Looking for a new UK broker. Trying XTB and ETX, any others?

Broker Discussion Forex Brokers
#1

After starting with IG, I got a bad experience relating to a stop loss. Their customer service was quite poor, basically not listening to me and just referring me to their terms and conditions. So now I am looking for a new broker. I’ve opened with XTB and also ETX. I’ll let you know my experiences so far:

XTB
Account opened straight away and got a call immediately from my account manager. They invited me to their trading club which is in house,I think it’s basically a seminar or something. I said no (politely). The account guy then sent me loads of reading material and videos on moving averages and other TA indicators because I said I was interested in technical analysis. Have logged on to their platform and traded a few times already. Quite impressed with their charts and execution is good so far,though spread on ftse is 1.4 (I think this is quite wide). So far it’s going well. 9/10.

ETX
Opened with them and got the account within 2 hrs. Logged into their platform and seemed OK to me also. Spreads seemed quite tight. I also received 2 emails straight away telling me more about their services. I got a call from an unknown number later that evening,which could have been the but they didn’t leave a voicemail. 8/10.

So far my preference is XTB for their service.

But I would like to try some others so before I put in more money. If you have any comments or experiencesabout the above brokers or any other,please let me know. From experience I would rather hear from actual traders than what the sales guys at these brokers tell me.

Thanks

#2

Take the time to learn about fx before you even consider putting money in anywhere.
Study at the free school here, take all the quizzes so you can see how much you really understand, practice, practice, practice. There’s plenty of time to lose money later, as most new traders do, but at least you may understand why you’ve lost and be able to make changes to ensure it doesn’t happen repeatedly.

#3

Thanks for the suggestion. I’ll definitely have a look. I was offered some trading courses too but they were for '000’s and I honestly couldn’t see the value, especially when I was offered a beginners course from free at one of the brokers I’m trying. I think those who cannot do, teach. I also think I need to trade for real as that’s the only way I will truly learn. Hopefully I’ll be successful. Not looking to do it as a pro, just as a hobby and some nice pocket money. Anyway will see how I get on and report back some experiences.

#4

That must make deciding how to learn terribly difficult? Or perhaps terribly easy, because you can just “ignore and reject [I][U]all[/U][/I] formal education out of hand” right from the start?

Can’t say I’d fancy that approach, myself … :33:

That must make your learning-curve pretty expensive, compared with those of everyone else who imagines that that’s what demo accounts are for?

#5

Thanks. The comment I made about those who cannot, teach etc was more a reference to those people who sell trade courses for thousands. A year ago I went to a course for free, then the guy (remaining nameless) did a hard sales pitch on how he can mentor me for 5,000 ! It seemed like a well versed sales pitch and kind of high pressure tactic to dupe me out of 5k. Afterall, if he can trade so well, why does he need my 5 grand!?!. That’s what I meant.

But I fully agree on using all the free learning material! I’m sure it will help me, plus I got sent some webinars by XTb so may watch those too.