Will NordMarkets be the First ECN Broker for Fap Turbo?

Thursday, March 19, 2009, 11:28
FAP TURBO Brokers, Forex Trading
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20 comments

Today I have closed my FAP TURBO account on Admiral Markets broker due to twice increased spreads on EURGBP and GBPCHF currency pairs, what left me trading only EURCHF. Therefore I have been looking for a new broker and my list was very short:

FXCM
Forex.com

Currently I use Forex.com DEMO account, and it gained $700 in 2 days from $10,000 account trading EURCHF, EURGBP, GBPCHF with LRR = 5 and EURUSD with TakeProfit 50, StopLoss 0 and TrailingStop 5. It is awesome results, but…

The spreads are not fixed and yesterday I saw spread on EURGBP varying in the range of 5 to 8, EURCHF – 5-8 and GBPCHF in 8-13 (still I have not got any loss). These spreads are not as much profitable as it could be with lower spreads.

I would love to try FXCM, but they do not offer DEMO accounts and I had noticed many complaints about offquotes (of course, this can be solved by having Forex VPS service).. Only pros I see on them are:

lower spreads (but still varying very heavy on Fap Turbo trading hours);
“The Aslan Group” promotion which offers 0,4 pips rebate on one traded lot (a little compensation if you got losser trades).

So, when I read today FAP TURBO forum about NordMarkets I decided to try them out. They offer Metatrader4 ECN account from $10,000 and MetaTrader4 Mini account from $1000. I would love to open ECN account cause then I could have very low spreads on our beloved currency pairs, but the starting price is way too high.

Therefore I checked Mini account information and I was dissapointed, cause you could trade only EURGBP pair (only this pair’s spread is shown). So, I contacted NordMarkets LIVE support and we chated for a while.

And I have great news!!!

Everyone can open ECN account with only $2000 initial deposit. Only one cons – you will get 50X or 75X leverage and the minimum trade size is 0.4 lot. Quite good option! Here is all information from the chat with NordMarkets operator.

Robertas:
Curency pairs on mini account and their spreads
Welcome Robertas. Your request has been directed to the Customer Service department. Please wait for our operators to answer your call.
Call accepted by operator FXOperations. Currently in room: Robertas, FXOperations.
FXOperations:
You can find it here: http://nordmarkets.com/index.php?option=com_content&task=view&id=82&Itemid=80〈=en
Robertas:
only these pairs ?
FXOperations:
On MINI, yes.
Robertas:
what about EURCHF, GBPCHF ?
FXOperations:
We can add them if you wish.
FXOperations:
We just started with MT4. We’re developing it constantly.
FXOperations:
You got +40 pairs on the ECN account.
Robertas:
what spreads it could have ?
Robertas:
I have not 10K to open ECN account
FXOperations:
How much are you looking to trade with?
Robertas:
1K or 2K at the begining
FXOperations:
If you can deposit 2k. You can open ECN account with 50X or 75X leverage.
FXOperations:
ECN is much better when scalping those pairs.
FXOperations:
Your minimum trade size is 0.4 lot. So you got leverage to work with.
Robertas:
Can you tell me the spreads on EURGBP, EURCHF, GBPCHF ?
Robertas:
also, do you allow scalping with EA ? I use FAP TURBO ?
FXOperations:
Yes. We have several traders using FAP EA’s on our ECN accounts.
FXOperations:
It’s not recommended on the MINI account. Wouldn’t wokr.
Robertas:
OK, I will register ECN demo account, to see the spreads how do they vary
FXOperations:
OK. Let us know should you have any questions. We’re here.
Robertas:
what options you have for funding ?
Robertas:
and what fees every option applies ?
FXOperations:
Bank wire and cards (VISA, MC and Diners).
FXOperations:
20 EUR for withdrawal (bank). 2% for card transactions.
Robertas:
how long does it take deposit to be accounted to the trading account, and how long withdrawal takes?
FXOperations:
Will be issued on the same day as long as it’s done before 1400 GMT. Otherwise the next banking day.
Robertas:
Ok, thanks for information, I will take decision on Monday.

P.s. NordMarkets accepts only Non-US residents.

I will open my ECN DEMO account on NordMarkets and we will see what spreads it offers. So if you still are not connected with me, you can start it now. Follow me on Twitter or just subscribe to my full RSS feed or subscribe to my blog news by Email to be noted about latest news from FAP TURBO front and other ways to earn money automatically on Forex.

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Tags: best broker for FAP TURBO, ECN broker, FAP TURBO broker, FAP TURBO ECN

20 Comments on “Will NordMarkets be the First ECN Broker for Fap Turbo?”

Skyroja wrote on 24 September, 2009, 20:21
They will give rebate to everyone who wants to trade at ACM. Your account size does not matter, you can start with the minimum amount ACM defines, unless you are going to have very big account or going to trade a lot, you could discuss the higher rebate level. Everything is going to be available in October. I can just recommend you to write email to ForexTradingChoice.com support and inform that you would like to open new account at ACM.
Serna-Orozco wrote on 24 September, 2009, 16:57
Hello Sykorja, who is these people signing with? ACM? So they will give good rebate to open MT account you mean? Any idea how much or is depends on the account size?
Skyroja wrote on 24 September, 2009, 15:30
Yes, Serna, they can be good, too. Therefore ForexTradingChoice.com – Forex Rebate Service is going to sign IB agreement and offer rebates to all traders.
Serna-Orozco wrote on 24 September, 2009, 15:23
If you liking the MT4 pataform, then now ACM have it as well too. I dont have but I use the normal plataform which it belong to ACM, and which is very nice and confortable to use. Many diferent type of account as well with good spreds.
fapturboswiss wrote on 4 July, 2009, 2:23
cant wait for the NEW fapturbo (the swiss edition)
Skyroja wrote on 1 April, 2009, 12:12
What settings you are trading? What pairs with what LRR.

