Beginner here...need help in choosing a broker (scalping and day trading)

#1

Hi All,

I am a complete beginner and still in the process of absorbing the ocean of knowledge in this field.

I have demo accounts in Etoro and Avatrade. The spreads in Etoro is very high and therefore not beneficial for scalping and day trading. On the other hand, Ava Trade has tight spreads and the platform seems user friendly. But the trust score is lower and there are many negative reviews about it.

Another option that i came across is IG that has low spreads and has good overall ratings.

Which of these 2 should i choose? IG or Avatrade? Also if there is any other option worth looking at.

Appreciate your help guys.

Thanks.
MoE

#2

Hi, if you are new in forex, try create strategy on higher time frames like H1. Trading by scalping is very difficult by noise that is why not many people can do this with successfull. Regards Greg PS please delete your other post which is the same topic :slight_smile: good luck :slight_smile:

1 Like
#3

Thanks @ProfesorPips. But for broker, which one do you recommend? Avatrade or IG? or any other broker that has low spreads.

#4

Hello moekhatib89. You can check out the spread offered by Forexchief.com and see if it meets your requirement. They also offer a nice trading platform.

#5

Anyone have more recommendations???

#6

Turnkey forex is good for day trading, spreads and commissions both are low.

#7

I don’t think scalping or day trading is a recommended strategy for beginners. You must start with swing trading or position trading.

#8

For scalping, choose a broker that has tight spreads and low commissions as you would be executing numerous trades on a daily basis. And high trading costs would mean lower profits overall.

#9

Both are good brokers in my knowledge. Spread vary on account types. Which account did you try?

#10

I think both are regulated, broker. If those negative reviews are not major, I think you can give it a shot.

#11

Please stop perpetuating garbage. How can you be telling people they MUST start with swing trading or position? That is like telling an aspiring athlete he shouldnt run long distances he must instead concentrate on sprinting. Different strokes for different folks.

#12

I also started out with Etoro. They have a great platform which is very beginner friendly, but I was put off by the fees and found it to be a bit restrictive. Limiting how far you can put your TP and SL, plus back at the time they used to charge a hefty withdrawal fee too. My 2 go to brokers these days are IC Markets and CedarFX. I have found both to be far more competitive and cover all the same assets between them. I run them both and MT4 which I much prefer to the Etoro platform.