Need to choose a broker

Hi,

I have been using a demo account for the last few months and now want to go live.

I have been using FXTM and ThinkTrader for the demo accounts. Happy with both of them but when I look for user reviews I get mixed opinions (either very good or very bad).

Can you give your input and help me on this?

Thanks in advance for your time.

Hi, the most important is looking for regulated broker. Regards Greg

Most brokers geta bad reveiw normally by ssomeone who lost money and always blame the broker, as long as regulated you should be fine, I have some on my blog www.thescruffytrader.com

Kind Regards
Langers
The Scruffy Trader

Check how the brokers handle bad reviews, do they spring up to resolve the issue? If yes, it shows they care about their reputation and their client. It also shows they are serious about making traders happy. If there is no response especially on FPA, it is a red flag. I admire this about Forexchief. Although when I checked back then there were a few bad reviews, but they always responded and solved them. This is just my opinion and advice.

I’m new to this forum and i was looking if anyone would advise me with a good broker to start of trading ?

Same topic that might help you: :wink:

You want the brokerage you select to have a strong market presence and a quality reputation. you win or lose while trading, the forex broker will continue to make a profit on the difference between what you pay, and the actual “market price” that they are paying. The main job of a forex brokerage is to provide you easy access to the forex trading market and make some money in the process.

All brokers have good and bad reviews.
Don’t be serious with the reviews, each person likes different, you choose what you want.
if you’re happy, it’s happy.

What kind of broker should a beginner choose, and does the leverage matter the most in the broker i choose ?

Hi,

Thanks everyone for the input.

I have chose Oanda. Just got a bit confused with the deposit/withdrawal method which seem transversal to all brokers. The general rule is that profits need to be withdrawn to the same source. At the same time they say you can only withdraw an amount not superior to the one you deposit.

Lets say I deposited 200€ with my cc and then I want to withdraw 400€, I cannot do it thru my cc? I have asked them about it, personal assistant says I can, guy from
live chat says I need to setup and validate a bank account.

City Index will help you, man)

I need a broker that has high leverage and with good scalping tools to use.

A broker that has lower spreads from 0.0 pips and a good execution speed.

If you’re looking for high leverage then all EU brokers are out, ESMA banned leverage above 1:30 some time ago.

Check out FP Markets, they offer both MT4 and MT5 platforms, their Spreads are better than most other ECN brokers.
Their commision is cheaper as well, they charge $3 per lot, They also offer Free VPS if you meet certain criteria, check out with their supoprt.

Hi,

You can try out CWG Markets! It is regulated by FCA and SVG respectively. You can deposit as low as $10 and enjoy the leverage up to 1:1000! You can try out the demo account first and then only figure if you want to continue with CWG Markets.

It is quite frequent that I go through the questions of people looking for trusted forex brokers and I always prefer sharing my personal experience with them. I give my vote to Oanda, FXTM and FxView, considering that they provide me with quick withdrawals & good leverage.

I mostly scalp in the Majors, S ao looking for broker that offers tight spreads (Preferably ECN Pricing) and most importantly is stable during high volatility market movements.

I read reviews on ICM, FP Markets and Globalfx not sure which broker would be suitable for my requirements. Any reviews on these brokers ?

I think every broker has % of traders who lost and want to express dissatisfaction. The problem is that we should not be interested to read or count reviews where the person tries to blame somebody for his own mistakes. It is a complaint based on ignorance, lack of experience, inability to accept mistakes. We want to read reviews from traders who was good at money and risk management but suffered from a broker mistakes. Ability to find that reviews, unfortunately comes only with experience.

Hi Kenith12, I would recommend FP Markets over ICM and GlobalFx, not saying they are bad brokers but FP Markets has an advantage when it comes to Spreads. Their commissions are lower as well compared to the other two brokers.

@Kenith12 I haven’t tried FP market but I have first hand experience with ICM and I would advise to stay away from them, specially if you are planing to trade with larger deposits.

They will eventually hunt you down by playing with swap, spread and margin requirements. Their PDS is scripted and designed for these plans and if you have an account with them, you already accepted that you have no power over these decisions.