Hello everyone
I just slowing going through the the school of pipsology, hope to start demo trade in about 3weeks time. I am not sure which broker to sign up with? I will be starting off with $1000 (AUD).
Anyone can suggest to me some good brokers out there?
thank you in advance
Logic tells me to advise the brokerage that I work for, however instead I would suggest to have a look at the basic tips here on babypips, just search “how to chose a broker” and there is some info in the School (I am a reader not a poster, so I can’t post even internal links, sorry about that )
Also some brokers work well for some but not others, as You also have to consider the broker depending on Your trading style, for instance many PA Traders go for brokers with NY candles, so that they have 5 candles on the charts instead of 6. Me - I don’t care much about that even though I use PA for trading, but it is not about me, You have to decide what is best. Spreads - if You are scalping You need to make sure You will have tight spreads, but also that broker is not a Market Maker.
Also bear in mind that regulation is not everything, some brokers might be regulated by commonly known regulatory bodies that are considered to provide You extra security but even if the broker is regulated You might have issues. Most prominent cases of clients losing their deposits were all related to large, famous US brokerages (Refco, PFGBest and MF Global) who did fall within that “securities” scope…
General things to look for IMHO:
Withdrawal process, Customer Service & Support, Order Execution, Type of Broker (ECN/Market Maker/etc), Regulators, Conditions.
Hi x5524662
Thank you very much for your reply,will take note of that
regards
You are very welcome! 
Nowadays, we find it complicated to get the rightful broker for us because a lot of brokers are in the forex world that are acting like they are real when it comes to good services. I have been doing thorough research about some few brokers like profiforex, spot forex and hotforex. But right now, I’m presently trading with the first in the list since I appreciate their excellent costumer support and 24-hour technical support across various communication channels to help you succeed in the market by all means.
Find a forex ratings site and pick some choices, than google to read its feedback while read its terms and conditions. You should find a broker that can fulfill your needs, not the broker everyone like since we have a lot of brokers out there. I meant as Bob5 like profiforex since it has excellent CS and TS. While other people prefer small spread can like HotForex. While others prefer fast payment can come to Exness or Forex4You.
I know this too because I have an account with them. However, one thing you should know is that brokers don’t usually help you succeed. They just give you the tools. Your success depends on your knowledge.
I’m with Oanda (Europe) the funds are in a UK account. I’m assuming you are in Australia…I am as well, they (oanda) are a big brokerage and have been very good. Only one issue with a massive spread on NZD, but that was an isolated incident. I have also used GFT in the past and recommend them as well, but the lot size is not adjustable as it is with Oanda.
You are right, spygirl. But the thing is, if we have all the knowledge and skill to win in trading and we do not have a trust worthy broker by our side, do you think we can succeed?
I personally use AVA Trade , In my experience they are the best. They give a 50% first deposit Bonuses . The minimum deposit is $100 so its quite low (you also get a bonus with $100 too, even though it doesn’t say so). They allow hedging and have excellent customer service, and no problems with withdrawals etc. Never had a problem with them.
They do not accept USA clients though so if you are from USA, I would recommend OANDA or eTORO. eTORO is good but doesn’t support MT4 platforms, so if you want more analysis like MT4 gives you, then go for OANDA.
Eventually you want accounts with brokers all over the world. Start with a reputable one close to home.
One more advice is don’t be lured with bonuses it is just broker marketing tools, nothing wrong with it and it doesn’t blame them anyhow, however try to make evaluation using external independent sources like traders feedback, scam cases, etc. Determine which broker execution would fit your trading - A-book or B-book, there are also brokers using mixed scheme. You’ve touched very painstaking and quite difficult question, probably you’ll need to make comparisons trade live on several of them to make well-founded choice. I picked Hotforex it is my third broker from my trading career, they offer some unique pairs which I trade on low-cost trading conditions. Making your own research is the best way to find what you need.
You something guys…in my opinion this part of deciding which broker to trade with is the hardest part. Because the brokers are central to our succeeding in the market.
You can always use brokers review sites like earnforex, forexsanty and more to make your choice, even here on babypips there are good recommendations.
But it is best to consider some important factors before choosing a broker.
You can check here: How to Trade Forex: How To Choose A Reliable Forex Broker, for things to look out for.
I agree with you, choosing a good broker depends on how much capital you are investing in forex market and what leverage do you want to use for your trading.
As a newbie in Forex trading there are several things you need to understand e.g real leverage, pip cost, margin, etc. Because trading is so complicated you have to understand how to calculate real leverage and then cost per pip. To make things simple, choose a broker who already show cost per pip.
Actual cost per pip= cost per pip x real leverage
Now that you understand why you need to calculate cost/pip, I recommend FXCM. They already display that in their FXCM tradestation. You can also use indicators on an MT4 account… hpe it helps
-Kevin Miole Trades
I’d say start with Etoro for starters with Demo account just for you do get the hang of things. The you can step it up and try Openbook where you can copy traders and learn at the same time. 
Broker should be regulates and trusted. Where you can trade with confidence . My broker gives me safety of funds, no re-quotes so that I can trade in time when I am eager to trade on certain market position. They give variety of STP accounts. I can trade on demo to test any new trading system until I am not skilled in it.