How can I find a good partner or broker?

Yeah, good tip. My first step in determining broker quality is demo performance and then if it meets criteria I set new for live account to see how it goes. Basically step-by-step approach where you have control over the process.

isnt that something like “How can I find a good girl to get marred to” :slight_smile: , its not that easy, based on my experience. There is a thread on this forum dedicated to offshore brokers who have been vetted over last 5 years. If you are just starting off, or if you are sick of client support and commissions and leverage limitations from your current broker, its best to try and move on to an ofshore broker. Given CFTC and ESMA more and more brokers will limit how much leverage you can take, how your trades are accounted (FIFO or LIFO or Average or trader’s selected). Plus weather you can hedge your positions or not or weather you can avail serious leverage like 200X or more. In my experience offshore brokers are the best way forward and they will re-define the forex brokerage indsutry in the coming years. You can see the list of these brokers here

Hope that helps :slight_smile:

True, increasing restrictions for trading will certainly clear industry from brokers offering financial casino and leave only trusted brokers with transparent trading conditions and proper regulation. In this case we have to wait to see which brokers deserve our money :slight_smile:

Here I am sharing few more points that how to find forex broker check

  • Trading Platform of The Broker
  • Customer Service of The Broker
  • Limit on Deposit and Withdrawal of Funds
  • Security with The Forex Broker
  • Transaction Costs Charged
  • Check Broker Reviews
  • Account types
  • Check Commission Rates and Spread
  • Types of Currency Pairs Offered

These tips are evident when your seasoned trader which learned with trials and errors. Newbies need some more detailed instructions.

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My simple suggestion would be to try one of the “trusted” brokers from this thread on babypips

Always demo test the conditions first and then test the broker with a small amount of money bet 10 to 100$. And the litmus test, request a withdrawal. If they give you problems withdrawing $10 - $100, imagine what they would do if you tried to withdraw a bigger sum

Partner for what? to become IB? I think you have to gain experience in trading first, then you will be able to give relevant info as an affiliate and get down to this type of business. Nothing comes without experience, same is for forex trading.

Can a :point_right:t5:South African:point_left:t5: use an :point_right:t5:
American Broker:point_left:t5: like yourselves​:thinking:?

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Hi Duncan,

While does not have an office in South Africa, you are welcome trade through one of our registered entities which are regulated in major financial centers around the world by the following bodies:

  • United States (Commodity Futures Trading Commission and National Futures Association)
  • United Kingdom (Financial Conduct Authority)
  • Japan (Financial Services Agency)
  • Australian Securities and Investment Commission
  • Cayman Islands Monetary Authority
  • Investment Industry Regulatory Organisation of Canada
  • Monetary Authority of Singapore

Based on your location, UK could be the best fit. Trading with an FCA-regulated entity would mean your funds are segregated in accordance with UK client money rules and protected for up to 50,000 GBP by the Financial Services Compensation Scheme.

Furthermore, UK can provide you with access to trade commodities (Oil), indices (S&P 500), shares (Apple) and cryptocurrencies (Bitcoin) in addition to the currencies (Euro) and metals (Gold) you can trade through US*.

*Spot bitcoin trading is not available to US clients at this time, but US residents now have access to Bitcoin futures trading.

1 Like Thank you kindly…:thinking: Can I use MT5? plans to roll out MT5 in 2019, but right now you can use MT4, NinjaTrader and TradingView along with our own Advanced Trading Platform. Is there any specific feature of MT5 you wanted to use?

1 Like Not really…just thought :thought_balloon: new is :ok_hand:t5:

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In that case, consider testing free demo accounts on the trading platforms we currently offer, and if there is a particular function you cannot find, please let us know.

Glad to see that brokers are moving to MT5 platform, which is nice, clean and richer in functionality. Hotforex already made transition but I still occasionally use their MT4 because of its specific features.

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My sentiments exactly…plus I opened a Demo account with but now they tell me I must open a Live Account😢

I would use a demo for learning the basics because 1 major difference is execution time and if your brokers going to scam you there not gonna do it on a demo.
I would like to see a thread on the execution times of all the major brokers on real accounts and if trades are delayed on purpose. That would be more informative.

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I think it would take them out business. Afterall, they make their money through funny administrative costs

Lets teach them that treating clients in this way is arrogant and unfair. Change the broker open demo with tickmill, IB or Hotforex and leave this negative experience,

It is really not a must that you open a live account with a broker as you demo trade, as demo trade has no limit.
In fact I prefer you demo trade for a long time before going live, and even when you are live start small. This is one way to know a broker you should trade with, because what you see while demo trading with them is nearly as what you will get when you go live with them.