Since last three months I was in search to find out a good broker to start a real account. I traveled through a lot of forex forum websites and on reading thousands of reviews, I was disappointed and concluded that there is no forex brokers whom I can trust. The reviews on internet made me hopeless and forced to take such a decision. :46:
I believe that the major point to be noted while selecting a broker is security of money and easy withdrawal
I continued my searching and finally selected five brokers :18:
Dukascopy
HotForex
FXCM
FX Open
Trading Point
Then joined a Demo account with Dukascopy. As I was more familiar with MT4 Platform, I selected their FTT-MT4 platform for demo trading. I also used their JForex platform. But on practice, I found that then and there I close an open position in the Jforex platform, an opposite direction order for the same instrument is automatically executed on the MT4 platform which results loss of money in the form of spreads. Also I am not able to place or attach stop loss, take profit, trailing stop or not able to modify an order in the jforex platform. The equity displayed on both platforms are not matching. I am not getting the reason for the same and feel that, this may be due to lack my knowledge to patch up with Dukascopy trading environment.
Now, I am in confusion to make a decision.
I request you, good guys to suggest a broker to my taste from the above list or propose someone else found to be best in your eyes.:20:
Please note the minimum requirement expected are
Security of Money and withdrawal without problems and disputes.
Guessing your a relatively new trader so is avoid duka just for the simple reason that they charge higher commissions on small accounts. If you have a large account I hear they are right up there in terms of quality.
I have an account with hotforex, but I’m thinking you wouldn’t like them since they are based in seychelles (server in Amsterdam though)vice one of the big markets.
I’ve known a few people with trading point accounts that have never seem to complain.
I doubt anyone can really say which broker is “best” though.
I trade with hotforex and i guess they meet your requirments, for withdrwals I never had problems though it can take up to 24 hours, and i suggest submitting the withdrawal form during office hours, I noticed it is processed faster, I can comment on other brokers since i did not trade with them, best of luck mate, and stick with demo if you are unsure
I use Trader’s Way, FXCM and Alpari [don’t ask me why alpari but just opted to give these guys another shot], so yes, you may want to check the lot out and FYI, FXCM is already on your list. Happy trading, let us know how it works out.
hotforex is not based in seychelles, I have my major account there and I am satisifed with it. I used some other brokers listed above, however I prefer not to name it here since it’s a bad experience.
Definitely, not hotforex. Fxcm or Fxopen. Try with these brokers. And also I’d like to say that it doesn’t mean that if broker is regulated then your money is in safe. You can look through google and find a lot of articles about regulated brokers scam. There are good brokers among unregulated but they have no problems with money withdrawing and are trusted by their customers. Place your money to different brokers and then only from your own experience find the best for you.
different traders will have opinions for diffrent brokers, the best way is to test them from small and read more reviews from others. it will be helpful for you to make the wise decision.
Yeah, as some have said, you’re best to test them out yourself.
I personally recommend Oanda, Dukascopy and Pepperstone based of my extremely positive experiences with the three plus the low transaction costs. But, I encourage you to try a few and see what fits best.
Initial deposits are dropping all the time… toss in a few hundred, see how they handle live execution, and pick the one that works best. Very low risk way of trying a few out.
CapMar Financial UK is an ECN broker that can provide you with all your requirements. They do not act as a counterparty; therefore have NO B-Book and don’t trade against you (unlike others who claim to be STP), are regulated, deposit/withdrawing is easy, have a good MT4 platform and provide good customer service.
What sort of money are you looking to deposit and what volumes you plan to trade?
I recommend hotforex, they are just fantastic only few disconnections last year for system upgrade purposes, they have a stable platform and very tight pips sometimes its crazy on eurusd in addition they have got the best customer support.
