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10k if you go to them directly, 4k & 5k if you go through other introducing brokerages (captrader or prorealtime respectively). There are other brokerages out there for sure with might have an even lower limit.
I pay 2.34 r/t for M6E with amp/rithmic combination. Need 3 ticks for break even - spread+2 ticks for comms.
Can you help answer these questions from other members on NexusFi?
I trade M6E using IB, cost of a RT is 0,64$ and I never had more than 3 tick slippage (happens during very low volume hours). Most of the time there is 0 tick slippage, some times 1 tick. I use M6E because I can scale in and out. Can't do that with EUR or even E7.
Seems like with the demise of IB's retail forex and FXCM, more retail traders are making their way into the M6E now. Daily volumes now average 10k/day and sometimes getting up to 15k/day. E7 still not getting much attention though. The one think I like about the M6E is that you can easily scale in/out of multiple positions and if one's uses IB, each M6E contract is only $0.64 RT.
I also like the M6E with IB since, as you pointed out, the 64 cent commission makes it feasible to scale in/out.
The M6A and M6B are also decent.
Unfortunately, I find the MCD and the MJY a bit thinner. Especially if you have stops in the market and don't watch closely. Those can move past your stop point relatively easily
Thanks, this is a very encouraging post for us newbies! I think the key thing is what you highlight - to use limit orders rather than market orders.
I think that the trick for us newbies is developing the patience to do this. The temptation is to jump right into the action using market orders but this is probably not a good strategy.
@Surly would you recommend using limit orders in a very liquid market like spot forex or is there not much point? Thanks.