Newbie Broker advice?!

Good Morning all,
There may well already be a post with this question attached, but I couldn’t see it within the first few pages so here goes…
I have an IG account which is about 8 years old… I want to open a new account (nothing crazy-about £10k) but I have been doing a fair bit of research and trying out lots of demo accounts… the problem being is that when I find a demo platform that I like and can get on with, I read lots of bad press about unfulfilled orders, severe slippage and massively widening spreads on the live version…

Can a few of you guys let me know who you are using?
obviously the occaisional bit of slippage, or a particularly busy customer services line happens from time to time… we all know that. But I would like to know how you guys are getting on with your current broker…

I was actually starting to feel a little jaded by the whole thing yesterday… but today is a new day…
thanks

VK

I’ve had good results with Oanda, but results may vary. I trade longer term, so issues like a little slippage or small differences in spread tend to wash out. You could always open a smaller account, say 10% of your target, and trade only 10% as much as you would normally, to test them out for a while. That’s what I did. No charge for that and much less risk. Best success. -G

Quick Edit: Which ever broker you choose, be sure to check into their history of customer complaints and fines by regulatory agencies in the past. Brokers with very few fines are worth considering. Those with many fines are best to avoid.

I’m using “Interactive Brokers”. I like and trust them.

£10k is enough to be opening an account with a genuine broker, rather than with a counterparty market-maker. And that’s certainly very worthwhile.

It might not even be an exaggeration to say that the worst (properly regulated and honest) genuine broker is a better proposition than the best counterparty market-maker.

It’s the counterparty market-makers about whom you’re going to hear, in this forum, though, in response to your question; I suspect that at least 95% if not 99%, of members here are using them. (I’m trying my best to make this observation in way that [I]doesn’t[/I] come across as in any way “judgmental”, but it isn’t easy! :8: The reality is that you need deposit-money around the size of yours to make it worthwhile and practicable to use a genuine broker, but it’s very much worthwhile, if you can do it.)

(Edited to add: by the way, strictly speaking “slippage”, [I]per se[/I], doesn’t arise with counterparty market-makers, as they hold the other side of your trade and are not executing it [I]directly/individually[/I] - and maybe not at all - in an underlying market. So what you’re referring to is “variable spreads”, really, rather than “slippage”.)

I am trading with more than one broker at the moment but i can recommend lmfx as i started trading few months ago with them and since i haven’t had any issues to complain about them.

You can try any broker that don’t have any scam feedback. Google broker_name before deposit is a smart way.

Well the competition is so high between the brokers, so I don’t believe that it is possible to find any broker without negative feedback, unless it is one that has been founded yesterday and nobody had the time to belittle it yet. But like lexys said better search for a non market maker if you are looking for a real market experience.

Perhaps you should look for a regulated STP brokers, definitely not a market maker. Check if they offer mini accounts so you can test their live environment without actually lose a significant amount of money. That way you can choose for yourself which broker would be best.