Why had you bad experience with Forex.com and Alpari? also, Alpari – was it UK or US?
Dimitrij wrote on 1 April, 2009, 10:52
I have FAPTurbo with nordmarkets ecn account for three weeks now. It didn’t work very well on the mini, so they upgraded my account to ecn even when i had almost 1900 dollar in my account. Account is up more than 14%, after commissions. My accounts with IBFX, alpari and Forex.com didn’t come close. I’ll keep evaluating it and update you guys.
Leandro wrote on 25 March, 2009, 11:23
This may be of use for those who wish to continue with the idea of a robot.

http://www.bestsyndication.com/?q=node/26380
Skyroja wrote on 23 March, 2009, 22:44
I checked them today and I can say that Nordmarkets offer 1,7 to 2 pips higher spreads than Forex.com or FXCM. Only USDCAD spread is lower, but it is recommended not to trade with USDCAD.

Therefore, NordMarkets is not an option for me.
Yoohan wrote on 23 March, 2009, 22:31
I am using a ECN Demo account with variable spreads.

Spreads are usually 3-5 for EURGBP and EURCHF during scalping hours, but can climb up to 8-10 for very short periods. With ECN its supply and demand that sets the spreads.

Its too early to say if Nordmarkets is good, but they have been doing fine so far. They are regulated by Swedish authority “Finansinspektionen” but with current legislation its very little transparency and deposits are not protected so I would not put too much money into this broker before they build their reputation.
Leandro wrote on 23 March, 2009, 17:54
Strangley I have just opened a demo with ACM because as Cyrus pointed out they just won an award. As far as robots are concerned, I think I would actually be worried that my missprograming it would not necessarily cause me to lose millions but actually cause me to miss a great trading opportunity! What I found interesting with ACm’s platform was the fact that you can set a trailing stop that will follow the improving price and lock it in at its best level, all that is left is for you to execute. I know it’s not quite a robot but it will still work for you and is probably much easier and free! Good luck on your robot/platform hunt REDCIELO!
Skyroja wrote on 23 March, 2009, 12:22
Yoohan, what demo account you use ?also what settings you defined? I ran it one night, but I was shocked with the spreads they offer.. eurchf had 18, eurgbp had 11.. Who can trade within such spreads ?
Yoohan wrote on 23 March, 2009, 12:05
Hi

I have been demoing Nordmarkets with FAP Turbo since last week. It seems to work quite okay so far, I’m up 11% on the account with 4 trading days. Especially since last week was a very messy week at the forex markets.

Here is my demo account results: http://nordmarketsdemo.mt4stats.com/

I would be very interested to see how a live account at Nordmarkets would perform.

//Yoohan
Skyroja wrote on 20 March, 2009, 22:22
I know that robot can not react fast to ever changing market conditions, but can a newbie in Forex market react faster?

Fap turbo is created for those who have not or have little experience in Forex Markets, therefore this robot is in need. I agree that it can not make as much as you can, but it can make much more than a newbie can make. And robot makes it with risk management which in my mind has the biggest value in its key to success.
Skyroja wrote on 20 March, 2009, 22:18
I am glad you can do it by yourselft, Ernesto. But there are people whom this robot can give some value, depending on the risk they can take. I believe that many of the robots are scam, too, but I am sure that FAP TURBO is an exception, cause I use it and get good results.

I do not talk about doubling initial deposit in one month, but it can double within year and it is much more than any stock or other fund can offer such a return.

Therefore, I am in search of a broker which could give low spreads at FAP TURBO trading hours, and that is why ACM is not in my list.
Ernesto Glass wrote on 20 March, 2009, 18:36
Skyroja, yes, “by yourself” meaning I trade personally, no MM involved, and yes without the use of a robot, I use the indicatores available. I am of the belief that these robots are a bit of a lie, like the guy in the old western movies who would roll into town and sell his elixir of youth, hair restorer etc. by the morning he would be gone and the little hair you had left had turned green! No, good strategy backed by an award winning platform like ACM’s should be more fun and fruitful.
Cyrus wrote on 20 March, 2009, 18:18
Honestly? Why would you want to use a robot? in the event of a sudden out of the ordinary event, natural disaster etc, these robots will not react, no matter what sort of tweaking you program into them. If you are wanting a good platform then I agree with the choice of the ACM one, it won an award this year as well.
Skyroja wrote on 19 March, 2009, 13:24
Maybe you know any reffering brokers which shares the rebates he gets from ACM?
Skyroja wrote on 19 March, 2009, 13:16
Do you use them by yourself ? I saw that they offer “Spread rates are fixed and will only widen in rare occurrences”.
The biggest disadvantage – they require $5000 for standard account and low spreads. With Mini account, you will be able to trade only EURCHF and EUBGP.

I will open Standard DEMO account to see if the spreads are low during FAP TURBO trading hours.
Ernesto Glass wrote on 19 March, 2009, 12:50
Why not look at ACM? 50 tight fractional spreads, 4 platforms, over 50 indicatores, guaranteed fills with certain market orders and a pretty good customer support service. Worth a look.