounts in many different currencies including the pound and then deposit/withdraw with a lot of different methods.
Another thing that interests a lot of traders is that traders can trade with either MT4, MT5 or C-trader and the MT4 can be downloaded onto a mac without the need for any conversion equipment whatsoever.
Johnathon
fred tess says
do you know a ECN and STP execution broker
thank for your answer
Fred
Johnathon Fox says
Hello Fred,
all of the brokers discussed in this article are ECN style, Straight Through Processing (STP) Brokers.
Any other questions just let me know,
Johnathon
andrew says
whats the best broker you recommend John for people within Australia. ? I’m from perth.
Pepperstone or ICMarkets ??
R
ForexSchoolOnline says
Hello Andrew,
for outside the US, IC Markets are solid Straight Through Processing (STP) Broker that are not going to trade against you or play any silly tricks. They are not making money when you lose and are making money from your commissions and spreads.
As I have list in the stats, they have everything we as price action traders need. They also heavily watched for the financial watchdogs through ASIC and have to segregate client (your) funds from their own which is good for peace of mind.
Safe trading,
Johnathon
kareemalabi says
Please please please, happy out the problem I hav now is how to set a correct (stop lose )and (take profit) all copy an past my trade don’t accept it, pls which formula or method I can use to set my stop los and take profit, pls help me our i want to enter live trade