About BroCo. BroCo Inc. was launched by people who earned money trading in worldwide financial markets and through IB activities, much like myself. BroCo recently won the Broker of the year award at the Russian Forex Expo, their other company WHC won last year. Reason being they are on the cutting edge with their proprietary technology and they listen to their clients and IBs. BroCo is where I trade and in my opinion is the best broker anywhere. They have created a proprietary P.A.M.M. system that can be used on their MT4 platforms. The manager must put $3,000 of his own money in the P.A.M.M. as a safeguard against churning and other abuses. All client accounts are guaranteed through the Ingosstrah insurance company with a $10,000,000 policy in place. They also offer segregated funds accounts for those with $100,000 or more to invest. On the other hand they allow you to fund by Moneybookers or Webmoney if your account is small or you want to use a bank card. They have their own radio station and you can visit the forum here. In addition they also have various trading contests for clients.
Broco Investor- Currenex through MT4. BroCo offers Currenex through the Meta Trader 4 platform utilizing market orders and limits which means no requotes, just fills. The minimum trade size is 10,000 or 1 mini lot if you prefer. The leverage is fixed at 100 to 1 regardless of account size. They have no minimum deposit at BroCo which means for the first time in the history of currency trading you can access Currenex for as little as $100. The commission is a flat rate $5 round turn per 100,000 (1 lot).
Currenex is a level 2 ECN which is a favorite of many banks and traders, with market order entry, fill and kill order type, and a variety of market depth display options. Since it is Currenex the spreads are free floating and not fixed. Unlike trading with Currenex directly with Broco Investor you can hedge your trades as well. The platform now has 21 currency pairs and will be bumped up to 29 eventually. To try a demo click here.
Original Platform- Broco Trader has 57 currency pairs, spot metals, hundreds of CFDs and fixed spreads. Broco Trader is modeled after the companies original platform WHC Trader 4. It has market orders, limits and automatic execution. I have personally received numerous price improvements on my market orders on it. The spreads are tight and fixed on the currency and the spreads are likewise fixed on Spot metals and the hundreds of CFDs they offer on this platform. It has every commodity CFD you want and then some as well as stocks CFDs at 4 to 1 leverage. There is no minimum deposit is $1. You can trade micro lots on this platform, but not the Broco Investor platform. You can hedge with them and place limits inside the spread there as well. To try a demo click here.
Lazer Trade- award winning stock platform with direct access to U.S. stock exchanges. Plugging directly into the NYSE, NASDAQ and ECN means response times in less than a millisecond and access to 13,500 shares. That is why Lazer Trade is the only platform to win the Platinum Certificate for order placement from the NASD. Why would you trade on anything else? Through Broco you will receive low commissions $10 or less, 1:4 leverage during the day and 1:2 overnight. The platform accepts trades between 8 a.m. and 6:30 p.m. EST allowing you to be in the market while others are still in bed. The Lazer Trade platform allows you to run automated trading systems and gives you access to all the data you need to be successful. You can chat with other traders and stock brokers through built in software and you can expect low commissions as well. The minimum account size is $1,000 and the monthly fee for the platform is $199. To learn more and open an account through BroCo using the award winning Lazer Trade platform click here.
Strategy Runner-BroCo offers the Strategy Runner platform. With this software you see full market depth on Currenex, trade futures and run strategies deigned for Tradestation and other platforms. The price feed is the same as BroCo Investor and the conditions are similar to Broco Investor except that the commission is .5 pips instead of a flat $5 per 100,000. Direct to exchange futures trading was added to it on June 1st, 2009. You can request a demo here. The minimum deposit for Strategy Runner accounts is $100,000. More information about Strategy Runner can be found here.
Technical Note- Due to the set up of MT4 if you enable market orders like Broco has it is impossible to place stops and limits on the market order ticket. So you must enter your stops and limits on your market orders once the order has been filled. Expert Advisors who place orders using the "instant execution" order type (which is really a limit) on MT4 will need to be modified to place stops and limits after the market order is placed. This is the case because when you enter at market the price you set for your limit or stop may be reached before you are filled. You can place pending orders normally both manually and with Expert Advisors.
MT4 Platform highlights include:
Tight fixed spreads. (Broco Trader)
57 spot currency pairs (Broco Trader)
Market order entry, no requotes (Both)
Place stops and limits anywhere (Broco Investor)
Low flat commission for all pairs (Broco Investor)
Over 300 CFD to trade on live accounts (Broco Trader)
Standard, mini, and micro lots (Broco Trader)
Free real time commodity charts (Broco Trader)
Wide selection of leverage available (Broco Trader)
No earnings reporting to tax authorities (Both)
Ability to hedge and run E.A. (Both)
All accounts insured in case of financial collapse (Both)
Automatic execution of all orders (Both)
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