Yes, true. For sure, the order execution speed is an important consideration to get the requested price before the market price changes. Because of the slow order execution speeds, I have faced issues in the past and this is the reason why I moved to use fxview and interactive brokers. And most times, I got my order filled at the price offered by my brokers.
I think every broker is good in its own way. You just have to check whether you can reach your financial goals with it or not. If you can, go ahead with it and if you canât, there are many other options also that you can consider.
I have been using a single broker at a time. Looks like I need to start using multiple brokers, or so I have learnt in this thread.
Yes, I agree but there are some common things that every trader requires and wish for. So brokers can definitely be categorised on the basis of them. Safety of our funds, easy deposits and withdrawals, low trading cost and great execution is something always looked by everyone of us.
For me, trading costs, trading platforms, margin & leverage, research tools, and customer service are important factors before risking my money with any broker.
Everyone has a different reason for choosing a broker and for some it can be the security features and for others it can be the fees or regulation. They tend to make a decision based on their preference. At least I do that.
It is completely okay and reasonable to trade with different brokers. See you might not find all the services in a single broker so itâs better to give it a shot.
Totally! Like Iâve been using Avatrade for CFDs and it is also pretty similar to forex so it kind of works for me. For my ECN, I use Fxview, the spreads on which are pretty tight. Apart from that, the transaction cost and withdrawals are something I find important to look for in a broker. Better to not miss that.
I donât think anyone cares about that when their money is at stake!
The best broker is a myth. You start trading with one or two brokers. In some time, you will gain hands-on experience in trading with them and will find them the best for your needs. The same is the case with other traders also. Instead of looking for an answer by asking others, you better search for it yourself. You will be far more satisfied.
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Forex trading starts with money and ends with money. No one really cares about brand loyalty when they have options to save their money being offered by some other brand. And thatâs how it should be. Sticking to one thing can make you stand stagnant in the market. Keep improving and keep looking for new ways. Like at first, I was trading with Trading 212 and now, I trade with IC markets among others, because I get the benefits of better features.
I usually consider brokerâs costs, commissions, and customer service. If a broker is good with these things, I am happy to risk my money with it. I donât care much about the regulations because offshore brokers have proved to be a better choice for me over and over again.
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Unless a broker is a scam, it is good to trade with. You just have to make sure that it doesnât scam traders in the name of trading costs and charges. Reviews say a lot about a brokerâs history. Never underestimate the negative reviews given by a brokerâs previous customers. You can learn a lot about the broker based on these reviews.
You canât find much about a broker until and unless you have other brokers to compare it with. When there are two or more options to compare, it gets easier to make a decision. The first broker that you might hear about might not be the best for you. I also took around six months to decide to risk my money with XTB and Fxview. Before that, I was only testing different brokers to find the most suitable one for me.
You can add â â â â â â â too in that list. great spreads great services.
I donât just choose a platform for trading, rather I try to go with what it has to offer. It mostly differs from trader to trader but for me, I follow these steps and they have been quite helpful for me. Anyone who is having a tough time deciding a broker can visit this: (6 Crucial Things to Consider When Choosing a Forex Broker - BabyPips.com)
Youâre welcome.
Yeah and you wonât know if a broker is any good until you try it out. Something I always do and is also effective. You pick a broker, open an account, make a trade and then withdraw your money. It doesnât have to be a huge amount and trading micro accounts and such will be just fine.
Top 8âŚthat is a lot lol. Ok here goes.
EagleFX
IC Markets
CedarFX
Hugosway
FXCM
FX Pro
Ok I got 6
Thereâs no need for so much but iâll tryâŚ
EagleFX
IC markets - not so sure here already cuz of the latest Bitcoin price manipulation.
Oanda
CedarFX - really like their green mission.
Varchev - itâs my local one.
Not 8 but 5 is fine i think.