As I am new to FX, I was wondering if anyone can advise the best broker / platform to use?
There are many different ones out there, I started with ACM. However they did not follow through what they promised me. Plus they really wanted me to sign over cash there and then. Which I was not willing to do, as I was new and wanted to learn what I was doing first.
Having had a quick glance at some others, I was wondering what everyone here experience was?
I am not sure who is the best, but i know who is one of the worst - FXCM.
I’ve had so many problems with them. I canceled my account and they have not sent me the check yet. I have been waiting for 6 weeks, i contacted NFA and now they are trying to resolve the issue. I am currently trying Oanda.
From experience i will never recommend FXCM. they are such a joke.
i would suggest trading with oanda as they are by far the best broker i have traded with and i know many who share the same opinion, however i would recomend downloading mt4 for your charting as oanda’s software isnt too sophisticated although their execution and spreads are second to none
I agree with Lee, I just started up with Oanda, no experience with others but Oanda is ok so far, I do use metatrader demo account from IBFX, it does not expire so it’s a good one to use for that purpose.
OK, this may be a dumb question, but if you are using MT4 as a standalone prog for your analysis, where does MT4 get it’s quotes? Won’t the spreads be different from those quoted by your broker of record?
you are right the spreads are a little different. Oanda’s are tighter than IBFX but it’s not a big difference.
my IBFX demo of course gets its data feed from IBFX but it’s close enough for a newbie like me
Yeah, the two broker price feeds are so similar and the spread difference is so small that it doesn’t make any difference, especially for me as I trade the higher time frames.
I’ve had so many problems with them. I canceled my account and they have not sent me the check yet. I have been waiting for 6 weeks, i contacted NFA and now they are trying to resolve the issue. I am currently trying Oanda.
From experience i will never recommend FXCM. they are such a joke.
i would suggest trading with oanda as they are by far the best broker i have traded with and i know many who share the same opinion, however i would recommend downloading mt4 for your charting as oanda’s software isn’t too sophisticated although their execution and spreads are second to non