Looking for online trading brokers

Hi, I am Likhon. I am looking for the best trading broker. But I have no idea about these. That’s why I started to research about that. In the meanwhile, I found out a trading website which is dedicated to bringing traders unbiased brokers review to help find the best trading brokers for online trading needs. Is there any article/website from where I get more reviews about that to know more?

There are a lot of blog posts with detailed information on this topic. Just search “Best Online Brokers 2022”, analyze pros and cons then pick the right one for you.

Hi @Likhon!

Thanks for visiting and participating in the BabyPips.com forum! We’re happy to have you!

Every trader is different in their approach and trading styles, so one broker could work for one but not another. Check out this lesson in the School of Pipsology which might be helpful to you as you choose your broker:

You can also check our Broker Discussion category here where you can ask about and learn from the experiences of other BabyPips.com members.

Hope this helps!

we the traders should choose the broker which is more appropriate to the concept of trading that will be used , if love doing scalping should choose the broker which allows trading concept such as this.

i think this topic is more appropriate for the broker discussion , hope you got the point

Hmmm. :thinking: I feel like I’ve been a victim of the paid review sites before. :sweat_smile: I shared a review for a broker and the members here just informed me that they use reviews to blackmail brokers to pay for them. :open_mouth: Maybe it’s best to hear from traders themselves in forums? :smiley: I suggest you go with regulated brokers first. :smiley:

when choosing a broker it is more appropriate to make sure real reviews by FPA where traders express their views about their broker performance.

I also think that going with regulated brokers is better since they pretty ensure safety of funds and this list has been a great help for me as well, have opened demo accounts with few ones - fxview, fxpro, tickmill, let’s see how the experience goes.

Here and reviews on FPA will help you navigate the field .
I use two EagleFX and IC Markets.
They both serve different purposes EFX have more Crypto, higher leverage for different strategies and I’ve always been with IC Markets solid as a rock as everyone knows by now

Earnforex and Forexpeacearmy are great sources for checking the credibility of forex brokers. The moderators there do a great job in screening out biased reviews. Even while choosing my current broker TurnkeyForex I thoroughly read all the reviews on these sites. Also, I would personally recommend you to have your requirements well sorted apart from just relying on reviews.

The broker needs to have a good customer support system and plenty of trading tools. The costs must be low too.

I don’t think that the confusion should ever be between choosing a regulated or offshore broker. You must always look for a broker that you can easily trade with and the one that lets you customize your trades as per your needs.

All brokers don’t allow all trading styles. If you like using different trading styles, make sure that your broker offers them.

I think you must read blogs related to choosing a suitable broker. This will help you create a list of the features that you must look for in your broker and you can proceed as required.

What website are you using? Personally, I like Forex Peace Army as they have realistic reviews and go into a lot of detail, so it saves time and makes comparison a little easier.
If you’re looking for a direct recommendation, it’s a little difficult to say without knowing more about the type of trader you are or what specific needs you have. I’d point you towards CedarFX in this case because they have low costs and offer a good variety of crypto, forex, stocks, etc. for trading. Generally, they have a lot of the things most traders are looking for with low prices. Alternatively, I have a couple friends trading with Oanda and Trade245 and they’ve always been satisfied trading through them. It may help to choose a few brokers to compare.

1 Like

Certainly important to know what trading style you’re planning on using and therefore what your needs are. Are you planning on hedging? You’ll need a broker that allows that. Are ultra tight spreads going to be important to you? Are you high frequency trading so having lower commissions favourable? Holding overnight? What are the swaps policy? Lots to consider.

There are many of them but few are helpful, because practice and theory are often quite different. That’s why you should take them with grain of salts and consider your own personal experience as the main source of trusted knowledge.

Forexpeacearmy, trustpilot and yell are some good resources to find out about brokers. I found out about aaafx from there and then tried them with a small account to test them on my own. Although helpful, review websites should not be trusted blindly. Doing your own research is important.

Regulations mean nothing nowadays and there’s a lot of examples of this. CPM, Pepperstone even some IC shady tricks. I can`t even remember all this examples. I prefer to have a good trading conditions and experience than to rely only on regulations.

They have different branches including offshore ones which offer higher leverage and you have a choice which one to use. For example I opened an account with Hotforex UK’s branch, leverage is limited however UK regulation ensures there will be no cheating