What is a good broker to start with?

Broker Discussion Forex Brokers
1

I’ve been trading on demo (teletrade) for a little over a year now and i’m thinking of going live.
I’ve read a few topics around here about what to go for beginning and i’ve got down to these 3 brokers

Alpari

exness

HotForex

I haven’t tried any of their demos, gonna do that today, but i want to know if there are any big disadvantages or things i should worry about for any of them.
I’m also interested in anymore suggestions for brokers on mini lots.

I am trading every day so i’m scalping/intraday
I want MT4
Fast executions
Fast withdrawals
Good spreads
Good customer service

Thanks, pippip

2

I think you should try their demo and read feedback about them from other topics in this box. Those broker are well-known so I think you can easily find out it.

3

I’m not a big fan of either of them

4

Yes, I think so. Because you’re US-based.

5

I’m in the Same place where you are, though my 3 choices are Alpari, Dukascopy, and FinFX, though for Scalping i think Alpari is not possible

7

Hi Fares92,

Thank you for your post.

You’re allowed to scalp on all instruments on MT4 and MT5. We don’t restrict any trading strategies.

Alex

Alexander Chadwick
Alpari (UK) Representative

8

Really? I never knew this. Ok, do you place any restriction on country or place of residence?

9

Hi isrealz,

Opening an account with Alpari UK is easy. However due to global banking and regulatory restrictions, we are unable to process applications from residents of certain countries. To see if you are eligible, please select the nature of your account and country.

Alex

Alexander Chadwick
Alpari (UK) Representative

10

Where’s the topic owner? What’s your choice? A new broker or one among of your listed brokers.

11

You might also consider these brokers if you intend to trade volatile markets by any chance: Dukascopy, Armada Markets, FXCM, Saxo. Enjoy!

12

alpari is a known broker no doubt about it, though they are a little strict with scalpers, especially thoes who resort to arbitrage, exness not so sure, have not tried them, hotforex is ok if the conditions are right, it would be a good idea to try a very small account with each maybe with minimum if you have some extra to spare and compare first hand before choosing.

13

Hi friend
i have been trading with Armada markets and its pretty good than my previous brokers .i gives me 1:500 leverage with ECN account so i enjoy 0 pip spread on major pairs. Also the best part is that they platform you see market depth and make better trades. You can enjoy their other MT4 tools like once-click trader (EA ),myfxbook (autotrade) tools and improve your trading methods with time .Platform is bulit on LMAX technology which offers fast exceution and less slippage so you can even try scalping and make quick bucks.Regarding funds withdrawal and deposit are also fast and easy. Above all its regulated ministry of economic Estonia so you can be safe about your funds

14

hi,

I would recommend OANDA and than especially the webbased tool FXtrade. Why? Well it is in units so even with a small starting amount you can easily trade very small positions, all according to your well defined trading plan containing your strategy, risk management and money management.

I know that using FXtrade for analyse your chart, sucks. And also as one of your requirements is a MT4 platform. I would distinguish between a broker for analyse and a broker for execution.

So my recommendation would be:

  • Hotforex for MT4 analysis
  • OANDA FXtrade for executing your trades
15

There are many things a person must look in a broker before starting with it. Generally the first question comes whether it’s regulated or not as that is the first priority of a good broker. I always prefer to trade with Octafx as their activity is supervised and regulated by the authorities of Saint Vincent and the Grenadines under the International Business Companies (Amendment and Consolidation) Act, chapter 149 of the revised laws of Saint Vincent and the Grenadines, 2009, section 5(1) so been a legit company help a client to be satisfied with his funds been safe.

16

A good broker to start is a broker requires small initial deposit and you can easily withdraw (without verifying your acc). Stable platform and support Analysic for trader. It help improve the trading skill of trader.

17

Without verifying our account??. I think that its not secure broker and tend to be a fake and scam broker. I recommend to trade in fair and honest broker, such as liteforex broker. I’ve been making money since 2008 there. so far is great choice…

18

So follow your post, we must open 2 live accounts, 1 in hotforex to receive analysis and apply them to trade in Oanda?

19

i started with liteforex. they have low deposit and they have many demo contest. i like it. you can try with them

20

There are loads of brokers in forex.Thats why in choosing a broker you need to try out their service untill you can arrive at the one that suit your trading needs and style. I think you should also consider profiforex and or maybe oanda they also offer good service.