Can One Trust These Brokers

I have been busy glancing through this informative forum. Well, I am new here but have been on demo for over 3 months now.

As a newbie, I would like to know from you guys whether these brokers I was introduced into are reliable:

instaforex and

I have been using alpari and lite for my Demo.
Please has anyone traded their live account? Are they ok?

I will appreciate for your candid advice.

As far as I know, Alpari is ok.

Instaforex are known crooks, stay away.

Liteforex I know nothing about.


Oliver 1968,
thanks a lot for the info. I would have fallen for instaforex.

Any other good broker I can add to alpari?

I need to try something live! My demo is ok with little losses at times.
I think I shouldn’t put my eggs in one basket. I need one or two reliable brokers more.

You may try FXCM.UK, Dukascopy S.A. Hope this help for you

I’m a big fan of ETX Capital in the UK, although I don’t know where you are. I have used them for a couple of years with no issues whatsoever.


While Dukascopy is a good broker (probably the best ECN broker out there), I wouldn’t recommend them to a beginner. Once one is in the position to fund her/his trading account with 50,000 or 100,000 dollars, they surely are superior, but until then I’d advise a broker who isn’t specialized on large accounts.


Just as oliver said, I heard good stuff about about alpari though I do not trade with them.
instaforex, I’ve some negative feedback, but don’t take my word for it since i don’t trade with them either.
liteforex is new to my ears, I trade with hotforex, and they’re decent.

try to check some online reviews and do be careful with the broker that you choose.
some say your first broker might as well be your last :slight_smile: and best of luck.

I have been using cmcmarkets, IGmarkets, and GFT. All on live accounts.

Right now my favorite is GFT purely because I can trade off micro-lots and that they also have Metatrader4 as a trading platform.

I had an alpari-uk demo account for years and still do.

So far most of the people that I know are using one of the following brokers quite happily.

IBFX, (raghee horner)
FXDD (greg michalowski)
GFT (boris schlossberg, kathy lien)

These are the current bigger names in the FX broker markets.
Not only that they are also supported by great currency analysts (real ones) that put out a ton of free trade and market analysis everyday.

Here’s the listing of the same brokerages and their related currency analysts:

IBFX, (raghee horner)
FXDD (greg michalowski)
GFT (boris schlossberg, kathy lien, brad gareis)

You can find information about these people on twitter and their books in amazon.

You should be fine with any of the ones above. Try not to get sucked into the brokerages that give you a lot of leverage!

Happy Trading!

1 Like

Yes Alapri UK is ok, FXsol UK too is fine.

Yes, I think Alpari UK is the best among those brokers. You can compare Alpari UK with other brokers here Forex Broker Comparison: Compare Currency Trading Brokers Information
I use OANDA and I can say I am fine, good luck guy :22: