I have recently finished babypips school and am now in the process of trying out a few strategies. My friend who introduced me to forex suggested I use FxPro. This is what I have been using while completing the online course. The problem with FxPro however is they do not offer microlots, which as a newbie will be important, and they also dont offer binary options.
Would someone be so kind as to suggest reliable broker they have tried and trust for me to open a demo and feel out. Another friend suggested eToro, but I have no idea if that one is any better?
Hi there fellow trader,
I personally haven’t try FXPro, but I think you should transfer this discussion to the Brokers and Tools section, you can find there all the details you need about most of the brokers you might be interested in. Speaking from my poor experience with Forex, if you are planning to start with a tiny account maybe you should be on the look for a smaller broker, I’ve found that sometimes they offer trading conditions that are quite nice, although that’s not ALWAYS the case! Good luck anyways, and remember to do a proper research
I trade with oanda. You can open up an account with as little as 50$ and start trading.
I’m not sure if there’s any other broker that offers nano lots as oanda.
Personally so far I haven’t run into any major problem as regards to my broker. And it seems to have a pretty good reputation. You can do more research and decide for yourself.
It is very important to use good brokers. The choice of the brokers must be made after checking the reviews of all the brokers. You can check good and genuine reviews about brokers on FPA, or tradecomplaint.com and then you can proceed to get away with the broker. I prefer micro account.
i trade in liteforex. everything is ok. i like their demo contest, they have high bonus. we can choose some account type for trade if it fit with your stategy we could’t change broker
If you’re looking a broker for trading micro lots, hotforex, exness, forex4you, ironfx are good choices. About binary option, I think you should trade BO in a separate broker (a true binary options broker) as 24Option, TopOption or OptionTrade. Or you can join this webinar to learn how to trade BO wisely: OptionTrade | The Reliable option
Choosing a broker should not be taken lightly. Many factors should go into this decision including, trading style, the amount you intend to deposit, the customer service of the broker, etc. I would suggest opening a demo account at several brokers and firing off questions to their emails and live chats to see how they respond. Often times you will be able to gauge the brokers honesty and overall knowledge of the Forex industry. This would be a good first place to start in my humble opinion.
I think an unbiased rating is not possible, but I’ve always considered www.100forexbrokers.com as neutral, as far as the information is concerned - their reviews are probably not that neutral.
There are loads. Just try a Google. I personally use this site as the reviews are bit more indepth -Binary Options Brokers Comparison | Binary Options Investor They also have some good articles. It’s a cut above the usual trash sites. Also there are some good basic strategies to get you started.
I think they are quite good to be fair. It is also important to realize that even the best companies in their field will have their detractors. Therefore you can only ever make an educated ‘best guess’ when it comes to a broker and find the rest out for yourself.
For what it’s worth I have done well with 24Option and Banc de Binary… but I am sure there are others who will not like them. I have to speak as I find however. They have both been in business for a long time which says something.
Yup I agree that micro lots are very important. As a starter, even I felt comfortable trading micro lots only. I trade with Finpro. I started with a demo account but shifted to live a year ago. Experience has been good. Spreads are tight and trade execution is fats. Zulu Trade and Algo Trading have been really helpful in making decent and consistent profits. eToro is ok but I haven’t personally tried it out. I suggest you should go for Finpro but do make research before that to see if it would suit you.
If you’re a newbie, I’d recommend Etoro. Just because they have a copy trader platform so you could do two things at the same time. Earn by copying a trade, then learning how things work in Forex.
