Are there any hidden fees or charges that I should be aware of while choosing a broker?
Is there a way to pass by this restriction for U.S traders? I think with fake ID and VPN it should work to trade but withdrawal could get more hassle.
For the sake of legality, I really wouldn’t recommend doing something that put you under a high risk, where you will land into trouble in future.
Not sure about the hidden charges but there are some extra charges which you need to be aware of before opening an account. Some fees to look out for like inactivity fees, rollover charges, and withdrawal fees. I am sure there are more. It’s important to read the broker’s terms and conditions carefully and to ask their support questions if anything is unclear.
These are all insignificant fees what you should focus on is to prevent loss from trading itself. Other fees are managed easily.
Hi all, new to trading and currently in Demo mode. After trying several brokers and platforms, I’ve been using and prefer Plus 500 as my demo account.
Any pros and cons using them as a live account?
Nearly 1 year
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Update 
- after more than 4 months I used IG market Real and Demo and I can tell that IG market is trustable for beginner . But you need to run you EA on demo to ensure it is will work on real without any trouble and many times you need to modify it to work on alive account
- For people who care : I dont advise you to do backtest , instead you save all tick Ask and bid with tick time on csv , then use you coding skill to backtest you strategy on vba excel or python or any other coding languages , MT back tester is rubbish and useless and give misleading results . This way will save a lot of time for you , and the results will be same as real too
Good luck for all
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Do any one of them have any promotional programs going on currently?
Been hearing a lot about trading scams lately. Glad compliance & regulators are stepping up. Anyone else feel the same? Any close calls or shady broker experiences?
You’ll find what you seek! When you’re asking for shady broker experiences, of course, you’ll receive shady answers a lot more than healthy ones.
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@slade_456 A few months back, I almost got caught with a broker that promised massive returns with zero risk. Their site didn’t show any regulatory info, so I checked FCA, ASIC, and CYSEC and found nothing. Plus, I saw a bunch of complaints about withdrawal issues on Trustpilot. Unregulated brokers are not worth the risk.
Regulation is imp, but it doesn’t fix everything. I lost a lot with a regulated broker because their execution was poor during a market spike. Just being regulated doesn’t always mean they’re reliable.
That’s rough! I know regulation is key, but what else should we check to make sure a broker is legit?
I’d say checking out review sites and trader forums like babypips here is super helpful. Real trader experiences can tell you a lot. Also, start with a small deposit to test them out before going all in.
Besides regulation, low commissions and tight spreads are huge for me. I used to get hit with $10 per trade, which really cut into my earnings. Switching to a broker with $2 trades made a big difference!
That’s a good one! But fast execution and low slippage are imp too. I’ve lost out on some great trades because of slow order fills. Time really matters.
I’m all about low-cost brokers, especially since I do a lot of scalping. If you’re scalping, you definitely want to go with low latency and fast execution. I have a few favourites when it comes to keeping costs down.