Marketiva is a good, easy to use forex trading platform for smaller account holders. Its main focus is on newer traders, who have somewhat different needs from experienced traders. It is also an excellent choice for Islamic traders because Marketiva is a “swap-free” forex broker , meaning that rollover, or swap interest is not applied to any positions held overnight, in line with Sharia Law. Within the trading platform is a chat program where traders can interact and exchange ideas about trading, and can also interact with support staff in several different languages. Higher end functionality is not available and liquidity can be a problem for larger orders, but a small retail trader is not likely to run into any problems. All new accounts receive $5.00 in their real money account just for registering.
http://www.marketiva.com/?gid=47264
Marketiva Trading Conditions
Browser platform: No
Does the broker offer a trading platform that can run in web browsers? If so, which one? Some brokers license their platforms from third-party providers, while some develop their own proprietary systems.
Downloadable platform: Novativa Streamster�
Does the broker offer a downloadable application for its platform? If so, which one? Some brokers license their platforms from third-party providers, while some develop their own proprietary systems.
Mobile platform: No
Some brokers offer a simplified version of their trading platform that can run on mobile devices. Some of these brokers license their mobile platforms from third-party providers, while others develop their own proprietary mobile trading systems.
Phone dealing: No
Does the broker offer clients a way to contact their dealing desk via telephone? This can be very helpful to traders who want to manage their positions when there is no internet connection available.
No Dealing Desk Execution: Yes
Some brokers offer ‘no dealing desk’ execution, which means client orders are automatically routed to a higher tier. Please note that some brokers use automated dealing desks. For this purpose we only consider only manual execution as having a “dealing desk”.
Fixed spreads: No
Some market makers decide to offer their clients fixed spreads, meaning that the spreads do NOT widen at any time, even during highly illiquid periods such as important economic releases. Please note however, that in most such cases, orders will be slipped or not executed, and that these fixed spreads are generally higher than variable spreads, and are not representative of the true market.
Guaranteed stop losses? Yes
Some market makers offer a “no slippage” guarantee on some client orders. This is fairly common for stop-loss orders, but may also be expanded to include all standing orders.
Hedging capability: Yes (some restrictions apply)
Does the broker allow traders to hold both long and short positions in the same currency at the same time? This is somewhat pointless, but some traders insist on it regardless.
Trading Hours: Sun. 21:00GMT – Fri. 21:00GMT
The forex is a 24/5 market but different brokers can choose different times at which they begin and their dealing each week. Some brokers offer “after hours” dealing. This normally incurs higher spread costs due to the thin liquidity though.
Timezone GMT
This is the timezone of the broker’s chart data feed. It can be important in some cases, particularly when it comes to “Sunday bars” on the charts, which are usually not full day bars, and as a result can throw off some technical analysis tools and mechanical trading systems.
Scalping allowed: No
The general rule is that market makers do not like scalping, while ECN/STP type brokers don’t mind it. Some brokers choose not to follow that rule though. The exact definition of what scalping is can vary from broker to broker also.
Account currencies available: AUD, CAD, CHF, EUR, GBP, JPY, USD
Which currencies can your margin account be denominated in? Most brokers offer USD accounts, but an increasing number are starting to let clients have their accounts in EUR, JPY, GBP, and other currencies.
Platform languages: English
Which languages is the broker’s trading platform(s) available in?
Support languages: Many
Which languages is the broker’s customer support available in?
Demo account: Unlimited
Does the broker offer free demo accounts, and if so, for how long?
Live chat support: Yes – within trading platform
Does this broker have live chat support, and when is it available?
Promotions & tournaments: $5.00 real money free for all new accounts (no deposit necessary).
Does the broker offer any additional incentives to traders, such as bonuses on their deposits, or trading tournaments with real prizes?
Swap-free accounts Yes – no extra fees are incurred on Islamic style accounts
Does the broker offer accounts that do not carry any interest on positions held over night? This is of particular interest to Islamic traders who are prohibited from collecting/paying interest due to religious reasons. Some brokers levy additional charges for such accounts, because they are susceptible to abuse.
Typical spread on EUR/USD: 2 pips (0.0002)
EUR/USD spread during normal market conditions. Please note that the actual spread may be wider in illiquid market conditions.
Order processing: Market Maker
Does the broker pass your orders directly to a higher tier, or do they make a market among their clients and themselves first?
OCO orders available: No
Does the platform offer “One cancels other” order types?
Trailing Stops: None
Many brokers offer traders the ability to set trailing stop-loss orders. These orders can be client-side or server-side. Since trailing stops are not real orders in the market, the trading platform has to take care of them. Client-side trailing stops run your computer and are only valid when your trading platform is open and online. Server-side trailing stops run on the broker servers, so they do not depend on you having the platform open.
If/then orders available: No
Does the platform offer conditional order types?
Account Types
Most forex brokers offer different account types to clients, normally depending on the size of the account. Different trading conditions apply to each account type, with smaller accounts usually being allowed smaller deal sizes, and larger accounts being given lower transaction costs, extra services, better order execution or other promotions.
Account Maximum
Leverage Minimum/Maximum
deposit: Minimum/Maximum
trade size: Notes
Standard Account 100:1* $1/unlimited 1/300,000 Swap-free account
Tradeable Instruments: 17 + Show Details
AUD/CAD, AUD/JPY, AUD/USD, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/CHF, GBP/JPY, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY
The number of instruments that this broker has available to trade. If you click on the “Show Details” link, you will see the full list.
Automated Trading: No
Does the platform offer traders the ability to program and deploy automated trading systems?
Depth of market view (Liquidity):
Do any of the broker’s platforms offer a access to the available liquidity, or pending orders that are in the system. This can be very useful in gauging market sentiment and seeing clusters of orders, at least on the ECN that your broker has access to.
Interest on Margin: No
Some brokers pay you interest on your unused balance, just for holding money with them. They do sometimes have minimum monthly trading volume requirements if you want to qualify for interest payments.
http://www.marketiva.com/