Help me decide between these brokers

Hi community, I’m in the middle of BabyPips School and wan to start a Demo Account, I’ve been looking into different broker options so if I decide to go Live keep with the same broker

I want to develop/test Technical analysis with some scalping techniques.

I reduced my options to these brokers:

  • IG Markets
  • OANDA
  • FP MARKETS
  • XM Global
  • Forex.com

Can you tell me which one you think is better?, and if there is some other options I should consider.

which broker is more appropriate for you it depends on your trading conditions , if love doing scalping should choose the broker which allows trading concept such as this.

Hi CranOx,
I know where you are at. Analysis paralysis. I am in the same place for Crypto trading right now - LOL, and to make matters worse, I have just closed my Forex account that I opened Aug2019 without a single trade. But this is fourth time around for me, so I am being very patient.
What seems important now may not seem that important in the future, but have you compared these 5 against each other across a number of criteria that are important to you? You may not know where to start but a few spring to mind.

Customer satisfaction - independent rating?
Fixed or variable fees? Value of fees - expressed in PIPs or in % of trade value?
Slippage? Does broker act as counterparty to your trades, and therefore have slippage in PIPs, or do they trade through to a larger broker or direct to market?
How long have they been in existence, and what is the total volume of Forex throughput (though this number can easily be “created” just to appear bigger than they are.
I know IG Index is probably the oldest, and Oanda is one of the most frequently advertised, but am not familiar with the others.
Do you have any colleagues who already trade and would it be easier to use same broker as them if you are looking for initial advice from friends
Do any of them appear in the top 10 of any “best of” surveys, and have they been paid by broker to say so?

Best of luck choosing, and it’s not the end of the world if you want to change your mind in a month.

What’s great about starting a demo account is you could do it with all of those brokers! :slight_smile: I think all of those you listed sound pretty solid, the only one I haven’t heard much about is XM Global but the rest sounds good!

Thanks for you detailed response! I’ll make my little research about them. After posting this i found on other forums that a lot comes in mind at the time to choose one, like regulations, some are better for some countries, etc. And an advantage is the fact I can test all Brokers with demo accounts, Like 1 month with each one.

I think this will be important! I’ll test Demo accounts with each one so I can see with witch platform/experience I feel more comfortable.

I’ve tried IC Markets, Fxpro, Fxview, Tickmill, Hotforex, those are good ones you may add them in research and test their trading conditions.

The more you’ll keep looking for forex brokers Cran0x; more you’ll end up confusing between the endless numbers of brokers. In the entire crowd, finding the right broker can be tough. Here are the ones I’m currently using:
Turnkey Forex
Markets com
IG
Working with these brokers really simplified my trading process. If you’re still not sure, I would suggest to try with Turnkey Forex and IG. I believe these brokers will prove to be helpful to you too.

Your post reminded me of how I should be doing the same. :joy: