Hi there am very new to this game so am only using demo accounts to start with. Can i pick people’s brains as to which they think is the best broker to use? I am currently using a demo account with CMC but see a lot of people using other accounts just wondering what the most favourable are. I am also on a mac so not sure if all platforms are supported.
Cheers guys
Different brokers offer different options. So it depends on what trading method and money management you’re using. Go to this link, go to search brokers and fill in the blanks as they are applicable to you and your trading plan. Forex Brokers Comparison
Next narrow the list of brokers you are looking at by clicking compare brokers and enter the brokers that you picked from broker search to see what broker suits you the best.
Once you have the broker who most fits what you’re looking for in a broker, come back to baby pips go to brokers and sign up for a demo account. While you’re checking out the demo account, do a google search " X company reviews" and see what that gives you. It’s not the best way to see reviews, but it’s pretty much our only options. While you’re doing that get in touch with their support by asking some simple questions to see how fast they get back to you as well as the answer they give you. Example I just finished a broker I was considering, they fit what I was looking for but when I asked support a simple question about swap fees it took them 3 days to get back to me and the answer they provided was not what they had on their site.
Now comes decision time. List the facts from the information you have, look at the options you have from the info you gathered, and pick the least of the evils. Hope that helps
Gp
Hello threadows!
Good advice has been given by gp00053 and the other thread posters,
but I would like to add that this question has been asked quite frequently on
these forums, so if you could do a ‘broker advice’ search you will probably
see that the topic has been covered extensively…
In the end, no broker is perfect, and while the practice of ‘bucket shop’ brokerage
has been relegated to a distant past, it still lurks around… Stick to the main brokers
(FXCM, Oanda, etc.) and try their Demo platform… Get in touch with their helpdesk
and see how helpful they are: if you are happy with their service then go with them…
Spreads are quite similar across the major Forex brokers, so unless you are trading
large volumes (e.g. holding an account of 25,000 currency units with FXCM or trading
volumes of 1M (e.g. one million Dollars or Pounds)), then your spreads will not vary
too much across the major brokers.
Cheers.
As others have said, there is no one right broker. You should not listen to what others have to say about this. One person will like one broker while others will dislike the same broker. Do your research and find the right broker for you regardless of what others may have to say about your choice. In the end it is all about what works for you and not to get a nod of approval from others. Know what you are looking for and find a broker which matches your needs and desires.
AS others have suggested please do your own research to find a broker. It is really hard to suggest one. Earlier what I did was choose 03 different brokers, tried their demo accounts & platforms, traded live with small accounts and decided to go with 02 brokers.
Thanks for your replies guys. Like I said have only been messing around on a demo account on cmc markets for the past year but have decided to give this a proper go. Thanks for your advice.
I believe that you are going to find the best broker for you. I just want to pointed out that you should start using real account in order to get real trading experience. What you are going to learn on demo trading is not going to work on real.
to find the best broker then we can use a demo account to learn and practice trading. with a demo account we can know the performance of brokers and we also get to know the server of the broker
if its demo i guess you can have more than one and even place the same trade on both to compare, demo differs a bit from live but it can be used for comparison as well!! best of luck