with that I’m vulnerable to all the mis-selling and junk from new brokers so to put it simply I’m looking for the best broker that suits my needs as a new person to trading.
Yes I’m practising and yes ill probably be doing it for months on end before i decide to even think about laying down hard earned cash - sorry to be blunt, I can see these questions coming already =)
I live in the UK so a UK based Broker may be better for me? Earning in Pound sterling might be easier on the eye.
1 broker I liked ‘Intertrader’ fits all the needs but wont allow me to use MT4 unless I deposit £5k… shame they have tight spreads and they are fixed. Tis a big shame, they say I can only use there web based platform as a beginner. That to me is a step backwards. All my Webinars focus on MT4.
So ideally a great Broker with tight/fixed spreads that have a good reputation. Seems simple, not for me, I’m a n00b =)
thanks
(to reiterate I don’t plan to deposit until I’m sure i have a plan to profiteer on my capital not hinder it)
Hello to the Original Poster; yes, Dreighen’s link is very good, so take a look and make your choice… In the end, if you go prepared with a few questions and call the broker, you should be able to get the answers you need - better that, than just click and sign an online contract without fully understanding things like deposit/withdrawal terms, slippage, financial protection against loss (in case of bankruptcy), etc.
Call two or three brokers and ask the difficult questions: just because you may have a small pot of money, they should not value your time any less - if they do, then it will be time to move on (because it will give you a flavour of their customer support ethic)…
You need to decide which one is best for you and perform your own due diligence. I trade with Paxforex and am very pleased with them. I think PipMeHappy made a great point, make sure they treat you well regardless of your deposit size.
At the end of the day, what we all need is peace of mind, that is, the ability to leave trades open for as long as we want without fear of some sort of obscure dealings or nasty surprises (I do not mean being stopped out)! That, and the fact that closing price is honoured on the majority of your trades - there will always be exceptions, e.g. at times of high volatility (such as NFPs release)… I do not think, however, that having an account with a broker gives us the right to be belligerent at every small disappointment, because the best brokers out there will do their best to honour our trades and not screw us around: a little patience goes a long way when dealing with brokers…My attitude is that I EXPECT the odd time when I may not get the price that I was quoted, e.g. due to high volatility and/or low liquidity, when closing a trade (= slippage)… But, on the whole, if, say, 95% of my trades are honoured at the price quoted on my trading software, then I consider myself happy with that broker…
Thank you so much for trying to voice out your opinions here. We appreciate it!
Unfortunately, this thread has been inactive for years now, and we would love it if you continue engaging other members on more active threads about brokers instead.
Broker is no longer an intermediary today. it is offering both the medium and advisory services for the traders. For this reason, after working with many brokers i have chosen ForexChief since this regulated broker is offering security of funds, 24 hour customer support, expert advice with flexible trading facilities like lowest zero spread, high leverage of 1:400, re-quote and slippage free timely trade executions, so on.
My suggestion would be Tickmill. They are based in the UK and are fca regulated. I’ve traded with them
In the past and i had no problems.
Hope this helps.
