Recommendations on brokers

It’s not easy to find a good broker these days. A lot of them turn out to be scams whose only job is to make traders believe that they offer the exact services they are looking for and then, turn their accounts and trades upside down.

Coinexx can be considered. Trading with them starts at $5 and commissions are also $2/lot rt.

I am tired of all these brokers. They advertise something and deliver something else. If the brokers start to be honest, they will all have to close their shops. Just a suggestion, don’t go by what the broker tells you.

Only the trader himself can choose the right broker. Others will make recommendations on the basis of their experience with the broker that may not really work for you. So, better be careful before you take a risk.

A broker with low minimum deposit requirements is a blessing for sure. You get to test them with a small amount. This way you get to know about the exact features of the broker and find reasons why you should or should not trade with them.

If I were in your shoes, I would have done my own research. I respect everyone’s recommendations but they can never be in accordance with my requirements. I will have to do the hard work myself.

Since you are newbie you will likely not notice difference. However since regulation is an essential criteria, I would first make sure that your broker is regulated by FCA and authorized to offer services in the UK. Examples of such great brokers are Hotforex, Tickmill, Exness

I typically recommend CedarFX unless I know the person is looking for something they don’t have. They’re generally great for newbies because there’s only a $10 deposit min, support is always on standby, same-day withdrawals, no commission/low fees, basically just a lot of perks that most of us would look for.

I personally prefer to opt for ECN/STP brokers as traders get better prices and top notch trading conditions.

If you are looking for a low-cost broker, then you can consider these:

  • Turnkey forex - Minimum deposit: $10, Average Spreads - 0.2 pip, Leverage: upto 500x, commission: $2/lot RT
  • Cedarfx - Minimum deposit: $10, Spreads - 0.6 pip, Leverage: upto 500x, commission: $2/lot RT
  • Lqdfx - Minimum deposit: $10, Average Spreads - 1.2 pip, Leverage: upto 500x, commission: $7/lot RT