I’m currently demo trading on fxTrade and MetaTrader5 (was previously using MetaTrader4 but got locked out of my acc for some reason). Got a tip from a coworker to use vantagefx but he is using signallers and I want to stay away from that. I just want an unbiased opinion on brokers… I’m based in Canada if that makes a difference.
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reputable brokers is the first choice of traders but above all the beginners always cant survive in there due to fast trading spreads and higher deposit.
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Other than going through your bank, I am in Canada and use OANDA and Questrade. OANDA only does forex but has a great reputation, Questrade does both forex and stocks and is also a top rated broker in Canada. I personally have not had any negative experience with either one.
Thanks. I looked through my email and realized and I already have a demo acc with OANDA since I’ve demo traded on mt4 and fxTrade. Which platform do you trade on? I have been using fxTrade recently I think I am more comfortable with that platform atm but there are still things I do not understand when I’m starting a new order.
hadden, so many reputed brokers those have micro account for newcomers level.
I use Metatrader4. I find it’s visually appealing and user friendly. You can download it through OAND’s home page. I started out using OANDA’s desktop platform but stopped due to constant glitches as it kept freezing up. Maybe they’ve fixed it recently but I haven’t gone back to see. I think globally, Metatrader4 & 5 are most popular (I’m a creature of habit so I’ve never tried 5).
its a common problem , no way to deny but agree with peter , so many brokers provide micro account for beginners.
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generally regulated brokers once a time was considered as a reputed broker , right now its all about same
Actually, most of the brokers offer MT-based platforms, except some special ones. As for me, the best platforms are TWS (IB) and TOS (TD Ameritrade). I use first one since the second is great for working with charts, but it is available for US customers only. But for the beginners MT-based platforms would be better since they are much more user-friendly and easy to use.
By the way, it is important to distingusigh “platforms” as “trading software” and “platforms” as “companies” - in fact, these defenitions are quite often mixed.
There are numerous comparisons of various trading platforms (in general meaning) like this one, so you can look them through and focus on aspects that are important for you (like special conditions, fees, etc.).
Keep in mind, that it is extremely important to check the broker`s licence: it should be issued by a reputable financial regulating authority like British FCA or European ESMA.