Hello,
Does anyone have any experience with any of the following brokers and which would you recommend.
LMFX, LQDFX, EAGLEFX
Thanks
1 Like
No worries, I found my answers in another thread.
It seems that brokers you have mentioned are not so popular, so it is quite difficult to find information about them. Among the list above, once I`ve seen information about the second broker, but first and third sound new. Maybe, they have other trade names or abbreviations?
Anyway, you can do your own independent research. First of all, pay attention to the regulatory issues since they are the most important. Check trading conditions too - sometimes strategies could underperform due to the high commissions.
You can also search for various comparisons and reviews of trading platforms describing several brokers and trading conditions they offer. At the same time, traders` feedbacks are also important, so it is a great idea to ask on forums.
Hi, i have not experienced any of the brokers listed but i can recommend ACMBrokers, i have been using it for more than 1 year now
Thank you JC! I have been doing as you recommended.
Got quite a bit of information so far.
I am now looking at TradersWay, LQDFX, LMFX, in that order of reputation.
Thank you Mojisola! I’ve never heard of them though.
I have only heard of EagleFX. They look decent
I used LMFX for a while good broker, but prefer to stick with Tickmill and Hotforex
1 Like
EagleFX gives appeal with its ‘same day withdrawals’, but only got started this year.
LQDFX and LMFX have been around since 2015. So in terms of time test I feel more comfortable with these two.
Thank you for this ontario! I’m checking out HotForex alongside Tradersway!
you are welcome.
1 Like
Yes please keep us updated about your experience with them!
yeah sure.
I use EagleFX as my offshore option alongside IC Markets. Not had an issue and yes withdrawals are usually only a couple hours.
Check out this thread
Going offshore to escape the CFTC - Broker Discussion / Forex Brokers - BabyPips.com Forex Trading Forum
I prefer to stick with regulated ones like fxview and tickmill.
I honestly think the regulation argument is a bit overrated personally. As long as I can withdraw and quickly then I always keep no more than I can afford to lose in a broker and that would be even if it was regulated.
No experience with either of them but I have heard good stuff on eaglefx, although I must warn you that they are not regulated. So just check with your state if it’s okay to use such brokers. Personally I always go with regulated ones only, oanda, fxview, etrade, ameritrade are some that I have used in the past. There are no chances of brokers playing with market prices if they are regulated. So rethink on that.
Considering you want to make 1000 USD/month, reasonable return goal like 5-10% monthly would imply you need to keep $10-20K USD in your trading account. Could you afford this amount of money to lose?
Check the Offshore Brokers thread.