Broker recommendations please!

Broker Discussion Forex Brokers
#1

I’m new but have been trading a practice account for a few weeks now and not satisfied. Their platform freezes and even closed out a trade for me while the trade was going in my favor yet i took a $14,200 loss on it (play money) when the price never decreased to hit a margin call. Anyhoo- I’m going to go live in a few weeks and need to start the process with a broker. Who do you like and why out of the following list? Your help is appreciated!

Oanda
RJ O’Brien
FXCM
GFT Forex
Gain Capital
I Trade FX
Interbank FX
PFG
FX Solutions

#2

i like the metatrader so i would choose fxinterbank

#3

I am also a fan of Metatrader platform. When it comes to charting and technical analysis, Metatrader is the best choice. ForexMetal is a reliable broker offering MT4.

#4

Hi,

Please do not rely on recommendation of people who opened an account with $500. Brokers don’t target them because they know that they have no chance of making any money, but you should consult with traders with sizable deposit and hear their horror stories.

Good luck

#5

You wanted to know so here you are:

GCI Financial (Trading) IF you’ve got AT VERY LEAST $2 000 (which is their minimum and I personally recommend $5 000).

Delta Stock (don’t waste your time with LESS than $500 i.e. although the broker’s minimum is $100 you have NO way of making any ‘real’ money and the end result is that you will overtrade your account to sort of ‘speed things up a bit’ and the end result WILL be an ‘account massacre’).

Both very reliable and honest brokers AND if you go through us (Online Forex Brokers and Traders South Africa - Fintrans Transport and Investments (Pty) Ltd) (we’re an IB for both brokers) you get LOADS of ‘stuff’ to help you make money ‘from the get go’ WITHOUT having to FIRST lose your shirt (as I did in the beginning).

I have done EXTENSIVE writeups on BOTH brokers here on this thread so search for them and you’ll find the info on them.

NEITHER are MT4 brokers BUT remember it’s NOT the software that’s going to make you money but the way you trade and what system you’re going use.

Personally I like MT4 VERY much i.e. great platform, very ‘polished’, very professional, etc. BUT it should NOT affect your choice of broker i.e. there is no point in having a ‘beautiful’ trading platform that disconnects ‘at random’ OR the broker behind it is trying to ‘screw’ with you.

#6

I am using Kerford Investments which uses MT4 platform and so far it is very good.

#7

I have been using the broker ac-market for a long time now and I can say that everything they advertise is true. The spreads are great and when you set a stop order you get it. There is no slippage. I would recommend this broker for sure.

I hope I helped you!:):slight_smile:

#8

hi, I use ac too.
Im very pleased with them as well. Very adaptable platforms& since their own the software, Ive never had any technical problems.

#9

if mt4 is not a must there is no broker to beat oanda period.

#11

I use Oanda and I like them enough, but I use the Cowabunga system and I keep getting introuble because they don’t offer four-hour charts…give me false signals on the main trend!! I’m thin king of switching to FXSolutions…I know their customer service isn’t great…Anybody have any more info. on them?

#12

Why don’t you do your charting on an MT4 demo account and then place your trades with Oanda. That’s what I do.

#13

That’s a good idea…I’ll be trying that with FXSolutions practice acct…but I think they only let you keep a practice for 30 days or so…who do you use?

#14

I am trying with Ava Fx it’s good . If MT4 is not required.

#15

I use InterbankFX… their demo accounts never expire.

#16

Thanks for the info. I’ll check 'em out!