Can anyone recommend a good system for analyising trends in forex? I currently use Plus500 as my broker, but the charts are pretty basic. I tried using GFT and also have MetaTrader 5 up....but would be good to have any recommendations.
And are there any other Plus500 users out there who are happy with the system? Or are there much better ones out there.
I don't mean to sound rude but what made you choose Plus500 over the many other brokers out there with far better platforms? I demoed Plus500 for a while back just cos they were giving out free £20 bonuses which didn't need deposit, but I would never put my own money in. Their platform is far too basic, I didn't even realise there were still 4 point brokers still out there until I came across them. Plus the spreads are too wide, 2 pip on EUR/USD is too much with all the other brokers with 1 pip spread or less.
Personally I think you would have been safer with someone like GFT, or Capital Spreads have a 1 pip fixed spread on EUR/USD and a few other currencies
The reason was the free £20 bonuses....just wanted to get a taster to be honest. I've had some success but pretty much have the same amount that I put in.
I've opened a micro account with Alpari, and was trying GFT, but they seem far too keen to phone me every minute of the day.
Would you recommend Alpari?
Most brokers will ring you as soon as you open a demo account in order to try and get you to put your money in their firm. Honestly I'd say go with the platform you're most comfortable with, and if you plan on trading frequently i.e. more than once a day, ensure that the spreads and the carry costs aren't too high as these will eat into your profits. You'll find that most brokers will have higher spreads on their MT4 accounts than on their own platforms, e.g GFT is 0.6-0.8 on their own platform but are 1.6 on their MT4 accounts. Shop around and find which platform you're comfortable with and ensure that you're getting good value spreads as well