Hey Gove1971,
Do you know where IC Markets secures Dposits?
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I am yet to open an account, still learning, but a fellow trader friend of mine recently opened accounts with XTB and Fxview. Heard only good things so far - in terms of market access and transaction costs.
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You can try Eagle FX, Crypto rocket, Trader’s way…
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Yes that is true, you’ll need to be careful before choosing offshore brokers.
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Use a broker that gives low spreads and offers high leverage. IG, XTB, Fxview, Oanda are some reliable names.
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Using a legit offshore broker always give you lots of trading advantages, while regulated brokers almost make it impossible to make money. Here is the thread that lists the trusted brokers by the community, these are unregulated AND accept US residents
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Recommend trading with FP Markets. It is an ASIC regulated broker with over 15 years in forex business.
So they are reliable. The commission and spreads are low as well, when compared to other ECN brokers.
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Anyone looking for a broker with lower spreads and better execution speed, I recommend FP Markets because when I compared it with brokers like ICM and pepperstone the spreads were lower and executions are faster.
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There are no special brokers for Nigerian traders so you can try some well-known names like Hotforex, Tickmill, IB.
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I would suggest trading FP Markets because it is one of the oldest broker active since 2005 and ASIC regulates it.
The minimum opening balance is just $100, the spreads and commission cost are lower compared to other competitive brokers.
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What do you mean not consistent? Spreads can widen or narrow and it depends on volatility and market making activities. Better approach is to measure and compare average spreads and according two my experience Hotforex passes by this criteria.
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What are the commission charges with your broker?
I’m currently trading with Hotforex but looking to move my account to another broker because the spreads are not consistent.
Anyone trading with a reliable broker with tight spreads?
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I recommend trading with FP Markets; the spreads are lower starting from as low as 0.0pips in EURUSD.
There are no issues like spreads widening even during high volatile market movements.
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We have to look at average spreads and conduct proper comparisons with other brokers. Or you are doomed to be in permanent search for an ‘ideal’ broker.
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I currently trade with an ASIC regulated broker FP Markets that has been active for more than 15 years. So it is a reliable broker to begin live trading.
Spreads are lower compared to other ecn brokers, and the spreads are consistent even during high volatile market movements.
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There are many brokers but the best one is still licensed with FCA UK, followed by ASIC. But in the future ASIC will also reduce trading leverage. Such brokers can also be found on en.itigtrader.com which is a secure way of a license.
It’s not advised for newbies to experiment with brokers, better to make a safe choice and trade with FCA regulated entity. Later when you understand your priorities you can start to make research on trading platform you need.
I recommend FP Markets (Ecn), they have a robust trading condition and the spreads are really tight that averages at 0pips for the majors.
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I prefer trading with an equity broker FP Markets as they have minimum spreads for trading starting from 0.0pips in EUR/USD which is relatively low when compared to the average EUR/USD spread of 0.70 pips.