This is my experience in Forex starter. I am using HotForex, FBS and Gftrade. FBS was introduced by the acquaintance, HotForex has been using because it was popular. in case of GFtrade has been used because of the cashback 4$ promotion and the one-on-one personal manager system.
There are many brokers keep emerging in the Forex market today. It seems that forex Warring States period. So there are various benefits for each broker. Usually there are a lot of zero spreads, or a deposit bonus, or a no deposit bonus. But I did not mean much to beginners like me. Most of these bonuses are difficult to withdraw or require extra capital. So, in some ways, I was comfortable with the proper spread and easy to contact, as a result this kind of factors makes me satisfied when trading.
There are various FBS accounts, and there are various account types that beginners can choose from. When I asked about the inconveniences of chatting on the homepage, I could not receive proper answer quickly because of limited answers.
HotForex, deposit bonus is 100%.it is a publicly known broker also it was operating without problem.
GFtrade is advantageous for $ 4 per lot, and offering 1 to 1 manager system
In fact, even if the number of 1 lot is 500 to 1 leverage, it is meaningless that it cashback 4 dollars, because you have to trading more than 200 dollars. However, there is no reason to not to using because there is no trading fee anyway, and the actual spread is down as a result of the 4$ cashback. You do not have to invest in one place, but you can think of it as a new one, using multiple brokers. As a result of trading for 2 months now, I am a beginner trader and it is 10 ~ 20 lots per month. However, I think it is a bonus that a small amount of $ 40 to $ 80 comes in. Likewise, my HotForex trading is similar, but for Hotforex, the spread is low, but there is a commission, so a commission of $ 80 for 10 trades goes out. In a way, I think GFtrade’s money withdrawal stability, or without a scam, it’s time to move the broker.
Even a novice trader like me will have a transaction cost difference of $ 80 per month, but if you trade more lots, there will be more transaction cost differences. I can’t recommend this broker right away. It is differing for every person to think that he is important. Several things are important about the stability of the broker or the withdrawal. Of course, if you are swing trader spreads and cashback may be meaningless. But if you do scalping or daily trading like I do, it’s not a bad offer.
Anyway thank you for reading my GFtrade review.
Thanks for your input. I also hold account with Hotforex and use their rebate system, looks like a good deal comparing to others. Btw why do you still search for other brokers? Why not to concentrate in improving your trading skills?
Trading with even 3 brokers are quite good when you could compare and learn many different things between brokers.
Thank you for your commnet. but i just focus on beginner and my preference.
yes. of course.
Even some broker’s have really low spread. but that case offer not major currency.
i have to choose wisely.
Yeah, its natural for a beginner to jump between brokers but you can’t make proper judgment since you don’t understand fully their pros and cons. that’s why practice is important before making you final choice on trading platform and broker.