Need advice for broker

hi, i want to start trading forex and i need a good broker for it.
ill tell you things about my self and what i am looking in a broker, and i will really appriciate good advices.
i am from asia, my trading styles are trades that should last 1-20 days.

  1. ECN meta trader 4 regulated broker, the stringer the regulation the happier i am.
  2. big, stable and trustworthy broker, good name and less tech problems.

advantages (not neccesity)

  1. great spreads (though i can work with average spreads).
    2.offer islamic account (swap free).

please tell me what can best suit me, telling personal experience would be appriciated :slight_smile:

i am sure my broker, Forexmart, is a STP broker.
but they are not offer variable spreads, only fixed spreads,
however they offer zero spread accounts and islamic accounts

what do you think about fxcm ?

well, i am retail trader, and only trade with broker offered low deposit options
trade with Tickmill rite now, i dont know if this broker suitable for your need
but Tickmill is suitable for me,ECN trading conditions for retail forex traders, and already in this business for years.
however they do not offer swap free account though

It’s funny how people go crazy with deposit bonuses or all that, but is it so important? I feel sad that people are happy scarifying quality just to get some extra capital which is anyway is returned with wrong conditions or hidden charges, so why not go with good established broker? At least I am with established company in Vinson Financials, it has been in industry for past 11 years, so I have no fear and myself been working with them since last 4 years, check it.

does any 1 here has an opinion about fxcm ?

I never trade in FXCM, i tend and love to trade in liteforex,mayzus, and fxpro, and newforex. its great place for making money. fair and honest to their clients.

I totally support Karlsen: he’s right, Octafx is quite a good choice for you. I’ve been trading with this broker for some time and I can say that they work quite stable. I can’t say their spreads are always 0.2 like Karlsen mentioned (it’s the very very minimum that can be seen rarely) but they are anyway slightly better than others’. They are ECN, so it’s ok here and they do offer swap free accounts.
So yeah, this is my piece of advice.

Welcome to the forum, Matan :slight_smile:

Since no one else responded to this question, I just wanted to let you know that as FXCM’s representative here on Babypips, I’m happy to answer any questions you have about us in the Broker Aid Station.

FXCM offers No Dealing Desk (NDD) forex execution on all standard accounts where each your orders is offset one-for-one with the best prices from competing liquidity providers.

We are one of the only retail forex brokers in the world that’s regulated on three continents and a publicly-traded company (NYSE ticker: FXCM).

As of the latest publicly available data from January, we have 171,895 active retail accounts placing an average of 689,635 trades per day with an average daily trading volume of $16.5 billion.

Here’s a table showing FXCM’s live spreads.

FXCM offers these too. Just send me a private message to request more details.

hi, just go with some established FCA or ASIC regulated broker and stay away from any broker which is regulated somewhere else. If you stick to this basic rule you should substantially increase your chances of choosing reliable and transparent broker…I currently trade with Vantage FX on their RAW ECN price feed. I have made some money and trading conditions hasn’t changed…

you were right sir. not having experience then talking much about, its not wise of course.
If someone here ask me about liteforex broker, i will said, its GREAT and AMAZING!!
not defend them, its based on my experience

FXCM is a fair broker, but the fact that NFA fined it for falling to report their finacial data leaves me with alot of questions than answers. Before investing with them,. you need to be vary cautious! check for their revies and if possible check the NFA site for latest cases against Them

Hi Maseno,

There seems to be some confusion. FXCM is regulated in the US by both the NFA (National Futures Association) and the CFTC (Commodity Futures Trading Commission).

While the NFA is a self-regulatory organization for the US derivatives industry, the CFTC is a US government body and our financial data are updated on the website every month. Below are their latest capital figures for every firm registered with the NFA as a Retail Foreign Exchange Dealer (RFED):

The column that says “Total Amount of Retail Forex Obligation” shows the amount of money retail traders have on deposit with FXCM US which is over 30% greater than what is on deposit with the number 2 forex broker in the US. And those are just our US data!

Since FXCM is one of the only retail forex brokers in the world that is a publicly-traded company (NYSE ticker: FXCM), our global financial data are more easily accessible than the financial data of the vast majority of other retail forex brokers that are private companies:

As of November 5, 2015:
[li]Adjusted Q3/15 revenues of $59.6 million
[/li][li]Adjusted EBITDA from continuing and discontinued operations of $5.2 million
[/li][li]$254.3 million in operating cash
[/li][li]$713.2 million in customer equity
[/li][li]178,273 active retail FX accounts
[/li][li]Regulatory capital surplus of $85.1 million

We believe in making our financials transparent so that clients and potential traders know about the performance and health of FXCM as a company. We also believes all traders should be asking his or her broker some pivotal questions regarding the company’s financial stability. FXCM’s financials are audited by Ernst & Young, which is one of the top four ranked accounting firms in the world.

For a full in-depth look at FXCM’s financials, recent press releases, monthly customer trading metrics and SEC filings, please visit our Investor Relations page.

Now i am on ForexMart, they are just new but i think they are really good broker especially on making their clients satisfy on their service. still looking for more good results with it.

Hi Everyone,
I am new and and spent hours with my research - but i do not seem to be any closer to an answer. I am looking for a broker with the following:
1.FCA regulated and preferably domiciled UK - is the domicile important?
2.STP preferably, but ECN can also work - definitely NDD. I have joined HY, from my research they met this, but now trading on it, it seems a market maker/dealing desk. Quotes differ substantially from other brokers i used for demo accounts
3. Small deposits permitted - max 100USD, but then terms and conditions must not change from what i researched - this seems to be the case mostly.
4. Uncomplicated deposit and withdrawal - i have read so many reviews of “withdrawals” which seem to have fine print when it comes to withdrawals - i am still working a day job as well, and cannot afford to loose my money in scams
5. Uncomplicated trading platform - joined HY to find my deposit only warrants HY web trader - so all of a sudden no ECN, requoting, and incredibly slow, and support on Live chat’s “Just a moment” becomes forever
4. Scalping and hedging to be permitted.
5. Competitive spreads, but do not mind if it is not the lowest in the market
6. Bonuses which are not scams, which do not have millions of strings attached when it comes to withdrawals, but not critical
7. SWAP free would be great - but not critical

Thanks a million

what is the web address for NFA?

Your requirements are quite difficult, between great low spread and free swap (unless you are Muslim). You should accept one of the two. Here I am, there is one and the review also satisfies free swap (not necessarily Muslims) or spreads as great as you want. here In search of the Best Broker to start Forex trade