I’m in babypips high school. I am currently demo trading on ig.com
I am still doing research on good brokers I can trade live on. Any recommendations or advice would help.
Well, in the US you’re limited to just a handful of regulated brokers.
IG, Forex.com, Oanda and TD Ameritrade. Honestly, give them all a go. I trade primarily with Oanda, through their web platform, and also through Tradingview. But I’ve demo traded on IG and Forex.com too.
There’s also off shore if that’s your bag. There’s a really active thread here about Escaping the CFTC and trading offshore. Do a search, it should come up near the top. Those guys have a ton of experience with various brokers accepting US clients.
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There are a lot of good brokers available. You should choose one based on your particular trading requirements. Hope you find the right one soon.
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Any of the four US-regulated forex brokers are good choices. Open a demo account with each and see which trading platform you prefer.
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I would suggest you compare a few brokers before finally settling on one. If you are open for offshores then check out the cftc thread, there is a list of brokers and many experienced traders keep sharing their trading experience with these brokers. I also did the same and currently trading with turnkey forex.
I am not based in the US, I am in Australia, however we do face similar challenges imposed by government regulation over here too. They feel so dearly for us traders that they have chosen to impose leverage restrictions in order to ‘help protect us from loosing our money’. Being a responsible adult, I do feel I am able to manage risk of my own funds by myself and do not require a forced blanket of cotton wool wrapping around me, hence I chose to move my trading off-shore. Onshore leverage on forex here is capped at 1:30 as of earlier this year. Overseas I can access 1:500 like I did year for the 5 years prior to the new rules. I used to use IC Markets, which were good, however was forced to seek alternatives. After weeks of research, I settled on a smaller company called CedarFX and an confirm that I have been happy with my change. I chose the Eco account in order to do my bit for the environment too.
Good luck with your search.
There’s been a massive discussion on this:
Turnkey Forex, LQDFX, EagleFX, Coinexx, LMFX got the trusted badge in the discussion. You can check these out.