Finding the best broker

I do agree, best broker is actually a myth, but one can consider the broker that has been used by majority and has good repo, at least I do this. I have tested coinexx from your list, they are one of the popular brokers on CFTC thread and so far my experience has been also good with these guys.

Yes it was helpful.

Coinnexx good then?

If you do want to use such advantages of forex broker you listed you should really forget about regulating things out there with that forever reasons for that matter no matter what. How else we really could go on there ? I do not really understand all that. Thanks!

Always talk to your broker as a good broker is one that has great communication skills and yes he must have accurate credentials to make your time in the market a profitable one good customer service is a key and on time and wise execution is a must. Understanding clients need and limits is absolutely needful A good broker must be regulated when you are trading with an unregulated or loosely regulated company, you will never be sure about the security of his funds

I check broker first by using demo account. Then I open mini account and see how trading is executed and how much spreads are actually charged. If everything is ok then I place larger amount of capital

That’s a great way to test a broker. I did the same with Turnkey forex and these guys stood the test of time. They offer tight spreads and I never really had slippage issues too.

The one i know and trust is in Nigeria (ACMBrokers)

Brokers are many. Except for licensing issues, should we also consider the broker that we want to choose is right for us? for example: slippage, scalping, swap fees, deposit and withdrawal fees … as I also mentioned a few brokers here In search of the Best Broker to start Forex trade

It is hard to say that one is best or worst, but it is good to know who are the scammers, so the people can run away from them before they lose their money.

FXDD is a good broker in Europe. Here are the regulations:
Investor Compensation Scheme
The Investor Compensation Scheme administed by the Malta Financial Services Authority (MFSA), the Maltese regulator, provides limited protection for certain classes of investors. FXDD Malta Ltd. Contributes to this scheme annually and in the event it becomes insolvent, its customer are afforded protection. FXDD Malta’s customers will be eligible for compensation of 90% of their investment up to a maximum limit of €20,000. Professional Clients or Eligibale counter parties are not eligible for compensation as they fall out of the scope of the Investor Compensation Scheme which was set up as a protection for retail customers.

Negative Balance Protection
FXDD Malta Ltd, provides clients with the benefit of Negative Balance Protection at its own cost which means that any client trading losses cannot exceed the available funds in the client accounts and client account balances will never become negative.

FXDD Global – Regulation
FXDD Malta Ltd. holds a Category 3 investment services License no. IS/48817 issued by the Malta Financial Services Authority (The MFSA). Furthermore, FXDD Malta Ltd. is authorised to operate and provide cross border investment services in all the countries within the EEA, including but not limited to the following:

Yeah, but it’s not easy to expose scammers or prove that they are guilty because they perfectly disguise their crimes. You have to be experienced trader to understand that you were scammed and not outperformed by the market.

1 Like

How can one be categorized as a best broker, is it based on its reviews its time span on how long the company was active or is it based on it followers, how can you say who is the best broker ?

This is true!

Do you mean you tried them on live accounts coz lmfx on FPA is regulated but on Google page is not, so I’m confused by this.

I would recommend instead of finding best broker around you, work hard by yourself learn from your mistake, gain experience, improve your skills and upgrade yourself and become a good trader.

I entered into to trading used several brokers and has some profits and loss. From all the brokers i have used i prefer FP Markets and i still use them.

Are they regulated? and by whom? Meanwhile Fx Brokerage isn’t even regulated in Nigeria so u wanna be careful of these “bucket shops” n do due diligence?