Missing answers

First of all this site is amazing, I appreciate all the seasoned traders helping out with great easy to understand answers, i just started taking the pipschool and it has answered a lot of questions I have that I can’t find in videos or books I’m reading. I’m taking this as a hobbie since I have a good career going for me. So far all I’ve done is some paper trade.
The questions I’m stuck:
1- how to find a good broker, and how is the relationship with a broker?
2- can you make unlimited trades in a single day?
I’ll post more questions as it comes back to mind

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Answers
1a. Finding a good broker will depend on where you live. If you let us here know where you live (just what country will do) people here can then recommend brokers.
1b. In my situation my relationship with my broker is good. They have meet all of my requests regarding deposits, withdrawals and demo accounts.
2. The number of trades you can do in a day will only be limited to the funding of your account and the margin required to open the trades you want to open. Mind you not many people are willing to open trades risking more than 2% of their account. Also note that each time you open a trade you have to pay the spread (the difference between ask and bid) and possibly commission. So the more trades you open the more spread and commissions you pay.

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Virginia.

Is the spread only the difference you see? Or times the lot or times something else?

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For finding a good broker check various things like the broker’s trading conditions, reputation and the like. Do some research on them by checking various review sites like babypips itself and Fpa etc.
As far as unlimited trading is concerned, that depends on your risk tolerance,skills and knowledge. Better stick to limited trades until you become confident.

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The spread is just the difference between ask and bid. When it comes to your break even level it really doesn’t matter if you trade 0.01 lots or 10 lots the break even level will be the same.
Since I live in Australia, I’m sorry but I can’t give you personal advice on a broker in Virginia.

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Go with the bigger brokers - IG, Forex.com, Oanda! :slight_smile: As for unlimited trades, up to your account balance! I wouldn’t recommend opening too many trades though, time consuming and it can get really hectic really quickly.

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good broker found is really a complicated task , because right now so many brokers are available in this retail market and most of them are found as scams.

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Hi A2dG. Regarding the choice of broker please go through the following:

keith90 mentions Fpa

I take it forexpeacearmy?

How many times do newbies on this site have to be warned

forexpeacearmy are the biggest forex scammers on the planet ?

Russian mafia - just search on this site !

Next thing is forexpeacearmy will be giving Babypips a bad review if they don’t want to pay protection money !!!

IG are good but they are only spread betting. Lmax is good, a lot of the big brokers get their price feeds from Lmax, but the have a minimum deposit of $10000 I think.

Really? Do they get paid by brokers or something? :open_mouth: I thought they were at legit! Yikes.

@ponponwei

HI ponponwei
There are couple of threads here on Babypips
Have a look at Forexpeacearmy Scam or Not? What you think?

There is a lot on the internet about Dmitri Chavkerov and a very good synopsis if you google
Forexpeacearmy EU.

They take ‘protection money’ - Russian Mafia !

Anyway, I am going to a bar, to see if the bar person can get me a drink. :wink: Cheers !

What in the world. Well that escalated quickly. I thought they were just a bunch of scammers. :flushed:

So like… seriously, right? :joy:

The number of trades will ultimately depend on your broker. And for finding a good broker, narrow down your trading needs, and do a comparative analysis.

Check the BabyPips broker section for information on brokers, there’s plenty there.My advice is to stick to the regulated companies.