I think it is alright to trade with broker that is cheap (this is basically about commission and minimum deposit) as long as they are regulated and well functioned.
Using a cheap simple broker could be a bad idea since many scammers lure in traders using bonuses and proving very low-cost trading.
I suggest trading with regulated brokers like FP Markets or GlobalPrime to get proper live trades exposure.
Well, if a broker is low on cost that doesnāt really imply heās likely to be a scammer. If heās regulated or even if its offshore, pricing is just a part of their business model. We should just try to dig deeper
Effectively FBS have a good trading conditions, but the thing make me use this broker was its trading platform named FBSTrader. Itās really easy to learn if you want to start trading from your pocket device. I like Metatrader too, but comparising their learning curves, with the first one youāll have a quickly way to learn how to trade, because less time is demanded to master this application. In my opinion, itās highly recommended for those who are just starting out or for those who master trading but want the same power and more comfort.
Best looking for a ECN broker. Have a look at some review sites
Rather than trying to find a cheap broker you should focus on finding a trusted broker. It is more crucial for success in the forex market.
It gets really frustrating when you lose your profits to the brokerās costs. Many brokers charge high commissions for a micro account while your profits on these accounts are almost negligible.
Just dig a little deeper. I am getting low commission with fxview ($2/RT) and tickmill ($4/RT). Can also go for HYCM ($4/RT), altho I havenāt tried them out.