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.
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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.
I split my money among a few brokers. Chances of them all running off at the same time is slim.
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I think splitting your funds with brokers is always a good idea as it spreads the risk than just relying on one. But how do you decide which ones to split funds with?
Broker that offer the leverage I want. Quick withdrawals so I can get my funds out asap if needed. Offer the assets I want to trade (forex and crypto for me). Good spreads, commission and execution etc. Just trawl through review sites and test them out.
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Yeah, that makes sense.
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Out of these, I have LMFX and EagleFX. But frankly none of these worked that great for me. I was expecting something else but got something else. So, I decided to go for other brokers that work better with my trading requirements. But that doesn’t mean that they won’t work well for you also. Check these on the basis of your own requirements.
As I can see they are offshore brokers, though its your personal choice,but I’d still say that its kinda much safer to be with regulated ones over offshore.
If you explore well, you will find legit brokers with solid trading conditions too. For instance, if you check out offerings of brokers like Fxview, Xm or Pepper they are pretty good plus all of them are regulated, so this way you don’t risk your capital much.
Yes, I have used all of them and I had a nice trading experience with each one of them. At the same time, I believe that just because they worked for me, it doesn’t mean that they will work for you also. You will have to do your learning and practising on your own so that you can find out whether they are good or not.
Frankly, I don’t have anything to say against them. But I think you should test them at your own level before you come to a conclusion.