Who is best online broker
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Thread: Who is best online broker

  1. #1
    Join Date
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    Question Who is best online broker

    Hi!
    I am newbie to forex. And experience of 2-3 months on demo accounts. From these demo accounts my profit and loss are 50-50. Now I want to switch to Live account. Can some one suggest me the best online trading platform for my live account. Initially i want to start with 250/- to 500/- USD . Live acount may be mini or regular. So want suggestions from experts.

    Thanks in advance

  2. #2
    topgun's Avatar
    topgun is offline Senior Member
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    Trading with account that small really limits your choices. You might want to trade with a micro account. Oanda allows you to trade any position size you want but the only downfall is that their charting platform isn't the greatest and they lack a 4hr chart which is all I trade.

    Topgun

    https://fxtrade.oanda.com/


    Quote Originally Posted by bluesapphire View Post
    Hi!
    I am newbie to forex. And experience of 2-3 months on demo accounts. From these demo accounts my profit and loss are 50-50. Now I want to switch to Live account. Can some one suggest me the best online trading platform for my live account. Initially i want to start with 250/- to 500/- USD . Live acount may be mini or regular. So want suggestions from experts.

    Thanks in advance

  3. #3
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    And what about FXCM?

    Does any broker support paypal for deposit and withdraw money?

    Thanks in advance

  4. #4
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    If you are only planning on despositing 250 to 500 then you definately want to open a micro account. Opening a mini or standard account with 250 or 500 in capital is definately forex market suicide. It wont last long. I've been there and done that. The best micro account broker I have traded with is Oanda. They have no minimum desposit and their spreads are really good. I have read alot of reviews about the spreads going crazy during news time and stopping them out their trades, but I have never had any problems with the spreads. And they do offer withdrawals and deposits via Paypal which is another thing that I like because I use Paypal alot. They do charge a fee though so you need to look into that but its nothing major. The only thing I dont like about Oanda is that they dont offer very high leverages and their platform, to say least, sucks. Their charts suck too but if you want to get free charts that are awesome, then go to Fx Solutions and open up a demo account and download their Fx AccuCharts. Theses charts are awesome. They have everything on them that you will ever need and they are free.

  5. #5
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    Oh yea and about FXCM, I have heard alot of bad things about them and read alot of bad reviews about them. They have been fined several times before and they are nobody I would trust my money with from everything that I have read. If you want to read traders reviews about forex brokers and other forex related reviews go to forexbastards.com. They have reviews about alot of brokers.

  6. #6
    philipwa is offline Senior Member
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    Its better to start with Micro account as topgun also suggested.
    If you have your hands set with MT4. You can try STIFX. There execution is good, i can gurantee you in that, cause i am trading with them LIVE with real money.
    And they accept deposit via credit card..

    Oanda is good as well as TopGun suggested, but sorry havent tried.

    I can only comment on the broker i am trading with. And i repeat i am not marketing here. If i am happy with something, i am speaking it out LOUD.!!

  7. #7
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    Default which is the latest trading software that can generate high profit

    Hello all,am new here and i want to fin out which robot can one use coz am using meta4 trade platform,north finance.
    i need help also which is the best curriency pairs to trade on.

  8. #8
    In2Blues Guest
    Quote Originally Posted by bluesapphire View Post
    Does any broker support paypal for deposit and withdraw money?
    I know PayPal is a big convenience and those of us doing business on the Internet may use it quite a bit.

    However, imho, I would not go near any Forex broker who allows deposits and withdrawals via PayPal.

    To me, it just doesn't look legitimate. I'm not saying PayPal isn't, and the broker may even be so, but it just doesn't seem above board for a financial broker to use such payment methods.

    There is much talk about making sure that your broker is regulated, and rightfully so. Regulation gives an air of legitimacy and some protection for the clients. That air of legitimacy fades quickly, though, when PayPal is associated with it, imo.

    Again, nothing against PayPal. I use them all the time and they're great.

    But, in my mind, it's a completely different situation to use them for Internet transactions as opposed to financial transactions through a broker.

    How many stock brokers use PayPal? Bonds? Futures?

    I don't know of any (feel free to correct me if I'm wrong) so, to me, that says that PayPal is not a payment method that is used by legitimate financial brokers.

    If I were you, I'd think twice about using a Forex broker that allows PayPal payments.

    Terry

  9. #9
    In2Blues Guest
    Quote Originally Posted by tonylegend4u View Post
    Hello all,am new here and i want to fin out which robot can one use coz am using meta4 trade platform,north finance.
    i need help also which is the best curriency pairs to trade on.
    Which "robot" (I'm assuming you mean EA -- Expert Advisor) to use depends on what you want to do. Each EA does something different, depending on your system and trading style.

    As for best currency pairs, that depends on your personal preferences, as well as your risk tolerance. Some pairs are much more volatile than others and move a lot very quickly. Others are tamer and don't move as much. It depends on what you're comfortable with.

    My suggestion is to go through Babypip's school here:

    School of Pipsology - - Beginner's Guide to Forex Trading, Free Forex Education, Learn to Trade Forex, Forex Training - BabyPips.com

    It will give you a good idea of what to expect in various currencies and how to trade them.

    Terry

  10. #10
    daydreamer65's Avatar
    daydreamer65 is offline FX-Men Honorary Member
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    I know PayPal is a big convenience and those of us doing business on the Internet may use it quite a bit.

    However, imho, I would not go near any Forex broker who allows deposits and withdrawals via PayPal.
    Paypal have banned all autosurfs & hyip from using them.

    If paypal even get a hint that a company is a scam they
    will look into that company very closly indeed.

    Also the problem with banning this type of group is the
    negative "press" that it can bring about.

    I am quite happy to fund my Oanda account using my paypal,
    it is a cheaper option than bank transfer for me at this present
    time.

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