@Kevin, probably this is the reason experienced traders stress on keeping statistics and conducting analysis with self control. What I mean is without any assumptions.
I do not completely agree to it, I have been with some of the unregulated brokers and they have given me better trading conditions than most of the regulated brokers.
i agree, offshore ones were giving good conditions than regulated ones, but now as i am sensing around here, regulated ones are also giving same conditions just leverage is the issue now.
For me, the number one thing I look at in a broker is customer service. I know there are other relevant things too like spreads and all but if a broker doesn’t have the required reachability, I don’t prefer trading with them. What do you guys say?
Yes, they actually differ in terms of commission rates, spreads and withdrawal speed. I thought that too in the beginning.
From what I have gathered so far: going with an offshore option of a regulated broker is a good option, especially if one is keen on higher leverage.
I don’t have much of a preference for specific brokers and I just go with the ones that suit my trading style. Obviously, no one can tell that beforehand and after opening micro and other accounts with them, I get some idea.
yes, i agree. its better than going totally offshore, you just get a sense of reliability
Can you name those brokers you did demo trading with?
I think that’s completely fine and every trader has a particular preference when it comes to choosing a broker, right?
Of course, if i talk about myself, i wanted decent conditions which i got with fxview and solid platform with pepperstone.
Agreed. In fact while demo trading I started using the OBV to measure the positive and negative volume flow. My trading indeed got better since I could judge that when OBV is rising, the buyers step in while pushing the price higher.
Hey Mitchel! Did you try watching divergence when using OBV? In case the price is rising but the OBV is falling, this could indicate that the trend is not backed by strong buyers and there are high chances it could reverse.
I suppose offshore branches of regular brokers is the best bet. Like you know this broker is established and has offshore firms to give traders advantage of leverage and stuff.
You’re quite a risk-taker by simply opening an account with then. I always prefer opening a demo account for instance to see whether the proprietor platforms offered help me trade well.
Demo account is the right way to go about trading for me too. I simply practice by using the indicators to develop new strategies and then integrate them with the current ones.
I used FX Pro a few times in the past but I just didn’t like the interface. Don’t know if anything changed in recent years. As for the rest of them, I would agree that they are all great picks.
It is also interesting to see that Finance Illustrated seems to agree with when it comes to the best forex brokers. A lot of the same names on both sides.
I too use fxview’s demo and live account on their MT4 platform, offers real time charting data. So far, no problems. And you know it’s one of the few platforms that actually allows that. Not all brokers make it possible to create both demo and live accounts with them at the same time.
Apart from these aspects, please look into their trade execution as well, if the trades are not executed timely, all the other aspects loose their relevance. You can also try the unregulated brokers, some of them are better than the regulated brokers.