which is the best broker for trading cpi?
So yeah, today i wanted trading cpi and my broker suddenly reduced the leverage causing me not to be able to trade. I was really upset and that's why i created this thread. Please which is the best broker for trading cpi who will not cut leverage or do something funny on the eve of cpi release? Thanks
It will be a broker that does not widen spreads before the cpi release, remember you need to open a trade a few minutes before the cpi release, It would also be a broker that will honor pending orders set before the cpi release. Some brokers will dishonor pending orders set before cpi release thus making you iss out.
this is not a recommendation, but I found that brokers like TD365, Trade Nation & Tickmill, meet the above criteria and are good brokers for trading cpi.
I'll definitely advice you not to trade CPI news itself if you don't already have a position in the market that is well in profit.
When trading news, there is a risk of bad fill of your positions. If the market is moving or gaps, your SL will not get hit at your price.
For example, if you had a 10 pips SL, and the market gaps or moves 40 pips in micro seconds (common during news), you will get a fill at -40 pips. I've seen it happen with td365, they don't have guaranteed fill.
The position was not during any active news, it just so happened that Trump said something, and the EURUSD went down 20 pips in a second. The stop was hit at the news best price, not at my set SL.
If your broker does not have a guaranteed Stop loss, there is a big risk that you will lose all your equity on just on trade on that CPI day. If you must trade CPI, choose a broker with GSLO.