Which is your best broker?

I fully agree with your view! We should be very careful. I would like to add some warnings too - a list of six unauthorized forex and binary options in Italy.

Hi,

Am also new to this forum and I can tell you there are tons of brokers with so many advantages but as far as me I believe Dukascopy is one of the best broker for trading FOREX with so many offers but when it comes to Binary options there spreads are too high. For binary options I have traded with AMEXFA broker and they are good but problem is they never give any promotional offers.

Seriously I am surprised. I don’t see too many people happy with that spread especially if you are scalping. I won’t comment for long term traders, as for them spread is not an issue. I am scalper, so for me spread matters a lot and that’s why I am working with TradeWiseFx, as they offer zero spread account.

How long have you been with them? Have you been long enough to make any withdrawals, and if so how reactive where they?

Ha, the best broker would the one that pays back their clients’ hard earned money, because some brokers don’t do even that and then they block their clients’ accounts when the clients call them to ask what the problem is.

Seriously though, the best broker is the one that is licensed, provides excellent customer support, its platform doesn’t lose connection, has small spreads, doesn’t cause problems for scalpers, etc.

I have been with them since 2-3 months to be exact. So far I have made 5 withdrawals in total, ranging between 40 to 80 dollars; I have received it mainly within 24 hours from the requested time. The good little part is, TradeWiseFx don’t charge anything for depositing or withdrawal, although this is hardly concern if you are good enough as trader, but in other way, it is good to have that, as no one mind saving some money especially when we know some brokers charge 2-3% for deposit/withdrawal stuff.

Which broker do you use then?? as far as I am concerned all brokers are regulated with tight spreads, excellent support and platform which is always connected (at least they all advertise that) :o)))

How would they make money then if the spread is zero all the time?? :53:

You have been trading with TradeWiseFx for how long? have you successfully withdrawn your money and if so how fast where they? I guess

You forgot the MOST important part = a broker that actually pays your profit!

Here is a list of REAL withdrawals I made with Exness and XM =
Photoshar.in - Free & Detailed Image Hosting
Photoshar.in - Free & Detailed Image Hosting

I never had any problem with FreshForex. Dealing Rates and live trading available 24/7. Another thing about FreshForex is their spreads, so far, for me, they have the tighest spreads, no doubt. Therefore, I think its easier for trading. Except that one down side is the leverage max 1:1000. That seems to fit me to control my risk to the smallest extent.

by charging you a commission based on the order volume. so for every 1M traded or 100K (1 lot), brokers will charge a commission, round-trip. also, some brokers get paid by their LPs based on the volume the redirect to said LP.

the name of the game is: volume. the more volume a client generates, the better the client is treated.

so forget getting pro- anything as long as you play with nano-, micro-, mini- lots.

This is my choice as well, especially when we can earn on oil - I mean this broker offers CFDs as well as currencie. This is an advantage too.

FreshForex is my best broker and im glad to be a client. I like the flexible quantity, no interest and no slippage that they have, they help me a lot with my style of trading.

I am not surprised something like this happened in Russia, what with them introducing licensing only recently, as far as I know. Not that it can’t happen elsewhere too, it’s just that when there’s no regulation the risk increases immensely.

Regardless of how good of a trader I was, I wouldn’t want to be charged for money transfers, to be honest. Why spend that money on something like this when you can keep them for yourself.

Well, I have been trading with 2 brokers. XM and Finpro Trading. Well both seem equally good but I feel FPT got a lil more advantage. While trading on XM, i found out thier spreads too wide(they dont charge commission) but the spreads were too high. FPT charges commission but its very small and affordable. But thier spreads are actually tight. on EURUSD, I usually find the spread to be 0.4-0.8 max. FPT has a better platform…Finprostation. I trade majorly through FPT. XM is good too… goodplatform… but due to spreads I trade under limits. Try both
FPT- 4/5 XM- 3/5

I hope such traders will be banned in future either!!!

guys, i am astonished by the lack of knowledge on this forum. so let me please help clarify so that this issue can be put to rest once and for all.

the question is: ‘Which is your best broker?’

the question should be: ‘How do you determine which broker is best?’

FACT1: the majority of retail traders will lose everything.

FACT2: a brokerage is a business, therefore not a charity, therefore exists for one reason only: NOT TO HELP YOU, BUT TO MAKE MONEY FOR THE BROKERAGE.

FACT3: knowing FACT1, many brokers are tempted to pocket the client losses as a profit for the broker instead of passing the orders straight through to the LPs and let someone else make the profit.

knowing all this, the ANSWER is:

[B]—>[/B] A BROKER THAT WILL NOT BE TEMPTED TO POCKET THE PROFIT COMING FROM ITS CLIENTS’ LOSSES KNOWING THAT MOST OF ITS CLIENTS WILL LOSE ANYWAY [B]<—[/B]

so whether the broker offers an ECN venue or not, whether it is STP or not, is all irrelevant because underneath, the broker software keeps track of statistics on all its clients. this helps the broker categorize its clients and decide which client should be on the B-book (market maker model) and which client should be on the A-book (agency model, also sometimes DMA model but DMA could be implemented differently than the agency model, but either way, the broker is never the counterpart to your trades, whereas it is in the B-book model; now, you can have ECN brokers that have to be the counterpart to each of your trades (for hedging purposes and/or legal requirements between them and their prime broker who is extending the credit lines to your broker so that you and other retail trader can trade) but will not act as a market maker; so you see, you can have ECN with thee also broker the counterpart to all your trades, in which case the question becomes: will the broker be tempted?)

so if you can determine whether your broker will be tempted, then you will know. if you cannot, then you will not know if they trade against you. unless, of course, they tell you in the legal documents.

also, having the broker on the other side of the trade does not mean it is a problem. it becomes a problem if the broker becomes tempted to cheat you because they lose too much money and don’t have a way to hedge the trade risk.

so there are market makers who will not cheat the client. instead, once they realize their clients become to good and win more than the broker, the broker will hedge this client risk with external LPs (liquidity providers) BUT if they do not have the software infrastructure or prime broker/bank relationships to access external LPs, then they cannot and will have to cheat the clients by manipulating the price feed to either trigger stop losses, margin calls, requotes, and so on.

now, i hope this whole issue is clear once and for all.

well, i had tried some of brokers , but i think only forexmart is suitable for me
no risk for 1st time tried them because their no deposit bonus, and they are regulated too
good fixed spreads, and great trading conditions with their zero spread account

I haven’t had problems with FreshForex. But I am very sure there are tons of best brokers out there, this is just my personal experince with this broker, you have your own experience with your broker!