Hi, I’m Emmanuel, call me Eprof; a 24year old from Africa. I started learning forex trading couple of months ago. Even though, I have been consistent with profits on my MT4 Demo account, I believe there are a lot of things I still need to learn. Apart from that, I’ve been hearing a lot of news about brokers manipulating the market in their favour, this has scared me away from trading live. During my research to get better, I discovered this site. I hope this platform will be a great help for me to get better.
Thanks
Hi Eprof, and welcome to the forum. I would not be too concerned about brokers manipulating the market. All governments and big banks have been manipulating the markets for 5,000 years and have created far more damage than the odd broker. Start reading the Education section School of Pipsology where commission, slippage, spread are discussed. There are execution only brokers (who do not participate themselves, and just take a PIP spread) and there are trading desk brokers that do provide a fixed price normally at a higher spread. Even if you open an account with a poor broker it will not impact you until you trade live, so try to open more than one demo account so you can see if there are different prices they quote for demo trades.