Finding a Forex broker

[NaguibSawiris]

before choosing a broker you have to move on FPA where all traders express their views about their own broker performance.

[Peter_Siddle]

choose the broker which supports your trading approach , if you love doing scalping should choose the broker which allows trading concept such as this.

[AhsanMalik]

yes , FPA is good than others we have in online.

[flamingoproxy]

@NaguibSawiris

before choosing a broker you have to move on FPA where all traders express their views about their own broker performance

@AhsanMalik

yes , FPA is good than others we have in online.

this is awful advice

Forex Peace Army is truly a dreadful place to be looking at reviews - it’s so unreliable that even a general review site covered in affiliate links is probably better (though not ideal!)

@Oli_jackson

I’m hoping to find a broker that meets a few specific criteria, such as:

• having a reliable trading platform
• 24/7 customer support
• fixed and low spreads.

where, how and by whom they’re regulated is far more important than anything mentioned above

if you consider MT4 a reliable platform, then they all do

24/5 or 24/7 customer support is almost universal, and 24/5 is barely worse than 24/7 - this shouldn’t matter

[Jake_robins]

@NaguibSawiris

FPA

I always thought that FPA was pretty reliable, why you say so?

[flamingoproxy]

@Jake_robins

why you say so?

Explained here:-

Forexpeacearmy Scam or not? What you think!

In short can forexpeacearmy be trusted? Can anyone please tell me how legit this web site is? I am a bit suspicious about them. I see negative reviews for most of good brokers on their site and they ask users to stay away from them. After a little search on Google some claim that this site asks broker to bribe them or else they write bad reviews about them. I am confused that who is telling the truth. What is your opinion about forexpeacearmy? Do you think their reviews are legit and unbiased?

[Jake_robins]

thanks dude you’re a great help

[Oli_jackson]

Regulation! thanks for mentioning that.
you seems to know a lot about all of these. What do you mean by where they are regulated? sorry if I ask silly questions. I’m totally new at this and still learning.
Second question, MT4 is not reliable? I kinda sense that what you are trying to say is that there are other platforms that are better than MT4.

[Oli_jackson]

Well, I’ve heard about FPA and I was going to check it but then I faced with tons of posts saying they are not legit and reliable. I’m totally confused and don’t who’s right.

[Ethan.ishere]

When a broker is regulated, it means that they are subject to oversight by a governmental or other authorized regulatory body. This regulatory body ensures that the broker operates in compliance with the relevant laws, regulations, and industry standards.

Regulation of brokers is common in the financial industry, and brokers are typically subject to oversight by regulatory authorities such as the Securities and Exchange Commission (SEC) in the United States, the Financial Conduct Authority (FCA) in the United Kingdom, or the Australian Securities and Investments Commission (ASIC) in Australia. The purpose of regulation is to protect investors from fraudulent, unethical, or otherwise harmful practices.

Regulated brokers are required to follow strict guidelines related to the management of client funds, advertising practices, and reporting. They must also meet capital adequacy requirements to ensure that they have sufficient funds to cover potential losses. By operating in compliance with regulatory requirements, regulated brokers provide their clients with greater transparency and accountability, which helps to build trust and confidence in the financial markets.

[Luke_Ronchi]

this site is trusted compare to others in online. personally i like this review forum

[ria_rose]

@flamingoproxy

where, how and by whom they’re regulated is far more important than anything mentioned above

Although it’s also important for me that the broker’s platform is user-friendly, going with regulated brokers is the safest choice.

[ria_rose]

Hmm. One of the reasons I know of is that they often accept payments for their reviews. So you probably won’t get authentic experiences there. If anything, I think broker reviews here are more reliable.

[Oli_jackson]

Thanks for the explanation mate!

[Oli_jackson]

Well, in that case no wonder I faced with tons of negative comments about FPA. But maybe babypips do the same thing? I guess we never know.

[chen2020]

To me it was important to find a broker with fixed spread and low fee also instant payment methods.

[Oli_jackson]

And did you finally find that broker? Is yes can you mention their name please.

[silviu]

I don’t think anyone on this forum will answer you. I asked traders who trade on a real account to share their experience with their own brokers and if they can nominate a broker. If you want, you can view the answers given by those who were willing to answer with all when I came back with the explicit questions, they continued to answer something else, it’s hard for me to believe that you can’t answer a few simple questions
I wish you success and I will continue to see what is answered

[The_enigma]

For me, trading with a low commission and spread can be beneficial as it can reduce trading costs. But, I suggest you consider the overall quality of the broker or trading platform you’re using since a low spread offered by a low-quality broker may have other drawbacks.

I think IC Markets, PrimeCodex, and CMC Markets have an account option that can fulfill the criteria you mentioned. You can try using a demo account to see if it fits your criteria.

[Oli_jackson]

Yeah, I know how that feel. I don’t get it either. Maybe BP doesn’t allow it. Does it?